Substation Automation Market is Reached USD 60.15 billion By 2030 With A CAGR of 8.66% | North America will keep driving market expansion

Substation Automation Market Insights

The size of the Substation Automation Market was estimated in 2022 at USD 27.29 billion. From USD 30.94 billion in 2023 to USD 60.15 billion in 2030, the substation automation market is anticipated to expand at a compound annual growth rate (CAGR) of 8.66%. (2023 – 2030). The term “substation automation” describes the incorporation of digital technology into substations within the transmission and distribution network for electrical power.

Substation automation aims to increase the electrical grid’s dependability, effectiveness, and safety. Advanced control systems, communication networks, and sensors are used to do this, allowing for real-time monitoring and control of the substation equipment. These systems’ data are evaluated to find possible difficulties and stop problems before they start. Substation automation systems also enable remote substation monitoring and management, obviating the requirement for human inspection and maintenance. Modern electrical power grids need substation automation technologies because they may increase system performance, decrease downtime, and lower maintenance costs.

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Substation Automation Market Key Players:

Important players include-

• Alcatel Lucent
• Kapsch AG
• Indra Sistemas SA
• LG CNS
• Siemens AG
• Cisco
• Kapsch TrafficCom
• Xerox Corporation
• Huawei (China)

Regional Perspectives

The analysis offers market information for each region separately, including North America, Europe, Asia-Pacific, and the Rest of the World. One of the market’s top regions, North America is anticipated to maintain its dominance over the future years. Some of the biggest electric utilities and energy providers in the world, as well as a large number of cutting-edge technology firms with a focus on substation automation, are all based in the North American area. The area is a strong market for substation automation since it has a highly developed electrical power system and a long history of investing in cutting-edge technology. The North American market is also distinguished by a strong emphasis on innovation and a dedication to enhancing the effectiveness, dependability, and safety of power supply.

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As a consequence, it is anticipated that North America will keep driving market expansion.

Substation Automation Market Segments

Load tap controller, Smart metre, Capacitor bank controller, Recloser controller, and Others are included in the market segmentation based on component. In 2022, the Smart metre sector accounted for the lion’s share of income from Substation Automation worldwide. Modern metres known as “smart metres” enable real-time monitoring and management of power consumption. They provide two-way communication between the substation and the metre, enabling remote power supply monitoring and management.

Optical fibre communication channels, Power line communication channels, Copper wire communication channels, Ethernet, and Others are all included in the market segmentation based on communication. In 2022, the Ethernet market segment was the dominant one.

Ethernet is a commonly utilised kind of communication that is becoming more significant in the industry. The substation automation system’s many components can exchange data thanks to Ethernet’s quick and dependable communication network.

The market is divided into three categories based on the module: communication networks, intelligent electronics, SCADA, and others. In 2022, the market was mostly controlled by the communication networks sector. Networks of communication are used to link various components, including sensors, actuators, and control systems, and to provide real-time data on the condition of the substation. Moreover, they are employed to transmit control signals, enabling remote operation of the substation by the operators.

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The capacity of communication networks to increase the effectiveness, dependability, and safety of the electrical power grid has led to their widespread implementation in substations.

The steel industry, mining industry, transportation sector, utility industry, and others are all included in the market segmentation based on end-user. Throughout the projection period, 2023-2030, the utility industry segment is anticipated to increase at a higher rate than any other sector. The utility sector is in charge of maintaining the electrical power system and includes the production, transmission, and distribution of electrical energy. The market for utilities is expanding as a result of rising energy consumption as well as the need to increase supply efficiency, dependability, and safety.

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