Substation Automation Market Size Overview:

A research team conducted extensive primary and secondary research for the Substation Automation Market Size study of the market. In order to augment already-existing data, segment the market, calculate the overall market size, and project market size and growth rate, secondary research was conducted.

Both primary and secondary research are used to determine the market's leaders and to estimate market revenue. The main study includes in-depth interviews with influential thought leaders and subject matter experts, including CEOs, marketing executives, and seasoned front-line workers. In-depth interviews with significant thought leaders and industry professionals, including CEOs, marketing executives, and seasoned front-line staff, were undertaken as part of primary research, and secondary research included a review of the annual and financial reports of the major manufacturers. In order to produce market percentage splits, market shares, growth rates, and breakdowns, secondary data must first be compared to primary data.

Substation Automation Market Size was valued USD 45.35 Bn in 2021 and is expected to reach US$ 73.94 Bn by 2029, at CAGR of 6.3% during forecast period of 2022 to 2029.

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Market Scope:

By identifying and assessing market categories as well as estimating market size, the study contributes to an understanding of the dynamic structure of the Substation Automation Market Size. A competitive examination of key firms' pricing, financial standing, application expansion objectives, and regional presence is also included in the report. The research also includes a PESTLE analysis to help investors prioritise their work and spending in the Substation Automation Market Size.

The investigation of external and internal factors that are expected to have a positive or negative impact on businesses has given decision-makers a clear picture of the sector's future. By analysing market categories and projecting market size, the study also contributes to an understanding of the dynamic structure of the global Substation Automation Market Size. By giving a thorough account of the competitive analysis of important companies in the global Substation Automation Market Size based on price, financial condition, growth strategies, and geographical presence, the study acts as a resource for investors.

Drivers:

Substation automation systems (SAS) rely on specialised software that is housed in hardware components that are a part of a collection of secondary substation components. Automation of the substation is necessary to achieve the objective of effective electricity transmission and distribution. Power supply automation requires the use of tools like specialised software, unique sensors, and tools that enable two-way communication.

Protective relays, programmable logical controls, and digital transducers are a few examples of intelligent devices that are used. These devices assist in monitoring and controlling the substation equipment and also reduce the frequency and length of power outages.

Segmentation:

The Substation Automation Market Size has been divided into utility, steel, mining, transportation, and oil and gas based on end users. Due to the significant energy demand-supply gap in the majority of emerging and established industries, the utility segment is one of the rapidly expanding application areas for substation automation and integration.

Due to their use in the production, transmission, and distribution of electricity, substation automation systems have a lot of potential in the utility industry. Global market expansion is being fueled by the modernization of grids and the installation of smart grids in the utility industry.

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Key Players: The key players are

• Schneider Electric
• EATON Corp.
• Tropos Network
• Encore Networks
• Grid Net
• ABB Ltd.
• Siemens AG
• General Electric
• Cisco Systems, Inc.
• Eaton Corporation Plc.
• Crompton Greaves Ltd.
• Larsen & Toubro Limited
• Verson Electric Pvt. Ltd.
• Trilliant Holdings, Inc.
• Encore Networks
• Cooper Industries
• Power System Engineering, Inc.
• Texas Instruments
• Axiomtek Co. Ltd
• Toshiba Corporation
• Ametek

Regional Analysis:

An analysis of the Substation Automation Market Size at the country level concentrates on regions, markets, and nations with the largest market shares and the greatest potential for expansion. North America (USA, Canada), South America, Asia Pacific (China, Japan, India, Korea), Europe (Germany, UK, France, Italy), and Other nations are the regions that are broken out in the Substation Automation Market Size research.

COVID-19 Impact Analysis on Substation Automation Market Size:

The banking, financial services, insurance, aerospace and defence, automotive, retail and e-commerce, energy and power, healthcare, packaging, mining, and electronics are just a few of the industries that have been impacted by the COVID-19 epidemic. The total Substation Automation Market Size and the growth rate in 2019–2020 have both been impacted by COVID-19 as its influence has expanded. The organisations and businesses in the Substation Automation industry rely on our most latest research, assessments, and market statistics.

Key Questions Answered in the Substation Automation Market Size Report are:

What will the market's CAGR be over the forecast time period?
In the Substation Automation Market Size, which market segment has become the market leader?
Which companies dominate the Substation Automation Market Size?
What will the size of the Substation Automation Market Size be in 2029?
Which company held the largest proportion of the Substation Automation Market Size?
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