How big is the substation monitoring system market?

The substation monitoring system market size was valued at USD 3,343.9 million in 2023 and is expected to grow at a significant CAGR of 8.9% during the forecast period 2024 to 2030.

Substation Monitoring System Market Size, Share, Growth, Trends, and Global Industry Analysis: By Component Type (Hardware, Software), By Communication Technology Type (Wired, Wireless), By Sector Type (Transmission, Distribution), By Industry (Utility, Oil & Gas, Mining, Steel, Transportation) and Region

Substation Monitoring System Market size was valued at US$ 3,343.9 million in 2023 and is poised to grow at a significant CAGR of 8.9% from 2024 to 2030. The global market provides a detailed overview of the Substation Monitoring System market and that can be segmented by component type, by communication technology type, by sector type. By component type, the substation monitoring system market has been segmented into Hardware, Software. The hardware segment is likely to be the largest and fastest-growing segment in terms of type. Based on communication technology type the Substation Monitoring System market is segmented as wired, wireless.

Among these, the wireless segment is expected to have the fastest-growing market during the forecast period 2023-2029. Based on sector type, the substation monitoring system market is segmented into Transmission, Distribution. The transmission segment accounts for the largest share in 2021. Based on the industry, the market has been segregated into Utility, Oil & Gas, Mining, Steel, and Transportation. The Oil & Gas segment is expected to dominate other segments in the substation monitoring system market. The Oil & Gas segment is expected to witness the highest CAGR during the forecast period according to Precision Business Insights.

Substation Monitoring System Market Key Development:

In August 2021, Hitachi ABB Power Grids Ltd. (India) announced the development of a TXpert remote services portfolio for remote monitoring of transformer fleets, consulting, troubleshooting, and guidance using augmented reality. Hitachi ABB Power Grids supports in analyzing large amounts of data and creating comprehensive reports required for optimal maintenance.

Download Free Sample

Substation Monitoring System Market Summary

Study Period

2024-2030

Base Year

2023

CAGR

8.9%

Largest Market

North America

Fastest Growing Market

Asia-Pacific

Substation Monitoring System Market Dynamics

The main factors driving the substation monitoring system market is the increasing demand for reduced distribution and transmission losses in developing countries such as India is propelling the substation monitoring system market. Aging infrastructure, need for increasing the government support for optimum electricity utilization, continuously improving IoT-based communication network and development of the IEC 61850 standard to allow interoperability between IEDs are also driving the market.

Asia Pacific Got Significant Share

Substation Monitoring System Market

By region, the Asia Pacific market is expected to witness the highest market share during the forecast period due to the growing need to reduce transmission and distribution losses in emerging economies such as China, India, and South Korea, the substation monitoring system market in these countries is predicted to grow at the fastest CAGR.

Latin America

Europe

Asia Pacific

Middle East

North America

Substation Monitoring System Market Segmentation Analysis

Report Benchmarks	Details
Report Study Period	2024-2030
Market Size in 2023	US$ 3,343.9 million
Market CAGR	8.9%
By Component Type	Hardware Software
By Technology Type	Wired Wireless
By Sector Type	Transmission Distribution
By Industry	Utility Oil & Gas Mining Steel Transportation

Key Features of the Report

The Substation Monitoring System Market report provides granular level information about the market size, regional market share, historic market (2019-2023) and forecast (2024-2030)
The report covers in-detail insights about the competitor's overview, company share analysis, key market developments, and their key strategies
The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
The report tracks recent innovations, key developments, and start-up details that are actively working in the market
The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario

Download Free Sample Report

I accept the Terms and Conditions,Disclaimers, GDPR Policy

Frequently Asked Questions

The substation monitoring system market size was valued at US$ 3,343.9 million in 2023 and is expected to grow at a significant CAGR of 8.9% during the forecast period 2024 to 2030.

The major players in the global Substation Monitoring System market are ABB (Switzerland), Honeywell (US), Siemens (Germany), Schneider Electric (France), Emerson Electric (US), General Electric (US), Eaton (Ireland), Schweitzer Engineering Laboratories (US), NovaTech (UK), Crompton Greaves (India).

