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World Automation and Control Solutions Market in Power Industry
Frost & Sullivan, Dec 2009, Pages: 238
Rising Energy Requirement Crank up Automation Equipment’s Sales in the Power Industry
The dip in energy consumption during the economic downturn of 2009 will straighten out once the economy rebounds. As various geographies gear up to deal with the hike in demand for power, participants in the automation sector will feel hopeful of a simultaneous rise in demand for their products. India and China are making significant investments in various applications including thermal and hydropower, thereby creating demand for best-in-class automation solutions to meet current and future requirements of their end users. “There is substantial potential for automation solutions in the power industry across both developed and developing nations,” says the analyst of this research. “The introduction of smart grid technologies is expected to drive automation business in developed economies and the latent demand will buoy the prospects in emerging economies.” Participants are likely to obtain most of their revenues from smart grids’ advanced metering infrastructure, distribution automation management, and transmission automation. Notably, the need for testing and certification of these systems is expected to give a huge boost to the automation market.
“Meanwhile, the retirement of baby-bloomers and experienced workforce has resulted in a void which is being filled by a workforce which is low on skill levels,” notes the analyst. “This would drive the adoption rate of knowledge management systems and automation components, as it dramatically reduces the need for personnel.”
While emerging economies mostly invest in green-field power projects, the developed economies invest in retrofits and smart grids. However, end users are being cautious in investing in both legacy system refurbishments and green-field projects due to the current economic situation. The increased interest in alternative energy sources might also dampen the demand for automation equipment in the long term because the level of automation required is very less in renewable electricity generating sources, compared to traditional sources.
To tide over these challenges, automation equipment suppliers have to diligently position their product line and offer comprehensive and value-added features. As price is likely to be a decisive purchase factor, solution providers must also adopt cost-effective migration strategies while upgrading customers’ systems. This strategy would do well in building credibility through tighter integration of heterogeneous solutions and customer-centric service strategies.
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
- DCS
- PLC
-HMI
- SCADA
- Safety systems
- RTOS
This Frost & Sullivan research service titled World Automation and Control Solutions Market in Power Industry provides drivers, market metrics, market trends, revenues, strategies, and end-user forecasts for the automation and control solutions (ACS) market. In this research, Frost & Sullivan's expert analysts thoroughly examine the following products: distributed control system (DCS), programmable logic controller (PLC), human machine interface (HMI), supervisory control and data acquisition (SCADA), safety systems, and real-time optimization and simulation (RTOS).
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