DALLAS, TX -- /PRNewswire/ -- According to a new market research report of "Substation Automation Market (2013–2018) By Components - IEDS (Digital Relays, Smart meters, Recloser Controller, Capacitor Bank Controller) & Communication Technology (Optical Fiber, PLC, Copper Wir e, Ethernet), SCADA & Geography", published by MarketsandMarkets, the market is expected to grow at a CAGR of 5.2% from 2013 to 2018 and reach $122.94 billion in 2018.
Substation Automation is an integration of various protections, control and data acquisition functions on an automated platform with minimal number of units to reduce the operating costs, lessen the control panel and room space, and to eliminate redundant equipment. The automation functions and applications ranging from supervisory control and data acquisition (SCADA) and alarm processing to integrated voltage variation control, metering to record information generated by substation devices in order to optimize the management of assets and enhance operation and maintenance efficiencies with minimal human intervention.IEDs are consider to be the key component of substation automation; it helps in improving operational efficiencies and reliability and gives more scope for enhancing predictive maintenance and planning.
The overall substation automation market is segmented into four major segments namely: IEDs, communication technology and SCADA and geography. All the major segments are further segmented into sub segments. All the segments and sub segments are separately described in the report. Global Substation Automation Market is expected to reach $122.94 billion by 2018, at an estimated CAGR of 5.2% from 2013 to 2018.
The Major Driving Factors for the Substation Automation Market are the grid efficiency & reliability, cost saving, reduction in transmission and distribution loss and others. In the report different IED's used in Substation Automation are discussed like programmable logical controller, digital transducer, digital relays, load tap controller and so on.
This report describes the overall market into four major geographical segments, namely:
- North America
- Asia Pacific, and
- Rest of World (ROW).
North America is the market leader in the overall Substation Automation Market; followed by Europe and APAC. In ROW, the Middle East, and Africa are the largest contributors.
The Major Companies involved in Global Substation Market which are also profiled in the report are:
- ABB (Switzerland)
- Alstom (France)
- General Electric (U.S.)
- Schweitzer Engg Lab (U.S.)
- Siemens (Germany)
- Cooper power Systems (U.S.)
- NovaTech (U.S.) and so on.
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