Int'l : +1-503-894-6022 | Toll Free : +1-800-792-5285 | help@alliedmarketresearch.com
A05537 | Pages: NA | Charts: NA | Tables: NA |
Electric substation integration and monitoring is a technology that works on the real-time data. It is used for monitoring the flow of electricity, which is transmitted at high voltage and low current to reduce the heat and other transmission losses. Substation monitoring involves significant data from the parameters attached to substation assets such as transformers, conductors, and circuit breaker among others. The substation monitoring system has following functions such as it involves data acquisition from each asset through appropriated sensor, data storage and processing at substation level, and integration of data from different substations into the general maintenance management system of the utility.
The electric substation integration and monitoring technology market is expected to witness growth due to increase in demand for reduction in transmission and distribution losses. Automated substations provide the necessary information that is required or, say needed to maintain uninterrupted power. Substation automation is the integration of smart electrical equipment that has the ability to monitor their functionality. For example, circuit breakers are able to measure their contact resistance and acknowledge proper maintenance diagnostics. Automated substations consist of microprocessor-based relays, circuit breakers, transformers, and motor-operated air switches, which are processed by graphical interface unit that can easily be accessed remotely. Thus, all these factors are highly responsible for electric substation integration and monitoring technology market growth.
Factors such as increase in financial initiatives by the government for the promotion of monitoring technologies, enhancing Iot-based communication network, and rise in need for reduction in transmission and distribution losses drive the growth of the electric substation integration and monitoring technology market. However, high cost for the installation of wireless sensor networks and IEDs restrains the market growth. Furthermore, growth in demand for renewable energy projects provides lucrative opportunities for the market growth.
The electric substation integration and monitoring technology market is segmented into offering, technology, sector, end use, and region. Based on offering, the market is bifurcated into hardware and software. By technology, it is divided into wired communication technology and wireless communication. Based on sector, the market is categorized into transmission and distribution. By end use, it is segregated into oil & gas, mining, transportation, utility, and others. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the electric substation integration and monitoring technology industry are ABB, Honeywell, Siemens, Schneider Electric, Emerson Electric, General Electric, Schweitzer Engineering Laboratories, Eaton, NovaTech and Crompton Greaves. These key players focus on R&D activities related to electric substation integration and monitoring technologies and adopt various strategies such as acquisition, mergers, collaboration, and others to enhance products in the market.
Key Market Segments
Key Market Players