Substation Wide Area Monitoring Report 2020-2030 | Top Manufacturers, Types and Applications

Substation Wide Area Monitoring Market: Overview

A substation wide area monitoring system is used to continuously monitor the conditions of the transmission system with the use of data acquired through phasor measurement technology

Key Drivers and Restraints of Global Substation Wide Area Monitoring Market

Surge in investments in smart grid project is likely to drive the global substation wide area monitoring market during the forecast period. Substation wide area monitoring facilitates early detection of disturbances and degradation in the grid and helps prevent outages, by installing phasor measurement units (PMUs) at strategic locations on the grid.
Increase in investments in development of aging transmission and distribution infrastructure due to continuous increase in demand for electricity is also expected to propel the substation wide area monitoring market during the forecast period. For instance, as per the U.S. Energy Information Administration, utility distribution spending increased from US$ 31 billion in 1997 to US$ 51 billion in 2017, in the U.S.
Rise in investments in renewable power generation is anticipated to boost the global substation wide area monitoring market during the forecast period, as these systems utilize real-time synchro phasor data to measure the state of grid that enables improvement in stability and reliability of power grid
Technological innovations and advancements in the design of wide area monitoring systems to improve their operational efficiency are anticipated to propel the global substation wide area monitoring market during the forecast period

Are you a start-up willing to make it big in the business? Grab an exclusive PDF sample of Substation Wide Area Monitoring Market report

Industrial Segment to Hold a Major Share of Global Substation Wide Area Monitoring Market

The global substation market can be segmented based on type, application, and region
In terms of type, the global substation wide area monitoring market can be classified into phasor measurement units, phasor data concentrator, communication network, and PDC solutions. A phasor measurement unit (PMUs) is used in substation wide area monitoring to provide synchronized measurements.
In terms of application, the global substation wide area monitoring market can be classified into transmission substation, distribution substation, collector substation, converter substations, and switching station.

Recent Developments, Expansions, Acquisitions, and New Contracts to Boost Global Market

In 2018, GE Power Grid Solutions announced to provide Wide Area Monitoring System (WAMS) solution to Power Grid Corporation of India Ltd (PGCIL) for the northern grid in India

Key Players Operating in Global Substation Wide Area Monitoring Market

Leading companies operating in the global substation wide area monitoring market include: