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Electric Power Substation Automation Market Size, Share, Competitive Landscape and Trend Analysis Report by Offering, by Type, by Component : Global Opportunity Analysis and Industry Forecast, 2024-2032

Electric Power Substation Automation Market Size, Share, Competitive Landscape and...

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Electric Power Substation Automation Market Size, Share, Competitive Landscape and Trend Analysis Report by Offering, by Type, by Component : Global Opportunity Analysis and Industry Forecast, 2024-2032
Electric Power Substation Automation Market...
Report Code
RO11/128/1078

Publish Date
12/Jun/2024

Pages
200
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The global electric power substation automation market revenue was around US$ 4.5 billion in 2023 and is estimated to reach US$ 6.8 billion by 2032, growing at a compound annual growth rate (CAGR) of 4.5% during the forecast period from 2024 to 2032.
Electric power substation automation integrates cutting-edge systems and technologies to improve electrical substation management, control, and monitoring. Substations are essential parts of the power grid that help with the distribution, transmission, and conversion of electricity. Intelligent devices, communication networks, and software applications are deployed in substations through automation to facilitate real-time data collection, analysis, and decision-making processes.
Factors Influencing Market Growth
- Electric power substation automation ensures the smooth transmission and distribution of electricity and helps utilities keep up with the growing demand. This is increasing the demand for electric power substation automation, thus expanding the market.
- The integration of electric power substation automation with renewable energies like solar, wind, and others. This is increasing the demand for electric power substation automation in the renewable energy industry. This is thus propelling market growth.
- Technological advancements like IoT (Internet of Things) devices, artificial intelligence, and data analytics are improving substation automation systems. This will increase the demand for electric power substation automation and propel market growth.
- The high initial investment and complexity of integration may hinder market growth.
Impact of COVID-19
COVID-19 had a mixed impact on market growth. There were challenges due to disruptions in supply chains and project delays. However, by emphasizing the significance of robust and remotely operable infrastructure for power grid automation, it also generated opportunities.
Regional Insights
The Asia-Pacific region is expected to have the highest growth during the forecast period. This is because emerging nations will exhibit rapid industrial growth and flourishing economies. Additionally, the growth that has been observed in all of the major economies is probably going to stagnate in the upcoming years, which will force the major players in the market to search for opportunities in developing countries.
Leading Competitors
- Siemens
- Itron, Inc.
- Schneider Electric SE.
- Rockwell Automation Inc.
- NovaTech
- LLC
- Honeywell International Inc.
- ABB Ltd.
- Eaton Corporation
- Hitachi, Ltd.
- Cisco
- Other Prominent Players
Segmentation Analysis
The global electric power substation automation market segmentation focuses on offering, type, component, and region.
Segmentation based on Offering
- Software
- Hardware
- Services
Segmentation based on Type
- Transmission Substation
- Distribution Substation
Segmentation based on Component
- Intelligent Electronic Devices (IEDs)
- Programmable logic controller (PLC)
- Supervisory Control and Data Acquisition (SCADA)
- Others
Segmentation based on Region

- North America
- The U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Singapore
- Rest Of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa

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