Global Substation Automation Market Size to Exceed USD 90.11 Billion by 2033: Forecast Analysis Report

Global Substation Automation Market Size to Exceed USD 90.11 Billion by 2033                

According to a research report published by Spherical Insights & Consulting, The Global Substation Automation Market Size Expected to Grow from USD 45.96 Billion in 2023 to USD 90.11 Billion by 2033, at a CAGR of 6.96% during the forecast period 2023-2033.         

Browse 210 market data Tables and 45 Figures spread through 190 Pages and in-depth TOC on the Global Substation Automation Market Size, Share, and COVID-19 Impact Analysis, By Module Type (Intelligent Electronic Devices, Communication Networks, and SCADA Systems), By Substation Type (Transmission and Distribution), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033       

The substation automation market is centered on the digitalization and automation of substations through intelligent electronic devices (IEDs), SCADA, and advanced communication networks. It promotes grid reliability, remote monitoring, and operational efficiency, which enables smart grids, and renewable energy integration, and minimizes outages, thus it is important to utilities, industries, and infrastructure modernization. Moreover, this growth in substation automation can be attributed mainly to the emergence of smart grids, renewable integration, and a quest for overall grid modernization. Increasingly higher investments being put into infrastructural power distribution networks, continuously growing electricity consumptions, the demand for live monitoring and supervisory control on grids, and improvement in IoT technologies, AI applications, and their allied cybersecurity concepts with government standards enforcing energy-efficient grid reliability make adoption inevitable thereby driving automation imperative in reducing shutdowns and attaining operational improvements at substations. However, high initial investment costs, cybersecurity risk, integration problems with legacy systems, and scarcity of skilled workforce are some restraints that hinder the widespread adoption and implementation of the substation automation market.

The intelligent electronic devices segment accounted for the largest share of the global substation automation market in 2023 and is anticipated to grow at a significant CAGR during the forecast period.              

On the basis of module type, the global substation automation market is divided into intelligent electronic devices, communication networks, and SCADA systems. Among these, the intelligent electronic devices segment accounted for the largest share of the global substation automation market in 2023 and is anticipated to grow at a significant CAGR during the forecast period. This is because of their critical role in real-time monitoring, protection, and control of substations. IEDs enable automated decision-making, improve grid reliability, and support smart grid initiatives, making them crucial for modernizing power infrastructure and enhancing operational efficiency.

The distribution segment accounted for a substantial share of the global substation automation market in 2023 and is anticipated to grow at a rapid pace during the projected period. 

On the basis of substation type, the global substation automation market is divided into transmission and distribution. Among these, the distribution segment accounted for a substantial share of the global substation automation market in 2023 and is anticipated to grow at a rapid pace during the projected period. The electricity demand is increasing due to smart grid adoption and rising urbanization. Substations are important for efficient power distribution, grid stability, and integration of renewable energy. The growing demand for such solutions with automation, remote monitoring, and real-time control solutions keeps this market in growing demand.

North America is projected to hold the largest share of the global substation automation market over the projected period.

North America is projected to hold the largest share of the global substation automation market over the projected period. This is on account of wide smart grid deployment, high investment in the modernization of power infrastructure, and increased renewable energy integration. Furthermore, the major presence of utility companies, stringent regulatory policies for ensuring grid reliability, and an advanced IoT and cybersecurity environment have further propelled demand for automated and digital substations in the region.

Asia Pacific is expected to grow at the fastest CAGR growth of the global substation automation market during the projected period. The factors driving the growth of automated substations include rapid urbanization, increasing electricity demand, and large-scale investments in smart grids and renewable energy projects. Grid modernization initiatives, government policies for energy efficiency, and expanding industrialization in countries like China, India, and Japan are driving growth, thereby boosting the adoption of automated substations.

Company Profiling

Major vendors in the global substation automation market are Siemens, Schneider Electric, Mitsubishi Electric Corporation, General Electric Company, ABB, Eaton, Cisco Systems, Inc., Honeywell International Inc., Emerson Electric Co., Schweitzer Engineering Laboratories, Inc., and Others.

Key Target Audience

• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• In December 2024, Sella Controls secured a contract to enhance the traction power systems for the Tyne and Wear Metro, utilizing equipment from Mitsubishi Electric Automation Systems. This initiative involves upgrading 47 substations within the transit network and stems from a collaboration focused on creating the Tracklink RTU, a solution designed for rail traction power management. The Tracklink system incorporates Mitsubishi Electric’s panel-mounted GOT human-machine interfaces (HMIs) and i-QR PLCs, offering a versatile and cost-effective approach to electrical substation automation.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global substation automation market based on the below-mentioned segments:

Global Substation Automation Market, By Module Type

• Intelligent Electronic Devices
• Communication Networks
• SCADA Systems

Global Substation Automation Market, By Substation Type

• Transmission
• Distribution

Global Substation Automation Market, By Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa