Substation Wide Area Monitoring System Market Report 2025 (Global Edition)

Global Substation Wide Area Monitoring System Market Report 2025 Market Size Split by Type (Hardware, Software, Services), by Application (Utilities, Industrial, Renewable Energy, Infrastructure, Tran...

Substation Wide Area Monitoring System Market Report Description

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Substation Wide Area Monitoring System Market Insights Video

Competitive Landscape of the Substation Wide Area Monitoring System Market

The global substation wide area monitoring system market is highly competitive, with leading companies actively focusing on innovation, integration of emerging technologies such as IoT and AI, and offering customized solutions to meet specific utility needs. Key players are heavily investing in R&D projects to enhance system efficiency, cybersecurity, and data analytics capabilities. Strategic collaborations, partnerships, and acquisitions are common in this market as companies aim to expand their product portfolios and geographic reach.

In March 2022, General Electric (GE) and Bond announced plans to build a digital substation for the offshore wind farm. The GE Group is scheduled to oversee the digital substation installation, which will include advanced digital substation monitoring, control, and software systems. GE would supply the connection and power balancing required between the offshore wind farm and the point of connecting to the New York power grid. (Source:https://www.gevernova.com/grid-solutions/press/gepress/ge-bond-consortium-awarded-landmark-contract-to-build-high-voltage-electrical-systems.htm) In February 2022, Enedis and Schneider Electric started a project to develop a new generation of MV/LV substation equipment as an alternative to SF6 (sulphur hexafluoride) gas. This gas, which is employed in MV electrical equipment due to its excellent insulating and dielectric qualities, is particularly beneficial for medium and high-voltage electrical distribution. (Source:https://www.se.com/ww/en/about-us/newsroom/news/press-releases/enedis-and-schneider-electric-are-launching-an-innovative-solution-for-new-generation-substations-6217685627ecf31a95392024) In February 2021, Hitachi ABB Power Grids announced the launch of its Smart Digital Substation offering, which combines modern digital substation technology with the unique prescriptive, predictive, and prognostic capabilities of Hitachi's industry-leading Lumada Asset Performance Management (APM) solution. (Source:https://www.hitachienergy.com/in/en/news-and-events/press-releases/2021/02/hitachi-abb-power-grids-drives-digital-transformation-of-the-power-sector-with-new-smart-digital-substation)

Top Companies Market Share in Substation Wide Area Monitoring System Industry: (In no particular order of Rank)

• Siemens AG (Germany)
• Schneider Electric (France)
• General Electric (GE) (U.S.)
• ABB Ltd. (Switzerland)
• Honeywell International Inc. (U.S.)
• Eaton Corporation (Ireland)
• Rohde & Schwarz GmbH & Co. KG (Germany)
• Cisco Systems
• Inc. (U.S.)
• Emerson Electric Co. (U.S.)
• Oslo Electric (Norway)
• Indra Sistemas
• S.A. (Spain)
• Mitsubishi Electric Corporation (Japan)
• Rockwell Automation
• Inc. (U.S.)
• Parker Hannifin Corporation (U.S.)
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Regional Analysis of the Substation Wide Area Monitoring System Market

Which Region Dominates the Substation Wide Area Monitoring System Market in 2024?

According to Cognitive Market Research, North America holds a majority share in the global substation wide area monitoring system market due to its highly advanced power infrastructure and heavy investments in grid modernization. The region, particularly the U.S., has been a frontrunner in adopting smart grid technologies and integrating renewable energy sources into its electrical grids. This transition requires modern monitoring and control systems like SWAMS to ensure grid stability and efficiency. Besides, strong government support through policies and funding for infrastructure upgrades, along with the presence of key industry players and robust telecommunications networks, has further accelerated the adoption of SWAMS in the North American market.

Which Region is Expanding at the Fastest CAGR?

Asia Pacific stands out as the fastest-growing region in the global substation wide area monitoring system market due to rapid urbanization, industrialization, and a growing demand for reliable power infrastructure. Countries like China, India, and Japan are heavily investing in upgrading their power grids to accommodate increasing electricity consumption and the integration of renewable energy sources. These nations are also focusing on enhancing grid resilience and efficiency through the deployment of advanced technologies like SWAMS. Moreover, government initiatives aimed at reducing power outages and improving grid stability, along with rising investments in smart grid projects, are fueling the growth of the SWAMS market across this region.

The current report Scope analyzes Substation Wide Area Monitoring System Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Substation Wide Area Monitoring System

According to Cognitive Market Research, the global substation wide area monitoring system market size was estimated at USD 14251.5 million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 5700.6 million in 2024 and will climb at a CAGR of 7.1% from 2024 to 2031.

