Press release
Substation Monitoring System Market Revenue, Growth Rates, and Industry Challenges in 2025
Monitoring of substations has become an essential task currently, in order to ensure consistent power supply to end-users. Transmission and distribution substations supply electric power to different loads depending on the end-users and voltage levels. There are different monitoring methods, which include wired and wireless technologies, while wireless communication technologies include GPRS, GSM, and Ethernet. Substation monitoring systems monitorsspecified parameters such as current, frequency, voltage, current, temperature, and power factor. Substation monitoring system consist of various equipment such as circuit breaker, transformer, relays, APFC panels, etc. The substation monitoring system consists of three main units, namely, data processing and transmitter unit, load and measurement system, and receiver and PC display unit. Substation monitoring system are widely used in the market for increased reliability, operational advantages and economic benefits. The substation monitoring system is a crucial element of global and national infrastructure. Furthermore, when these systems breakdown, they lead to a high impact on national security and economy.
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The main factors driving the substation monitoring system market is the development strategies implemented by the players operating in the substation monitoring system market, such as agreements, contracts, product launches and developments, partnerships, and expansions. Moreover, the increasing demand for reduced distribution and transmission losses in developing countries such as India is propelling the substation monitoring system market. Aging infrastructure, need for increasing the government support for optimum electricity utilization, continuously improving IoT-based communication network and development of the IEC 61850 standard to allow interoperability between IEDs are also driving the market. However, major restraints of the market include heavy initial capital expenditure for installations of sensor (wireless) networks and continuously increasing cost of installation of IEDs in substations.
The substation monitoring system market can be segmented based on component, communication technology, end-use sector, industry, and geographic regions. Based on component, the market can be classified into hardware and software components. The hardware segment can be further sub-segmented into distribution network feeders, microcontrollers, smart sensors, cameras, and intelligent electronic devices (IEDs). The intelligent electronic devices (IEDs) sub-segment can be further split into relay devices, transformers, circuit breakers, switches, and controllers. The software t segment can be further sub-segmented into production management, asset management, and performance management. In terms of communication technology, the substation monitoring system market can be segregated into wired and wireless technologies. The wired technology segment can be further classified into profibus and Ethernet. The wireless technology segment can be further sub-segmented into cellular, wireless LAN, and zigBee. Based on sector, the market can be segmented into transmission and distribution. In terms of industry, the substation monitoring system market can be segregated into steel, oil & gas, transportation, and mining. Based on geographic region, the substation monitoring system market can be segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. Asia Pacific is expected to dominate the substation monitoring system market due to the rising demand for reduction in transmission and distribution losses in developing countries such as India and government initiatives taken for electric monitoring systems in such countries.
Key players operating in the global substation monitoring system market include ABB, Siemens, Cadillac Automation and Controls, Cisco, Schneider Electric, Emerson Electric, Honeywell, General Electric, Eaton, Schweitzer Engineering Laboratories, Crompton Greaves, Novatech, Schweitzer Engineering Laboratories, and Sentient Energy. These players are vigorously involved in organic and inorganic growth strategies in order to gain competitive advantage in the market. Partnerships, collaborations, agreements, and new product launches are some of the vital strategies followed by them.
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