Substation Wide Area Monitoring System Market Insights Video
According to Cognitive Market Research, the global substation wide area monitoring system market size will be USD 14251.5 million in 2024. It will rise at a compound annual growth rate (CAGR) of 8.9% between 2024 and 2031.
North America held the major market share for more than 40% of the global revenue with a market size of USD 5700.6 million in 2024 and will diversify at a compound annual growth rate (CAGR) of 7.1% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 4275.5 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 3277.8 million in 2024 and will progress at a compound annual growth rate (CAGR) of 10.9% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 712.6 million in 2024 and will scale at a compound annual growth rate (CAGR) of 8.3% from 2024 to 2031.
Middle East & Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 285 million in 2024 and will proceed at a compound annual growth rate (CAGR) of 8.6% from 2024 to 2031.
The renewable energy category is the fastest-growing application segment of the substation wide area monitoring system industry.
