Substation Monitoring System Market by Component (Hardware/Software), Communication Technology (Wired/Wireless), Sector (Transmission & Distribution), Industry (Utility, Oil/Gas, Mining, Steel & Transportation) & Geography - Global Forecast to 2023

  • ID: 4415706
  • Report
  • Region: Global
  • 168 Pages
  • Markets and Markets
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The Substation Monitoring System Market is Expected to Grow at a CAGR of 7.8% Between 2017 And 2023 And Would Be Worth USD 3.32 Billion By 2017.

FEATURED COMPANIES

  • ABB
  • Crompton Greaves
  • Emerson Electric
  • Honeywell
  • I-Tor
  • Schneider Electric
  • MORE

“Substation monitoring system market expected to grow at a significant rate between 2017 and 2023”

The key factors driving the growth of the substation monitoring system market are the development strategies implemented by the players operating in the substation monitoring system, such as contracts and agreements, product launches and developments, partnerships, and expansions, as well as the growing demand for reduction in transmission and distribution losses, aging infrastructure, need for increasing the government support, development in the IEC 61850 standard to enable interoperability between IEDs, and improving IoT-based communication network. However, the major restraining factors for the growth of this market are high capital expenditure for installations of wireless sensor networks and increasing cost of installations of IEDs in substation.

“Hardware component expected to hold a larger share of the substation monitoring system market during the forecast period”

The hardware component is expected to hold a larger share of the overall substation monitoring system market owing to its uses in the utility, steel, oil & gas, mining, and transportation industries for building the monitoring platform. Moreover, the hardware components are the devices, which help to control, measure, transmit, and analyze the data in the process and non-process industries. The hardware devices such as distribution network feeders, smart sensors, microcontrollers, cameras, and intelligent electronic devices (IEDs) are inbuilt in the electrical substations for online monitoring purposes. Owing to this, real-time information is collected with the help of these devices, which helps in increasing the chances of getting uninterrupted power supply in the industries. As a result, the hardware component is expected to hold a larger share of the substation monitoring system market during the forecast period.

“Utility industry expected to hold the largest share of the overall substation monitoring system market in 2017”

Growing demand for reduction in transmission and distribution losses has created a demand for substation monitoring system in the industries. Utility is the largest industry in the substation monitoring system market. Utility includes non-renewable and renewable sources of energy to fulfill the demand for electricity. The non-renewables sources include coal, crude oil, natural gas, and nuclear, which is used for power generation. Renewable sources include solar, wind, water, and others for electricity generation. The increasing number of program launches related to demonstrating and subsidizing solar farm projects in Asian countries, such as India, China, Japan, Australia, South Korea, and Africa, is driving the growth of the substation monitoring system market for the utility industry.

“Substation monitoring system market in Asia Pacific expected to grow at the highest rate during the forecast period”

The substation monitoring system market in Asia Pacific (APAC) is expected to grow at the highest CAGR between 2017 and 2023. The substation monitoring system market in emerging economies, such as China, India, and South Korea, is expected to grow at the highest CAGR because of the rising need for power management and monitoring services for reducing transmission and distribution losses among various industries such as utility, steel, mining, transportation, and oil & gas. China, Japan, and South Korea are the major countries driving the growth of the substation monitoring system market in APAC. The governments of these countries are investing heavily in implementing monitoring services of electrical substations.

Following is the break-up of the profiles of primary participants for the report:

  • By Company: Tier 1 - 55%, Tier 2 - 25%, and Tier 3 - 20%
  • By Designation: C-Level Executives - 50%, Directors - 25%,  and Managers - 25%
  • By Region: North America - 60%, Europe - 10%, APAC - 20%, and RoW - 10%.

The key players operating in the substation monitoring system market are ABB (Switzerland), Honeywell (US), Siemens (Germany), Schneider Electric (France), Emerson Electric (US), General Electric (US), Eaton  (Ireland), Schweitzer Engineering Laboratories (US), NovaTech (UK), Crompton Greaves (India), iGrid T&D (Spain), Sentient Energy (California), Cadillac Automation and Controls (India), TEKVEL (Russia), and i-TOR (Russia).

