The global substation automation market to grow at a CAGR of 7.17% during the period 2017-2021.
The report, Global Substation Automation Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the Key vendors operating in this market.
The latest trend gaining momentum in the market is adoption of Internet of things (IoT) into power systems. The Internet of things (IoT) is becoming the next generation technology for utility companies to transmit and distribute power between generating station and distribution substation. At present, the IoT has already discovered its pathway into the grid automation to bring revolution in modernized communication. Similarly, the enormous benefits of IoT have been continuously increasing the adoption rate of smart devices into the substation.
According to the report, one of the major drivers for this market is growing need for remote operations due to rising demand for electricity. The rising population and urbanization are ramping up the electricity demand worldwide. Thus, a huge mismatch is experienced between electricity supply and demand for last many years. Moreover, a variation of load demand to a large extent all through the year is the major difficulty that complicates the situation. Thus, utility and generation companies must constantly match supply and demand every second to maintain reliability on the power system.
- Grid Solutions
- Schneider Electric
Other prominent vendors
- Atlantic City Electric
- G&W Electric
- Kyland Technology
Key Topics Covered:
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by product
PART 07: Market segmentation by end-user
PART 08: Geographical segmentation
PART 09: Decision framework
PART 10: Drivers and challenges
PART 11: Market trends
PART 12: Vendor landscape
PART 13: Key vendor analysis
PART 14: Key Takeaway
PART 15: Appendix
For more information about this report visit https://www.researchandmarkets.com/research/lwb86p/global_substation