Substation Automation Market is Expected to Dominate Worldwide by 2025

According to Verified Market Intelligence, the Global Substation Automation Market was valued at USD 114.14 Billion in 2017 and is projected to reach USD 171.18 Billion by 2025, growing at a CAGR of 5.0% from 2018 to 2025.

Substation automation system is an advanced power distribution network that provides control, monitoring, automation, protection and communication of all the equipment in the substation remotely as well as locally. It is the key component of the power grid that facilitates the efficient distribution and transmission of electricity. It uses data from intelligent electronic devices (IED) for supervising and controlling various protection and automation functions.

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Rising electricity demand, need for up-gradation of existing networks and high demand for smart grids are the driving factors for the global Substation Automation market. While cyber-attack and high capital expenditure for installations act a potential restraint for the overall market at a global level.

The “Global Substation Automation Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such as ABB Ltd., Siemens AG, General Electric, Cisco Systems, Inc., Schneider Electric, Eaton Corporation PLC, Honeywell International, Inc., Schweitzer Engineering Laboratories, Inc., Novatech LLC, Crompton Greaves. Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis.

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This release was published on openPR.