Substation Automation Market Expected to Reach $154,876
Million by 2022
“Substation automation is an important part of electricity transmission as it controls and provides
automation functions needed to build a smarter, and more reliable power grid. Increasing demand for
electricity mostly from developing countries, rise in adoption of smart grids, and need for upgradation of
power networks are the major factors that drives the substation automation market. Numerous leading
players focus on R&D to enhance their technical expertise and product portfolio.”
According to Komal Sharma,
Semiconductor and Electronics
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KEY FINDINGS OF THE STUDY
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In 2015, communication channel led the overall substation automation market, and is projected
to grow at a CAGR of 10.9% during the forecast period.
IEDs led the overall market in 2015, and is projected to grow at a CAGR of 3.3%.
Power line communication technology segment is expected to grow at a significant CAGR of 8.8%.
Major key players profiled cover in Report:
Market dynamics
Drivers
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Increasing Electricity Demand Throughout The Globe
High Demand For Smart Grids
Need For Up-gradation Of Existing Networks
Restraints
• Cyber Attack: A Major Challenge To Substation Automation
Opportunities
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Utilization Of Renewable And Non-conventional Energy Sources
⦁ Report Overview:
https://www.alliedmarketresearch.com/substation-automation-market
Analyst Review:
Substation automation market holds a substantial scope for growth globally. High electricity demand,
increasing share of renewable energy as well as replacement of old substation units provide exclusive
opportunities for growth of this market. However, no power system is complete without substations and
hence most of governments are providing initiatives to setup smart grids. Major segments in substation
automation module market are SCADA, IEDs, and communication networks. IEDs occupy major market
share owing to their widespread availability and utilization. Substation automation market is dominated
by few key players; however, ever-increasing electricity demand provides opportunities for new players
once they overcome the technological barriers.
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