Substations are key components of the power grid enabling efficient transmission and distribution (T&D) of power from increasingly complex sources (including conventional and renewable sources) to the demand centers. While developed markets will draw attention toward advanced substation automation solutions with interoperability features, emerging economies in APAC and African regions will experience a shift from basic to mid-tier automation solutions. Willingness to automate and regulatory compliance are likely to drive the adoption of substation automation solutions globally. The global substation automation and integration market, estimated at $1.99 billion in 2015, is expected to record a growth rate of 5.6% during the forecast period.
Key Questions this Study will Answer
- Is the market growing? If yes, how long will it continue to grow and at what rate?
- What are the key factors that will drive the global substation automation market in the coming years?
- What are the key factors that are likely to challenge the growth of the global substation automation market during the forecast period?
- Which are the key regions that are expected to contribute significantly to the growth of the market?
- What are the key competitive factors that are likely to influence customer decision in the global substation automation market?
- How is the competitive landscape split across substation automation providers globally?