Substation automation is an important and an integral part of smart grid rollout. In the process of substation automation, a number of intelligent electronic devices are used in order to reduce the transmission and distribution losses while the electricity is being transferred from the grid. As a result of substation automation, the grid efficiency is increased, the security of the grid is also increased due to the enabling of two way communication, reliable power output is ensured without outages, and the reduction in costs of operating the substations, resulting in both the saving of electricity and money. Hence, the substation automation is a greatly beneficial automation process that helps in efficient and cost effective distribution of electricity.
The global is slated to touch a value of about US$ 142,900 Mn in the year 2022 and display a robust CAGR during the assessment period.
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4 Forecast Highlights on Global Substation Automation Market
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Future Market Insights forecasts the United States substation automation market to exhibit a compound annual growth rate (CAGR) of more than 7% from 2017 to 2022.
The report has also included the profiles of some of the leading companies in the substation automation market like Echelon Corporation, Encore Networks, Inc., ABB Limited, General Electric Company, Cisco Systems, Inc., NovaTech LLC, Schneider Electric SE, Alstom SA, Eaton Corporation Plc and Siemens AG.
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