Asia Pacific is the fastest-growing region for Substation Monitoring System Market

1. Executive Summary

2. Global Substation Monitoring System Market Introduction

2.1. Global Substation Monitoring System Market - Taxonomy

2.2. Global Substation Monitoring System Market - Definitions

2.2.1. By Component Type

2.2.2. By Communication Technology Type

2.2.3. By Sector Type

2.2.4. By Industry

2.2.5. By Region

3. Global Substation Monitoring System Market Dynamics

3.1. Drivers

3.2. Restraints

3.3. Opportunities/Unmet Needs of the Market

3.4. Trends

3.5. Global Substation Monitoring System Market Dynamic Factors - Impact Analysis

3.6. Global Substation Monitoring System Market - Competition Landscape

4. Global Substation Monitoring System Market Analysis, 2019-2023 and Forecast, 2024-2030

4.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn )

4.2. Year-over-Year (Y-o-Y) Growth Analysis (%)

4.3. Market Opportunity Analysis

5. Global Substation Monitoring System Market, By Component Type, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn )

5.1. Hardware

5.1.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn )

5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)

5.1.3. Market Opportunity Analysis

5.2. Software

5.2.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn )

5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)

5.2.3. Market Opportunity Analysis

6. Global Substation Monitoring System Market, By Communication Technology Type, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn )

6.1. Wired

6.1.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn )

6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)

6.1.3. Market Opportunity Analysis

6.2. Wireless

6.2.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn )

6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)

6.2.3. Market Opportunity Analysis

7. Global Substation Monitoring System Market, By Sector, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn )

7.1. Transmission

7.1.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn )

7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)

7.1.3. Market Opportunity Analysis

7.2. Distribution

7.2.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn )

7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)

7.2.3. Market Opportunity Analysis

8. Global Substation Monitoring System Market, By Industry, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn )

8.1. Utility

8.1.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn )

8.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)

8.1.3. Market Opportunity Analysis

8.2. Oil & Gas

8.2.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn )

8.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)

8.2.3. Market Opportunity Analysis

8.3. Mining

8.3.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn )

8.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)

8.3.3. Market Opportunity Analysis

8.4. Steel

8.4.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn )

8.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)

8.4.3. Market Opportunity Analysis

8.5. Transportation

8.5.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn )

8.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)

8.5.3. Market Opportunity Analysis

9. Global Substation Monitoring System Market Forecast, By Region, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn )

9.1. North America

9.1.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn )

9.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)

9.1.3. Market Opportunity Analysis

9.2. Latin America

9.2.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn )

9.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)

9.2.3. Market Opportunity Analysis

9.3. Europe

9.3.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn )

9.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)

9.3.3. Market Opportunity Analysis

9.4. Asia-Pacific

9.4.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn )

9.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)

9.4.3. Market Opportunity Analysis

9.5. Middle East and Africa

9.5.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn )

9.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)

9.5.3. Market Opportunity Analysis

9.6. Global Substation Monitoring System Market - Opportunity Analysis Index, By Component Type, By Communication Technology Type, By Sector, By Vertical and Region, 2024-2030

10. North America Global Substation Monitoring System Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn )

10.1. Component Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)

10.1.1. Hardware

10.1.2. Software

10.2. By Communication Technology Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)

10.2.1. Wired

10.2.2. Wireless

10.3. By Sector Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)

10.3.1. Transmission

10.3.2. Distribution

10.4. By Industry Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)

10.4.1. Utility

10.4.2. Oil & Gas

10.4.3. Mining

10.4.4. Steel

10.4.5. Transportation

10.5. By Country Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)

10.5.1. United States

10.5.2. Canada

10.6. North America Global Substation Monitoring System Market - Opportunity Analysis Index, By Component Type, By Communication Technology Type, By Sector, By Vertical and By Country 2024-2030

10.7. North America Global Substation Monitoring System Market Dynamics - Trends

11. Europe Global Substation Monitoring System Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn )

11.1. Component Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)

11.1.1. Hardware

11.1.2. Software

11.2. By Communication Technology Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)

11.2.1. Wired

11.2.2. Wireless

11.3. By Sector Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)

11.3.1. Transmission

11.3.2. Distribution

11.4. By Industry Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)

11.4.1. Utility

11.4.2. Oil & Gas

11.4.3. Mining

11.4.4. Steel

11.4.5. Transportation

11.5. By Country Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)

11.5.1. Germany

11.5.2. United Kingdom

11.5.3. Spain

11.5.4. Italy

11.5.5. France

11.5.6. Russia

11.5.7. Norway

11.5.8. Rest of Europe

11.6. Europe Global Substation Monitoring System Market - Opportunity Analysis Index, By Component Type, By Communication Technology Type, By Sector, By Vertical and By Country 2024-2030

