The Global Substation Automation market is to grow at a CAGR of 4.15 percent over the period 2012-2016. One of the key factors contributing to this market growth is the need for a reduction in transmission and distribution loss. The Global Substation Automation market has also been witnessing an increased number of government plans that encourage the installation of substation automation systems. However, the increased exposure of these systems to cyber-attacks could pose a challenge to the growth of this market.
Since 2009, governments in various countries across the globe have introduced and implemented numerous grants and policies that favor the Substation Automation sector. This is a trend that has had a major positive impact on the Global Substation Automation market. For instance, in Canada, governmental initiatives such as the Ontario smart grid initiatives, the Independent Electricity System Operator, and the Hydro-Quebec Plan encourage substation automation through current and upcoming projects. In the US, the American Recovery and Reinvestment Act of 2009 provide numerous substation automation and smart grid grants. Various other government initiatives and organizations include the North American Electric Reliability Corporation and critical infrastructure protection guidelines. Additionally, the emergence of mandatory cyber security defenses introduced by various US and Canada federal entities for the period of 2012-2016 will make the Substation Automation Communication segment stronger globally.
One of the major drivers in this market is the need to reduce T&D losses. Substation automation helps power utility operators detect T&D losses accurately and on time, thus helping them rectify problems faster than was possible before. Moreover, as T&D losses in various regions across the globe have increased over the past few years, and installation of substation automation systems is required to help reduce such losses. This drives the growth of the Global Substation Automation market.
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