Substation Monitoring System Market: By Component Type, By Communication Technology Type, By Sector Type, By Industry and Region Forecast 2020-2031
Substation Monitoring System Market: By Component Type, By Communication Technology Type, By Sector Type, By Industry and Region Forecast 2020-2031
Substation Monitoring System Market size was valued at US$ 6.9 billion in 2024 and is expected to reach US$ 11.6 billion by 2031, growing at a significant CAGR of 7.7% from 2025-2031. The global market provides a detailed overview of the market and that can be segmented by component type, by communication technology type, by sector type. By component type, the market has been segmented into Hardware, Software. The hardware segment is likely to be the largest and fastest-growing segment in terms of type. Based on communication technology type the market is segmented as wired, wireless.
Among these, the wireless segment is expected to have the fastest-growing market during the forecast period 2023-2029. Based on sector type, the market is segmented into Transmission, Distribution. The transmission segment accounts for the largest share in 2021. Based on the industry, the market has been segregated into Utility, Oil & Gas, Mining, Steel, and Transportation. The Oil & Gas segment is expected to dominate other segments in the market. The Oil & Gas segment is expected to witness the highest CAGR during the forecast period according to Precision Business Insights.
Study Period
2025-2031Base Year
2024CAGR
7.7%Largest Market
North-AmericaFastest Growing Market
Asia-Pacific
The main factors driving the market is the increasing demand for reduced distribution and transmission losses in developing countries such as India is propelling the market. Aging infrastructure, need for increasing the government support for optimum electricity utilization, continuously improving IoT-based communication network and development of the IEC 61850 standard to allow interoperability between IEDs are also driving the market.
By region, the Asia Pacific market is expected to witness the highest market share during the forecast period due to the growing need to reduce transmission and distribution losses in emerging economies such as China, India, and South Korea, the market in these countries is predicted to grow at the fastest CAGR.
Latin America
Europe
Asia Pacific
Middle East
North America
|
Report Benchmarks |
Details |
|
Report Study Period |
2025-2031 |
|
Market Size in 2024 |
US$ 6.9 billion |
|
Market Size in 2031 |
US$ 11.6 billion |
|
Market CAGR |
7.7% |
|
By Component Type |
|
|
By Technology Type |
|
|
By Sector Type |
|
|
By Industry |
|
|
By Region |
|
Download Free Sample Report
Substation monitoring system market size was valued at US$ 6.9 billion in 2024 and is expected to reach US$ 11.6 billion by 2031, growing at a significant CAGR of 7.7%.
The major players in the market are ABB (Switzerland), Honeywell (US), Siemens (Germany), Schneider Electric (France), Emerson Electric (US), General Electric (US), Eaton (Ireland), Schweitzer Engineering Laboratories (US), NovaTech (UK), Crompton Greaves (India).
Asia Pacific is the fastest-growing region for the market.
| 1. Executive Summary |
| 2. Global Substation Monitoring System Market Introduction |
| 2.1. Global Substation Monitoring System Market - Taxonomy |
| 2.2. Global Substation Monitoring System Market - Definitions |
| 2.2.1. By Component Type |
| 2.2.2. By Communication Technology Type |
| 2.2.3. By Sector Type |
| 2.2.4. By Industry |
| 2.2.5. By Region |
| 3. Global Substation Monitoring System Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Global Substation Monitoring System Market Dynamic Factors - Impact Analysis |
| 3.6. Global Substation Monitoring System Market - Competition Landscape |
| 4. Global Substation Monitoring System Market Analysis, 2020-2024 and Forecast 2025-2031 |
| 4.1. Market Analysis, 2020-2024 and Forecast 2025-2031 (Revenue, USD Mn ) |
| 4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5. Global Substation Monitoring System Market, By Component Type, 2020-2024 and Forecast 2025-2031 (Revenue, USD Mn ) |
| 5.1. Hardware |
| 5.1.1. Market Analysis, 2020-2024 and Forecast 2025-2031 (Revenue, USD Mn ) |
| 5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Software |
| 5.2.1. Market Analysis, 2020-2024 and Forecast 2025-2031 (Revenue, USD Mn ) |
| 5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 6. Global Substation Monitoring System Market, By Communication Technology Type, 2020-2024 and Forecast 2025-2031 (Revenue, USD Mn ) |
| 6.1. Wired |
