Global Demand For Substation Monitoring System Market Size & Share, Growth, Trends, and Forecast 2017 - 2025

The report "Substation Monitoring System Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025 ", has been prepared based on an in-depth market analysis with inputs from industry experts.

The objectives of this study are as follows:

To define, describe, and forecast the "Substation Monitoring System" market by type, application, component, delivery model, end user, and region

To provide detailed information regarding major factors influencing market growth (drivers, restraints, opportunities, and industry-specific challenges)

To analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market

To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders

To forecast the market size of market segments with respect to the four key regions: North America, Europe, Asia, and the Rest of the World (RoW)

To strategically profile the key players and comprehensively analyze their product portfolios, market positions, and core competencies

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Monitoring of substations has become an essential task currently, in order to ensure consistent power supply to end-users. Transmission and distribution substations supply electric power to different loads depending on the end-users and voltage levels. There are different monitoring methods, which include wired and wireless technologies, while wireless communication technologies include GPRS, GSM, and Ethernet. Substation monitoring systems monitorsspecified parameters such as current, frequency, voltage, current, temperature, and power factor. Substation monitoring system consist of various equipment such as circuit breaker, transformer, relays, APFC panels, etc. The substation monitoring system consists of three main units, namely, data processing and transmitter unit, load and measurement system, and receiver and PC display unit. Substation monitoring system are widely used in the market for increased reliability, operational advantages and economic benefits. The substation monitoring system is a crucial element of global and national infrastructure. Furthermore, when these systems breakdown, they lead to a high impact on national security and economy.

The main factors driving the substation monitoring system market is the development strategies implemented by the players operating in the substation monitoring system market, such as agreements, contracts, product launches and developments, partnerships, and expansions. Moreover, the increasing demand for reduced distribution and transmission losses in developing countries such as India is propelling the substation monitoring system market. Aging infrastructure, need for increasing the government support for optimum electricity utilization, continuously improving IoT-based communication network and development of the IEC 61850 standard to allow interoperability between IEDs are also driving the market. However, major restraints of the market include heavy initial capital expenditure for installations of sensor (wireless) networks and continuously increasing cost of installation of IEDs in substations.

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The substation monitoring system market can be segmented based on component, communication technology, end-use sector, industry, and geographic regions. Based on component, the market can be classified into hardware and software components. The hardware segment can be further sub-segmented into distribution network feeders, microcontrollers, smart sensors, cameras, and intelligent electronic devices (IEDs). The intelligent electronic devices (IEDs) sub-segment can be further split into relay devices, transformers, circuit breakers, switches, and controllers. The software t segment can be further sub-segmented into production management, asset management, and performance management. In terms of communication technology, the substation monitoring system market can be segregated into wired and wireless technologies. The wired technology segment can be further classified into profibus and Ethernet. The wireless technology segment can be further sub-segmented into cellular, wireless LAN, and zigBee. Based on sector, the market can be segmented into transmission and distribution. In terms of industry, the substation monitoring system market can be segregated into steel, oil & gas, transportation, and mining. Based on geographic region, the substation monitoring system market can be segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. Asia Pacific is expected to dominate the substation monitoring system market due to the rising demand for reduction in transmission and distribution losses in developing countries such as India and government initiatives taken for electric monitoring systems in such countries.

Key players operating in the global substation monitoring system market include ABB, Siemens, Cadillac Automation and Controls, Cisco, Schneider Electric, Emerson Electric, Honeywell, General Electric, Eaton, Schweitzer Engineering Laboratories, Crompton Greaves, Novatech, Schweitzer Engineering Laboratories, and Sentient Energy. These players are vigorously involved in organic and inorganic growth strategies in order to gain competitive advantage in the market. Partnerships, collaborations, agreements, and new product launches are some of the vital strategies followed by them.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

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The study is a source of reliable data on:

Market segments and sub-segments
Market trends and dynamics
Supply and demand
Market size
Current trends/opportunities/challenges
Competitive landscape
Technological breakthroughs
Value chain and stakeholder analysis
The regional analysis covers:

North America (U.S. and Canada)
Latin America (Mexico, Brazil, Peru, Chile, and others)
Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
Eastern Europe (Poland and Russia)
Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

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Highlights of the report:

A complete backdrop analysis, which includes an assessment of the parent market
Important changes in market dynamics
Market segmentation up to the second or third level
Historical, current, and projected size of the market from the standpoint of both value and volume
Reporting and evaluation of recent industry developments
Market shares and strategies of key players
Emerging niche segments and regional markets
An objective assessment of the trajectory of the market
Recommendations to companies for strengthening their foothold in the market

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