Substation monitoring system market is anticipated to grow at a CAGR of 9.2% during the forecast period (2024-2031). The growing adoption of a smooth and uninterrupted supply of power from generating locations to the load centers is the key factor supporting the growth of the market globally. To improve the reliability, efficiency, and financial sustainability of the electricity supply around the globe. Modernization of substations helps strengthen to power transmission network to meet current and future demands the market players are also focusing on introducing substation monitoring system solutions that further bolster the market growth. For instance, in February 2023, GE Renewable Energy’s Grid Solutions business announced it had been awarded a multi-million dollar contract from the Nepal Electricity Authority (NEA) to automate 39 substations of various ratings across Nepal, including the construction of six Master Control Centers (MCCs).
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The global substation monitoring system market is segmented on the components, communication technology, and industry. Based on the component, the market is sub-segmented into hardware (distribution network feeders, smart sensors, microcontrollers, cameras, intelligent electronic devices (IEDs) and software (asset management, production management, performance management). Based on the communication technology, the market is sub-segmented into wired and wireless. Further, on the basis of industry, the market is sub-segmented into utility, oil and gas, mining, steel and transportation. Among the industry, the utility sub-segment is anticipated to hold a considerable share of the market owing to the rise in the development of advanced computer technology, modern electronic technology, communication technology and information processing technology to recombine and optimize the functions of substation secondary equipment.
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- Market Coverage
- Market number available for – 2024-2030
- Base year- 2023
- Forecast period- 2024-2030
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Substation Monitoring System Market by Component
- Hardware
- Distribution Network Feeders
- Smart Sensors
- Microcontrollers
- Cameras
- Intelligent Electronic Devices (IEDs)
- Software
- Asset Management
- Production Management
- Performance Management
Global Substation Monitoring System Market by Communication Technology
- Wired
- Wireless
Global Substation Monitoring System Market by Industry
- Utility
- Oil and Gas
- Mining
- Steel
- Transportation
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- Alstom SA
- ALTANOVA GROUP
- ARTECHE
- Beckwith Electric
- Cisco Systems, Inc.
- Eaton
- Efacec
- Electrosal
- Emerson Electric Co.
- Fluke Process Instruments.
- Kalki Communication Technologies Pvt Ltd.
- KEMSYS Technologies
- Mitsubishi Electric Corp
- NovaTech, LLC.
- Powell Industries.
- Rockwell Automation
- Schneider Electric
- Schweitzer Engineering Laboratories, Inc.
- Toshiba Energy Systems & Solutions Corp.
- Viper Imaging
- Yokogawa India Ltd.
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global substation monitoring system market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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