Power Substation Automation And Integration Market
Power Substation Automation & Integration Market Forecasts to 2030 - Global Analysis By Component (Hardware, Software, Services and Other Components), Communication Protocol, Technology, Application, End User and By Geography
|
Years Covered |
2022-2030 |
|
Estimated Year Value (2024) |
US $4.99 BN |
|
Projected Year Value (2030) |
US $7.33 BN |
|
CAGR (2024- 2030) |
6.6% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
North America |
According to Stratistics MRC, the Global Power Substation Automation & Integration Market is accounted for $4.99 billion in 2024 and is expected to reach $7.33 billion by 2030 growing at a CAGR of 6.6% during the forecast period. Automating and optimizing electrical substation operations through the use of cutting-edge technologies is known as power substation automation and integration. To improve the effectiveness, dependability, and security of power transmission and distribution networks, control systems, communication technologies, protection devices, and monitoring systems are integrated. Automation and integration increase grid stability, decrease downtime, and make it easier to integrate renewable energy sources by facilitating real-time data monitoring, remote control, and smooth communication between substations and control centers.
Market Dynamics:
Driver:
Increased demand for reliable and efficient power systems
Power providers and utilities are under pressure to guarantee a steady and continuous supply of electricity as global power usage climbs. By enabling remote control, real-time monitoring, and quicker problem identification, automation improves substation efficiency and lowers the likelihood of outages and downtime. To satisfy the increasing demand for electricity in the commercial, residential, and industrial sectors, automated solutions also optimize resource allocation, lower human error, and increase the overall reliability of the power grid.
Restraint:
High initial costs
Intelligent electronic devices (IEDs), programmable logic controllers (PLCs), and communication networks are examples of high-performance hardware that is necessary for modernizing existing substations or constructing new automated facilities. These gadgets can be costly. Furthermore, integrating these elements with legacy systems necessitates specific knowledge, which raises expenses even more. Adoption of these technologies is challenging for small and medium-sized utilities, who frequently face financial constraints. The large upfront expenditures may prevent adoption, especially in poorer nations with low financial resources, even though there will be long-term operational and maintenance benefits.
Opportunity:
Growing focus on cybersecurity
Substations are more susceptible to cyber-threats including hacking, data breaches, and illegal access as they get more automated and networked. Maintaining the integrity and dependability of the power system depends on safeguarding private information and making sure that working technologies are secure. To protect their automated systems, governments and utilities are spending money on cutting-edge cybersecurity solutions, such as intrusion detection systems, firewalls, and encryption. In addition to preventing malicious attacks, this emphasis on cybersecurity is necessary to meet strict regulatory standards and guarantee safe and continuous electricity delivery.
Threat:
Lack of skilled workforce
The need for experts with specific training and experience has increased as the sector embraces cutting-edge technology like smart grids and clever electrical products. However, the efficient deployment and upkeep of these systems are hampered by ongoing shortages of qualified workers. Comprehensive training programs that emphasize simulation-based training and experiential learning are desperately needed to close this gap and help employees adjust to the complexity of contemporary automation and substation engineering technology.
Covid-19 Impact
The COVID-19 pandemic significantly impacted the Power Substation Automation & Integration market by disrupting supply chains, delaying infrastructure projects, and causing budget reallocations in utilities. Lockdowns and restrictions slowed the production and delivery of critical components, while workforce shortages hindered project execution. However, the pandemic also underscored the need for resilient and remote-operable power systems, driving interest in automation. Governments and utilities began prioritizing modernization efforts to enhance grid reliability and adapt to changing energy demands in a post-pandemic landscape.
The hardware segment is expected to be the largest during the forecast period
The hardware segment is estimated to be the largest, due to the need for advanced and reliable infrastructure to support the modernization of power grids. Hardware components such as intelligent electronic devices (IEDs), programmable logic controllers (PLCs), and sensors are crucial for real-time monitoring, control, and protection of substations. Additionally, the push for improved grid reliability and automation accelerates hardware demand, ensuring seamless energy distribution.
The transmission substations segment is expected to have the highest CAGR during the forecast period
The transmission substations segment is anticipated to witness the highest CAGR during the forecast period, due to the growing need for efficient electricity transmission across long distances. The integration of renewable energy sources, such as solar and wind, into the grid necessitates advanced transmission substations for stable energy flow. Additionally, the push for grid modernization, enhanced grid reliability, and remote monitoring capabilities fuels the adoption of automated transmission substations for optimized power distribution.
