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Substation Automation and Integration Market

The major drivers of the global automation and integration market are the rising investment in smart cities, smart grid infrastructure development projects, growth in the intelligent electronic devices (IEDs), reduces operational and maintenance cost, rising demand for electric and hybrid vehicles, and improved plant productivity by upgrading technologies.

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Substation Automation and Integration Market

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  1. Substation Automation and Integration Market

  2. About VynZ Research… • VynZ Research is a global market research firm offering research, analytics, and consulting services on business strategies. We have a recognized trajectory record and our research database is used by many renowned companies and institutions in the world to strategize and revolutionize business opportunities. The company focuses on providing valuable insights on various technology verticals such as Chemicals, Automotive, Transportation, Energy, Consumer Durables, Healthcare, ICT and other emerging technologies. • VynZ Research has one of the most qualified & experienced analysts, who are constantly tracking the markets and the technologies. The research team has years of proven experience and wide knowledge & understanding of the technology, application, business models, and regulators of the segments and the value chain involved. • A trusted & proven methodology that involves highest quality of primary research, secondary analysis collated & verified through various sources including cross checking with different industry experts. • Serving wide range of customers most of them from Fortune 2000 companies • With a dedicated 24x7 customer helpline our customers can reach for specifying their needs • Developing long term relationship with the clients and satisfying them is one of the crucial notches of the company. VynZ Research aims at gaining and retaining its clients in order to make long term customer relationship.

  3. Substation Automation and Integration Market The global substation automation and integration market is expected to witness a CAGR of 6.6% during the forecast period. The reliability, need for the low-cost, flexibility, and grid efficiency linked with the substation automation and integration may propel the growth of the market during the forecast period. However, high capital investment for installation and regulation issues may hamper the growth of the substation automation and integration market. Nevertheless, the increasing use of digital technology to enhance grid efficiency in smart cities, surging demand for electric and hybrid vehicles, rising focus on improving IEC 61850 standards to handle interoperability issues among electronic devices deployed in substations will boost the growth of the substation automation and integration market.

  4. Substation Automation and Integration Market Hitachi ABB Power Grids launched the new Remote Terminal Unit (RTU) 530 that extends the life of existing power distribution networks and supports the migration to modern technologies with enhanced security features, including secure communication, encryption, and security logging. The COVID-19 pandemic has affected to operations of substation automation industry players and impacted businesses of various other industries like utilities, steel, oil & gas, and transportation. Globally, the government has reduced their expenditure on other areas and the focus was to improve healthcare infrastructure, thus the demand for substation automation products and solutions for national grid projects are likely to shrink.

  5. Substation Automation and Integration Market North America is anticipated to witness the largest market share in the substation automation and integration market during 2021-2027 as it is the lucrative market for substation-related projects in industries like utilities, renewable energy, and oil & gas. Utilities in North America focuses on building next-generation distribution and transmission infrastructure and snowballing the adoption of renewable sources for power generation, especially through wind and solar projects, thus propelling the revenue growth in the substation automation market. Some of the key players operating in the substation automation and integration market: Schweitzer Engineering Laboratories, Inc., Siemens Energy, GE, Schneider Electric, Hitachi Energy Ltd., Encore Networks, Eaton, Cisco, NovaTech, LLC, and Honeywell International Inc.

  6. For Sample Report :- https://www.vynzresearch.com/semiconductor-electronics/substation-automation-and-integration-market/request-sample www.vynzresearch.com

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