Substation Monitoring System Market: By Component Type (Hardware, Software), By Communication Technology Type (Wired, Wireless), By Sector Type (Transmission, Distribution), By Industry (Utility, Oil & Gas, Mining, Steel, Transportation) and Geography    

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Substation Monitoring System Market size was valued at USD 3,343.9 million in 2023 and is expected to grow at a significant CAGR of 8.9% during the forecast period 2024 to 2030. The global market provides a detailed overview of the Substation Monitoring System market and that can be segmented by component type, by communication technology type, by sector type. By component type, the substation monitoring system 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 Substation Monitoring System 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 substation monitoring system 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 substation monitoring system market. The Oil & Gas segment is expected to witness the highest CAGR during the forecast period according to Precision Business Insights.

Substation Monitoring System Market Key Development:
  • In August 2021, Hitachi ABB Power Grids Ltd. (India) announced the development of a TXpert remote services portfolio for remote monitoring of transformer fleets, consulting, troubleshooting, and guidance using augmented reality. Hitachi ABB Power Grids supports in analyzing large amounts of data and creating comprehensive reports required for optimal maintenance.

Substation Monitoring System Market Summary

Study Period

2024-2030

Base Year

2023

CAGR

8.9%

Largest Market

North America

Fastest Growing Market

Asia-Pacific
Substation Monitoring System Market Dynamics

The main factors driving the substation monitoring system market is the increasing demand for reduced distribution and transmission losses in developing countries such as India is propelling the substation monitoring system 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.

Substation Monitoring System Market Segmentation

By Component Type
  • Hardware
  • Software
By Technology Type
  • Wired
  • Wireless
By Sector Type
  • Transmission
  • Distribution
By Industry
  • Utility
  • Oil & Gas
  • Mining
  • Steel
  • Transportation

Frequently Asked Questions

The Substation Monitoring System Market is projected to expand at a CAGR of 8.9% during the forecast period 2024-2030.

The major players in the global Substation Monitoring System 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 Substation Monitoring System Market

Key Features of the Reports

  • The Substation Monitoring System Market report provides granular level information about the market size, regional market share, historic market (2019-2023) and forecast (2024-2030)
  • The report covers in-detail insights about the competitor's overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
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, 2019-2023 and Forecast, 2024-2030
4.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (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, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn ) 
5.1. Hardware
5.1.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (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, 2019-2023 and Forecast, 2024-2030 (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, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn )
6.1. Wired
6.1.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (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, 2019-2023 and Forecast, 2024-2030 (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, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn )
7.1. Transmission
7.1.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (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, 2019-2023 and Forecast, 2024-2030 (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, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn )
8.1. Utility
8.1.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (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, 2019-2023 and Forecast, 2024-2030 (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, 2019-2023 and Forecast, 2024-2030 (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, 2019-2023 and Forecast, 2024-2030 (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, 2019-2023 and Forecast, 2024-2030 (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, 2019-2023 and Forecast, 2024-2030  (Revenue, USD Mn ) 
9.1. North America
9.1.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (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, 2019-2023 and Forecast, 2024-2030 (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, 2019-2023 and Forecast, 2024-2030 (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, 2019-2023 and Forecast, 2024-2030 (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, 2019-2023 and Forecast, 2024-2030 (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, 2019-2023 and Forecast, 2024-2030 (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, 2019-2023 and Forecast, 2024-2030 (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, 2019-2023 and Forecast, 2024-2030 (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, 2019-2023 and Forecast, 2024-2030 (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, 2019-2023 and Forecast, 2024-2030 (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
  • 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).

Adjacent Markets