Region with largest share:
Asia Pacific is expected to have the largest market share during the forecast period due to rapid urbanization, industrialization, and a surge in energy demand. This necessitates the modernization of aging power grids to ensure reliable and efficient power delivery. Furthermore, the increasing penetration of renewable energy sources, such as solar and wind power, requires flexible and adaptable grids, which can be effectively managed through advanced substation automation systems.
Region with highest CAGR:
During the forecast period, the North America region is anticipated to register the highest CAGR, owing to the region's focus on grid modernization initiatives, coupled with the increasing penetration of renewable energy sources, necessitates advanced grid management solutions. Furthermore, the growing emphasis on energy efficiency and sustainability, along with stringent regulations aimed at improving grid reliability and resilience, are driving the demand for sophisticated substation automation systems.
Key players in the market
Some of the key players profiled in the Power Substation Automation & Integration Market include Siemens AG, Schneider Electric, General Electric (GE), ABB Ltd., Eaton Corporation, Honeywell International Inc., Rockwell Automation, Inc., Mitsubishi Electric Corporation, Emerson Electric Co., Cisco Systems, Inc., ZIV Automation, Alstom, Toshiba Corporation, Bharat Heavy Electricals Limited (BHEL), S&C Electric Company, Hitachi, Ltd., Wipro Limited, Rolta India Limited, Larsen & Toubro Limited, and Koch Industries, Inc.
Key Developments:
In November 2024, Rockwell Automation, Inc. the world’s largest company dedicated to industrial automation and digital transformation, introduces FactoryTalk® Analytics™ VisionAI™, a cutting-edge inspection solution that leverages artificial intelligence (AI) and machine learning to revolutionize quality control in manufacturing.
In October 2024, Schneider Electric has formed a strategic partnership with Noida International Airport to introduce building and energy management solutions. Through this collaboration, Schneider Electric will roll out complete building management solutions, comprising Electrical SCADA and Advanced Distribution Management System, aimed at significantly boosting the airport's operational efficiency and sustainability.
In April 2024, GE announced its official launch as an independent public company defining the future of flight, following the completion of the GE Vernova spin-off. GE Aerospace will trade on the New York Stock Exchange (NYSE) under the ticker “GE”.
Components Covered:
• Hardware
• Software
• Services
• Other Components
Communication Protocols Covered:
• Modbus
• DNP3
• IEC 61850
• OPC
Technologies Covered:
• Monitoring and Data Acquisition
• Protection and Control
• Automation of Distribution Systems
• Communication
• Cyber Security Technologies
Applications Covered:
• Transmission Substations
• Distribution Substations
• Generation Substations
• Other Applications
End Users Covered:
• Industrial Sector
• Commercial Sector
• Utility Providers
• Renewable Energy
• Mining
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Power Substation Automation & Integration Market, By Component
