The Global Market for Substation Automation and Integration is Projected to Reach US$122 Billion by 2020

Rising Investments in Smart Grids Drives the Global Substation Automation and Integration Market, According to a New Report by Global Industry Analysts, Inc.

GIA announces the release of a comprehensive global report on Substation Automation and Integration. The global market for Substation Automation and Integration is projected to reach US$122 billion by 2020, driven by the rising investments in smart grid technology and increasing demand for intelligent electronics devices (IEDs) such as smart meters.

Substation automation and integration represents a prominent part of the smart grid rollout. Thousands of electric power transmission and distribution substations are undergoing automation with the integration of capabilities such as advanced communications, data acquisition and collection, advanced control and protection, and remote sensing and monitoring. Substation integration refers to assimilating data from various intelligent electronics devices (IEDs) using hardware and software for convergence to a single point for efficient, enhanced and effective control of the substation equipment. Integration involves secure connection with all the nodes using prescribed communication protocols and standards. Key attributes of substation automation that is driving its widespread adoption include improved grid efficiency, enhanced grid security, regulatory compliant infrastructure, reliable quality power, and reduction in capital, operation, and maintenance expenditure, among others. Minimization of space required and maximization of operational efficiency represent the two primary aims of substation automation. Market expansion is additionally propelled by increasing demand for IEDs such as smart electricity meters, remote terminal units (RTUs), protection relays, programmable logic controllers (PLCs), bay control units (BCUs), monitoring and diagnostic sensors, voltage controls, capacitor bank controls and re-closer controls.

Future growth in the market will be driven by rising investments in smart grid technology and increasing adoption of substations in utilities across the world. Advancements in substation automation electronics including communication and microprocessors technology represents another major factor facilitating improved operational efficiency and enhanced predictive maintenance and planning. Aging substation infrastructure worldwide that needs to be replaced with multifunctional solutions and advanced communication protocols will drive growth in the coming years. Despite the optimistic growth projections for substation automation, the market is expected to face certain challenges in terms of regulatory issues; incompetent technical expertise; huge initial investments involved; and lack of interoperability and universal standards, among others.

As stated by the new market research report on Substation Automation and Integration, the United States represents the largest market with the highest number of automated substations in the world. Growing prominence of smart grid infrastructure that need multifunctional solutions, in compliance with enhanced communication protocols; and aging energy infrastructure represent major growth drivers in the developed markets. Asia-Pacific ranks as the fastest growing market with a CAGR of 9.6% over the analysis period, driven by major electrification projects and increasing trend towards modernization.

Key players covered in the report include ABB Ltd., ABB Tropos Networks Inc., Alstom S.A., Amperion Inc., Beijing Sifang Automation Co. Ltd., Cisco Systems Inc., Eaton Corporation, Encore Networks Inc., Freescale Semiconductor Inc., General Electric Company, Kalki Communication Technologies Private Limited, NovaTech, Open Systems International, Power System Engineering Inc., PROT A.S.I.S SA, Schneider Electric Ltd., Schweitzer Engineering Laboratories Inc., Siemens AG, Toshiba Corporation, and Virelec Ltd., among others.

The research report titled “Substation Automation and Integration: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections for major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Latin America (Brazil, and Rest of Latin America), and Rest of World. Key segments analyzed in the report include Intelligent Electronic Devices (IEDs), and Others. IED components analyzed for the global market include Digital Relays, Programmable Logical Controllers, Load Tap Controllers, Recloser Controllers, Smart Meters, and Others.

Comments

Post a Comment

Popular posts from this blog

The Global Market for Surfing is Projected to Reach US$9.5 Billion by 2022

Rise of Surfing as a Lifestyle Sport Among all Age Groups Drives the Global Surfing Market, According to a New Report by Global Industry Analysts, Inc. GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Surfing market. The global market for Surfing is projected to reach US$9.5 billion by 2022 , driven by the growing interest in surfing both as a leisure and sporting activity, increased accessibility to surfing through surf parks and surf pools and technology innovations focused on developing sophisticated surf-wear and surf-gear.                               Surfing is a surface water sport where a participant riding a board (the surfboard) is carried away by a breaking wave. The surfing industry continues to evolve, driven by sustained efforts of surfing equipment makers, marketers and associations to make surfing much more accessible. Increased accessibility and affordability has drawn si
Read more

The Global Market for Private Tutoring Services is Forecast to Reach US$227 Billion by 2022

Intense Competition among Students and the Growing Need to Achieve Academic Excellence Drive the Global Private Tutoring Market, According to a New Report by Global Industry Analysts, Inc. GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Private Tutoring market. The global market for Private Tutoring Services is forecast to reach US$227 billion by 2022 , driven by the need to keep pace with classroom teaching, improve overall competency and enhance knowledge and skill level. Education is considered the social ladder to achieve success in personal and professional life. Higher education is associated with increased opportunities in the labor market, high remunerations, and improved social standing. People are therefore investing heavily in children’s education, including private tutoring or private supplementary tutoring which is emerging as a major phenomenon in the global education system
Read more
Image
The global market for Material Handling Equipment is projected to reach US$190.3 billion by 2025, driven by the strong emphasis shed on production and operational efficiency and worker safety. The concept of “last mile” is widely popularized in supply chain management and transportation planning for its ability to increase customer satisfaction and profitability. Automation, optimization and delivery route planning are therefore vital strategies adopted by companies to improve their last mile performance. Of equal importance are the “first mile” operations involving indoor material handling on the plant floor. Raw material being the primary and most importance element in manufacturing needs to move through multiple stages of production and final packaging in a smooth and seamless manner to prevent logistical bottlenecks in production. Timely handling of materials is important to ensure that right materials in right quantities are delivered to the right locations at the right ti
Read more