Substation Monitoring System Market
Substation Monitoring System Market Size, Share & Trends Analysis Report by Component (Hardware (Distribution Network Feeders, Smart Sensors, Microcontrollers, Cameras, Intelligent Electronic Devices (IEDs) and Software (Asset Management, Production Management, Performance Management), by Communication Technology (Wired and Wireless), and by Industry (Utility, Oil and Gas, Mining, Steel and Transportation), Forecast Period (2024-2031)
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).
Segmental Outlook
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.
The Software Sub-Segment is Anticipated to Hold a Considerable Share of the Global Substation Monitoring System Market
Among the components, the software sub-segment is expected to hold a considerable share of the global substation monitoring system market. The segmental growth is attributed to the growing influence of the technology providers to co-develop an entirely new solution intended to revolutionize the energy transition and help achieve a climate-neutral economy. For instance, in November 2021, Capgemini joined the Edge for Smart Secondary Substations (E4S) Alliance, created to develop a standard, flexible, manageable and interoperable platform for next-generation Smart Grids. In combination with edge computing leads to lower total cost of ownership (TCO), faster time to market for new applications and more efficient management and delivery of electricity.
Regional Outlook
The global substation monitoring system market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America. Among these, Asia-Pacific is anticipated to hold a prominent share of the market across the globe, owing to the growing demand for lower distribution and transmission losses in developing countries like India is driving the growth of the market for substation monitoring systems.
Global Substation Monitoring System Market Growth, by Region 2024-2031
The North America Region is Expected to Grow at a Significant CAGR in the Global Substation Monitoring System Market
Among all regions, the North America regions is anticipated to grow at a considerable CAGR over the forecast period. Regional growth is attributed to the high demand for power owing to the growth of new cities, the transmission and distribution network operators and power producers have further increased their investments in systems that reduce outages, lower operating costs and provide effective real-time control. The key players include ABB, Siemens AG, General Electric, Emerson Electric Co., Schneider Electric and others.
Investment Spending On Electricity Grids (2021)
Source: International Energy Agency
Market Players Outlook
The major companies serving the substation monitoring system market include ABB Ltd., Eaton, General Electric, Mitsubishi Electric Corp., Siemens AG, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in September 2023, Elewit and Red Eléctrica partnered to optimize the remote management of substations through AI, IoT and data analytics. The two Redeia companies are working on this initiative that combines different technologies to bolster the efficiency of maintenance processes and improve the availability of substation assets.
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.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.2. ABB Ltd.
