Substation Automation Market Revenue is Projected to Reach $185.80 Billion By 2024

Emergence of Smart Cities to Benefit the Substation Automation Market Growth Till 2024

“The growing advancements in the smart grid technology are increasing the scope for SCADA systems. The primary factors leading to the rising adoption of the smart grid technology include improved reliability, efficiency, and sustainability of the existing power systems�

The global substation automation market size is expected to reach USD 185.80 billion by 2024 according to a new report by Grand View Research, Inc. The increasing requirement for operation efficiency, improved quality, increased production, high uptime, and ease of monitoring and controlling the industrial process are factors that are expected to contribute to the industry growth.

Access Full Research Report on Global Substation Automation Market : http://www.grandviewresearch.com/industry-analysis/substation-automationmarket The growing advancements in the smart grid technology are increasing the scope for SCADA systems. The primary factors leading to the rising adoption of the smart grid technology include improved reliability, efficiency, and sustainability of the existing

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power systems. They are widely used in automation technologies, which actively monitor transmission and distribution grids.

The energy and power utilities are focusing on minimizing the distribution and transmission losses, which has resulted in the increasing deployment of substation automation, driving the industry growth. Moreover, utilities across the world are facing a high requirement for improved electric service reliability and stability. They are focusing on improving the resiliency of the grid, which is contributing toward the high industry demand.

Further key findings from the study suggest: 

Programmable Logic Controllers (PLCs) are expected to witness a considerable growth at a CAGR of nearly 3% over the forecast period owing to the technological advancements. Developments such as miniaturization, low cost, and improved power have led to an increased adoption of PLC systems.

Moreover, the surge in the technology and pricing innovation in the PLC industry, owing to the intense competition among the tier-one companies and rising customer demand, is anticipated to drive the industry over the forecast period.

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Furthermore, the communication channel segment is expected to witness an extensive growth at a CAGR of over 9% from 2016 to 2024. The rising demand for advanced communication capabilities to communicate across remote areas with an improved overall efficiency of power utilities is the major factor boosting the segment growth.

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The SCADA segment is estimated to grow at a considerable CAGR of over 9% from 2016 to 2024, owing to the increasing advancements in the smart grid technology. The primary factors leading to the rising adoption of the smart grid technology include improved reliability, efficiency, and sustainability of the existing power systems. The rising demand for the multi-touch SCADA technology across verticals such as industrial and manufacturing is further expected to spur the industry growth over the forecast period.

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Copper wire communication was a prominent communication channel, accounting for a revenue share of around 42% in 2015. The copper wire communication has observed a high adoption owing to the low initial cost of

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copper base metal. However, it is anticipated to lose market share due to the emergence of advanced communication platforms, such as the Ethernet and optical fiber communication. The optical fiber communication segment is expected to grow at a CAGR of nearly 10% over the next eight years. The optical fiber used in the substation automation provides advantages such as immunity to EMI/RFI; secure data communications, and a higher bandwidth that supports higher data rates over long distances. 

North America dominated the market with a significant revenue share of over 32% in 2015. However, emerging countries such as China and India are anticipated to drive the substantial demand in this region, owing to the increasing demand for energy efficiency and smart power infrastructure. The automation technology has become an integral part of the power systems worldwide. It is expected to drive power transmission and distribution, contributing to the market growth. Europe is anticipated to witness a considerable growth owing to the increasing demand for smart grid solutions in Western Europe.

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The key industry players include ABB Ltd., Cisco Systems, Inc., Crompton Greaves Ltd., Eaton Corporation Plc., General Electric Company, Larsen & Toubro Limited, Siemens AG, Schneider Electric SE, Trilliant Holdings, Inc., and Venson Electric Pvt. Ltd. The manufacturers in the market are investing profoundly in developing advanced solutions and focusing on the potential opportunities in the industry.

Grand View Research has segmented the global substation automation market on the basis of component, module, communication channel, and region: Read Our Blogs on Reports from this category By Grand View Research: http://www.grandviewresearch.com/blogs/technology Table of Content of Global Substation Automation Market Research Report: Chapter 1. Methodology and Scope 1.1. Research Methodology 1.2. Research Scope & Assumption 1.3. List of Data Sources

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Chapter 2. Executive Summary 2.1. Substation Automation - Industry snapshot and key buying criteria, 2014 - 2024 Chapter 3. Substation Automation Industry Outlook 3.1. Market segmentation 3.2. Market size and growth prospects 3.3. Substation automation value chain analysis 3.3.1. Vendor landscape 3.4. Substation automation market dynamics 3.4.1. Market driver analysis 3.4.1.1. Emergence of smart cities to benefit the substation automation market 3.4.1.2. Growing demand for the smart grid solution 3.4.2. Market restraint analysis 3.4.2.1. Lack of global standards 3.5. Key opportunities prioritized 3.6. Industry analysis - Porter's 3.7. Substation automation - Key competitor analysis, 2015 3.7.1. Market strategy overview 3.8. Substation automation market PESTEL analysis, 2015 Chapter 4. Substation Automation Component Outlook 4.1. Recloser controller 4.1.1. Global market estimates and forecasts, 2014 - 2024 4.2. Programmable logical controller 4.2.1. Global market estimates and forecasts, 2014 - 2024 4.3. Capacitor bank controller 4.3.1. Global market estimates and forecasts, 2014 - 2024