Research Coverage:

In this research report, the substation monitoring system market is segmented on the basis of component, communication technology, sector, industry, and region. The market has been segmented based on component into hardware and software. Hardware is further divided into distribution network feeders, smart sensors, microcontrollers, cameras, and intelligent electronic devices (IEDs). Software is divided into asset management, production management, and performance management. Based on communication technology, the substation monitoring system market has been classified into wired and wireless. Based on sector, the market has been classified into transmission and distribution. The market has been segmented by industry into utility, steel, mining, transportation, and oil & gas. Utility industry is further divided into renewable and non-renewable.

Key Benefits of Buying the Report:

  • Illustrative segmentation, analysis, and forecast of the substation monitoring system market based on component, communication technology, sector, industry, and region have been provided to present an overall view of this market.
  • The value chain analysis is provided for in-depth insight into the substation monitoring system market.
  • The major drivers, restraints, opportunities, and challenges in the substation monitoring system market have been detailed in this report.
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FEATURED COMPANIES

  • ABB
  • Crompton Greaves
  • Emerson Electric
  • Honeywell
  • I-Tor
  • Schneider Electric
  • MORE

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Markets Covered
1.3.2 Years Considered for the Study
1.3.3 Geographic Scope
1.4 Currency
1.5 Limitations
1.6 Package Size
1.7 Market Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data from Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data from Primary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Primaries
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.2.3 Market Share Estimation
2.3 Market Breakdown And Data Triangulation
2.4 Research Assumptions

3 Executive Summary

4 Premium Insights
4.1 Attractive Market Opportunities in Overall Substation Monitoring System Market
4.2 Substation Monitoring System Market, By Communication Technology
4.3 Apac Substation Monitoring System Market, By Industry
4.4 Geographic Analysis of Substation Monitoring System Market
4.5 Substation Monitoring System Market in North America, By Country
4.6 Substation Monitoring System Market, By Industry
 
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Demand for Reduction in Transmission And Distribution Losses
5.2.1.2 Aging Infrastructure
5.2.1.3 Increasing Investments (Contracts) from the Government
5.2.1.4 Developing Iec 61850 Standard to Enable Interoperability Between Ieds
5.2.1.5 Improving Iot-Based Communication Network
5.2.2 Restraints
5.2.2.1 High Capital Expenditure for Installations of Wireless Sensor Networks
5.2.2.2 Increasing Cost of Installations of Ieds in Substation
5.2.3 Opportunities
5.2.3.1 Growing Demand for Renewable Energy Projects
5.2.4 Challenges
5.2.4.1 Cyber-Risks in the Power Industry
5.2.4.2 Harsh Environmental Conditions
5.3 Value Chain Analysis

6 Substation Monitoring System Market, By Component
6.1 Introduction
6.2 Hardware
6.2.1 Intelligent Electronic Devices
6.2.1.1 Transformer
6.2.1.1.1 Voltage Instrument Transformer
6.2.1.1.2 Current Instrument Transformer
6.2.1.2 Relay Devices
6.2.1.3 Recloser Controllers
6.2.1.4 Circuit Breakers
6.2.1.5 Switches
6.2.2 Distribution Network Feeders
6.2.3 Others
6.2.3.1 Smart Sensors
6.2.3.2 Microcontrollers
6.2.3.3 Cameras
6.3 Software
6.3.1 Asset Management
6.3.2 Production Management
6.3.3 Performance Management

7 Substation Monitoring System Market, By Communication Technology
7.1 Introduction
7.2 Wired Communication Technology
7.2.1 Fiber Optic
7.2.2 Ethernet
7.2.3 Profibus
7.2.4 Others
7.2.4.1 Fieldbus
7.2.4.2 Hart
7.2.4.3 Modbus
7.3 Wireless Communication
7.3.1 Wireless Lan (Wi-Fi)
7.3.2 Zigbee
7.3.3 Cellular Technology

8 Substation Monitoring System Market, By Sector
8.1 Introduction
8.2 Transmission
8.3 Distribution

9 Substation Monitoring System Market, By Industry
9.1 Introduction
9.2 Oil & Gas
9.3 Steel
9.4 Utility
9.4.1 Non-Renewable
9.4.2 Renewable
9.5 Mining
9.6 Transportation

