As the standard of living has increased, the demand for basic amenities such as water, electricity, utilities have become essential. The increasing demand for electricity to run electronic goods has created high pressure on the electricity department to efficiently supply the correct amount of electricity everywhere as per the demand. This has led to the adoption of substation automation system that can automate the tasks performed at the substation.
A substation automation system provides control, monitoring, protection and other capabilities at the substation. The substation automation system helps in detecting the fault location in the distribution systems that help in electricity distribution. The substation automation system helps in minimizing outages. Such factors are fueling the adoption of substation automation system in the market.
Vendors in the substation automation system market are focusing on increasing the system productivity with reduced cost and increased customer satisfaction. Vendors in the substation automation system market are also focusing on providing solutions that can easily be implemented in existing infrastructure and can increase the plant productivity. Increasing research and development to add new features in the substation automation system is one of the key trends in the substation automation system market.
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Substation Automation System Market: Drivers and Restraints
The substation automation system allows automatic super visioning of interlocks and provides an intelligent interlocking system. The substation automation system also provides various alarms and warning for users’ protection and safety. The adoption of a substation automation system provides major cost savings and simplifies the task of maintenance and support.
Such factors are driving the adoption of substation automation system in the market. The substation automation system automates all the tasks, thereby, improving the productivity and asset management. The substation automation system also provides high-security control and improves the process of information management. Such factors are further driving the growth of the substation automation system.
The substation automation system requires up gradation in existing infrastructure to automate the process. This requires high investment to setup and install substation automation systems. Thus, high installation and setup cost and regular requirement of support and maintenance are hampering the growth of the substation automation system in the market. In order to operate a substation automation system, certain skills are required, and the absence of such skilled labor is restraining the adoption of substation automation system. Such factors are furthermore hampering the growth of the substation automation system market.
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Substation Automation System Market: Segmentation
The substation automation system market can be categorized on the basis of components, and the type of substation. On the basis of components, the demand for controllers & remote terminal units is expected to rise exponentially due to the rising need for substation data acquisition & control. On the basis of type of substation, the demand for substation automation system in distribution substation will increase in order to optimize the process of power distribution.
Substation Automation System Market: Competitive Landscape
Examples of some of the key players operating in the Substation Automation System market are Operation Technology, Inc., ABB Ltd., Crompton Greaves, Schneider Electric, Elipse Software, Power System Engineering, Inc., General Electric, Netcontrol Group, SAE IT-systems GmbH & Co. KG, Siemens Industry, Inc. and Eaton Corporation Plc .
The substation automation system market is segmented across North America, Latin America, Western Europe, Eastern Europe, China, SEA and others of APAC, Japan and Middle East & Africa. Europe is expected to be a large market for Substation Automation System as a majority of the Substation Automation System vendors such as ABB Ltd., Schneider Electric SE and Eaton Corporation Plc. are based in the region. Increasing demand for full-time electricity is driving the adoption of substation automation system in North American countries, such as the United States.
The growing popularity of Substation Automation System in developing regions, such as APEJ, Latin America and parts of Africa, is characterized by the increasing government initiative to supply power in all the areas in the regions constantly. Rising disposable income among people in the countries mentioned above is likely to increase the scope of penetration of substation automation system in these regions in the near future.
The research report presents a comprehensive assessment of the Substation Automation System market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application and industry.
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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.