Substation Automation Market to Surpass Valuation of US$ 49.3 Bn by 2031: Transparency Market Research

Transparency Market Research delivers key insights on the global substation automation market. In terms of revenue, the global substation automation market is estimated to expand at a CAGR of 6.3% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global substation automation market.

The global substation automation market is can broadly classified into different categories such as component, module, communication type, application, and end-user industry. It can be used in transmission and distribution of electrical power.

The report by TMR is the end-product of a study performed using different methodologies including the PESTEL, PORTER, and SWOT analysis. The study with the help of these models shed light on the key financial considerations that players in the substation automation market need to focus on identifying competition and formulate their marketing strategies for both consumer and industrial markets. The report leverages a wide spectrum of research methods including surveys, interviews, and social media listening to analyze consumer behaviors in its entirety.

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Substation Automation Market: Industry Trends and Value Chain

The study on the Home Automation market presents a granular assessment of the macroeconomic and microeconomic factors that have shaped the industry dynamics. An in-depth focus on industry value chain help companies find out effective and pertinent trends that define customer value creation in the market. The analysis presents a data-driven and industry-validated frameworks for understanding the role of government regulations and financial and monetary policies. The analysts offer a deep-dive into the how these factors will shape the value delivery network for companies and firms operating in the market.

The move toward the future transmission and distribution substation is being driven by the desire to add more automation and intelligence to the power grid network in order to address various utility concerns, from cost-cutting to meeting new regulatory requirements such as NERC-CIP (North American Electric Reliability Corporation—Critical Infrastructure Protection)

The market for smart grids is expanding due to a rise in need for efficient electricity transmission, cheaper utility operations and administration expenses, and ultimately lower power bills for consumers. Smart grids in substation automation are also increasing due to a surge in integration of large-scale renewable energy systems and improved security.

Substation Automation Market: Branding Strategies and Competitive Strategies

Some of the key questions scrutinized in the study are:

• What are some of the recent brand building activities of key players undertaken to create customer value in the Home Automation market?
• Which companies are expanding litany of products with the aim to diversify product portfolio?
• Which companies have drifted away from their core competencies and how have those impacted the strategic landscape of the Home Automation market?
• Which companies have expanded their horizons by engaging in long-term societal considerations?
• Which firms have bucked the pandemic trend and what frameworks they adopted to stay resilient?
• What are the marketing programs for some of the recent product launches?

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Smart grids can reduce energy losses in transmission and distribution, improve reliability and productivity, and manage energy demand intelligently and cost-effectively. Module can also be used to integrate new renewable energy sources while keeping old networks stable and reliable. These programs attempt to completely digitize a wide range of operations in various end-use sectors.

Smart grid communication module offers utilities, their suppliers, and their consumers with predictive data and recommendations on how to best manage power. Furthermore, smart grids are being implemented through the use of new technologies in substations and power networks.

Key players operating in the global substation automation market include ABB Ltd. (Switzerland), Trilliant Inc. (U.S.), Alstom S.A. (France), Schneider Electric S.E. (France), Cisco Systems, Inc. (U.S.), Siemens A.G. (Germany), Eaton Corporation Plc. (Ireland), GE Energy Management (U.S.), Itron, Inc. (U.S.) and Echelon Corporation (U.S.), and Mitsubishi Electric Automation.

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Tags: Substation Automation Market, Transmission Substations Market, Distribution Substations Market, Substation Automation Market Growth Rate, Substation Automation Industry Insight, Substation Automation Market Key Developments