Substation Monitoring Market, By Component (Hardware, Software), By Communication Technology (Wired

Published Date: | Report Code : IT1949240

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High growth of oil & gas, steel, utility, mining, and transportation in the emerging regions is expected to drive the demand of substation monitoring market during the forecast period.  Some of the major end-use industries in the substation monitoring market have been witnessing strong growth in the emerging region such as the Asia Pacific and the Middle East. The substation monitoring market is expected to grow at a stable rate due to factors such as increasing demand for electricity from the industrial sector backed with rising demand for uninterrupted supply of power from various countries across the world.  Also, the need to reduce electricity losses, with the help of monitoring is some of the few factors driving the growth of this market.

Segment Analysis

The segment of wireless communication technology is expected to grow at a considerable rate due to the rise in adoption of wireless communication in comparison to wired communication technology in multiple electrical substations for the purpose of online monitoring. Among the end-users, the utility is speculated to hold a fair share in the global substation monitoring market, due to the increasing use of the substation monitoring system in utility, to reduce losses taking place during transmission and distribution.

Key Factors Impacting Market Growth:

  • Developing IoT based network of communication
  • Demand for projects based on renewable energy is on a rise
  • Deteriorating infrastructure
  • The high cost of installation

Regional Outlook:

By region, the substation monitoring market is estimated to be dominated by North America, Western Europe, and Asia Pacific during the forecast period. With technological advancements and cluster of global companies operating in these regions, these regions hold key to the growth and development of substation monitoring market during the forecast period. Most of the leading companies have operations in these regions to cater the potential end users in the respective region. 

The North America substation monitoring market is further segmented by US, Canada, and Mexico, whereas Germany, UK, France, Italy are estimated to be some of the major markets in Western Europe.  Asia Pacific region is segmented by China, Japan, South Korea, India and Australia. Middle East and Eastern Europe are estimated to be potential markets with growing demand during the forecast period. Major countries in these regions include Russia, UAE, Saudi Arabia, Israel, and others.

Companies Covered: Honeywell, Siemens, Schneider Electric, Emerson Electric, General Electric, EATON, Schweitzer Engineering Laboratories, NovaTech, Crompton Greaves

Market Segmentation:

By Component:

  • Hardware
  • Software

By Communication Technology:

  • Wired Communication Technology
  • Wireless Communication Technology

By End-users:

  • Oil & Gas
  • Steel
  • Utility
  • Mining
  • Transportation

By Region:

  • North America
    • By Country (US, Canada, Mexico)
    • By Component
    • By Communication Technology
    • By End-Users
  • Western Europe:
    • By Country (Germany, UK, France, Spain, Rest of Western Europe)
    • By Component
    • By Communication Technology
    • By End-Users
  • Eastern Europe:
    • By Country (Russia, Turkey, Rest of Eastern Europe)
    • By Component
    • By Communication Technology
    • By End-Users
  • Asia Pacific
    • By Country (China, Japan, India, Rest of Asia Pacific)
    • By Component
    • By Communication Technology
    • By End-Users
  • Middle East:
    • By Country (UAE, Qatar, Iran, Saudi Arabia, Rest of Middle East)
    • By Component
    • By Communication Technology
    • By End-Users
  • Rest of the World
    • By Region (South America, Africa)
    • By Component
    • By Communication Technology
    • By End-Users

Reasons to Buy This Report:

  • Market size estimation of the substation monitoring market on a regional and global basis
  • The unique research design for market size estimation and forecast
  • Profiling of major companies operating in the market with key developments
  • Broad scope to cover all the possible segments helping every stakeholder in the market

Customization:

We provide customization of the study to meet specific requirements:

  • By Segment
  • By Sub-segment
  • By Region/Country

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