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Substation Automation and Integration Market Trends

Report ID: GMI9400
Published Date: May 2024
Report Format: PDF

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Substation Automation and Integration Market Trends

The growing integration of renewable energy sources, such as solar and wind, requires advanced automation and integration in substations. These sources exhibit variable power generation patterns, challenging traditional grid stability. Advanced automation systems enable real-time monitoring and control, managing fluctuations in renewable energy output. Integration solutions facilitate seamless coordination between renewable generation, storage systems, and grid infrastructure, ensuring reliable and efficient power distribution despite the variability of renewable sources.

The increasing recognition of cybersecurity threats prompts substations to invest in specialized cybersecurity solutions to safeguard substation automation systems. By fortifying against cyberattacks, substations ensure operational integrity, prevent potential disruptions, and mitigate risks to public safety. This proactive approach addresses vulnerabilities, fostering resilience in the face of evolving cyber threats and ensuring the continuous & secure functioning of the power grid.

Authors: Suraj Gujar, Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

Market size for substation automation and integration crossed USD 40 billion in 2023 and is expected to register over 5% CAGR from 2024-2032 owing to the increasing demand for reliable power distribution infrastructure worldwide.

Substation automation and integration industry from the software segment is expected to register over 7% CAGR from 2024-2032 due to enabling operators to promptly detect and respond to issues in substations, ensuring uninterrupted power supply and enhancing operational efficiency.

North America industry held over 25% share in 2023 due to increasing investments in modernizing the aging power infrastructure, coupled with government initiatives promoting grid reliability and sustainability in the region.

ABB Limited, Alstom SA, Cisco Systems Inc., Eaton Corporation, General Electric Co, Schneider Electric SE, and Siemens AG, are some of the major substation automation and integration companies worldwide.