Substation Automation Market: Industry Perspective, Size, Share and Forecast 2026


Posted December 22, 2020 by Monikakale

The Substation Automation Market is anticipated to reach around USD 207.8 billion by 2026 according to a new research published by Polaris Market Research

 
The Substation Automation Market is anticipated to reach around USD 207.8 billion by 2026 according to a new research published by Polaris Market Research. In 2017, the Intelligent Electronic Devices segment dominated the substation automation global market, in terms of revenue. North America is expected to be the leading contributor to the global market revenue during the forecast period.

The growing adoption of smart cities, along with high demand of smart grids has boosted the adoption of substation automation. The rising demand for electricity, and growing demand for efficient and low-cost solutions in the solar energy sector further support the growth of substation automation market. Increasing investments by vendors in technological advancements, growing need to update existing networks, and increasing demand for retrofitting conventional substations would accelerate the adoption of substation automation during the forecast period. Growing demand from emerging economies, increasing adoption smart grid applications, and technological advancements are expected to provide numerous growth opportunities in the coming years.

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North America generated the highest revenue in the market in 2017, and is expected to lead the global substation automation market throughout the forecast period. The presence of established telecom and cloud infrastructure in this region, and growing trend of smart cities drive substation automation market growth in the region. The growing demand from energy sector, and technological advancements further support market growth in the region. The use of smart technologies in energy and utilities, industrial automation, and intelligent buildings is expected to support substation automation market growth in this region during the forecast period.

The companies operating in substation automation market include Schneider Electric SE, Cisco Systems, ABB Ltd., Siemens AG, Eaton Corporation Plc., General Electric, Honeywell International, Inc., Larsen & Toubro Limited, Crompton Greaves, and Schweitzer Engineering Laboratories, Inc. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.

Complete Summary with TOC Available @ https://www.polarismarketresearch.com/industry-analysis/substation-automation-market
• Substation Automation Market Size and Forecast by Module, 2018-2026
o Communication Networks
o Scada Systems
o Intelligent Electronic Devices
• Substation Automation Market Size and Forecast by Component, 2018-2026
o Hardware
o Software
o Services
• Substation Automation Market Size and Forecast by Type, 2018-2026
o Distribution Substations
o Transmission Substations
• Substation Automation Market Size and Forecast by Communication Channel, 2018-2026
o Optical Fiber Communication
o Ethernet
o Copper Wire Communication
o Others
• Substation Automation Market Size and Forecast by Region, 2018-2026
o North America
 US.
 Canada
 Mexico
o Europe
 Germany
 UK
 France
 Italy
 Rest of Europe
o Asia-Pacific
 China
 India
 Japan
 Rest of Asia-Pacific
o Latin America
 Brazil
 Middle East & Africa
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About Polaris Market Research
Polaris Market Research is a global market research and consulting company. We provide unmatched quality of offerings to our clients present globally. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities.
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Issued By Polaris market research
Country United States
Categories Industry
Tags analysis , growth , share , size , trends
Last Updated December 22, 2020