Substation Monitoring Market Revenue, Region, Country, and Segment Analysis & Sizing For 2030
Substation Monitoring Market
Overview:
Substation
Monitoring Market is projected to be worth USD 8.17
billion, registering a CAGR of 8.75% during the forecast period 2022-2030. The
Substation Monitoring Market was valued at USD 4.62 billion in 2021.
The substation monitoring system can be structured in three levels.
First level involves Data acquisition from each asset through appropriated
sensor. Second level involves Data storage and processing at substation level,
and third level involves Integration of the data from different substations
into the general maintenance management system of the
utility.
Substation monitoring systems are
able to provide valuable insights on the functioning of transmission and
distribution network in an electrical grid. It can support remote monitoring
amid the rapid automation of processes and lower maintenance expenses.
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|
Report
Attribute/Metric |
Details |
|
Market Size |
2030: USD 8.17 billion |
|
CAGR |
8.75% CAGR (2022-2030) |
|
Base Year |
2021 |
|
Forecast Period |
2022-2030 |
|
Historical Data |
2019 & 2020 |
|
Forecast Units |
Value (USD Billion) |
|
Report Coverage |
Revenue Forecast, Competitive
Landscape, Growth Factors, and Trends |
|
Segments Covered |
Component, Communication
Technology, Sector, and Industry |
|
Geographies Covered |
North America, Europe,
Asia-Pacific, and the Rest of the World (RoW) |
Market Segmentation
The global substation monitoring
market has been segmented by component, communication technology, sector, and industry.
·
By
component, it is segmented into hardware, distribution network feeders, and
software.
·
By
communication technology, it is divided into wired and wireless. The former is
further segmented into Ethernet, fiber optic, and PROFIBUS, while the latter is
segmented into cellular technology, ZigBee, and Wi-Fi.
·
By
sector, it is divided into distribution and transmission.
· Based on industries, the market has been classified into oil & gas, mining, utility, steel, transportation, and others. Utility segment is leading the market owing to the increasing implementation of substation monitoring system for reduction in transmission and distribution losses as well as ageing infrastructure of electric substations.
Regional
Segmentation:
- North
America
- Asia-Pacific
- Europe
- Middle
East & Africa
- South
Africa
Competitive Outlook
Cisco, Emerson Electric, Cadillac Automation
and Controls, Eaton, Sentient Energy, Schneider Electric, Crompton Greaves, Emerson
Electric, Igrid T&D, Tekvel, General Electric, Novatech, Siemens AG, Schweitzer
Engineering Laboratories, ABB Ltd., Honeywell, I-TOR, and others are prominent
names in the global substation monitoring market.
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