Global Substation Automation Market Is Expected to Reach Usd 139.34 Billion in 2020

Transparency Market Research

Substation Automation Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020

Published Date 22-July-2014

89 Page Report

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Global Substation Automation Market is Expected to Reach USD 139.34 Billion in 2020: Transparency Market Research

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Substation Automation Market

REPORT DESCRIPTION

According to a new market report published by Transparency Market Research "Substation Automation Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020," the market was valued at USD 96.52 billion in 2013, which is expected to reach USD 139.34 billion by 2020, growing at a CAGR of 5.4% from 2014 to 2020. Increasing number of smart grid improving grid eiciency and reliability and increasing need for reduction in transmission and distribution loss are the major forces driving the growth of substation automation market. Apart from this, demand for distributed intelligence is also fuelling the growth of substation automation market. There are large number of upcoming power utilities in order to meet the rising demand for electricity such as in 2014, irst smart grid infrastructure was developed in Dubai by Alstom S.A. and other utilities are also expected to come in the coming years. The increasing demand for electricity with rapid industrialization in the emerging economies of Asia Paciic is also boosting the growth of substation automation market. Communication channel segment accounted for the largest revenue share in 2013. Apart from this, it is also expected to be the fastest growing segment in the coming years growing at a CAGR of 13.1% from 2014 to 2020. In terms of module, intelligent electronic devices (IED) segment held the highest market share, in...