Substation Wide Area Monitoring System Market by Solution and Geography - Forecast and Analysis 2021-2025

The substation wide area monitoring system market has the potential to grow by USD 338.88 million during 2021-2025, and the market's growth momentum will decelerate at a CAGR of 22.04%.

This substation wide area monitoring system market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by solution (communication network, services, and hardware and software) and geography (North America, APAC, Europe, South America, and MEA). The substation wide area monitoring system market report also offers information on several market vendors, including ABB Ltd., Electric Power Group LLC, General Electric Co., KEPCO KDN, NR Electric Co. Ltd., Schneider Electric SE, Schweitzer Engineering Laboratories Inc., Siemens AG, Studio Elektronike d.o.o. Rijeka, and Vizimax Inc. among others.

What will the Substation Wide Area Monitoring System Market Size be in 2021?

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Substation Wide Area Monitoring System Market: Key Drivers and Trends

The rising investments in smart grid projects is notably driving the substation wide area monitoring system market growth, although factors such as interoperability issues may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the substation wide area monitoring system industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

The rise in investments in smart grid projects will be the primary factor driving the substation wide area monitoring system market growth during the forecast period. Smart grid projects with the implementation of the wide area monitoring technology have created a positive impact on utility consumers in terms of uninterrupted power. Smart grids offer advantages such as peak load and outage management, fewer transformer failures, and reduction and instant recovery of unexpected power failures.

The substation upgrading projects in the US will be one of the critical substation wide area monitoring system market trends in the forthcoming years. The US, being the leading end-user, will continue to boost the market growth, with a key portion of demand coming from reconstruction or upgrading plans for the aging substation infrastructure. The upgrading of transmission grids and substations during the forecast period is expected to create a substantial possibility for the introduction of wide area monitoring systems.

This substation wide area monitoring system market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Substation Wide Area Monitoring System Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• ABB Ltd.
• Electric Power Group LLC
• General Electric Co.
• KEPCO KDN
• NR Electric Co. Ltd.
• Schneider Electric SE
• Schweitzer Engineering Laboratories Inc.
• Siemens AG
• Studio Elektronike d.o.o. Rijeka
• Vizimax Inc.

 

This statistical study of the substation wide area monitoring system market encompasses successful business strategies deployed by the key vendors. The substation wide area monitoring system market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The substation wide area monitoring system market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Substation Wide Area Monitoring System Market?

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41% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for substation wide area monitoring systems in APAC. Market growth in APAC will be faster than the growth of the market in other regions.

This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Solution Segments in the Substation Wide Area Monitoring System Market?

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The substation wide area monitoring system market share growth by the communication network segment will be significant during the forecast period. The communication network market segment involves optical cables, routers, switches, and other electronic devices. The communication network is a key segment that covers nearly 50% of the project cost for global wide area monitoring systems in substations. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the substation wide area monitoring system market size and actionable market insights on post COVID-19 impact on each segment.

 

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What are the Key Factors Covered in this Substation Wide Area Monitoring System Market Report?

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will drive substation wide area monitoring system market growth during the next five years
• Precise estimation of the substation wide area monitoring system market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the substation wide area monitoring system industry across North America, APAC, Europe, South America, and MEA
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of substation wide area monitoring system market vendors

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Substation Wide Area Monitoring System Market Scope
Report Coverage	Details
Page number	120
Base year	2020
Forecast period	2021-2025
Growth momentum & CAGR	Decelerate at a CAGR of 22.04%
Market growth 2021-2025	$ 338.88 million
Market structure	Fragmented
YoY growth (%)	34.14
Regional analysis	North America, APAC, Europe, South America, and MEA
Performing market contribution	APAC at 41%
Key consumer countries	US, China, Japan, UK, and Germany
Competitive landscape	Leading companies, competitive strategies, consumer engagement scope
Companies profiled	ABB Ltd., Electric Power Group LLC, General Electric Co., KEPCO KDN, NR Electric Co. Ltd., Schneider Electric SE, Schweitzer Engineering Laboratories Inc., Siemens AG, Studio Elektronike d.o.o. Rijeka, and Vizimax Inc.
Market Dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.