Digital substation is a combination of transformers, switchgear, monitoring & diagnostics, substation automation, and standard process, which acts as a significant component in smart grids. Digital substation brings foremost benefits in terms of installation, engineering, operation, and provides real-time measurement of data to control the power flow and keep the grid stable despite of the rapidly changing share of intermittent renewable energy sources. The global market for digital substation has been segmented on the basis of module, type, voltage, industry, and by geographical region.

To have the edge over the competition by knowing the market dynamics and current trends of “Digital Substation Market,” request for Sample Report here

The key factors driving the growth of the global digital substation market include the rapid expansion of smart grid networks, strong electricity demand, and increasing demand to replace traditional substation technology around the world. It has been observed that the life span of grid infrastructure is between 38-52 days. Post this period, the infrastructure is affected by multiple cosmic breakdowns including, loosening screws and fraying wiring. For instance, in April 2017, power outages took place all across the U.S., wherein Los Angles, New York, and San Francisco were are the major affected areas. In the outage, each area experienced infrastructural problems such as mass transportation, communication networks, supply chains, and shut down in business commerce, resulting in huge monitory loss. Therefore, to eliminate such risks, business are paving their path toward digital substation technology as it offers high-performance digital sensors, shorter installation time, and durability.

Moreover, rapid development in renewable energy projects such as wind and solar is creating growth opportunities for the digital substation market globally. On the other edge, the initial investment in digital substation technology is higher than traditional substation technology, which is likely to hinder the growth of the global digital substation market.

Do you want to know more about the Research process and detailed Methodology, Request Research Methodology of this report

Based on the module, the fibre optic communication network segment is expected to observe a higher CAGR during the forecast period. All the hardware in a substation are connected to each other through a fiber optic cable and ensures that communication of data among modules makes the digital substation system easy to control and efficient. Therefore, the increasing demand of fibre optic communication network during the upcoming years is surging the demand of the segment.

On the basis of type, the distribution substation is projected to dominate the market over the forecast period. This is attributed to the growing industrialization and urbanization across the world. The distribution substation functions at a lower voltage and deliver electric energy directly to residential and industrial sectors.

Based on voltage, up to 220 KV segment would witness a higher CAGR during the forecast period due to a wide range of applications across numerous industries such as power and infrastructure industries. Furthermore, increasing urbanization is rising the demand for energy in cities, which is leading to the growth of the segment. The growing demand for up to 220KV voltage with innovative features would stimulate the growth of the segment in the upcoming years.

Based on industry, the utility segment is anticipated to grow at a higher CAGR over the forecast period. This is attributed to the high demand and supply gap in energy in most of the developed and developing countries. Furthermore, the increasing demand for renewable resources such as hydro, wind, and solar to meet customers’ requirements for power generation is proliferating the growth of the utility segment.

In case, any of your pain points areas are not covered in the current scope of this report, Request for Customization here

On the basis of region, the APAC region is expected to dominate the market during the forecast period. It has been observed that the population in this region is more focused on the modernization of industrial applications, and the same growth is expected to continue over the forecast period. The regional government is working on multiple projects, which include green energy sources, distribution network expansion, and renewable energy sources in numerous countries of the region, which in turn, will lead to a substantial growth of the APAC. On the other hand, the North America region is projected to dominate the market over the forecast period. This is attributed to the early adoption of technology and the presence of key players across the region, especially in countries like the U.S. and Canada.

The major players in the market include General Electric Company, Siemens AG, Cisco Systems Inc, Honeywell International Inc, ABB, Larsen & Turbo Limited, Emerson Electric, Yamal LNG, Eaton Corporation Plc, and NR Electric Co. Ltd.

Key Developments

• • In September 2019, Siemens AG partnered with Glitre Energi Nett to build a digital substation to pilot IoT applications and analytics for power grids.
  • In February 2017, ABB India delivered digital substation to IT park named Technopark in order to improve efficiency, reliability, and safety supporting India’s smart grid vison and mission.

The global digital substation market has been segmented based on module, type, and industry. Based on the module, the market is segmented into Hardware, Fibre Optic Communication Network, and SCADA Systems. Based on type, the market is segmented into Transmission Substation and Distribution Substation. Based on voltage, the market is segmented into Up to 220 KV, 220-550 KV, and Above 550 KV. Based on industry, the market is segmented into Utility, Metal, Mining, Oil & Gas, and Transportation.

For detailed scope of the “Digital Substation Market” report request a Sample Copy of the report

Key questions answered in this research report:

• • At what pace is the global Digital Substation market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in the global Digital Substation market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Digital Substation market?
  • What are the various industries of the global Digital Substation market, and how are they poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?
  • Which Module generated maximum revenues in 2019 and identify the most promising Module during the forecast period?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Module, By Type, By Voltage, By Industry, By Region
Regional Coverage	North America, Europe, Asia-Pacific and RoW
Companies Profiled	General Electric Company, Siemens AG, Cisco Systems Inc, Honeywell International Inc, ABB, Larsen & Turbo Limited, Emerson Electric, Yamal LNG, Eaton Corporation Plc, and NR Electric Co. Ltd, among others, a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

 Market Segmentation

Global Digital Substation Market by Module

• • Hardware
    • Transformers
    • Busbars
    • Protection Devices
      • Circuit Breakers
      • Protective Relays
      • Switchgears
    • Interfacing Units
      • Human-Machine Interfaces
      • Remote Terminal Units
      • Programmable Logic Controllers
    • Others
  • Fiber Optic Communication Network
  • SCADA Systems

Global Digital Substation Market by Type

• • Transmission Substation
  • Distribution Substation

Global Digital Substation Market by Voltage

• • Up To 220 KV
  • 220-550 KV
  • Above 550 KV

Global Digital Substation Market by Industry

• • Utility
    • Non-Renewables
    • Renewables
  • Metal
  • Mining
  • Oil & Gas
  • Transportation

Global Digital Substation Market by Region

• • North America Digital Substation Market (Option 1: As a part of the free 25% customization)
    • North America Market by Module
    • North America Market by Type
    • North America Market by Voltage
    • North America Market by Industry
    • US Market All-Up
    • Canada Market All-Up
  • Europe Digital Substation Market (Option 2: As a part of the free 25% customization)
    • Europe Market by Module
    • Europe Market by Type
    • Europe Market by Voltage
    • Europe Market by Industry
    • UK Market All-Up
    • Germany All-Up Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Digital Substation Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Market by Module
    • Asia-Pacific Market by Type
    • Asia-Pacific Market by Voltage
    • Asia-Pacific Market by Industry
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • ROW Digital Substation Market (Option 4: As a part of the free 25% customization)
    • RoW Market by Module
    • RoW Market by Type
    • RoW Market by Voltage
    • RoW Market by Industry
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating the Digital Substation (Option 5: As a part of the free 25% customization – Profiles of 5 Additional Companies of your Choice)

• • General Electric Company
  • Siemens AG
  • Cisco Systems Inc
  • Honeywell International Inc
  • ABB
  • Larsen & Turbo Limited
  • Emerson Electric
  • Yamal LNG
  • Eaton Corporation Plc
  • NR Electric Co. Ltd