5.1 Introduction
5.2 Hardware
5.2.1 Control Systems
52.2 Protection Devices
5.2.2 Communication Systems
53.2 Sensors and Instrumentation
5.3 Software
5.3.1 SCADA Systems
5.3.2 Energy Management Software (EMS)
5.3.3 Asset Management Software
5.4 Services
5.4.1 Maintenance and Support
5.4.2 Consulting Services
5.4.3 System Integration Services
5.5 Other Components
6 Global Power Substation Automation & Integration Market, By Communication Protocol
6.1 Introduction
6.2 Modbus
6.3 DNP3
6.4 IEC 61850
6.5 OPC
7 Global Power Substation Automation & Integration Market, By Technology
7.1 Introduction
7.2 Monitoring and Data Acquisition
7.3 Protection and Control
7.4 Automation of Distribution Systems
7.5 Communication
7.6 Cyber Security Technologies
8 Global Power Substation Automation & Integration Market, By Application
8.1 Introduction
8.2 Transmission Substations
8.3 Distribution Substations
8.4 Generation Substations
8.5 Other Applications
9 Global Power Substation Automation & Integration Market, By End User
9.1 Introduction
9.2 Industrial Sector
9.3 Commercial Sector
9.4 Utility Providers
9.5 Renewable Energy
9.6 Mining
9.7 Other End Users
10 Global Power Substation Automation & Integration Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Siemens AG
12.2 Schneider Electric
12.3 General Electric (GE)
12.4 ABB Ltd.
12.5 Eaton Corporation
12.6 Honeywell International Inc.
12.7 Rockwell Automation, Inc.
12.8 Mitsubishi Electric Corporation
12.9 Emerson Electric Co.
12.10 Cisco Systems, Inc.
12.11 ZIV Automation
12.12 Alstom
12.13 Toshiba Corporation
12.14 Bharat Heavy Electricals Limited (BHEL)
12.15 S&C Electric Company
12.16 Hitachi, Ltd.
12.17 Wipro Limited
12.18 Rolta India Limited
12.19 Larsen & Toubro Limited
12.20 Koch Industries, Inc.
List of Tables
1 Global Power Substation Automation & Integration Market Outlook, By Region (2022-2030) ($MN)
2 Global Power Substation Automation & Integration Market Outlook, By Component (2022-2030) ($MN)
3 Global Power Substation Automation & Integration Market Outlook, By Hardware (2022-2030) ($MN)
4 Global Power Substation Automation & Integration Market Outlook, By Control Systems (2022-2030) ($MN)
5 Global Power Substation Automation & Integration Market Outlook, By Protection Devices (2022-2030) ($MN)
6 Global Power Substation Automation & Integration Market Outlook, By Communication Systems (2022-2030) ($MN)
7 Global Power Substation Automation & Integration Market Outlook, By Sensors and Instrumentation (2022-2030) ($MN)
8 Global Power Substation Automation & Integration Market Outlook, By Software (2022-2030) ($MN)
9 Global Power Substation Automation & Integration Market Outlook, By SCADA Systems (2022-2030) ($MN)
10 Global Power Substation Automation & Integration Market Outlook, By Energy Management Software (EMS) (2022-2030) ($MN)
11 Global Power Substation Automation & Integration Market Outlook, By Asset Management Software (2022-2030) ($MN)
12 Global Power Substation Automation & Integration Market Outlook, By Services (2022-2030) ($MN)
13 Global Power Substation Automation & Integration Market Outlook, By Maintenance and Support (2022-2030) ($MN)
14 Global Power Substation Automation & Integration Market Outlook, By Consulting Services (2022-2030) ($MN)
15 Global Power Substation Automation & Integration Market Outlook, By System Integration Services (2022-2030) ($MN)
16 Global Power Substation Automation & Integration Market Outlook, By Other Components (2022-2030) ($MN)
17 Global Power Substation Automation & Integration Market Outlook, By Communication Protocol (2022-2030) ($MN)
18 Global Power Substation Automation & Integration Market Outlook, By Modbus (2022-2030) ($MN)
19 Global Power Substation Automation & Integration Market Outlook, By DNP3 (2022-2030) ($MN)
20 Global Power Substation Automation & Integration Market Outlook, By IEC 61850 (2022-2030) ($MN)
21 Global Power Substation Automation & Integration Market Outlook, By OPC (2022-2030) ($MN)
22 Global Power Substation Automation & Integration Market Outlook, By Technology (2022-2030) ($MN)
23 Global Power Substation Automation & Integration Market Outlook, By Monitoring and Data Acquisition (2022-2030) ($MN)
24 Global Power Substation Automation & Integration Market Outlook, By Protection and Control (2022-2030) ($MN)
25 Global Power Substation Automation & Integration Market Outlook, By Automation of Distribution Systems (2022-2030) ($MN)
26 Global Power Substation Automation & Integration Market Outlook, By Communication (2022-2030) ($MN)
27 Global Power Substation Automation & Integration Market Outlook, By Cyber Security Technologies (2022-2030) ($MN)
28 Global Power Substation Automation & Integration Market Outlook, By Application (2022-2030) ($MN)
29 Global Power Substation Automation & Integration Market Outlook, By Transmission Substations (2022-2030) ($MN)
30 Global Power Substation Automation & Integration Market Outlook, By Distribution Substations (2022-2030) ($MN)
31 Global Power Substation Automation & Integration Market Outlook, By Generation Substations (2022-2030) ($MN)
32 Global Power Substation Automation & Integration Market Outlook, By Other Applications (2022-2030) ($MN)
33 Global Power Substation Automation & Integration Market Outlook, By End User (2022-2030) ($MN)
34 Global Power Substation Automation & Integration Market Outlook, By Industrial Sector (2022-2030) ($MN)
35 Global Power Substation Automation & Integration Market Outlook, By Commercial Sector (2022-2030) ($MN)
36 Global Power Substation Automation & Integration Market Outlook, By Utility Providers (2022-2030) ($MN)
37 Global Power Substation Automation & Integration Market Outlook, By Renewable Energy (2022-2030) ($MN)
38 Global Power Substation Automation & Integration Market Outlook, By Mining (2022-2030) ($MN)
39 Global Power Substation Automation & Integration Market Outlook, By Other End Users (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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