SAN FRANCISCO, Nov. 17, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Power System State Estimators - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 9; Released: November 2021
Executive Pool: 15701
Companies: 30 - Players covered include ABB Group; Alstom SA; CYME International T&D Inc.; DIgSILENT GmbH; Energy Computer Systems (Spard); Epfl (Simsen); ETAP - Operation Technology, Inc.; GDF Suez - Tractebel Engineering S.A.; General Electric Company; KEPCO Inc.; NEPLAN AG; Nexant, Inc.; Open Systems International, Inc.; Power Research & Development Consultants Pvt. Ltd.; PowerWorld Corporation; Siemens AG; Siemens Power Technologies International; SKM Systems Analysis Inc.; Tom (Pasha) (Power Apparatus & System Homological Analysis) and Others.
Coverage: All major geographies and key segments
Segments: Software (Power Control Centers, Utility State Estimator); Solution (Weighted Lease Square (WLS), Least Absolute Value (LAV), Other Solutions); Application (Transmission Network, Distribution Network)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
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Global Power System State Estimators Market to Reach US$858.2 Million by the Year 2026
Power system state estimators help monitor, supervise and control the distribution and transmission networks. They make use of certain redundant measurements obtained from the power systems to identify the true state of the system. Although they are currently not deployed on a large-scale, they hold potential to deliver real-time protection and control of power systems in the future. Growth in the global market is led by factors including the emergence and increasing adoption of smart grids, the fast expanding and increasingly complex distribution and transmission networks and regulations supporting the use of energy-efficient systems. Power system state estimation appears poised to garner more attention with continuous shift from passive towards active distribution networks. The transition points towards the requirement of effective solutions to monitor and control electrical distribution systems in real-time and push operating performance of these systems.
Amid the COVID-19 crisis, the global market for Power System State Estimators estimated at US$559.4 Million in the year 2020, is projected to reach a revised size of US$858.2 Million by 2026, growing at a CAGR of 7.6% over the analysis period. Power Control Centers, one of the segments analyzed in the report, is projected to grow at a 6.9% CAGR to reach US$580.1 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Utility State Estimator segment is readjusted to a revised 8.8% CAGR for the next 7-year period. This segment currently accounts for a 35.2% share of the global Power System State Estimators market.
The U.S. Market is Estimated at $128.8 Million in 2021, While China is Forecast to Reach $156.2 Million by 2026
The Power System State Estimators market in the U.S. is estimated at US$128.8 Million in the year 2021. The country currently accounts for a 22.13% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$156.2 Million in the year 2026 trailing a CAGR of 9.5% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.4% and 6.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 7% CAGR while Rest of European market (as defined in the study) will reach US$173.2 Million by the end of the analysis period. More
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