10 Geographic Analysis
10.1 Introduction
10.2 Asia Pacific
10.2.1 China
10.2.2 India
10.2.3 Japan
10.2.4 Rest of Apac
10.3 North America
10.3.1 Us
10.3.2 Canada
10.3.3 Mexico
10.4 Europe
10.4.1 Uk
10.4.2 France
10.4.3 Germany
10.4.4 Rest of Europe
10.5 Row
10.5.1 Middle East
10.5.2 Africa
10.5.3 South America

11 Competitive Landscape
11.1 Overview
11.2 Market Share Analysis
11.3 Competitive Scenario
11.3.1 Product Launches/Product Developments
11.3.2 Partnerships, Acquisitions, Contracts, And Agreements

12 Company Profiles
(Business Overview, Products Offered, Product Offering Scorecard, Business Strategy Scorecard, Recent Developments, Key Relationships)*
12.1 Abb
12.2 Siemens
12.3 General Electric
12.4 Schneider Electric
12.5 Cisco
12.6 Honeywell
12.7 Emerson Electric
12.8 Eaton
12.9 Crompton Greaves
12.10 Schweitzer Engineering Laboratories
12.11 Novatech
12.12 Key Innovators
12.12.1 Introduction
12.12.2 Igrid T&D
12.12.3 Sentient Energy
12.12.4 Cadillac Automation And Controls
12.12.5 Tekvel
12.12.6 I-Tor
*Details On Business Overview, Products Offered, Product Offering Scorecard, Business Strategy Scorecard, Recent Developments, Key Relationships Might Not Be Captured in Case of Unlisted Companies.

13 Appendix
13.1 Insights of Industry Experts
13.2 Discussion Guide
13.3 Knowledge Store: Subscription Portal
13.4 Introducing Rt: Real-Time Market Intelligence
13.5 Available Customizations
13.6 Related Reports
13.7 Author Details

