Hexa Reports Market Research Reports and Insightful Company Profiles
Substation Automation Market Analysis, Share and Size, Emerging Trends, Growth, Overview And Segment Forecasts To 2024
The global substation automation market size is expected to reach USD 185.80 billion by 2024 according to a new report by Grand View Research, Inc. The increasing requirement for operation efficiency, improved quality, increased production, high uptime, and ease of monitoring and controlling the industrial process are factors that are expected to contribute to the industry growth. The growing advancements in the smart grid technology are increasing the scope for SCADA systems. The primary factors leading to the rising adoption of the smart grid technology include improved reliability, efficiency, and sustainability of the existing power systems. They are widely used in automation technologies, which actively monitor transmission and distribution grids. Browse Detail Report With TOC @ http://hexareports.com/report/substation-automation-market/details The energy and power utilities are focusing on minimizing the distribution and transmission losses, which has resulted in the increasing deployment of substation automation, driving the industry growth. Moreover, utilities across the world are facing a high requirement for improved electric service reliability and stability. They are focusing on improving the resiliency of the grid, which is contributing toward the high industry demand.
Hexa Reports Market Research Reports and Insightful Company Profiles Further key findings from the report suggest: Programmable Logic Controllers (PLCs) are expected to witness a considerable growth at a CAGR of nearly 3% over the forecast period owing to the technological advancements. Developments such as miniaturization, low cost, and improved power have led to an increased adoption of PLC systems. Moreover, the surge in the technology and pricing innovation in the PLC industry, owing to the intense competition among the tier-one companies and rising customer demand, is anticipated to drive the industry over the forecast period. Furthermore, the communication channel segment is expected to witness an extensive growth at a CAGR of over 9% from 2016 to 2024. The rising demand for advanced communication capabilities to communicate across remote areas with an improved overall efficiency of power utilities is the major factor boosting the segment growth. The SCADA segment is estimated to grow at a considerable CAGR of over 9% from 2016 to 2024, owing to the increasing advancements in the smart grid technology. The primary factors leading to the rising adoption of the smart grid technology include improved reliability, efficiency, and sustainability of the existing power systems. The rising demand for the multi-touch SCADA technology across verticals such as industrial and manufacturing is further expected to spur the industry growth over the forecast period. Technology Market Research Related Reports:  Unified Communications Market Analysis And Segment Forecasts To 2024 http://hexareports.com/report/unified-communications-market/details  Voice Recognition Market Analysis And Segment Forecasts Till 2024 http://hexareports.com/report/voice-recognition-market/details Copper wire communication was a prominent communication channel, accounting for a revenue share of around 42% in 2015. The copper wire communication has observed a high adoption owing to the low initial cost of copper base metal. However, it is anticipated to lose market share due to the emergence of advanced communication platforms, such as the Ethernet and optical fiber communication. The optical fiber communication segment is expected to grow at a CAGR of nearly 10% over the next eight years. The optical fiber used in the substation automation provides advantages such as immunity to EMI/RFI; secure data communications, and a higher bandwidth that supports higher data rates over long distances. North America dominated the market with a significant revenue share of over 32% in 2015. However, emerging countries such as China and India are anticipated to drive the substantial demand in this region, owing to the increasing demand for energy efficiency and smart power infrastructure. The automation technology has become an integral part of the power systems worldwide. It is expected to drive power transmission and distribution, contributing to the market growth. Europe is anticipated to witness a considerable growth owing to the increasing demand for smart grid solutions in Western Europe.
Hexa Reports Market Research Reports and Insightful Company Profiles The key industry players include ABB Ltd., Cisco Systems, Inc., Crompton Greaves Ltd., Eaton Corporation Plc., General Electric Company, Larsen & Toubro Limited, Siemens AG, Schneider Electric SE, Trilliant Holdings, Inc., and Venson Electric Pvt. Ltd. The manufacturers in the market are investing profoundly in developing advanced solutions and focusing on the potential opportunities in the industry. Table Of Content Chapter 1. Methodology and Scope 1.1. Research Methodology 1.2. Research Scope & Assumption 1.3. List of Data Sources Chapter 2. Executive Summary 2.1. Substation Automation - Industry snapshot and key buying criteria, 2014 - 2024 Chapter 3. Substation Automation Industry Outlook 3.1. Market segmentation 3.2. Market size and growth prospects 3.3. Substation automation value chain analysis 3.4. Substation automation market dynamics 3.5. Key opportunities prioritized 3.6. Industry analysis - Porter's 3.7. Substation automation - Key competitor analysis, 2015 3.8. Substation automation market PESTEL analysis, 2015 Chapter 4. Substation Automation Component Outlook 4.1. Recloser controller 4.2. Programmable logical controller 4.3. Capacitor bank controller 4.4. Digital transducer/smart meter 4.5. Load tap controller 4.6. Communication channel 4.7. Digital relays 4.8. Others Chapter 5. Substation Automation Module Outlook 5.1. SCADA 5.2. IEDs 5.3. Communication network Chapter 6. Substation Automation Communication Channel Outlook 6.1. Ethernet 6.2. Power line communication 6.3. Copper wire communication
Hexa Reports Market Research Reports and Insightful Company Profiles 6.4. Optical fiber communication Chapter 7. Substation Automation Regional Outlook 7.1. North America 7.2. Europe 7.3. Asia Pacific 7.4. Latin America Chapter 8. Competitive Landscape 8.1. ABB Ltd. 8.2. Cisco Systems, Inc. 8.3. Crompton Greaves Ltd. 8.4. Eaton Corporation Plc. 8.5. General Electric Company 8.6. Larsen & Toubro Limited 8.7. Schneider Electric SE 8.8. Siemens AG 8.9. Trilliant Holdings, Inc. 8.10. Verson Electric Pvt. Ltd. Browse Full Report @ http://hexareports.com/report/substation-automation-market/details About Us: Hexa Reports is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives. Contact Information: Ryan Shaw Felton Office Plaza, 6265 Highway 9, Felton, California, 95018, United States Phone Number 1-800-489-3075 Email Us: sales@hexareports.com Our Website: http://www.hexareports.com/ Visit our Blog:http://hexareports.blogspot.com/ Like our Facebook page: https://www.facebook.com/hexareportsindustry/ Follow us on LinkedIn: https://www.linkedin.com/company/hexa-reports-inc-