Global Substation Automation Market is projected to grow USD 62.5 billion by 2030 at a CAGR of 6.3%

The Global Substation Automation Market is projected to grow from USD 39.9 billion in 2021 to USD 62.5 billion by 2030 at a CAGR of 6.3% during the forecast period. As part of a full substation control and monitoring solution, substation automation includes control, protection, automation, monitoring, and communication capabilities. It refers to the ability to regulate and automate substation capabilities as well as power system components using commands from distant users. The usage of technology such as specialized software, unique sensors, and equipment that facilitates two-way communication is required to automate energy substations.

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The "Substation Automation Market Analysis to 2030" is a comprehensive and in-depth examination of the Substation Automation sector with a focus on the Substation Automation market trend. The purpose of this study is to provide a complete market segmentation by component, application, end-user, and geography, as well as a market overview for Substation Automation. The Substation Automation market is predicted to grow substantially during the forecast period. The study examines key industry trends and prospects, as well as key statistics on the market status of the industry's leading competitors.

COVID-19 ANALYSIS

During the COVID-19, the governments around the world reduce expenditure in many sectors in order to focus more on upgrading healthcare infrastructure, demand for substation automation products and solutions from national grid projects is likely to decline. Furthermore, because commercial areas in most parts of the world will be operating at a greatly reduced capacity in 2020 and 2021, power consumption is predicted to drop significantly, and electric utilities may face a delay in modernizing their grid infrastructure. All of these reasons are projected to have a negative influence on the market for substation automation.

Key Market Player :-

ABB Ltd. (Switzerland)
Trilliant Holdings Inc. (U.S.)
ALSTOM (France)
Schneider Electric. (France)
Cisco Systems, Inc. (U.S.)
Siemens (Germany)
Eaton. (Ireland)
GE Energy Management (U.S.)
Itron, Inc. (U.S.)
Echelon Corporation (U.S.)

The current market data introduces the Substation Automation Industry's serious structure in order to aid players in investigating the serious structure for growth and profit. According to the highlights of this analysis, market share varies by product type, application, player, and area. Benefits estimation for all market segments and sub-sectors, as well as the consumption ratio.

Market Segmentations:

By Types:

SCADA
IED
Communication Network Technology

By Applications:

Ethernet
Power Line Communication
Copper Wire Communication
Optical Fiber Communication

Key Deliverables of Global Substation Automation Research Report are mentioned below:

Each application's remuneration analysis is covered.
During the years 2022-2028, market share per Substation Automation application is expected to increase. The same is covered in terms of consumption.
Substation Automation Market drivers are discussed in order to improve the commercialization matrix and therefore the business sector.
The report includes vital information on challenges, dangers, major players' SWOT analyses, and market share.
Consumption rates in the Substation Automation Industry are covered for important regions like as North America, Europe, Asia-Pacific, Middle East and Africa, South America, and the rest of the world.

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Research Methodology of Implied For This Market:

Data about parent and peer Substation Automation Market is gathered through primary and secondary research methods. Market size, revenue share, supply-demand scenario, and other key facts are validated by industry experts from across the value chain. In order to determine the total market size and share, a top-down and bottom-up technique is used. To acquire information on supply and demand elements, important thought leaders in the Substation Automation market such as marketing directors, VPs, CEOs, technology directors, and R&D managers are interviewed.

Information for secondary data sources comes from investor reports, annual reports, press releases, government and company databases, certified journals, publications, and a variety of other third-party sources.