DUBLIN, June 2, 2017 /PRNewswire/ --
Research and Markets has announced the addition of the "Global Substation Automation Market - Forecasts from 2017 to 2022" report to their offering.
Global substation automation market is projected to expand at a CAGR of 5.92% over the forecast period to reach a total market size of US$103.1 billion by 2022. The process of performing tasks by machines which were once performed by human beings in order to control various equipment in a factory or some industry or to do some work with minimum intervention of human beings is automation. The term automation was coined in the decade of 1940 and can be used in many applications such as manufacturing, services among others.
Automation can also be used in power applications. Earlier, power plants have many sensor and action variables, hence automation finds its extensive use in this area and its application streamlined the process in transmission and distribution. The substation is a key component in electricity generation and its transmission as it is used to transform voltage from high to low or low to high and performs other important functions too.
Substations are automated so that it can have an intelligent and interactive power distribution network and substation automation is also considered as cutting edge technology in electrical engineering. These systems provide enhanced performance and reliability in electrical protection, improves safety and integrity of electrical power network, exhibit real-time information in a control center and are capable of performing advanced automation functions.
Substation automation is increasingly becoming an area of interest as it provides benefits. It is a wider concept than traditional SCADA (supervisory control and data acquisition) and can aid improving operations and maintenance and efficiencies as well as leverage and defer major capital investments. Geographically, North America would drive the market for substation automation across the globe due to rising need in outrage time improving the transmission efficiency and various research activities carried out in this field by the researchers. The need of effectiveness in electricity generation as well as lowering of transmission and distribution loss along with initiatives undertaken by the government for this sector will impact the global growth of this market in Asia Pacific region.
- Crompton Greaves
- General Electric
- Siemens AG
- Toshiba Corporation
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Dynamics
5. Global Substation Automation Market Forecast by Module (US$ billion)
6. Global Substation Automation Market Forecast by Offering (US$ billion)
7. Global Substation Automation Market Forecast by Industry (US$ billion)
8. Global Substation Automation Market Forecast by Geography (US$ billion)
9. Competitive Intelligence
10. Company Profiles
For more information about this report visit http://www.researchandmarkets.com/research/8mtpql/global_substation
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SOURCE Research and Markets