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(Hosting-NewsWire.com, September 30, 2018 ) According to Verified Market Intelligence, The Global Substation Monitoring System Market was valued at USD 3.25 billion in 2016 and is projected to reach USD 6.46 billion by 2025, growing at a CAGR of 7.93% from 2017 to 2025.
Substation monitoring system is an advanced power distribution network that provides control, monitoring, automation, protection and communication of all the equipment in the substation remotely as well as locally. It is the key component of the power grid that facilitates the efficient distribution and transmission of electricity. It uses data from intelligent electronic devices (IED) for supervising and controlling various protection and automation functions. Thus, these factors contribute to the growth of the substation monitoring system.
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Growing demand for renewable energy power, rising need for reduction in transmission and distribution losses, increasing investments from the government and improved IoT-based communication network has been driving the global substation monitoring system market. While growing power risk in the power industry, high installation costs of IEDs in a substation and wireless sensor networks and harsh environmental conditions might hinder the overall growth at a global level.
The “Global Substation Monitoring System Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such as ABB, Siemens, Cadillac Automation and Controls, Cisco, Schneider Electric, Emerson Electric, Honeywell, General Electric, Eaton, Schweitzer Engineering Laboratories, Crompton Greaves, Novatech, Schweitzer Engineering Laboratories, and Sentient Energy. Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis.
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Source: EmailWire.Com
Source: EmailWire.com
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