1. Market Research
  2. > Energy & Environment
  3. > Energy
  4. > Electric Power Market Trends
Substation Monitoring System Market by Component, Communication Technology, Sector, Industry and Geography - Global Forecast to 2023

Substation Monitoring System Market by Component, Communication Technology, Sector, Industry and Geography - Global Forecast to 2023

  • October 2017
  • 168 pages
  • ID: 5160303
  • Format: PDF

Summary

Table of Contents

Search Inside

“Substation monitoring system market expected to grow at a significant rate between 2017 and 2023”
The substation monitoring system market is expected to grow at a CAGR of 7.8% between 2017 and 2023 and would be worth USD 3.32 billion by 2017. The key factors driving the growth of the substation monitoring system market are the development strategies implemented by the players operating in the substation monitoring system, such as contracts and agreements, product launches and developments, partnerships, and expansions, as well as the growing demand for reduction in transmission and distribution losses, aging infrastructure, need for increasing the government support, development in the IEC 61850 standard to enable interoperability between IEDs, and improving IoT-based communication network. However, the major restraining factors for the growth of this market are high capital expenditure for installations of wireless sensor networks and increasing cost of installations of IEDs in substation.

“Hardware component expected to hold a larger share of the substation monitoring system market during the forecast period”

The hardware component is expected to hold a larger share of the overall substation monitoring system market owing to its uses in the utility, steel, oil & gas, mining, and transportation industries for building the monitoring platform. Moreover, the hardware components are the devices, which help to control, measure, transmit, and analyze the data in the process and non-process industries. The hardware devices such as distribution network feeders, smart sensors, microcontrollers, cameras, and intelligent electronic devices (IEDs) are inbuilt in the electrical substations for online monitoring purposes. Owing to this, real-time information is collected with the help of these devices, which helps in increasing the chances of getting uninterrupted power supply in the industries. As a result, the hardware component is expected to hold a larger share of the substation monitoring system market during the forecast period.

“Utility industry expected to hold the largest share of the overall substation monitoring system market in 2017”
Growing demand for reduction in transmission and distribution losses has created a demand for substation monitoring system in the industries. Utility is the largest industry in the substation monitoring system market. Utility includes non-renewable and renewable sources of energy to fulfill the demand for electricity. The non-renewables sources include coal, crude oil, natural gas, and nuclear, which is used for power generation. Renewable sources include solar, wind, water, and others for electricity generation. The increasing number of program launches related to demonstrating and subsidizing solar farm projects in Asian countries, such as India, China, Japan, Australia, South Korea, and Africa, is driving the growth of the substation monitoring system market for the utility industry.

“Substation monitoring system market in Asia Pacific expected to grow at the highest rate during the forecast period”
The substation monitoring system market in Asia Pacific (APAC) is expected to grow at the highest CAGR between 2017 and 2023. The substation monitoring system market in emerging economies, such as China, India, and South Korea, is expected to grow at the highest CAGR because of the rising need for power management and monitoring services for reducing transmission and distribution losses among various industries such as utility, steel, mining, transportation, and oil & gas. China, Japan, and South Korea are the major countries driving the growth of the substation monitoring system market in APAC. The governments of these countries are investing heavily in implementing monitoring services of electrical substations.

Following is the break-up of the profiles of primary participants for the report:
• By Company: Tier 1 – 55%, Tier 2 – 25%, and Tier 3 – 20%
• By Designation: C-Level Executives – 50%, Directors – 25%, and Managers – 25%
• By Region: North America – 60%, Europe – 10%, APAC – 20%, and RoW – 10%.

The key players operating in the substation monitoring system market are ABB (Switzerland), Honeywell (US), Siemens (Germany), Schneider Electric (France), Emerson Electric (US), General Electric (US), Eaton (Ireland), Schweitzer Engineering Laboratories (US), NovaTech (UK), Crompton Greaves (India), iGrid T&D (Spain), Sentient Energy (California), Cadillac Automation and Controls (India), TEKVEL (Russia), and i-TOR (Russia).

Research Coverage:
In this research report, the substation monitoring system market is segmented on the basis of component, communication technology, sector, industry, and region. The market has been segmented based on component into hardware and software. Hardware is further divided into distribution network feeders, smart sensors, microcontrollers, cameras, and intelligent electronic devices (IEDs). Software is divided into asset management, production management, and performance management. Based on communication technology, the substation monitoring system market has been classified into wired and wireless. Based on sector, the market has been classified into transmission and distribution. The market has been segmented by industry into utility, steel, mining, transportation, and oil & gas. Utility industry is further divided into renewable and non-renewable.

Key Benefits of Buying the Report:
Illustrative segmentation, analysis, and forecast of the substation monitoring system market based on component, communication technology, sector, industry, and region have been provided to present an overall view of this market.
The value chain analysis is provided for in-depth insight into the substation monitoring system market.
The major drivers, restraints, opportunities, and challenges in the substation monitoring system market have been detailed in this report.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.
Ahmad helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at researchadvisor@reportlinker.com to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - researchadvisor@reportlinker.com or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers
2018 Future of Modular Substation Market Outlook to 2025

2018 Future of Modular Substation Market Outlook to 2025

  • $ 4580
  • April 2019

2018 Future of Modular Substation Market Outlook to 2025- Growth Opportunities, Competition And Outlook Of Trailer Mounted and Fixed Modular Substation Market across Different Applications and Regions ...

2019 Future of Combination Starter Market Outlook to 2025- Growth Opportunities, Competition And Outlook Of Reversing and Non

2019 Future of Combination Starter Market Outlook to 2025- Growth Opportunities, Competition And Outlook Of Reversing and Non

  • $ 4580
  • March 2019

2019 Future of Combination Starter Market Outlook to 2025- Growth Opportunities, Competition And Outlook Of Reversing and Non- Reversing Combination Starters Market across Different Applications and Regions ...

Transformer Report Ed 7 2019

Transformer Report Ed 7 2019

  • $ 4936
  • February 2019

The 7th edition of the Transformer Report sizes demand for power and distribution transformers in base year 2018 and forecasts sales from 2018 to 2025. Generator Transformers, Power Network Transformers, ...


ref:plp2017

Reportlinker.com © Copyright 2019. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on