The Substation Automation Market is
anticipated to reach around USD 207.8 billion by 2026 according to a new
research published by Polaris Market Research. In 2017, the Intelligent
Electronic Devices segment dominated the substation automation global market,
in terms of revenue. North America is expected to be the leading contributor to
the global market revenue during the forecast period.
The growing
adoption of smart cities, along with high demand of smart grids has boosted the
adoption of substation automation. The rising demand for electricity, and
growing demand for efficient and low-cost solutions in the solar energy sector
further support the growth of substation automation market. Increasing
investments by vendors in technological advancements, growing need to update
existing networks, and increasing demand for retrofitting conventional
substations would accelerate the adoption of substation automation during the
forecast period. Growing demand from emerging economies, increasing adoption
smart grid applications, and technological advancements are expected to provide
numerous growth opportunities in the coming years.
Get More
Insights About The Substation Automation Market Or Request For Sample Of This
Report- https://www.polarismarketresearch.com/industry-analysis/substation-automation-market/request-for-sample
North
America generated the highest revenue in the market in 2017, and is expected to
lead the global substation automation market throughout the forecast period.
The presence of established telecom and cloud infrastructure in this region,
and growing trend of smart cities drive substation automation market growth in
the region. The growing demand from energy sector, and technological
advancements further support market growth in the region. The use of smart
technologies in energy and utilities, industrial automation, and intelligent
buildings is expected to support substation automation market growth in this
region during the forecast period.
The
companies operating in substation automation market include Schneider
Electric SE, Cisco Systems, ABB Ltd., Siemens AG, Eaton Corporation Plc.,
General Electric, Honeywell International, Inc., Larsen & Toubro Limited,
Crompton Greaves, and Schweitzer Engineering Laboratories, Inc. These companies
launch new products and collaborate with other market leaders to innovate and
launch new products to meet the increasing needs and requirements of consumers.
Any Special Requirement | Speak to our Industry Expert @ https://www.polarismarketresearch.com/industry-analysis/substation-automation-market/speak-to-analyst
About Polaris Market Research
Polaris Market Research is a global market research and consulting
company. The company specializes in providing exceptional market intelligence
and in-depth business research services for our clientele spread across
different enterprises.
Contact Us:
Polaris Market Research
Phone: 1–646–568–9980
