Press release
Global Substation Automation Market Market Will Hit At CAGR Of 7.17% During Years 2017-2021
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Substation automation helps to capture the data from the IEDs, and manage the automated plant grid operation by facilitating communication between IEDs. Alternatively, substation automation is a technology that facilitates precise integration between devices and data management systems within smart grid. As more IED devices are incorporated into the smart grid, the need for substation automation is a growing imperative. A well-designed substation automation architecture offers a scaled approach to add new automation applications along with shared communication infrastructure for the substation to realize the full benefits of smart grid application.
Technavios analysts forecast the global substation automation market to grow at a CAGR of 7.17% during the period 2017-2021.
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Covered in this report
The report covers the present scenario and the growth prospects of the global substation automation market for 2017-2021. To calculate the market size, the report considers the revenue, Y-o-Y growth, CAGR, retrofit, replacement, and the services market.
The market is divided into the following segments based on geography:
Americas
APAC
EMEA
Technavio's report, Global Substation Automation Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Key vendors
ABB
Eaton
Grid Solutions
Schneider Electric
Siemens
Other prominent vendors
Atlantic City Electric
Cisco
Eaton
G&W Electric
Kalkitech
Kyland Technology
Market driver
Growing need for remote operations due to rising demand for electricity
For a full, detailed list, view our report
Market challenge
Growing complexity in communication among devices due to interoperability issue
For a full, detailed list, view our report
Market trend
Adoption of Internet of things (IoT) into power systems
For a full, detailed list, view our report
Key questions answered in this report
What will the market size be in 2021 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?
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