• According to Cognitive Market Research, the U.S. had a major share in the substation wide area monitoring system market with a market size of USD 4497.8 million in 2024 and is projected to grow at a CAGR of 6.9% in the forecast period. In the United States, the substation wide area monitoring system market is continuously expanding due to aging electrical infrastructure and the urgent need for modernization.
• The Canada substation wide area monitoring system market had a market share of USD 684.1 million in 2024 and is likely to climb at a CAGR of 7.9% in the forecasted period. Canadian utilities are increasingly adopting smart grid technologies to improve energy distribution and reliability, creating a conducive environment for the deployment of advanced monitoring solutions.
• The Mexico substation wide area monitoring system market is anticipated to experience growth at a CAGR of 7.6% within the forecast timeframe, with a market size of USD 518.8 million in 2024.

Europe Substation Wide Area Monitoring System

According to Cognitive Market Research, the global substation wide area monitoring system market size was estimated at USD 14251.5 million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 4275.5 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.4% from 2024 to 2031.

• The U.K. substation wide area monitoring system market had a market share of USD 718.3 million in 2024 and is likely to broaden at a CAGR of 8.2% within the predicted timeframe. In the U.K., the growth of the substation wide area monitoring system market is largely influenced by the transition to a low-carbon energy system.
• The France substation wide area monitoring system market is anticipated to develop at a 6.6% CAGR throughout the projected time frame, reaching USD 393.3 million in 2024.
• According to Cognitive Market Research, the German substation wide area monitoring system market size was valued at USD 846.5 million in 2024 and is projected to evolve at a CAGR of 7.6% through the estimated period. German commitment to phasing out nuclear energy by 2025 and coal by 2038 has intensified the need for wide area monitoring systems to manage power fluctuations and ensure grid reliability.
• The Italy substation wide area monitoring system market is projected to witness growth at a CAGR of 6.8% over the forecast time frame, with a market value size of USD 367.7 million in 2024.
• The Russia substation wide area monitoring system market is likely to witness growth at a CAGR of 6.4% in the projected period, with a market value size of USD 662.7 million in 2024.
• The Spain substation wide area monitoring system market is predicted to witness growth at a CAGR of 6.5% during the assessment period, with a market size of USD 350.6 million in 2024.
• The Luxembourg substation wide area monitoring system market is projected to witness growth at a CAGR of 7.5% during the research time frame, with a market size of USD 132.5 million in 2024.
• The Portugal substation wide area monitoring system market is anticipated to witness growth at a CAGR of 7.2% during the forecasting time frame, with a market size of USD 89.8 million in 2024.
• The Greece substation wide area monitoring system market is predicted to witness growth at a CAGR of 7.7% over the assessment period, with a market size of USD 51.3 million in 2024.
• The Rest of Europe's substation wide area monitoring system market is estimated to witness growth at a CAGR of 6.1% in the forecast period, with a market size of USD 662.7 million in 2024.

Asia Pacific Substation Wide Area Monitoring System

According to Cognitive Market Research, the global substation wide area monitoring system market size was estimated at USD 14251.5 million, out of which Asia Pacific held the market share of nearly 23% of the global revenue with a market size of USD 3277.8 million in 2024 and will emerge at a CAGR of 10.9% from 2024 to 2031.

• According to Cognitive Market Research, the China substation wide area monitoring system market size was valued at USD 1475 million in 2024 and is likely to evolve at a CAGR of 10.4% in the forecasted period. China is a global leader in renewable energy deployment, especially in solar and wind energy, which requires highly advanced monitoring systems to manage the variability of power generation.
• The Japan substation wide area monitoring system market is expected to flourish at a 9.4% CAGR throughout the projected time frame, reaching a market value of USD 452.3 million in 2024.
• The India substation wide area monitoring system market had a market share of USD 393.3 million in 2024 and is likely to climb at a CAGR of 12.7% within the anticipated timeframe. The Indian governmental efforts to modernize the power sector, such as the Deen Dayal Upadhyaya Gram Jyoti Yojana, encourage the adoption of modern monitoring solutions.
• The South Korean substation wide area monitoring system market is predicted to widen at a CAGR of 10% over the forecasted period, with a market size of USD 327.8 million in 2024.
• The Australian substation wide area monitoring system market is likely to witness growth at a CAGR of 10.6% throughout the predicted timeframe, with a market size of USD 170.4 million in 2024.
• The Southeast Asia substation wide area monitoring system market is anticipated to experience growth at a CAGR of 11.9% in the forecast timeframe, with a market size of USD 226.2 million in 2024.
• The Rest of the Asia Pacific substation wide area monitoring system market is anticipated to see growth at a CAGR of 10.7% in the forecast period, with a market size of USD 232.7 million in 2024.

South America Substation Wide Area Monitoring System

According to Cognitive Market Research, the global substation wide area monitoring system market size was estimated at USD 14251.5 million, out of which Latin America held the market share of around 5% of the global revenue with a market size of USD 712.6 million in 2024 and will climb at a CAGR of 8.3% from 2024 to 2031.

