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The Substation Automation Market drivers and trends are as follows:

Some of the factors responsible for the growth of the global substation automation market include the rising demand for low-cost substation automation solutions in the solar industry, the growing integration of functions with digital technology to improve grid efficiency in smart cities, and the increasing need for retrofitting conventional substations. The development in the substation automation standard IEC 61850 to enable interoperability among intelligent electronic devices, and rising adoption of fiber optics cables is further energizing the market growth. The power generation companies are concentrating on low-cost substation solution; thus, they are switching from the conventional substation to digital substations, which will surge the growth of the market. On the other hand, high wireless sensor network installation costs and embedded leds in substation increase equipment purchasing costs will hinder the market growth.

Based on the region, the Asia-pacific region is expected to grow at a higher rate during the forecast period. The growing government initiatives in developing countries such as India and China to enhance its power and energy sector will boost the growth of the market. India is targeted to install 175 GW of renewable energy capacity by the year 2022, several schemes organized to increase distribution in utilities, and village electrification programs, among others, are few initiatives taken up by the Government of India. Furthermore, rising investment to propel the manufacturing activities across the developing countries globally is accelerating the industry growth in the Asia-pacific.

Key Benefits of the Report:

This report offers an analytical depiction of the substation automation market while providing the current trends and future estimations to determine the imminent investment pockets.
This study illustrates every relevant information, including the market drivers, restraints, and emerging opportunities, followed by a detailed analysis of the substation automation market share.
The report also provides a detailed substation automation market analysis based on competitive intensity and how the competition will take shape over the next six years.
Various companies covered in the Substation Automation Market report:

ABB Group
Siemens AG
Rockwell Automation, Inc.
Cisco Systems, Inc.
CG Power and Industrial Solutions Limited
Schneider Electric SE
General Electric
Schweitzer Engineering Laboratories, Inc.
Honeywell International Inc.
Eaton Corporation plc
Novatech LLC
Larsen & Toubro Limited
Segmentation of the Substation Automation Market:

Breakup by Module:

Intelligent Electronic Devices
Communication Networks
o Wired Communication

o Wireless Communication

SCADA Systems
Breakup by Offering:

Hardware
o Smart Meters

o Programmable Logic Controllers

o Protective Relays

o Load Tap Changers

o Recloser Controllers

o Capacitor Banks

o Others

Software
o Asset Management

o Production Management

o Performance Management

Services
o Training & Development

o Upgrades & Retrofits

o Installation & Commissioning

o Repair, Testing, & Maintenance

Breakup by Type:

Transmission Substations
Distribution Substations
Breakup by Installation Type:

Retrofit Installation
New Installation
Breakup by Industry:

Utility
o Non-Renewables

o Renewables

Solar Projects
Wind Projects
Steel
Mining
Oil & Gas
Transportation
Breakup by Region:

North America
o United States of America

o Canada

Asia Pacific
o China

o Japan

o India

o Rest of APAC

Europe
o United Kingdom

o Germany

o France

o Spain

o Rest of Europe

RoW
o Brazil

o South Africa

o Saudi Arabia

o UAE

o Rest of the world (remaining countries of the LAMEA region)

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