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The global market for substation automation systems is poised to jump from $2.94 billion in 2012 to $15.58 billion by 2020, according to a report from Zpryme.

The research firm explains that substation automation systems allow electric utilities to optimize their substations - and, thus, their overall distribution systems - through the use of an array of technologies.

In 2012, the report says communication networks and monitors, intelligent electronic devices (IEDs), and sensors accounted for 59% of the global substation automation market. By 2020, those technologies will account for 58% of the market.

Fifty-five percent of the market was made up of new and advanced substation systems in 2012 (vs. 45% for retrofit systems). In 2020, new and advanced substation systems will account for 60% of the global market (vs. 40% for retrofit systems).

Last year, North America accounted for 40% of the global substation automation market, while Europe and the Asia-Pacific accounted for 20% and 25%, respectively. By 2020, the report says the Asia-Pacific will hold 39% of the market, while North America and Europe will account for 25% and 18%, respectively.

China, the U.S. and Japan will represent the three largest countries for substation automation technologies by the end of the decade.

“Powered by the big energy brands, ABB, Alstom Grid, Siemens, Schneider Electric and GE, the substation evolution from a legacy to next-gen automation is growing at an exponential rate globally,” comments Mark Ishac, managing director of Zpryme Smart Grid Insights. “In addition to the smart grid, driving the substation automation space are the usual suspects: distribution intelligence, bottom-line capital cost savings, security and grid stability.”

For more information on the Zpryme report, click here.




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