What is Substation Monitoring System?
As the Power demand increases, the role of grid systems becomes more than important in economical and efficient power transmission. Substation Monitoring Systems help in monitoring and managing grids with help of cameras, sensors, intelligent electronic devices, microcontrollers and software. They help in evolution of traditional grids into smart grids, resulting in sustainable power transmission qualities. Increasing number of cyber-attacks on power grids has also called for emergency adoption of smart substation monitoring systems, for countering any external cyber threats. This systems also help in reducing the power wastage caused due to inefficient transmission. Geographically, Asia Pacific is expected to become largest market over the coming decade owing to large investments in power infrastructure.
The market study is broken down, by Application (Oil & Gas, Steel, Utility, Mining and Transportation) and major geographies with country level break-up.
Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Siemens (Germany), Schneider Electric (France), ABB Ltd. (Switzerland), Honeywell (United States), General Electric (United States), Emerson Electric (United States), NovaTech (United Kingdom), Eaton (Ireland), Cisco Systems, Inc. (United States) and Schweitzer Engineering Laboratories (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Crompton Greaves (India), Cadillac Automation and Controls (India) and Sentient Energy, Inc. (United States).
AdvanceMarketAnalytics has segmented the market of Global Substation Monitoring System market by Type, Application and Region.
On the basis of geography, the market of Substation Monitoring System has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Technology, the sub-segment i.e. Wired will boost the Substation Monitoring System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End Use, the sub-segment i.e. Oil and Gas will boost the Substation Monitoring System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component, the sub-segment i.e. Software will boost the Substation Monitoring System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Offerings, the sub-segment i.e. Transmission will boost the Substation Monitoring System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
In 2019, G&W Electric, US based Firm providing engineering solutions for power utility companies, as well as commercial and industrial solutions has announced acquisition of Altea S.R.L., which is an Italian Sensor manufacturer specialising in Current and Voltage Sensors. Both the companies being strategic partnership for over 8 years, share high synergies. The acquisition will help G&W Electric to expand its presence outside North America as well as bolster its smart grid solutions.
In 2021, Sentient Energy, Inc., subsidiary of Koch Engineered Solutions company, providing smart energy solutions for the power utilities has announced acquisition of key assets of Varentec, Inc. US based Varentec is a Grid Management Solutions Provider. The acquired assets include grid edge intelligence and dynamic control technologies. This acquisition will help Sentient provide comprehensive grid solutions to power utility companies.
- Power Utilities Accounts for Largest Market Share
- Increasing Investment in Grid Up-gradation and Smart Grid Systems
- Enhanced Focus on Improving the Efficiency of Grid Systems
- Integration of Advanced Sensors Presents Excellent Opportunity to Attain an Edge over the Market
- High Initial Cost of Setup Associated with Substation Monitoring System Infrastructure
- Rising Number of Cyber Attacks on Electricity Grids as well as Oil and Gas Lines
- Requires Regular Maintenance Services
Key Target AudienceSubstation Monitoring System Providers, Component Suppliers, New Entrants/Investors, Venture Capitalists and Private Equity Firms and End-Use Industries
About ApproachTo evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.
Frequently Asked Questions (FAQ):
1. What all players are profiled in the study?
The standard version of the report profiles players such as Siemens (Germany), Schneider Electric (France), ABB Ltd. (Switzerland), Honeywell (United States), General Electric (United States), Emerson Electric (United States), NovaTech (United Kingdom), Eaton (Ireland), Cisco Systems, Inc. (United States) and Schweitzer Engineering Laboratories (United States) etc.
2. What would be the Market Size of Substation Monitoring System Market by 2026?
Analysts at AMA estimates Substation Monitoring System Market to reach USDXXX by 2026.
3. Can we have customized study for Substation Monitoring System Market?
The Study can be customized subject to feasibility and data availability. Please connect with our sales representative for further information.