Press release
Substation Monitoring System Market Growth Probability, Leading Vendors and Future Scenario By 2024-2031
Substation monitoring system market is anticipated to grow at a CAGR of 9.2% during the forecast period (2024-2031). The growing adoption of a smooth and uninterrupted supply of power from generating locations to the load centers is the key factor supporting the growth of the market globally. To improve the reliability, efficiency, and financial sustainability of the electricity supply around the globe. Modernization of substations helps strengthen to power transmission network to meet current and future demands the market players are also focusing on introducing substation monitoring system solutions that further bolster the market growth. For instance, in February 2023, GE Renewable Energy's Grid Solutions business announced it had been awarded a multi-million dollar contract from the Nepal Electricity Authority (NEA) to automate 39 substations of various ratings across Nepal, including the construction of six Master Control Centers (MCCs).Get Free Sample link @ https://www.omrglobal.com/request-sample/substation-monitoring-system-market
The global substation monitoring system market is segmented on the components, communication technology, and industry. Based on the component, the market is sub-segmented into hardware (distribution network feeders, smart sensors, microcontrollers, cameras, intelligent electronic devices (IEDs) and software (asset management, production management, performance management). Based on the communication technology, the market is sub-segmented into wired and wireless. Further, on the basis of industry, the market is sub-segmented into utility, oil and gas, mining, steel and transportation. Among the industry, the utility sub-segment is anticipated to hold a considerable share of the market owing to the rise in the development of advanced computer technology, modern electronic technology, communication technology and information processing technology to recombine and optimize the functions of substation secondary equipment.
full report of Substation Monitoring System Market available @ https://www.omrglobal.com/industry-reports/substation-monitoring-system-market
Market Coverage
Market number available for - 2024-2030
Base year- 2023
Forecast period- 2024-2030
Segment Covered- By Source, By Product Type, By Applications
Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
, and others
Global Substation Monitoring System Market Report Segment
By Type
Hardware
Distribution Network Feeders
Smart Sensors
Microcontrollers
Cameras
Intelligent Electronic Devices (IEDs)
Software
Asset Management
Production Management
Performance Management
By Communication Technology
Wired
Wireless
By Industry
Utility
Oil and Gas
Mining
Steel
Transportation
The Report Covers
Market value data analysis of 2023 and forecast to 2031.
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global substation monitoring system market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market-entry and market expansion strategies.
Competitive strategies by identifying 'who-stands-where' in the market.
For More Customized Data, Request for Report Customization @ https://www.omrglobal.com/report-customization/substation-monitoring-system-market
Media Contact:
Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: info@omrglobal.com
Contact no: +91 780-304-0404
About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. The company also offer Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services through another subsidiary Encanto Technologies.
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