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Developments
3.3. Mitsubishi Electric Corp.
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
3.4. Siemens AG
3.4.1. Overview
3.4.2. Financial Analysis
3.4.3. SWOT Analysis
3.4.4. Recent Developments
3.5. Key Strategy Analysis
4. Market Segmentation
4.1. Global Substation Monitoring System Market by Component
4.1.1. Hardware
4.1.1.1. Distribution Network Feeders
4.1.1.2. Smart Sensors
4.1.1.3. Microcontrollers
4.1.1.4. Cameras
4.1.1.5. Intelligent Electronic Devices (IEDs)
4.1.2. Software
4.1.2.1. Asset Management
4.1.2.2. Production Management
4.1.2.3. Performance Management
4.2. Global Substation Monitoring System Market by Communication Technology
4.2.1. Wired
4.2.2. Wireless
4.3. Global Substation Monitoring System Market by Industry
4.3.1. Utility
4.3.2. Oil and Gas
4.3.3. Mining
4.3.4. Steel
4.3.5. Transportation
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. Alstom SA
6.2. ALTANOVA GROUP
6.3. ARTECHE
6.4. Beckwith Electric
6.5. Cisco Systems, Inc.
6.6. Eaton
6.7. Efacec
6.8. Electrosal
6.9. Emerson Electric Co.
6.10. Fluke Process Instruments.
6.11. Kalki Communication Technologies Pvt Ltd.
6.12. KEMSYS Technologies
6.13. Mitsubishi Electric Corp
6.14. NovaTech, LLC.
6.15. Powell Industries.
6.16. Rockwell Automation
6.17. Schneider Electric
6.18. Schweitzer Engineering Laboratories, Inc.
6.19. Toshiba Energy Systems & Solutions Corp.
6.20. Viper Imaging
6.21. Yokogawa India Ltd.
1. GLOBAL SUBSTATION MONITORING SYSTEM MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2023-2031 ($ MILLION)
2. GLOBAL SUBSTATION MONITORING SYSTEM HARDWARE MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
3. GLOBAL SUBSTATION MONITORING DISTRIBUTION NETWORK FEEDERS SYSTEM MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
4. GLOBAL SUBSTATION MONITORING SMART SENSORS SYSTEM MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
5. GLOBAL SUBSTATION MONITORING MICROCONTROLLERS SYSTEM MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
6. GLOBAL SUBSTATION MONITORING CAMERAS SYSTEM MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
7. GLOBAL SUBSTATION MONITORING INTELLIGENT ELECTRONIC DEVICES (IEDS) SYSTEM MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
8. GLOBAL SUBSTATION MONITORING SYSTEM SOFTWARE MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
9. GLOBAL SUBSTATION MONITORING ASSET MANAGEMENT SYSTEM MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
10. GLOBAL SUBSTATION MONITORING PRODUCTION MANAGEMENT SYSTEM MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
11. GLOBAL SUBSTATION MONITORING PERFORMANCE MANAGEMENT SYSTEM MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
12. GLOBAL SUBSTATION MONITORING SYSTEM MARKET RESEARCH AND ANALYSIS BY COMMUNICATION TECHNOLOGY, 2023-2031 ($ MILLION)
13. GLOBAL WIRED SUBSTATION MONITORING SYSTEM MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
14. GLOBAL WIRELESS SUBSTATION MONITORING SYSTEM MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
15. GLOBAL SUBSTATION MONITORING SYSTEM MARKET RESEARCH AND ANALYSIS BY INDUSTRY, 2023-2031 ($ MILLION)
16. GLOBAL SUBSTATION MONITORING SYSTEM FOR UTILITY MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
17. GLOBAL SUBSTATION MONITORING SYSTEM FOR OIL AND GAS MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
18. GLOBAL SUBSTATION MONITORING SYSTEM FOR MINING MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
19. GLOBAL SUBSTATION MONITORING SYSTEM FOR STEEL MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
20. GLOBAL SUBSTATION MONITORING SYSTEM FOR TRANSPORTATION MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
21. GLOBAL SUBSTATION MONITORING SYSTEM MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
22. NORTH AMERICAN SUBSTATION MONITORING SYSTEM MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2023-2031 ($ MILLION)
23. NORTH AMERICAN SUBSTATION MONITORING SYSTEM MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2023-2031 ($ MILLION)
24. NORTH AMERICAN SUBSTATION MONITORING SYSTEM MARKET RESEARCH AND ANALYSIS BY COMMUNICATION TECHNOLOGY, 2023-2031 ($ MILLION)
25. NORTH AMERICAN SUBSTATION MONITORING SYSTEM MARKET RESEARCH AND ANALYSIS BY INDUSTRY, 2023-2031 ($ MILLION)
26. EUROPEAN SUBSTATION MONITORING SYSTEM MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2023-2031 ($ MILLION)
27. EUROPEAN SUBSTATION MONITORING SYSTEM MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2023-2031 ($ MILLION)