List of Tables:
Table 1 Substation Monitoring System Market, By Component, 2014-2023 (USD Million)
Table 2 Substation Monitoring System Market for Transmission, By Component, 2014-2023 (USD Million)
Table 3 Substation Monitoring System Market for Distribution, By Component, 2014-2023 (USD Million)
Table 4 Substation Monitoring System Market, By Hardware, 2014-2023 (USD Million)
Table 5 Substation Monitoring System Market for Transmission, By Hardware, 2014-2023 (USD Million)
Table 6 Substation Monitoring System Market for Distribution, By Hardware, 2014-2023 (USD Million)
Table 7 Substation Monitoring System Market, By Software, 2014-2023 (USD Million)
Table 8 Substation Monitoring System Market for Transmission, By Software, 2014-2023 (USD Million)
Table 9 Substation Monitoring System Market for Distribution, By Software, 2014-2023 (USD Million)
Table 10 Substation Monitoring System Market, By Communication Technology, 2014-2023 (USD Million)
Table 11 Substation Monitoring System Market for Communication Technology, By Wired, 2014-2023 (USD Million)
Table 12 Substation Monitoring System Market for Communication Technology, By Fiber Optic, 2014-2023 (USD Million)
Table 13 Substation Monitoring System Market for Communication Technology, By Ethernet, 2014-2023 (USD Million)
Table 14 Substation Monitoring System Market for Communication Technology, By Profibus, 2014-2023 (USD Million)
Table 15 Substation Monitoring System Market for Communication Technology, By Others, 2014-2023 (USD Million)
Table 16 Substation Monitoring System Market for Communication Technology, By Wireless, 2014-2023 (USD Million)
Table 17 Substation Monitoring System Market for Communication Technology, By Wireless Lan, 2014-2023 (USD Million)
Table 18 Substation Monitoring System Market for Communication Technology, By Zigbee, 2014-2023 (USD Million)
Table 19 Substation Monitoring System Market for Communication Technology, By Cellular, 2014-2023 (USD Million)
Table 20 Substation Monitoring System Market, By Sector, 2014-2023 (USD Million)
Table 21 Substation Monitoring System Market for Transmission, By Industry, 2014-2023 (USD Million)
Table 22 Substation Monitoring System Market for Transmission, By Communication Technology, 2014-2023 (USD Million)
Table 23 Substation Monitoring System Market for Distribution, By Industry, 2014-2023 (USD Million)
Table 24 Substation Monitoring System Market for Distribution, By Communication Technology, 2014-2023 (USD Million)
Table 25 Substation Monitoring System Market, By Industry, 2014-2023 (USD Million)
Table 26 Substation Monitoring System Market for Oil & Gas, By Communication Technology, 2014-2023 (USD Million)
Table 27 Substation Monitoring System Market for Oil & Gas, By Sector, 2014-2023 (USD Million)
Table 28 Substation Monitoring System Market for Steel, By Communication Technology, 2014-2023 (USD Million)
Table 29 Substation Monitoring System Market for Steel, By Sector, 2014-2023 (USD Million)
Table 30 Substation Monitoring System Market for Utility, By Communication Technology, 2014-2023 (USD Million)
Table 31 Substation Monitoring System Market for Utility, By Sector, 2014-2023 (USD Million)
Table 32 Substation Monitoring System Market for Utility, By Non-Renewable, 2014-2023 (USD Million)
Table 33 Substation Monitoring System Market for Utility, By Renewable, 2014-2023 (USD Million)
Table 34 Substation Monitoring System Market for Mining, By Communication Technology, 2014-2023 (USD Million)
Table 35 Substation Monitoring System Market for Mining, By Sector, 2014-2023 (USD Million)
Table 36 Substation Monitoring System Market for Transportation, By Communication Technology, 2014-2023 (USD Million)
Table 37 Substation Monitoring System Market for Transportation, By Sector, 2014-2023 (USD Million)
Table 38 Substation Monitoring System Market, By Region, 2014-2023 (USD Million)
Table 39 Substation Monitoring System Market in Apac, By Country/Region, 2014-2023 (USD Million)
Table 40 Substation Monitoring System Market in Apac, By Industry, 2014-2023 (USD Million)
Table 41 Substation Monitoring System Market in China, By Industry, 2014-2023 (USD Million)
Table 42 Substation Monitoring System Market in India, By Industry, 2014-2023 (USD Million)
Table 43 Substation Monitoring System Market in Japan, By Industry, 2014-2023 (USD Million)
Table 44 Substation Monitoring System Market in Rest of Apac, By Industry, 2014-2023 (USD Million)
Table 45 Substation Monitoring System Market in North America, By Country, 2014-2023 (USD Million)
Table 46 Substation Monitoring System Market in North America, By Industry, 2014-2023 (USD Million)
Table 47 Substation Monitoring System Market in Us, By Industry, 2014-2023 (USD Million)
Table 48 Substation Monitoring System Market in Canada, By Industry, 2014-2023 (USD Million)
Table 49 Substation Monitoring System Market in Mexico, By Industry, 2014-2023 (USD Million)
Table 50 Substation Monitoring System Market in Europe, By Country/Region, 2014-2023 (USD Million)
Table 51 Substation Monitoring System Market in Europe, By Industry, 2014-2023 (USD Million)
Table 52 Substation Monitoring System Market in Uk, By Industry, 2014-2023 (USD Million)
Table 53 Substation Monitoring System Market in France, By Industry, 2014-2023 (USD Million)
Table 54 Substation Monitoring System Market in Germany, By Industry, 2014-2023 (USD Million)
Table 55 Substation Monitoring System Market in Rest of Europe, By Industry, 2014-2023 (USD Million)
Table 56 Substation Monitoring System Market in Row, By Region, 2014-2023 (USD Million)
Table 57 Substation Monitoring System Market in Row, By Industry, 2014-2023 (USD Million)
Table 58 Substation Monitoring System Market in Middle East, By Industry, 2014-2023 (USD Million)
Table 59 Substation Monitoring System Market in Africa, By Industry, 2014-2023 (USD Million)
Table 60 Substation Monitoring System Market in South America, By Industry, 2014-2023 (USD Million)
Table 61 Top 5 Players in the Substation Monitoring System Market, 2016
Table 62 10 Most Recent Product Launches And Developments in Substation Monitoring System Market
Table 63 5 Most Recent Acquisitions, Partnerships, Agreements, And Contracts in Substation Monitoring System Market