• According to Cognitive Market Research, the Brazil substation wide area monitoring system market size was valued at USD 305 million in 2024 and is estimated to develop at a CAGR of 8.9% throughout the projection period. The Brazilian market for substation wide area monitoring systems is expanding due to the increased priority on updating its power infrastructure, particularly in the wake of numerous blackouts and power outages.
• Argentina's substation wide area monitoring system market had a market share of USD 119.7 million in 2024 and is likely to climb at a CAGR of 9.2% within the forecasted period. In Argentina, the substation wide area monitoring system market is growing due to the ongoing efforts to improve energy infrastructure and address challenges related to power outages and distribution inefficiencies.
• Colombia substation wide area monitoring system market is projected to witness growth at a CAGR of 8.1% within the forecast timeframe, with a market size of USD 63.4 million in 2024.
• Peru substation wide area monitoring system market is projected to witness growth at a CAGR of 8.5% throughout the anticipated period, with a market size of USD 58.4 million in 2024.
• Chile substation wide area monitoring system market is likely to observe growth at a CAGR of 8.6% within the estimated time frame, with a market size of USD 51.3 million in 2024.
• The Rest of Latin America's substation wide area monitoring system market is estimated to see growth at a CAGR of 7.4% in the forecast period, with a market size of USD 114.7 million in 2024.

Middle East Substation Wide Area Monitoring System

According to Cognitive Market Research, the global substation wide area monitoring system market size was estimated at USD 14251.5 million, out of which the Middle East & Africa held the major market share of around 2% of the global revenue with a market size of USD 285 million in 2024 and will climb at a CAGR of 8.6% from 2024 to 2031.

• The GCC countries substation wide area monitoring system market is anticipated to flourish at a CAGR of 9.4% during the forecast period, reaching USD 122 million in 2024. The ongoing diversification of the energy mix, including the adoption of renewable energy sources such as solar power, particularly in the UAE and Saudi Arabia, is creating a need for more sophisticated grid management solutions.
• The Egypt substation wide area monitoring system market is expected to develop at an 8.9% CAGR over the forecast period, reaching USD 29.9 million in 2024.
• The South Africa substation wide area monitoring system market is predicted to widen at a CAGR of 9.6% within the forecast timeframe, with a market size of USD 45 million in 2024. In South Africa, the growth of the substation wide area monitoring system market is largely influenced by the continuous need to address the ongoing challenges of energy supply and distribution.
• The Turkey substation wide area monitoring system market is projected to witness growth at a CAGR of 8.1% in the forecasted period, with a market size of USD 24.5 million in 2024.
• The Nigeria substation wide area monitoring system market is expected to increase at a CAGR of 7.7% over the projected time frame, with a market size of USD 29.9 million by 2024.
• The Rest of the MEA substation wide area monitoring system market is predicted to rise at a CAGR of 7.6% in the forecast period, with a market size of USD 33.6 million in 2024.

Substation Wide Area Monitoring System Market Analysis

Substation Wide Area Monitoring System Market Type Segment Analysis

According to Cognitive Market Research, the software is the leading category in the substation wide area monitoring system market due to its key function in real-time data analysis, visualization, and decision-making. SWAMS software integrates various functionalities, including data acquisition, predictive analytics, and fault detection, allowing utilities to monitor the performance and health of substations effectively. With the increasing complexity of power grids and the integration of renewable energy sources, advanced software solutions provide essential insights that help operators optimize grid performance, enhance reliability, and minimize downtime.

Services in the SWAMS market are recognized as the fastest-growing segment, owing to the increasing demand for expert support and customized solutions as utilities navigate the complexities of modern power management. These services encompass a wide range of offerings, including installation, maintenance, technical support, and training related to SWAMS technologies. As utilities invest in advanced monitoring systems, the need for ongoing technical assistance and training for personnel becomes essential to ensure optimal system performance and effective utilization.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Substation Wide Area Monitoring System Industry. Request a Free Sample PDF!

Substation Wide Area Monitoring System Market Application Segment Analysis

According to Cognitive Market Research, the utility sector stands out as the dominant application segment in the SWAMS market. This dominance is attributed to the essential role that substations play in the electricity distribution network, where continuous monitoring is critical for ensuring reliable and efficient power delivery. Utilities utilize SWAMS to gain real-time insights into the operational status of substations, identify potential issues before they escalate, and optimize the management of power flows across the grid. The integration of SWAMS within utility operations facilitates enhanced grid stability, reduces downtime, and improves overall service quality, which makes it an ideal component in modern energy management strategies.

The renewable energy application category is rapidly developing within the SWAMS market, mainly due to the global transition toward cleaner energy sources. As the integration of renewable energy sources, such as solar and wind, increases in power grids, there is a growing need for modern monitoring systems to manage the variability and intermittency associated with these resources. SWAMS enables operators to monitor the performance of renewable energy assets in real-time, ensuring their efficient integration into the grid and maintaining system reliability. SWAMS can also facilitate demand response initiatives and energy management solutions, allowing for better alignment between supply and demand.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

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Vinayak Bali

Senior Research Analyst at Cognitive Market Research

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