28. EUROPEAN SUBSTATION MONITORING SYSTEM MARKET RESEARCH AND ANALYSIS BY COMMUNICATION TECHNOLOGY, 2023-2031 ($ MILLION)
29. EUROPEAN SUBSTATION MONITORING SYSTEM MARKET RESEARCH AND ANALYSIS BY INDUSTRY, 2023-2031 ($ MILLION)
30. ASIA- PACIFIC SUBSTATION MONITORING SYSTEM MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2023-2031 ($ MILLION)
31. ASIA- PACIFIC SUBSTATION MONITORING SYSTEM MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2023-2031 ($ MILLION)
32. ASIA- PACIFIC SUBSTATION MONITORING SYSTEM MARKET RESEARCH AND ANALYSIS BY COMMUNICATION TECHNOLOGY, 2023-2031 ($ MILLION)
33. ASIA- PACIFIC SUBSTATION MONITORING SYSTEM MARKET RESEARCH AND ANALYSIS BY INDUSTRY, 2023-2031 ($ MILLION)
34. REST OF THE WORLD SUBSTATION MONITORING SYSTEM MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
35. REST OF THE WORLD SUBSTATION MONITORING SYSTEM MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2023-2031 ($ MILLION)
36. REST OF THE WORLD SUBSTATION MONITORING SYSTEM MARKET RESEARCH AND ANALYSIS BY COMMUNICATION TECHNOLOGY, 2023-2031 ($ MILLION)
37. REST OF THE WORLD SUBSTATION MONITORING SYSTEM MARKET RESEARCH AND ANALYSIS BY INDUSTRY, 2023-2031 ($ MILLION)
1. GLOBAL SUBSTATION MONITORING SYSTEM MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2023 VS 2031 (%)
2. GLOBAL SUBSTATION MONITORING SYSTEM HARDWARE MARKET RESEARCH AND ANALYSIS BY REGION, 2023 VS 2031 (%)
3. GLOBAL SUBSTATION MONITORING DISTRIBUTION NETWORK FEEDERS SYSTEM MARKET RESEARCH AND ANALYSIS BY REGION, 2023 VS 2031 (%)
4. GLOBAL SUBSTATION MONITORING SMART SENSORS SYSTEM TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY REGION, 2023 VS 2031 (%)
5. GLOBAL SUBSTATION MONITORING MICROCONTROLLERS SYSTEM MARKET RESEARCH AND ANALYSIS BY REGION, 2023 VS 2031 (%)
6. GLOBAL SUBSTATION MONITORING CAMERAS SYSTEM MARKET RESEARCH AND ANALYSIS BY REGION, 2023 VS 2031 (%)
7. GLOBAL SUBSTATION MONITORING INTELLIGENT ELECTRONIC DEVICES (IEDS) SYSTEM MARKET RESEARCH AND ANALYSIS BY REGION, 2023 VS 2031 (%)
8. GLOBAL SUBSTATION MONITORING SYSTEM SOFTWARE MARKET RESEARCH AND ANALYSIS BY REGION, 2023 VS 2031 (%)
9. GLOBAL SUBSTATION MONITORING ASSET MANAGEMENT SYSTEM MARKET RESEARCH AND ANALYSIS BY REGION, 2023 VS 2031 (%)
10. GLOBAL SUBSTATION MONITORING PRODUCTION MANAGEMENT SYSTEM MARKET RESEARCH AND ANALYSIS BY REGION, 2023 VS 2031 (%)
11. GLOBAL SUBSTATION MONITORING PERFORMANCE MANAGEMENT SYSTEM MARKET RESEARCH AND ANALYSIS BY REGION, 2023 VS 2031 (%)
12. GLOBAL SUBSTATION MONITORING SYSTEM MARKET RESEARCH AND ANALYSIS BY COMMUNICATION TECHNOLOGY, 2023 VS 2031 (%)
13. GLOBAL WIRED SUBSTATION MONITORING SYSTEM MARKET RESEARCH AND ANALYSIS BY REGION, 2023 VS 2031 (%)
14. GLOBAL WIRELESS SUBSTATION MONITORING SYSTEM MARKET RESEARCH AND ANALYSIS BY REGION, 2023 VS 2031 (%)
15. GLOBAL SUBSTATION MONITORING SYSTEM MARKET RESEARCH AND ANALYSIS BY INDUSTRY, 2023 VS 2031 (%)
16. GLOBAL SUBSTATION MONITORING SYSTEM FOR UTILITY MARKET RESEARCH AND ANALYSIS BY REGION, 2023 VS 2031 (%)
17. GLOBAL SUBSTATION MONITORING SYSTEM FOR OIL AND GAS MARKET RESEARCH AND ANALYSIS BY REGION, 2023 VS 2031 (%)
18. GLOBAL SUBSTATION MONITORING SYSTEM FOR MINING MARKET RESEARCH AND ANALYSIS BY REGION, 2023 VS 2031 (%)
19. GLOBAL SUBSTATION MONITORING SYSTEM FOR STEEL MARKET RESEARCH AND ANALYSIS BY REGION, 2023 VS 2031 (%)
20. GLOBAL SUBSTATION MONITORING SYSTEM FOR TRANSPORTATION MARKET RESEARCH AND ANALYSIS BY REGION, 2023 VS 2031 (%)
21. GLOBAL SUBSTATION MONITORING SYSTEM MARKET RESEARCH AND ANALYSIS BY REGION, 2023 VS 2031 (%)
22. US SUBSTATION MONITORING SYSTEM MARKET SIZE, 2023-2031 ($ MILLION)
23. CANADA SUBSTATION MONITORING SYSTEM MARKET SIZE, 2023-2031 ($ MILLION)
24. UK SUBSTATION MONITORING SYSTEM MARKET SIZE, 2023-2031 ($ MILLION)
25. FRANCE SUBSTATION MONITORING SYSTEM MARKET SIZE, 2023-2031 ($ MILLION)
26. GERMANY SUBSTATION MONITORING SYSTEM MARKET SIZE, 2023-2031 ($ MILLION)
27. ITALY SUBSTATION MONITORING SYSTEM MARKET SIZE, 2023-2031 ($ MILLION)
28. SPAIN SUBSTATION MONITORING SYSTEM MARKET SIZE, 2023-2031 ($ MILLION)
29. REST OF EUROPE SUBSTATION MONITORING SYSTEM MARKET SIZE, 2023-2031 ($ MILLION)
30. INDIA SUBSTATION MONITORING SYSTEM MARKET SIZE, 2023-2031 ($ MILLION)
31. CHINA SUBSTATION MONITORING SYSTEM MARKET SIZE, 2023-2031 ($ MILLION)
32. JAPAN SUBSTATION MONITORING SYSTEM MARKET SIZE, 2023-2031 ($ MILLION)
33. SOUTH KOREA SUBSTATION MONITORING SYSTEM MARKET SIZE, 2023-2031 ($ MILLION)
34. REST OF ASIA-PACIFIC SUBSTATION MONITORING SYSTEM MARKET SIZE, 2023-2031 ($ MILLION)
35. REST OF THE WORLD SUBSTATION MONITORING SYSTEM MARKET SIZE, 2023-2031 ($ MILLION)