| 6.1.1. Market Analysis, 2020-2024 and Forecast 2025-2031 (Revenue, USD Mn ) |
| 6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Wireless |
| 6.2.1. Market Analysis, 2020-2024 and Forecast 2025-2031 (Revenue, USD Mn ) |
| 6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 7. Global Substation Monitoring System Market, By Sector, 2020-2024 and Forecast 2025-2031 (Revenue, USD Mn ) |
| 7.1. Transmission |
| 7.1.1. Market Analysis, 2020-2024 and Forecast 2025-2031 (Revenue, USD Mn ) |
| 7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Distribution |
| 7.2.1. Market Analysis, 2020-2024 and Forecast 2025-2031 (Revenue, USD Mn ) |
| 7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 8. Global Substation Monitoring System Market, By Industry, 2020-2024 and Forecast 2025-2031 (Revenue, USD Mn ) |
| 8.1. Utility |
| 8.1.1. Market Analysis, 2020-2024 and Forecast 2025-2031 (Revenue, USD Mn ) |
| 8.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.1.3. Market Opportunity Analysis |
| 8.2. Oil & Gas |
| 8.2.1. Market Analysis, 2020-2024 and Forecast 2025-2031 (Revenue, USD Mn ) |
| 8.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.2.3. Market Opportunity Analysis |
| 8.3. Mining |
| 8.3.1. Market Analysis, 2020-2024 and Forecast 2025-2031 (Revenue, USD Mn ) |
| 8.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.3.3. Market Opportunity Analysis |
| 8.4. Steel |
| 8.4.1. Market Analysis, 2020-2024 and Forecast 2025-2031 (Revenue, USD Mn ) |
| 8.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.4.3. Market Opportunity Analysis |
| 8.5. Transportation |
| 8.5.1. Market Analysis, 2020-2024 and Forecast 2025-2031 (Revenue, USD Mn ) |
| 8.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.5.3. Market Opportunity Analysis |
| 9. Global Substation Monitoring System Market Forecast, By Region, 2020-2024 and Forecast 2025-2031 (Revenue, USD Mn ) |
| 9.1. North America |
| 9.1.1. Market Analysis, 2020-2024 and Forecast 2025-2031 (Revenue, USD Mn ) |
| 9.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.1.3. Market Opportunity Analysis |
| 9.2. Latin America |
| 9.2.1. Market Analysis, 2020-2024 and Forecast 2025-2031 (Revenue, USD Mn ) |
| 9.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.2.3. Market Opportunity Analysis |
| 9.3. Europe |
| 9.3.1. Market Analysis, 2020-2024 and Forecast 2025-2031 (Revenue, USD Mn ) |
| 9.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.3.3. Market Opportunity Analysis |
| 9.4. Asia-Pacific |
| 9.4.1. Market Analysis, 2020-2024 and Forecast 2025-2031 (Revenue, USD Mn ) |
| 9.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.4.3. Market Opportunity Analysis |
| 9.5. Middle East and Africa |
| 9.5.1. Market Analysis, 2020-2024 and Forecast 2025-2031 (Revenue, USD Mn ) |
| 9.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.5.3. Market Opportunity Analysis |
| 9.6. Global Substation Monitoring System Market - Opportunity Analysis Index, By Component Type, By Communication Technology Type, By Sector, By Vertical and Region, 2024-2030 |
| 10. North America Global Substation Monitoring System Market Analysis, 2020-2024 and Forecast 2025-2031 (Revenue, USD Mn ) |
| 10.1. Component Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1. Hardware |
| 10.1.2. Software |
| 10.2. By Communication Technology Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1. Wired |
| 10.2.2. Wireless |
| 10.3. By Sector Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1. Transmission |
| 10.3.2. Distribution |
| 10.4. By Industry Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 10.4.1. Utility |
| 10.4.2. Oil & Gas |
| 10.4.3. Mining |
| 10.4.4. Steel |
| 10.4.5. Transportation |
| 10.5. By Country Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 10.5.1. United States |
| 10.5.2. Canada |
| 10.6. North America Global Substation Monitoring System Market - Opportunity Analysis Index, By Component Type, By Communication Technology Type, By Sector, By Vertical and By Country 2024-2030 |
| 10.7. North America Global Substation Monitoring System Market Dynamics - Trends |
| 11. Europe Global Substation Monitoring System Market Analysis, 2020-2024 and Forecast 2025-2031 (Revenue, USD Mn ) |
| 11.1. Component Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1. Hardware |
| 11.1.2. Software |
| 11.2. By Communication Technology Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1. Wired |
| 11.2.2. Wireless |
| 11.3. By Sector Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1. Transmission |
| 11.3.2. Distribution |
| 11.4. By Industry Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 11.4.1. Utility |
| 11.4.2. Oil & Gas |