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4.4. Digital transducer/smart meter 4.4.1. Global market estimates and forecasts, 2014 - 2024 4.5. Load tap controller 4.5.1. Global market estimates and forecasts, 2014 - 2024 4.6. Communication channel 4.6.1. Global market estimates and forecasts, 2014 - 2024 4.7. Digital relays 4.7.1. Global market estimates and forecasts, 2014 - 2024 4.8. Others 4.8.1. Global market estimates and forecasts, 2014 - 2024 Chapter 5. Substation Automation Module Outlook 5.1. SCADA 5.1.1. Global market estimates and forecasts, 2014 - 2024 5.2. IEDs 5.2.1. Global market estimates and forecasts, 2014 - 2024 5.3. Communication network 5.3.1. Global market estimates and forecasts, 2014 - 2024 Chapter 6. Substation Automation Communication Channel Outlook 6.1. Ethernet 6.1.1. Global market estimates and forecasts, 2014 - 2024 6.2. Power line communication 6.2.1. Global market estimates and forecasts, 2014 - 2024 6.3. Copper wire communication 6.3.1. Global market estimates and forecasts, 2014 - 2024 6.4. Optical fiber communication 6.4.1. Global market estimates and forecasts, 2014 - 2024 Chapter 7. Substation Automation Regional Outlook

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7.1. North America 7.1.1. Substation automation market by component, 2014 - 2024 7.1.2. Substation automation market by module, 2014 - 2024 7.1.3. Substation automation market by communication channel, 2014 2024 7.2. Europe 7.2.1. Substation automation market by component, 2014 - 2024 7.2.2. Substation automation market by module, 2014 - 2024 7.2.3. Substation automation market by communication channel, 2014 2024 7.3. Asia Pacific 7.3.1. Substation automation market by component, 2014 - 2024 7.3.2. Substation automation market by module, 2014 - 2024 7.3.3. Substation automation market by communication channel, 2014 2024 7.4. Latin America 7.4.1. Substation automation market by component, 2014 - 2024 7.4.2. Substation automation market by module, 2014 - 2024 7.4.3. Substation automation market by communication channel, 2014 2024 Chapter 8. Competitive Landscape 8.1. ABB Ltd. 8.1.1. Company Overview 8.1.2. Financial Performance 8.1.3. Product Benchmarking 8.1.4. Strategic Initiatives 8.2. Cisco Systems, Inc.

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8.2.1. Company Overview 8.2.2. Financial Performance 8.2.3. Product Benchmarking 8.2.4. Strategic Initiatives 8.3. Crompton Greaves Ltd. 8.3.1. Company Overview 8.3.2. Financial Performance 8.3.3. Product Benchmarking 8.3.4. Strategic Initiatives 8.4. Eaton Corporation Plc. 8.4.1. Company Overview 8.4.2. Financial Performance 8.4.3. Product Benchmarking 8.4.4. Strategic Initiatives 8.5. General Electric Company 8.5.1. Company Overview 8.5.2. Financial Performance 8.5.3. Product Benchmarking 8.5.4. Strategic Initiatives 8.6. Larsen & Toubro Limited 8.6.1. Company Overview 8.6.2. Financial Performance 8.6.3. Product Benchmarking 8.6.4. Strategic Initiatives 8.7. Schneider Electric SE 8.7.1. Company Overview 8.7.2. Financial Performance

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8.7.3. Product Benchmarking 8.7.4. Strategic Initiatives 8.8. Siemens AG 8.8.1. Company Overview 8.8.2. Financial Performance 8.8.3. Product Benchmarking 8.8.4. Strategic Initiatives 8.9. Trilliant Holdings, Inc. 8.9.1. Company Overview 8.9.2. Financial Performance 8.9.3. Product Benchmarking 8.9.4. Strategic Initiatives 8.10. Verson Electric Pvt. Ltd. 8.10.1. Company Overview 8.10.2. Financial Performance 8.10.3. Product Benchmarking 8.10.4. Strategic Initiatives About Grand View Research, Inc.: Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

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Contact: Sherry James Corporate Sales Specialist, USA Grand View Research, Inc Phone: 1-415- 349-0058 Toll Free: 1-888- 202-9519 Email: sales@grandviewresearch.com For More Information: http://www.grandviewresearch.com/

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