Substation Automation Market is expected to cross the value of US$ 49.3 Bn by the end of 2031

Analysts at TMR estimate the Substation Automation Market to expand at a CAGR of 6.3% for the forecast period from 2021 to 2031. The increasing adoption of technology for safe and reliable electricity supply to serve the exploding demand for power is fueling the growth of substation automation market. Susceptibility of existing substations to disruptions, and risk of breakdown of aging electric grid is compelling governments to automate energy distribution at all levels. This favors upgrade to substation automation.

Read Report Overview at- https://www.transparencymarketresearch.com/substation-automation-market.html

Growing practices of complementing conventional energy production with renewable and non-conventional energy sources necessitating the establishment of smart grids is creating opportunities in the substation automation market. Substation automation enables intelligent and interactive power distribution to switch between energy sources for optimum utilization of grid capacity.

Substation automation involves integration of next-gen technologies that helps to reduce operational and maintenance costs, and help improve plant productivity. Substation automation offers high performance, energy efficiency, safety of electrical power network, reliability of existing electrical supply, and increased integration of renewable energy into existing network.

Asia Pacific is anticipated to emerge as a key region in the substation automation market in the upcoming years. Investments in smart grid technologies by governments in developing countries to minimize huge losses incurred from conventional electrical grids stimulates the substation automation market of the region.

Request a Report Sample at - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=2737

Substation Automation Market - Key Findings of the Report

Need to minimize operational cost and productivity losses of electricity substations is compelling governments for automation in a step-wise fashion. Practical challenges in replacing old substation completely at once is leading governments to initiate with implementation of intelligent electronic devices, integrating with central systems, and subsequently complete automation. For instance, Penelec - the subsidiary of FirstEnergy - announced the completion of work in Clarion County, Pennsylvania wherein manually operated switches on the line replaced with remote-control devices.

Significant operational advantages of intelligent electronic devices is leading to their increasing integration with central systems. Intelligent electronic devices can send or receive data/control to or from an external source for automation of central grid.

Recognition of substation automation as cutting-edge technology in electrical engineering is leading to increasing automation of age-old substations. Enhanced electrical protection, advanced disturbance, performance and reliability, display of real-time substation information in a control center, event recording capabilities, remote switching and advanced supervisory control are some functionalities of substation automation. These combined functionalities make electricity distribution burden-free and fault detection and restoration faster.

North America is a key region in the substation automation market. Substantial investments by energy departments to modernize transmission and distribution due to limitations of aging and distressed infrastructure makes North America a key region in the substation automation market.

Get PDF Brochure for More Insights - https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=2737

Substation Automation Market - Growth Drivers

Exploding demand for power and susceptibility of traditional aging electric grid to breakdowns and malicious attacks are driving the substation automation market

Intensive efforts of governments to upgrade to smart grids for efficient electricity transmission, cost-efficient operations and reduced administration expenses, and ultimately lower energy bills for consumers fuels the growth of substation automation market

How Substation Automation Market will recover after covid19 - https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=2737

Substation Automation Market - Key Players

Some of the key players operating in the substation automation market are;

ABB Ltd.
Alstom S.A.
Cisco Systems Inc.
Eaton Corporation Plc.
Itron Inc.
Mitsubishi Electric Automation
Trilliant Inc.
Schneider Electric S.E.
Siemens A.G.
GE Energy Management
Echelon Corporation

Make Enquire before Buying at https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=2737

The substation automation market is segmented as follows;

Substation Automation Market, by Component

Hardware
IEDs
Bay Controller
Feeder and Motor
Protection Relay
Tele Controller/IECs
Circuit Breaker Control & Management
Line Differential
Others
Software
Data Visualization and Monitoring
Data Analysis

Substation Automation Market, by Module

SCADA
HMI
RI/O (Remote Input-Output)

Substation Automation Market, by Communication Network

Ethernet
Power Line Communication
Copper Wire Communication
Optical Fiber Communication
Substation Automation Market, by Application

Transmission
Distribution

Substation Automation Market, by End-use Industry

Utility
Industry

Substation Automation Market, by Region

North America
U.S.
Canada
Rest of America
Europe
U.K.
Germany
France
Rest of Europe
Asia Pacific (APAC)
China
India
Japan
South Korea
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
GCC Countries
South Africa
Rest of Middle East & Africa
South America
Brazil
Rest of South America

Browse Latest Electronics & Semiconductors Market Research Reports by TMR:

Electric Power Substation Automation Market - https://www.transparencymarketresearch.com/electric-power-substation-automation-market.html

Substation integration Market - https://www.transparencymarketresearch.com/substation-integration-market.html

Smart Power Distribution Systems Market - https://www.transparencymarketresearch.com/smart-power-distribution-systems-market.html

IoT Device Management Market-https://www.transparencymarketresearch.com/iot-device-management-market.html

GaN on Diamond Semiconductor Substrates Market- https://www.transparencymarketresearch.com/gan-diamond-semiconductor-substrates-market.html

Spintronic Devices Market -https://www.transparencymarketresearch.com/spintronic-devices-market.html

GaN Semiconductor Devices Market- https://www.transparencymarketresearch.com/gan-semiconductor-devices-market.html

GaN Substrate Market- https://www.transparencymarketresearch.com/gan-substrate-market.html

Contact Us:

Rohit Bhisey
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Blog: https://tmrblog.com
Email: sales@transparencymarketresearch.com

About Transparency Market Research

Transparency Market Research is a global market research reports company providing business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

This release was published on openPR.