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The IEC 61850 Complaint Routers’ and Switches’ Market to Grow at a Moderate Pace in the Next Five Years
The global market for IEC 61850 compliant routers and switches is unlikely to chart a high-growth path in the next five years. The global market for these products is still less than $150m per year but the market witnessed a steep growth of around 39.5% in 2010 when compared to 2009. This trend is likely to continue till 2012. The market is expected to witness a surge in growth from 2013 onwards. The Compounded Annual Growth Rate (CAGR) for the Switches’ market during the period 2009-2016 is opined to be around 18.2%.
Europe Remains the Leading Market for IEC 61850 Compliant Routers and Switches in 2010
The European market for IEC 61850 routers and switches has surpassed other global regions to emerge as the top revenue generator in 2010. Europe has a global market share of 34%, followed by North America, Asia-Pacific and the Rest-of-the-World. The Asia-Pacific region is quickly emerging as a key market for the IEC 61850 compliant routers and switches trailing closely behind the North American region with a market share of 26%.
Reduction in Cost of Future Technology Integration will Drive the Sale of IEC 61850 Compliant Routers and Switches
The IEC 61850 compliant routers and switches will bring down the cost of technology integration in future. The IEC 61850 standard for substation automation facilitates device integration and interoperability. Unlike legacy communication protocols, IEC 61850 Ethernet products from different vendors can be seamlessly integrated into the communication architecture of substations. This helps to bring down the cost of integration and boosts competition among players in the market for IEC 61850 compliant Ethernet routers and switches.
RuggedCom Emerges as the Leading Player in Global market for IEC 61850 Routers and Switches
RuggedCom Inc. has emerged as the global leader in the IEC 61850 routers’ and switches’ market. It has managed to capture more than 50% of the global market share. Its vast range of products in key categories has catapulted it to the leading position. RuggedCom is expected to maintain its market leadership position as it continues to be the top revenue earner in the US market for IEC 61850 compliant routers and switches.
GlobalData’s new report “IEC 61850 Routers and Switches in Smart Grid – Markets Analysis and Forecasts to 2016” is a detailed account of the global market for IEC 61850 compliant routers and switches. The report covers the market elements related to IEC 61850 compliant routers and switches. IEC 61850 routers and switches play a pivotal role in implementing smart grid norms through substation automation. The report covers various aspects of these routers and switches, such as market sizing, market analysis and competitive landscape analysis. At the very outset, the report discusses the global market size of the IEC 61850 compliant routers and switches. The report proceeds to explain the IEC 61850 routers and switches industry dynamics across the globe, identifying the key market drivers, industry challenges, product-pricing analysis and also provides a Michael Porter’s Five-Force analysis of the market. The report assesses the competitive scenario in the IEC 61850 compliant routers and switches industry and provides key analytics, such as market share analysis of key players and comparative product analysis.
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