List of Figures:
Figure 1 Market Segmentation
Figure 2 Research Design
Figure 3 Research Flow of Market Size Estimation
Figure 4 Market Size Estimation Methodology: Bottom-Up Approach
Figure 5 Market Size Estimation Methodology: Top-Down Approach
Figure 6 Data Triangulation
Figure 7 Assumptions of the Research Study
Figure 8 Utility Industry to Hold Largest Share of Substation Monitoring System Market During Forecast Period
Figure 9 Hardware to Hold Largest Share of Substation Monitoring System Market During Forecast Period
Figure 10 Transmission to Hold Largest Share of Substation Monitoring System Market During Forecast Period
Figure 11 Oil & Gas Expected to Be Fastest Growing Industry in Substation Monitoring System Market During Forecast Period
Figure 12 Apac to Be Fastest-Growing Region in Substation Monitoring System Market During Forecast Period
Figure 13 Growing Demand for Reduction in Transmission And Distribution Losses to Drive Growth of Substation Monitoring System Market
Figure 14 Wired Communication Technology to Lead Substation Monitoring System Market During Forecast Period
Figure 15 Utility And Apac Expected to Hold Largest Share of Substation Monitoring System Market By 2023
Figure 16 China Expected to Witness Highest CAGR in Substation Monitoring System Market in Apac By 2023
Figure 17 Substation Monitoring System Market in Canada is Expected to Grow at Highest CAGR During Forecast Period
Figure 18 Utility Expected to Hold Largest Share in Substation Monitoring System Market During Forecast Period
Figure 19 Value Chain Analysis: Major Value is Added During Manufacturing And Transmission Phases
Figure 20 Hardware Held Largest Share of Substation Monitoring System Market for Component in 2016
Figure 21 Ieds Expected to Grow at Highest CAGR in Substation Monitoring System Market for Hardware During Forecast Period
Figure 22 Distribution Network Feeders Application
Figure 23 Microcontrollers
Figure 24 Asset Management Expected to Grow at Highest Rate in Substation Monitoring System Market for Software During Forecast Period
Figure 25 Substation Monitoring System Configuration, By Communication Technology
Figure 26 Substation Monitoring System Market for Wireless Communication Technology Expected to Grow at Higher CAGR During Forecast Period
Figure 27 Profibus Expected to Grow at a Higher CAGR in Substation Monitoring System Market for Wired Communication Technology During Forecast Period
Figure 28 Wireless Lan Expected to Grow at Higher CAGR in Substation Monitoring System Market for Wireless Communication Technology During Forecast Period
Figure 29 Substation Monitoring System Market for Distribution Sector Expected to Grow at Higher CAGR During Forecast Period
Figure 30 Oil & Gas Industry Expected to Grow at Highest CAGR in Substation Monitoring System Market for Transmission Between 2017 And 2023
Figure 31 Market for Oil & Gas Industry Based On Distribution Sector Expected to Grow at the Highest Rate During the Forecast Period
Figure 32 Substation Monitoring System Market, By Industry
Figure 33 Oil & Gas Industry Expected to Grow at Highest CAGR in Substation Monitoring System Market During Forecast Period
Figure 34 Coal Held Largest Share of Substation Monitoring System Market for Utility Industry Based On Non-Renewable in 2016
Figure 35 Solar Expected to Grow at Highest CAGR in Substation Monitoring System Market for Utility Industry Based On Renewable During Forecast Period
Figure 36 Substation Monitoring System Market, By Geography
Figure 37 Snapshot of Substation Monitoring System Market in Apac
Figure 38 Snapshot of Substation Monitoring System Market in North America
Figure 39 Snapshot of Substation Monitoring System Market in Europe
Figure 40 Snapshot of Substation Monitoring System Market in Row
Figure 41 Companies in Substation Monitoring System Market Adopted Product Launches As Key Growth Strategy Between January 2013 And May 2017
Figure 42 Substation Monitoring System Market: Evaluation Framework
Figure 43 Battle for Market Share
Figure 44 Abb: Company Snapshot
Figure 45 Siemens: Company Snapshot
Figure 46 General Electric: Company Snapshot
Figure 47 Schneider Electric: Company Snapshot
Figure 48 Cisco: Company Snapshot
Figure 49 Honeywell : Company Snapshot
Figure 50 Emerson Electric: Company Snapshot
Figure 51 Eaton: Company Snapshot
Figure 52 Crompton Greaves: Company Snapshot

