With the growing integration of advanced technology, there is a significant growth seen in the global substation automation and integration market. Substation automation uses data from intelligence electronic devices (IEDs) that helps in automating and controlling capabilities within the substation. It also provides control commands for monitoring power-system devices by remote users. As there is a high need for protection, monitoring, and automation of application, the application of substation automation and integration is growing in the electric power industry.
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Moreover, there is need to rework on the aged old grid infrastructure this will give a potential boost in the global substation automation and integration market. Significant rise in consumption of electricity and high dependency on electronic devices has surged the need for smart use of electrical system capabilities. In addition, manufacturers are installing neoteric substation model to overcome the challenges faced in the substation automation and integration market.
Wide Scale Application of Substation Automation and Integration to Fuel Market Growth
Transportation, mining, utility, oil and gas, and steel industries have largely deployed substation automation and integration solutions. As these industries, face few obstacles in demand and supply of energy, introduction of this technology helps in meeting that gap. In fact, the utility sector is expected to rise account for prominent share in the global substation automation and integration market. High demand for substation automation and integration in this industry is mainly because it helps in transmitting, generating, and distributing power. Moreover, installation of multiple smart grids and modernization of these grids has boosted demand for substation automation and integration solutions.
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Its application is also rising other industries as well, as it helps in reducing distribution and transmission loss of energy. It also improves the reliability and grid efficiency that encourages players to install substation automation and integration solution. Moreover, further advancements taking place in this technology is likely to flourish the global substation automation and integration market in the near future.