Wind power refers to the conversion of kinetic energy generated by wind turbines into electrical energy. Due to depletion of fossil fuels and increase in green house effects, usage of renewable energy is sustainable as it is obtained from sources that are inexhaustible. Wind power, which is a prominently recognized renewable energy, is a clean energy source that can be relied upon for long term. Wind power is a cost-effective, pollution free, affordable, clean and sustainable source of energy. Wind power automation system refers to real time monitoring of the wind power system. It is essentially, a wind turbine that uses an intuitive human-machine interface (HMI) providing timely access to the actual operating parameters. The automation system helps in the control, monitor and optimization of the activities related to wind power functioning. Automation system in essential in every wind power company in order to protect the wind power infrastructure components and to achieve maximum efficiency in power generation.
Rise in concern towards the global environment and in efforts to reduce greenhouse effect, increase in global warming, and exhaustion of the conventional sources of energy are expected to drive the wind power automation system market. However available substitutes to wind power such as solar are gaining popularity. Thus the emerging renewable sources of energy are anticipated to hamper the growth of wind power automation system market. Furthermore, high cost involved in the installation of the system is a key challenge faced by the wind power automation system market. Moreover, difference in geographical conditions poses another threat for growth of the market. Government and private sectors are investing significantly on research on wind power automation in order to meet the increase in demand of electricity and to avoid adverse effects on environment. This, in turn, acts an opportunity for the firms who are actively seeking to penetrate the wind power automation system market and encourages collaborations between industries with research institutes for developing innovative solutions.
The global wind power automation system market can be segmented on basis of type of wind farms. Wind farms can be further divided into offshore wind farms and onshore wind farms. Offshore wind farms refer to the construction of wind farms on water bodies in order to generate electricity from wind, while onshore wind farms refer to the construction of wind farms on continental shelf. High maintenance cost of turbines, high costs of logistics, and lack of skilled manpower make the operation of offshore wind farms more challenging than that of onshore wind farms.
Basis on the type of automation system involved the global wind power automation system market can be segmented into condition monitoring systems (CMS), supervisory control and data acquisition (SCADA), programmable logic controller (PLC), distributed control system (DCS), and human machine interface devices (HMI).
Geographical segmentation of the wind power automation system market includes North America, Latin America, Asia-Pacific, Europe and Middle East & Africa. The market is expanding rapidly in North America and in few countries in Europe, owing to the availability of high-level of technical expertise and significant investments in research and development of wind power automation systems. The U.S. in North America and the U.K. and Germany in Europe are the key drivers of the market due to their high technological maturity. The market is projected to expand in Asia Pacific in the near future as China and India are the two wind power automation hotspots in the region due to increase in the number of installations in these countries during the recent years. Regions like Latin America and Middle East & Africa are stirring at present. The players in these regions benefit from several supportive regulatory measures as well as a significant wind turbine manufacturing base.
Key players operating in the global wind power automation system market include, ABB, General Electric, Siemens AG, Emerson Electric, Bachmann electronic GmbH, Rockwell Automation, Inc., Mitsubishi, Axiomtek, Beckhoff, B&R Automation, Advantech and Vestas Wind Systems.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
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The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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