Substation monitoring is a key tool for utilities as it provides the real-time based data through the integration of software and hardware component. Substation monitoring involves acquiring significant data from the parameters attached to substation assets such as transformers, conductors, and circuit breaker, among others. The substation monitoring system can be structured in three levels. First level involves Data acquisition from each asset through appropriated sensor. Second level involves Data storage and processing at substation level, and third level involves Integration of the data from different substations into the general maintenance management system of the utility.

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Global Substation Monitoring Market is expected to witness high growth during the forecast period due to increasing use of digital protection and control devices in the substation network. Moreover, in order to meet the existing and future demand for efficient utilization and operation of substation equipment, it is expected that the trend for increased automation will continue with the support of latest technology.

Segmentation

Global substation monitoring market has been segmented based on component, communication technology, sector, industry, and region. Based on industries, the market has been classified into oil & gas, utility, steel, transportation, and mining, among others. Utility segment is leading the market owing to the increasing implementation of substation monitoring system for reduction in transmission and distribution losses as well as ageing infrastructure of electric substations.

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Key Players

The key players of global Substation Monitoring Market are Siemens AG, ABB Ltd., Schneider Electric, General Electric, Cisco, Emerson Electric, Honeywell, Eaton, Emerson Electric, Crompton Greaves, Schweitzer Engineering Laboratories, Novatech, Igrid T&D, Sentient Energy, Cadillac Automation and Controls, Tekvel, and I-TOR, among others

Regional Outlook

Region wise, Asia Pacific held the largest market share of the global substation monitoring market in 2017. 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.

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