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Global Substation Automation Market Will Boom with Growing Need for Remote Operations: TechnavioThe global substation automation market is expected to grow at a CAGR of more than 7% during the forecast period, according to Technavio's latest report. This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170616005605/en/ 
Technavio has published a new report on the global substation automation market from 2017-2021. (Graphic: Business Wire) In this report, Technavio covers the market outlook and growth prospects of the global substation automation market for 2017-2021. The market is segmented on the product (transmission and distribution) and end-user (industrial, commercial, and residential). The global substation automation market is likely to experience exacting growth during the forecast period due to the demand from APAC. India, China, and South Korea are major countries in the region that are likely to contribute to the market growth, owing to rising urbanization and growing level of awareness among people. The deployment of IoT and evolution of cloud computing are the two major trends that would incorporate substation automation to derive financial and operational benefits. Technavio's analysts segment the global substation automation market into the following regions:
EMEA: largest substation automation market "The rising IoT adoption and supporting telecom infrastructure in Europe and the Middle East will assist the substation automation market to grow in the coming years. The Middle East is likely to drive the substation automation market in EMEA in the next five years due to rapid development projects in the real estate sector and growing number of the data center," says Raghav Bharadwaj Shivaswamy, a lead analyst at Technavio for research on automation.
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free. Substation automation market in the Americas "Substation automation in the Americas will be readily adopted by utility companies to enhance the performance of their power transmission and distribution systems and reduce outage time. Latin American countries will majorly drive the substation automation market in the Americas due to a large set of industrial and commercial development," says Raghav. North American countries are expected to register rapid developments in hospitality, retail, and office buildings. This is likely to increase the scope for substation automation. The few real estate projects mentioned below is most likely to boost the requirement for substation automation due to the large need of power. Substation automation market in APAC Countries such as India, Singapore, Taiwan, and South Korea have been identified as prime locations for investments from Western multinational companies, particularly in the field of technology and healthcare. This indicates large power sector investment in APAC. These countries will be the largest contributors to the growth of the substation automation market in APAC during the forecast period. The real estate investments in these countries will shape the growth of modernization in electrification during the forecast period. Further, the Asia-Pacific Energy Co-operation (APEC) has set forth an objective to reduce the aggregate energy consumption in APAC by 45% until 2035 and encourage sustainable practices in energy usage. The top vendors in the global substation automation market highlighted in the report are: Browse Related Reports:
Become a Technavio Insights member and access all three of these reports for a fraction of their original cost. As a Technavio Insights member, you will have immediate access to new reports as they're published in addition to all 6,000+ existing reports covering segments like robotics. This subscription nets you thousands in savings, while staying connected to Technavio's constant transforming research library, helping you make informed business decisions more efficiently. About Technavio Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading-edge technologies. Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users. If you are interested in more information, please contact our media team at [email protected].
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