| 11.4.3. Mining |
| 11.4.4. Steel |
| 11.4.5. Transportation |
| 11.5. By Country Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 11.5.1. Germany |
| 11.5.2. United Kingdom |
| 11.5.3. Spain |
| 11.5.4. Italy |
| 11.5.5. France |
| 11.5.6. Russia |
| 11.5.7. Norway |
| 11.5.8. Rest of Europe |
| 11.6. Europe Global Substation Monitoring System Market - Opportunity Analysis Index, By Component Type, By Communication Technology Type, By Sector, By Vertical and By Country 2024-2030 |
| 11.7. Europe Global Substation Monitoring System Market Dynamics - Trends |
| 12. Asia-Pacific Global Substation Monitoring System Market Analysis, 2020-2024 and Forecast 2025-2031 (Revenue, USD Mn) |
| 12.1. Component Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1. Hardware |
| 12.1.2. Software |
| 12.2. By Communication Technology Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1. Wired |
| 12.2.2. Wireless |
| 12.3. By Sector Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1. Transmission |
| 12.3.2. Distribution |
| 12.4. By Industry Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 12.4.1. Utility |
| 12.4.2. Oil & Gas |
| 12.4.3. Mining |
| 12.4.4. Steel |
| 12.4.5. Transportation |
| 12.5. By Country Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 12.5.1. China |
| 12.5.2. India |
| 12.5.3. Japan |
| 12.5.4. South Korea |
| 12.5.5. Australia & New Zealand |
| 12.5.6. Rest of Asia-Pacific |
| 12.6. Asia-Pacific Global Substation Monitoring System Market - Opportunity Analysis Index, By Component Type, By Communication Technology Type, By Sector, By Vertical and By Country 2024-2030 |
| 12.7. Asia-Pacific Global Substation Monitoring System Market Dynamics - Trends |
| 13. Latin America Global Substation Monitoring System Market Analysis, 2020-2024 and Forecast 2025-2031 (Revenue, USD Mn) |
| 13.1. Component Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 13.1.1. Hardware |
| 13.1.2. Software |
| 13.2. By Communication Technology Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 13.2.1. Wired |
| 13.2.2. Wireless |
| 13.3. By Sector Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 13.3.1. Transmission |
| 13.3.2. Distribution |
| 13.4. By Industry Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 13.4.1. Utility |
| 13.4.2. Oil & Gas |
| 13.4.3. Mining |
| 13.4.4. Steel |
| 13.4.5. Transportation |
| 13.5. By Country Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 13.5.1. Brazil |
| 13.5.2. Mexico |
| 13.5.3. Argentina |
| 13.5.4. Rest of Latin America |
| 13.6. Latin America Global Substation Monitoring System Market - Opportunity Analysis Index, By Component Type, By Communication Technology Type, By Sector, By Vertical and By Country 2024-2030 |
| 13.7. Latin America Global Substation Monitoring System Market Dynamics - Trends |
| 14. Middle East and Africa Global Substation Monitoring System Market Analysis, 2020-2024 and Forecast 2025-2031 (Revenue, USD Mn) |
| 14.1. Component Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 14.1.1. Hardware |
| 14.1.2. Software |
| 14.2. By Communication Technology Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 14.2.1. Wired |
| 14.2.2. Wireless |
| 14.3. By Sector Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 14.3.1. Transmission |
| 14.3.2. Distribution |
| 14.4. By Industry Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 14.4.1. Utility |
| 14.4.2. Oil & Gas |
| 14.4.3. Mining |
| 14.4.4. Steel |
| 14.4.5. Transportation |
| 14.5. By Country Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 14.5.1. Middle East |
| 14.5.2. South Africa |
| 14.5.3. Israel |
| 14.5.4. Argentina |
| 14.5.5. Rest of Latin America |
| 14.6. Middle East and Africa Substation Monitoring System Market - Opportunity Analysis Index, By Component Type, By Communication Technology Type, By Sector, By Vertical and By Country 2024-2030 |
| 14.7. Middle East and Africa Substation Monitoring System Market Dynamics - Trends |
| 15. Competition Landscape |
| 15.1. Strategic Dashboard of Top Market Players |
| 15.2. Company Profiles (Introduction, Financial Analysis, Component & Service Offerings, Key Developments, Strategies, and SWOT Analysis) |
| 15.2.1. ABB (Switzerland) |
| 15.2.2. Honeywell (US) |
| 15.2.3. Siemens (Germany) |
| 15.2.4. Schneider Electric (France) |
| 15.2.5. Emerson Electric (US) |
| 15.2.6. General Electric (US) |
| 15.2.7. Eaton (Ireland) |
| 15.2.8. Schweitzer Engineering Laboratories (US) |
| 15.2.9. NovaTech (UK) |
| 15.2.10. Crompton Greaves (India). |
| 16. Research Methodology |
| 17. Key Assumptions and Acronyms |
Key Market Players
Download Sample
