Global Digital Substation Market

The Global Digital Substation Market was valued at USD 5.86 billion in 2016 and is projected to reach USD 11.67 billion by 2025, growing at a CAGR of 7.95% from 2017 to 2025.

Digital Substations is the combination of automation, digital analytics and monitoring capabilities embedded in power-systems management for powergrids. Its applications include - overage power management, digital monitoring, substation digital transformers and more. It provides real-time power-grid management for faster and better capabilities. Digital Substations enable electric power utilities to increase productivity, reduce footprint, increase functionality, improve the reliability of assets and, crucially, improve safety for service personnel.

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Market Dynamics:
1. Market Drivers
1.1 Increasing demand for renewable energy projects in market
1.2 Rising demand for battery technology to generate electricity
1.3 Reduces maintenance costs and improved safety
1.4 Growing infrastructure development in smart cities
1.5 Growing demand to replace traditional substation infrastructure
1.6 Increasing power demand with limited space availability

2. Market Restraints
2.1 Controlling Cybersecurity risks
2.2 High initial investment cost

Market Segmentation:
The Global Digital Substation Market is segmented into type, module, voltage, vertical, and region.

1. Type:
1.1 Distribution substation
1.2 Transmission substation

2. By Module:
2.1 Fiber optic communication network
2.2 Supervisory control and data acquisition
2.3 Hardware

3. By Voltage:
3.1 Up to 220 kV
3.2 220 kV to 550 kV
3.3 Above 550 kV

4. By Vertical:
4.1 Transportation
4.2 Mining
4.3 Metal
4.4 Utility
4.5 Oil & Gas
4.6 Others

5. By Region:
5.1 North America (U.S., Canada, Mexico)
5.2 Europe (Germany, UK, France, Rest of Europe)
5.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
5.4 Latin America (Brazil, Argentina, Rest of Latin America)
5.5 Middle East & Africa

Competitive Landscape:
The major players in the market are as follows:
1. General Electric
2. Siemens
3. Schneider Electric
4. Honeywell
5. ABB
6. Larsen & Toubro
7. Emerson
8. Cisco Systems
9. Eaton
10. NR Electric
11. Cadillac Automation and Controls
12. I-Tor
13. Yamal LNG
14. Tekvel
15. Igrid T&D

These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.

RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH:
Research study on the Global Digital Substation Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.

To know more about the research methodology of verified market research and other aspects of the research study, kindly get in touch with our sales team

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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