Digital Substation Market Growth, Top Players, and Forecast by 2031

MARKET INTRODUCTION

Power generation sources across the globe today have become highly distributed, diverse, intermittent and volatile. In such a scenario, the much needed control and performance demands for a more intelligent, efficient and a highly reliable grid. Digital substations have been successful in bridging the gap between analog and digital technologies and providing the needed control as well as performance. In a digital substation the entire operation is managed between distributed intelligent electrical devices that are interconnected using a communications network.

MARKET DYNAMICS

Growing digitalization of infrastructures mainly driven by smart city implementations are positively impacting the digital substation market in the recent times. Higher initial investments associated with the setting up of digital technologies in the utilities sector coupled with period maintenance poses certain challenges on the smooth growth of digital substation market. Further, rising emphasis laid down by the environmental bodies on renewable energy projects are anticipated to provide good opportunity platforms to the players operating in the digital substation market.

MARKET SCOPE

The "Global Digital Substation Market Analysis to 2031" is a specialized and in-depth study of the electronics and semiconductor industry with a special focus on the global market trend analysis. The report aims to provide an overview of the digital substation market with detailed market segmentation by type, voltage, end-user industry, and geography. The global digital substation market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading digital substation market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

The global digital substation market is segmented on the basis of type, voltage, and end-user industry. On the basis of type, the digital substation market is segmented into transmission substation and distribution substation. The digital substation market on the basis of the voltage is classified into Up to 220 kV, 220-550 kV, and above 500 kV. Based on end-user industry, the digital substation market is segmented into utility, metal, mining, oil and gas, and transportation.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global digital substation market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The digital substation market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the digital substation market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the digital substation in these regions.

MARKET PLAYERS

The reports cover key developments in the digital substation market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from digital substation market are anticipated to lucrative growth opportunities in the future with the rising demand for Digital substation in the global market. Below mentioned is the list of few companies engaged in the Digital substation market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the digital substation market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

• ABB Ltd.
• Cisco Systems, Inc.
• Eaton Corporation PLC
• Emerson Electric Co.
• General Electric Company
• Honeywell International, Inc.
• Larsen & Toubro
• NR Electric Co. Ltd.
• Schneider Electric SE
• Siemens AG

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Digital Substation Report Scope