- Hardware
- Software
Substation Monitoring System Market size is valued at USD 3,343.9 million in 2022 and is expected to grow at a significant CAGR of 8.9% during the forecast period 2023 to 2029. 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.
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.
Substation Monitoring System Market Summary
Study Period
2024-2030
Base Year
2023
CAGR
8.9%
Largest Market
Asia-Pacific
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.
Substation Monitoring System Market
Asia Pacific Got Significant Share
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
Key Features of the Reports
- The Substation Monitoring System Market report provides granular level information about the market size, regional market share, historic market (2018-2022) and forecast (2023-2029)
- 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
Substation Monitoring System Market Segmentation
By Component Type
By Technology Type
- Wired
- Wireless
By Sector Type
- Transmission
- Distribution
By Industry
- Utility
- Oil & Gas
- Mining
- Steel
- Transportation
Frequently Asked Questions
The Substation Monitoring System Market is projected to expand at a CAGR of 8.9% during the forecast period.
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, 2018 - 2022 and Forecast, 2023 - 2029 |
| 4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (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, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn )Â |
| 5.1. Hardware |
| 5.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (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, 2018 - 2022 and Forecast, 2023 - 2029 (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, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn ) |
| 6.1. Wired |
| 6.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (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, 2018 - 2022 and Forecast, 2023 - 2029 (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, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn ) |
| 7.1. Transmission |
| 7.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (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, 2018 - 2022 and Forecast, 2023 - 2029 (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, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn ) |
| 8.1. Utility |
| 8.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (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, 2018 - 2022 and Forecast, 2023 - 2029 (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, 2018 - 2022 and Forecast, 2023 - 2029 (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, 2018 - 2022 and Forecast, 2023 - 2029 (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, 2018 - 2022 and Forecast, 2023 - 2029 (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, 2018 - 2022 and Forecast, 2023 - 2029Â (Revenue, USD Mn )Â |
| 9.1. North America |
| 9.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (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, 2018 - 2022 and Forecast, 2023 - 2029 (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, 2018 - 2022 and Forecast, 2023 - 2029 (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, 2018 - 2022 and Forecast, 2023 - 2029 (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, 2018 - 2022 and Forecast, 2023 - 2029 (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, 2023 - 2029 |
| 10. North America Global Substation Monitoring System Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn )Â |
| 10.1. Component Type Analysis 2018 - 2022 and Forecast 2023 - 2029 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 2018 - 2022 and Forecast 2023 - 2029 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 2018 - 2022 and Forecast 2023 - 2029 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 2018 - 2022 and Forecast 2023 - 2029 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 2018 - 2022 and Forecast 2023 - 2029 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 2023 - 2029 |
| 10.7. North America Global Substation Monitoring System Market Dynamics - Trends |
| 11. Europe Global Substation Monitoring System Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn )Â |
| 11.1. Component Type Analysis 2018 - 2022 and Forecast 2023 - 2029 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 2018 - 2022 and Forecast 2023 - 2029 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 2018 - 2022 and Forecast 2023 - 2029 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 2018 - 2022 and Forecast 2023 - 2029 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 2018 - 2022 and Forecast 2023 - 2029 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 2023 - 2029 |
| 11.7. Europe Global Substation Monitoring System Market Dynamics - Trends |
| 12. Asia-Pacific Global Substation Monitoring System Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 12.1. Component Type Analysis 2018 - 2022 and Forecast 2023 - 2029 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 2018 - 2022 and Forecast 2023 - 2029 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 2018 - 2022 and Forecast 2023 - 2029 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 2018 - 2022 and Forecast 2023 - 2029 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 2018 - 2022 and Forecast 2023 - 2029 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 2023 - 2029 |
| 12.7. Asia-Pacific Global Substation Monitoring System Market Dynamics - Trends |
| 13. Latin America Global Substation Monitoring System Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 13.1. Component Type Analysis 2018 - 2022 and Forecast 2023 - 2029 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 2018 - 2022 and Forecast 2023 - 2029 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 2018 - 2022 and Forecast 2023 - 2029 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 2018 - 2022 and Forecast 2023 - 2029 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 2018 - 2022 and Forecast 2023 - 2029 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 2023 - 2029 |
| 13.7. Latin America Global Substation Monitoring System Market Dynamics - Trends |
| 14. Middle East and Africa Global Substation Monitoring System Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 14.1. Component Type Analysis 2018 - 2022 and Forecast 2023 - 2029 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 2018 - 2022 and Forecast 2023 - 2029 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 2018 - 2022 and Forecast 2023 - 2029 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 2018 - 2022 and Forecast 2023 - 2029 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 2018 - 2022 and Forecast 2023 - 2029 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 2023 - 2029 |
| 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 |
- 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).