Substation Monitoring System Market Advanced Features to Underscore Lucrative Growth Opportunities: Honeywell International Inc., Siemens AG, Schneider Electric SE, Emerson Electric, General Electric, Eaton Corporation Plc, Schweitzer

Substation monitoring system is designed to remotely monitor and control distributed power generation. Substations are essential for supplying power to consumers and act as the connection points between transmission networks and electric generators. Substations offer steady flow of voltage, and maintains the temperature of distribution transformers. Additionally, it helps in converting the Alternating Current (AC) to Direct Current (DC). Therefore, substations offer improved power quality management with increased reliability and operational advantages.

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Rising demand for the reduction in distribution and transmission losses is the major factor driving the growth of market.

In the process of supplying electricity to the consumers, power loss is expected due to technical and commercial losses. Technical loss is due to dissipation of energy in transformers, conductors, and other equipment used in the distribution of power. Additionally, commercial losses are due to bypassing meters, defective meters, and errors in meter readings among others. For instance, according to the Coherent Market Insights’ analysis, the average transmission and distribution losses in 2014, accounted for around 23% of the total electricity generated globally. Therefore, the demand for substation monitoring systems high for use in energy distribution operations, to reduce distribution and transmission losses (T&D losses), which in turn, is expected to positively influence the growth of the market during the forecast period.

Wireless Technology segment is expected to hold the largest market share over the forecast period

Among communication technology, the wireless technology segment held the largest market share in 2016. The segment includes cellular, wireless LAN, and Zigbee among others. The wired communication technology are easily susceptible to corruption, as they are more difficult to maintain than wireless technology. Therefore, the demand for wireless technology is increasing and is thus expected to fuel growth of the market over the forecast period (2017-2025).

High capital expenditure for installation of equipment is the major factor hampering growth of the market

High installation cost of the IEDs (Intelligent Electronic Devices) in substation such as transformers, relay devices, switches, controllers, circuit breakers is the major factor hindering growth of the market. Additionally, high expenditure for installation of wireless sensor network in application grid, which contains multifunctional sensor nodes helps in power generation, power delivery, and power utilization is also a major factor hampering growth of the market.

Harsh environmental conditions is the major challenge faced by manufacturers in the substation monitoring system market
Harsh environmental conditions such as storm water drainage, noise, lighting, and road traffic are expected to hamper the proper functioning of substation monitoring systems. Factors such as substation landscaping and habitat loss, changes to local aesthetics and view sheds, noise, and lighting are considered to be long-lasting and permanent effects.

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Global Substation Monitoring System Market: Competitive Background
Key players operating in the substation monitoring system market include ABB, Honeywell International Inc., Siemens AG, Schneider Electric SE, Emerson Electric, General Electric, Eaton Corporation Plc, Schweitzer Engineering Laboratories, NovaTech Systems, and Crompton Greaves.

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This release was published on openPR.