Substation Automation Market Analysis By Component (Recloser Controller, Programmable Logical Controller, Capacitor Bank Controller, Digital Transducer/Smart Meter, Load Tap Controller, Communication Channel, Digital Relays), By Module (SCADA, IEDs, Communication Network), By Communication Channel (Ethernet, Power Line Communication, Copper Wire Communication, Optical Fiber Communication) And Segment Forecasts To 2024

Methodology

We implement a mix of primary and secondary research for our market estimate and forecast. Secondary research forms the initial phase of our study where we conduct extensive data mining, referring to verified data sources such as independent studies, government and regulatory published material, technical journals, trade magazines, and paid data sources such as Hoover’s, Factiva, ICS, and so on. This forms the basis of our estimates. For forecasting, the following parameters are considered:

                     • Market drivers and restraints along with their current and expected impacts
                     • Regulatory scenario and expected developments

We assign weights to these parameters and quantify their market impact using the weighted average analysis to derive an expected market growth rate. Furthermore, we use correlation, regression, and time-series analysis to evaluate key industry dynamics. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs), which typically include:

                     • Market leading participants
                     • Technology distributors and vendors
                     • Key consumers and clients

These exhaustive primary interviews help our analysts in validating the market and segment estimates and forecasts. Additionally, we also gain significant industry insights, key developments, and expectations. Grand View Research only utilizes validated and authenticated secondary data sources. Some of the secondary sources used for this report include but are not limited to:

                     • Remote Site & Equipment Management Magazine
                     • Utility Products
                     • Hindawi Publishing Corporation
                     • Electric Light & Power and Power Grid International
                     • Smart Grid News
                     • Hoover’s
                     • Company Annual Reports

Data Collection Matrix

Industry Analysis Matrix