11.7. Europe Global Substation Monitoring System Market Dynamics - Trends

12. Asia-Pacific Global Substation Monitoring System Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn)

12.1. Component Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)

12.1.1. Hardware

12.1.2. Software

12.2. By Communication Technology Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)

12.2.1. Wired

12.2.2. Wireless

12.3. By Sector Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)

12.3.1. Transmission

12.3.2. Distribution

12.4. By Industry Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)

12.4.1. Utility

12.4.2. Oil & Gas

12.4.3. Mining

12.4.4. Steel

12.4.5. Transportation

12.5. By Country Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)

12.5.1. China

12.5.2. India

12.5.3. Japan

12.5.4. South Korea

12.5.5. Australia & New Zealand

12.5.6. Rest of Asia-Pacific

12.6. Asia-Pacific Global Substation Monitoring System Market - Opportunity Analysis Index, By Component Type, By Communication Technology Type, By Sector, By Vertical and By Country 2024-2030

12.7. Asia-Pacific Global Substation Monitoring System Market Dynamics - Trends

13. Latin America Global Substation Monitoring System Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn)

13.1. Component Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)

13.1.1. Hardware

13.1.2. Software

13.2. By Communication Technology Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)

13.2.1. Wired

13.2.2. Wireless

13.3. By Sector Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)

13.3.1. Transmission

13.3.2. Distribution

13.4. By Industry Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)

13.4.1. Utility

13.4.2. Oil & Gas

13.4.3. Mining

13.4.4. Steel

13.4.5. Transportation

13.5. By Country Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)

13.5.1. Brazil

13.5.2. Mexico

13.5.3. Argentina

13.5.4. Rest of Latin America

13.6. Latin America Global Substation Monitoring System Market - Opportunity Analysis Index, By Component Type, By Communication Technology Type, By Sector, By Vertical and By Country 2024-2030

13.7. Latin America Global Substation Monitoring System Market Dynamics - Trends

14. Middle East and Africa Global Substation Monitoring System Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn)

14.1. Component Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)

14.1.1. Hardware

14.1.2. Software

14.2. By Communication Technology Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)

14.2.1. Wired

14.2.2. Wireless

14.3. By Sector Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)

14.3.1. Transmission

14.3.2. Distribution

14.4. By Industry Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)

14.4.1. Utility

14.4.2. Oil & Gas

14.4.3. Mining

14.4.4. Steel

14.4.5. Transportation

14.5. By Country Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)

14.5.1. Middle East

14.5.2. South Africa

14.5.3. Israel

14.5.4. Argentina

14.5.5. Rest of Latin America

14.6. Middle East and Africa Substation Monitoring System Market - Opportunity Analysis Index, By Component Type, By Communication Technology Type, By Sector, By Vertical and By Country 2024-2030

14.7. Middle East and Africa Substation Monitoring System Market Dynamics - Trends

15. Competition Landscape

15.1. Strategic Dashboard of Top Market Players

15.2. Company Profiles (Introduction, Financial Analysis, Component & Service Offerings, Key Developments, Strategies, and SWOT Analysis)

15.2.1. ABB (Switzerland)

15.2.2. Honeywell (US)

15.2.3. Siemens (Germany)

15.2.4. Schneider Electric (France)

15.2.5. Emerson Electric (US)

15.2.6. General Electric (US)

15.2.7. Eaton (Ireland)

15.2.8. Schweitzer Engineering Laboratories (US)

15.2.9. NovaTech (UK)

15.2.10. Crompton Greaves (India).

16. Research Methodology

17. Key Assumptions and Acronyms

Key Market Players

ABB (Switzerland)
Honeywell (US)
Siemens (Germany)
Schneider Electric (France)
Emerson Electric (US)
General Electric (US)
Eaton (Ireland)
Schweitzer Engineering Laboratories (US)
NovaTech (UK)
Crompton Greaves (India).