SUBSTATION MONITORING SYSTEM MARKET ANALYSIS

Substation Monitoring System MarketSize and Trends

Substation monitoring system is designed to remotely monitor and control distributed power generation. Substations are essential for supplying power to consumers and act as the connection points between transmission networks and electric generators. Substations offer steady flow of voltage, and maintains the temperature of distribution transformers. Additionally, it helps in converting the Alternating Current (AC) to Direct Current (DC). Therefore, substations offer improved power quality management with increased reliability and operational advantages.

Rising demand for the reduction in distribution and transmission losses is the major factor driving the growth of market.

In the process of supplying electricity to the consumers, power loss is expected due to technical and commercial losses. Technical loss is due to dissipation of energy in transformers, conductors, and other equipment used in the distribution of power. Additionally, commercial losses are due to bypassing meters, defective meters, and errors in meter readings among others. For instance, according to the Coherent Market Insights’ analysis, the average transmission and distribution losses in 2014, accounted for around 23% of the total electricity generated globally. Therefore, the demand for substation monitoring systems high for use in energy distribution operations, to reduce distribution and transmission losses (T&D losses), which in turn, is expected to positively influence the growth of the market during the forecast period.

Wireless Technology segment is expected to hold the largest market share over the forecast period

Among communication technology, the wireless technology segment held the largest market share in 2016. The segment includes cellular, wireless LAN, and Zigbee among others. The wired communication technology are easily susceptible to corruption, as they are more difficult to maintain than wireless technology. Therefore, the demand for wireless technology is increasing and is thus expected to fuel growth of the market over the forecast period (2017-2025).

Global Substation Monitoring System Market: Taxonomy

On basis of component, the market is segmented into:

• Hardware
• Software

On basis of sector, the market is segmented into:

• Transmission
• Distribution

On basis of communication technology, the market is segmented into:

• Wired Communication Technology
• Wireless Technology

On basis of Industry, the market is segmented into:

• Oil and Gas
• Steel
• Mining
• Transportation

On basis of region, the market is segmented into:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East
• Africa