Electric substation automation market forecast to reach $4.3bn by 2020, driven by smart grid integration

Electric substation automation market forecast to reach $4.3bn by 2020, driven by smart grid integration

Boulder, Colorado, USA. August 7, 2012 — The integration of substation automation functions into the broader smart grid architecture is shifting the substation automation opportunity toward newly automated smaller distribution substations, and into retrofit modernisations of previously automated transmission substations.

According to a new report from Pike Research, a part of Navigant’s Energy Practice, this trend will drive steady growth in the global market for substation automation, which will grow from $2.7 billion in 2012 to $4.3 billion in 2020.

Substation automation equipment, including communications, protective relays, supervisory control and data acquisition (SCADA) devices, and related sensors, has been a significant and mature market for at least a decade.

“Even as individual equipment costs and per-substation spending are declining due to technology advances and a shift to retrofits, we expect that the overall market will continue to grow,” says chief research director, Bob Gohn. “The smart grid trends driving automation deeper into the distribution network, combined with continued growth in Asia, will sustain steady growth in the overall substation automation sector.”

Today, new transmission substations make up the largest segment of global substation automation revenue. According to the report, this segment is expected to peak in 2013 and 2014 and to slowly decline through 2020, yielding an effective compound annual growth rate (CAGR) of 0% for the period from 2011 to 2020. Retrofits of existing transmission substations, and automation of distribution substations, meanwhile, are forecast to grow at 7.1% and 7.0% CAGRs respectively over the same period. By 2020, newly automated distribution substations will make up the largest application segment for substation automation equipment.

The report, Substation Automation, reviews the history, drivers, key technologies, evolving standards, and leading vendors associated with substation automation technologies. The size and growth of the global substation automation equipment market is forecast through 2020 and segmented by automation device categories (SCADA, protective relays, sensors, communications), by transmission and distribution substations, by new versus retrofit installations, and by major world regions.

An Executive Summary of the report is available for free download on the Pike Research website at: http://www.pikeresearch.com/research/substation-automation

FEATURED IoT STORIES

9 IoT applications that will change everything

Posted on: September 1, 2021

Whether you are a future-minded CEO, tech-driven CEO or IT leader, you’ve come across the term IoT before. It’s often used alongside superlatives regarding how it will revolutionize the way you work, play, and live. But is it just another buzzword, or is it the as-promised technological holy grail? The truth is that Internet of

Read more

Which IoT Platform 2021? IoT Now Enterprise Buyers’ Guide

Posted on: August 30, 2021

There are several different parts in a complete IoT solution, all of which must work together to get the result needed, write IoT Now Enterprise Buyers’ Guide – Which IoT Platform 2021? authors Robin Duke-Woolley, the CEO and Bill Ingle, a senior analyst, at Beecham Research. Figure 1 shows these parts and, although not all

Read more

CAT-M1 vs NB-IoT – examining the real differences

Posted on: June 21, 2021

As industry players look to provide the next generation of IoT connectivity, two different standards have emerged under release 13 of 3GPP – CAT-M1 and NB-IoT.

Read more

IoT and home automation: What does the future hold?

Posted on: June 10, 2020

Once a dream, iot home automation is slowly but steadily becoming a part of daily lives around the world. In fact, it is believed that the global market for smart home automation will reach $40 billion by 2020.

Read more
RECENT ARTICLES

Infineon and Rainforest Connection create real-time monitoring system to detect wildfires

Posted on: October 22, 2021

Munich and San Jose, California, 21 October, 2021 – Infineon Technologies AG a provider of semiconductors for mobility, energy efficiency and the IoT, announced a collaboration with Rainforest Connection (RFCx), a non-profit organisation that uses acoustic technology, Big Data and Artificial Intelligence / Machine Learning to save the rainforests and monitor biodiversity.

Read more

Infineon simplifies secure IoT device-to-cloud authentication with CIRRENT Cloud ID service

Posted on: October 21, 2021

Munich, Germany. 21 October 2021 – Infineon Technologies AG launched CIRRENT Cloud ID, a service that automates cloud certificate provisioning and IoT device-to-cloud authentication. The easy-to-use service extends the chain of trust and makes tasks easier and more secure from chip-to-cloud, while lowering companies’ total cost of ownership. Cloud ID is ideal for cloud-connected product companies

Read more