Pune, India, February, 2018 /MRFR Press Release/- Market Research Future published a half-cooked research report on global Substation monitoring Market. The Substation Monitoring Market is expected to expand at ~ 8.50 % CAGR during the period 2018 to 2023.
Substation monitoring is a key tool for utilities as it provides the real-time based data through the integration of software and hardware component. Substation monitoring involves acquiring significant data from the parameters attached to substation assets such as transformers, conductors, and circuit breaker, among others. The substation monitoring system can be structured in three levels. First level involves Data acquisition from each asset through appropriated sensor. Second level involves Data storage and processing at substation level, and third level involves Integration of the data from different substations into the general maintenance management system of the utility.
Based on component, the Substation monitoring market is segmented into hardware and software. The software segment is estimated to grow at a faster pace during the forecast period. The increasing use of electricity in the industries and demand for uninterrupted power in developing economies including China and India are driving the growth of the substation monitoring system market for software. Moreover, a growing need for reducing electricity losses through monitoring is driving the growth of the substation monitoring system market for software.
The global Substation monitoring Market is expected to grow at ~ 8.50% CAGR during the forecast period.
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Market Research Analysis
Asia Pacific accounts for the largest market share in the Substation monitoring market
Region wise, Asia Pacific held the largest market share of the global substation monitoring market in 2017. The substation monitoring system market in emerging economies, such as China, India, and South Korea, is expected to grow at the highest CAGR because of the rising need for reduction in transmission and distribution losses in these countries.
GLOBAL SUBSTATION MONITORING MARKET 2018-2023
Scope of the Report
This report provides an in-depth analysis of the global Substation monitoring market, tracking three market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, and share for North America, Asia-Pacific (APAC), Europe, Middle East & Africa, and South America. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the Substation monitoring Market by its component, technology type, sector, industry, and by region.
The key players of the global Substation monitoring Market are are Siemens AG, ABB Ltd., Schneider Electric, General Electric, Cisco, Emerson Electric, Honeywell, Eaton, Emerson Electric, Crompton Greaves, Schweitzer Engineering Laboratories, Novatech, Igrid T&D, Sentient Energy, Cadillac Automation and Controls, Tekvel, and I-TOR, among others