Smart grid infrastructures have metamorphosed the industry of electric power industry fundamentally in a number of developing and developed nations. They have an influential role to play in power substation automation and integration market and have witnessed increased adoption by the electric sector. They basically comprise modern system software infrastructure and advanced control methods. Out of numerous elements of smart grid, main elements are intelligent electronic devices (IED) and smart sensing & metering technologies. They have substantially assisted in the automation of power substations. These intelligent electronic devices come with microprocessors. These microprocessors can perform some essential primary control service, assist in the exchange of operational and non-operational data, and give outputs and inputs to the smart grid system.
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Power substation automation and integration facilities are utilized to better control, automation, and command within substations. The technology is primarily utilized in electrical distribution systems. Intelligent electronic gadgets that generate data are the most widely used devices in substation automation.
The power substation automation and integration market is gaining momentum from the rising implementation of smart grid infrastructures. They are also rapidly replacing the existing infrastructure of the power systems. The growing need for the former is ascribed to the multifunctional solutions that they offer, which mostly comply with the latest communication protocols. Besides, the market is anticipated to garner momentum from the growing need for enhancing the grid reliability and efficiency.
However, despite experiencing growth, high initial investments needed to deploy power substation automation and strict regulations could impede the growth of power substation automation and integration facilities market.
Geographically, North America secured a dominant position in the global power substation automation and integration market. Asia Pacific is likely to register high CAGR over the forecast timeframe. Owing to the substantially high penetration of industries, the need for power substation automation and integration will continue to stay high in North America.
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Some of the leading vendors in the global power substation automation and integration facilities market are Cooper Power Systems Inc., General Electric Co., Schweitzer Engineering Lab Inc., NovaTech LLC, Alstom S.A., and ABB Ltd.