Global Automation Control Market in Power Generation Sector 2018-2022
About Automation Control
Automation solutions for the power generation sector address physical barriers of power generation in plants and provide stable power supply without any major interruptions. These solutions ensure accurate measurement of emissions occurring in the plant and help in real-time monitoring and controlling of power plants operations.
Technavio’s analysts forecast the global automation control market in power generation sector to grow at a CAGR of 6.06 % during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global automation control market in power generation sector for 2018-2022. To calculate the market size, the report considers the revenue generated from the automation control.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Automation Control Market in Power Generation Sector 2018-2022
Technavio recognizes the following companies as the key players in the global automation control market in power generation sector: ABB, General Electric, Honeywell, Rockwell Automation, Schneider Electric, and Siemens
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is emergence of integrated solutions. The automation solution vendors are providing integrated solutions with unique software architecture for all the solutions offered by them. The uniform platform integrates the power plant automation systems as well as electrical, IT solutions, and diagnostics of a power plant. The major advantage of using such uniform platform is the maximization of data consistency and minimization of interfaces. For instance, Siemens offers SPPA-T3000 in its SPPA solutions with Embedded Core Software (ECS).”
According to the report, one of the major drivers for this market is Continued growth of highly scalable control solutions. Advances in the process control technology led power generation providers to realize the performance advantages of a true distributed control at a reduced cost. Many automation control solution vendors are offering purpose-built solutions that can be customized irrespective of scope, integrating entire business operations. The evolution of automation control solutions has led to the innovation of process control functionality and real-time data connectivity between the power plant and grid.
Further, the report states that one of the major factors hindering the growth of this market is Threat of cybersecurity. The threat of cybersecurity is a major challenge faced by automation control systems. Increased adoption of IoT and automation control systems have resulted in increased vulnerability to cyberattacks, leading to data loss. Software packages offered by third-party vendors are more vulnerable to cyber-attacks, as the level of security offered is very low. For instance, SCADA and other control systems are often infected by a worm named HAVEX, which is capable of erasing the entire data and giving unauthorized commands.
ABB, General Electric, Honeywell, Rockwell Automation, Schneider Electric, and Siemens