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FEATURED COMPANIES

  • ABB
  • Crompton Greaves
  • Emerson Electric
  • Honeywell
  • I-Tor
  • Schneider Electric
  • MORE

The substation monitoring system market is expected to grow from USD 3.32 Billion in 2017 to USD 5.21 Billion by 2023, at a CAGR of 7.8% between 2017 and 2023. The growth of this market is fueled by the growing demand for reduction in transmission and distribution losses, aging infrastructure, increasing investments (contracts) from the government, and improving IoT-based communication network. Moreover, the advantages of developing IEC 61850 standard to enable interoperability between IEDs and developments in the substation monitoring ecosystem through organic and inorganic growth strategies, such as product developments, expansions, partnerships, contracts and agreements, and acquisitions, would further drive the growth of this market.

Between hardware and software component, the market for software is expected to grow at a higher CAGR between 2017 and 2023. Despite the challenges such as cyber threat and harsh environmental conditions in the power industry, the market for software is expected to grow at the highest rate. The increasing use of electricity in the industrial sector and demand for uninterrupted power in emerging economies, such as China and India, are driving the growth of the substation monitoring system market for software. Moreover, a growing need for reducing electricity losses through monitoring is driving the growth of the substation monitoring system market for software.

The substation monitoring system market for wireless communication technology is expected to grow at a high CAGR between 2017 and 2023, owing to the growing adoption of wireless communication technology over wired communication technology in remote electrical substations for online monitoring purposes.

The substation monitoring system market for the distribution sector is expected to grow at a high CAGR between 2017 and 2023, owing to the increasing demand for electricity, which would drive the need for upgrading aging infrastructure. The existing infrastructure cannot sustain bulk power movements. Hence, there is a need for substation monitoring systems to reduce the losses and maximize the electricity efficiency.

Among various industries, utility held the largest share of the overall substation monitoring system market in 2016. This is attributed to the growing use of substation monitoring system and services for reduction in transmission and distribution losses and aging infrastructure of electrical substations.

Asia Pacific (APAC) is expected to hold the largest share of the substation monitoring system market during the forecast period. The substation monitoring system market in emerging economies, such as China, India, and South Korea, is expected to grow at the highest CAGR because of the rising need for reduction in transmission and distribution losses in these countries.

The key restraining factor for the growth of the substation monitoring system market is the high capital expenditure for installations of wireless sensor networks and increasing cost of installations of IEDs in substation. The consumers of substation monitoring systems are the key players in industries such as utility, oil & gas, mining, steel, and transportation. The major demand for substation monitoring system and services is from the utility and mining industries. While both these industries are growing rapidly, they face a stiff price competition in the market. Therefore, the players in these industries demand low-cost substation monitoring systems to bring down the price of the final product and services.

Key market players in the substation monitoring system market are ABB (Switzerland), Honeywell (US), Siemens (Germany), Schneider Electric (France), Emerson Electric (US), General Electric (US), Eaton (Ireland), Schweitzer Engineering Laboratories (US), NovaTech (UK), and Crompton Greaves (India). These companies focus on strategies such as product launches and developments, expansions, contracts and agreements, and acquisitions to enhance their service offerings and expand their business.

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  • ABB
  • Cadillac Automation And Controls
  • Cisco
  • Crompton Greaves
  • Eaton
  • Emerson Electric
  • General Electric
  • Honeywell
  • Igrid T&D
  • I-Tor
  • Novatech
  • Schneider Electric
  • Schweitzer Engineering Laboratories
  • Sentient Energy
  • Siemens
  • Tekvel
Note: Product cover images may vary from those shown
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