North American Market Forecast
The North American substation automation market is expected to dominate the market by registering the highest CAGR in the predicted period. This can be assumed owing to the rising adoption of advanced electronic devices. Moreover, escalating adoption of smart grids in the region is also estimated to boost market growth. For instance, over 90 million smart meters were installed throughout the U.S. in 2020.
APAC Market Statistics
The Asia Pacific market for substations automation is estimated to account for lucrative market value between 2025 2037. The expansion of the regional market can be attributed to changing energy infrastructure, which is supported by rising industrialization in developing countries. The growing demand for smart grids and smart electric meters to optimize energy utilization, along with the initiatives to promote the use of renewable is projected to promote market growth in the region.
Author Credits: Dhruv Bhatia
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