Global Digital Substation Market, By Module (Hardware, Fiber-Optic Communication Networks, SCADA Systems), Type (Transmission Substation, Distribution Substation), Installation Type (New Installations, Retrofit Installations), Connectivity (< 33 kV, 33 kV to 110 kV, 110 kV to 220 kV, 220 kV to 550 kV, > 550 kV), Voltage Level (Low, Medium, High), Industry (Utility, Heavy Industries, Transportation, Others), Architecture (Process, Bay, Station), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights ; Global Digital Substation Market
Digital substation market is expected to reach USD 10.59 billion by 2028 witnessing market growth at a rate of 6.50% in the forecast period of 2021 to 2028. Data Bridge Market Research report on digital substation market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth.
Digital substation is also referred for the term electrical substation. It is the location where intelligent electronic devices (IEDs) interconnected by communications networks or SCADA equipment are used. Computing technology is used for this digital substation. The advantage of substations is that, in terms of architecture, engineering, service, installation, they carry a broad range.
Increasing investments in smart cities and smart grid infrastructure development, rising need of improved safety and effective communication in power distribution and transmission processes, compactness and high efficiency to cater to increasing power demand, increasing demand due to superior benefits over traditional counterparts, growing pace of digitalization across the globe, rising demand for power supply in limited space are some of the major as well as vital factors which will likely to augment the growth of the digital substation market in the projected timeframe of 2021-2028. On the other hand, rising demand for renewable energy projects along with increasing demand for battery technology to generate electricity which will further contribute by generating massive opportunities that will lead to the growth of the digital substation market in the above mentioned projected timeframe.
Increasing need of high capital investment along with concerns regarding cyber-attacks which will likely to act as market restraints factor for the growth of the digital substation in the above mentioned projected timeframe. Lack of effective electrical infrastructure along with slow paced technological evolution across developing regions which will become the biggest and foremost challenge for the growth of the market.
This digital substation market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on digital substation market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Digital Substation Market Scope and Market Size
Digital substation market is segmented on the basis of module, type, installation type, connectivity, voltage level, architecture and industry. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- Digital substation market on the basis of module has been segmented as hardware, fiber-optic communication networks, and SCADA systems. Hardware has been further segmented into transformers, busbars, protection devices, interfacing units, and others. Protection devices have been further sub segmented into circuit breakers, protective relays, and switchgears. Interfacing units have been further sub segmented into human-machine interfaces (HMI), remote terminal units (RTU), and programmable logic controllers (PLCs).
- Based on type, the digital substation market has been segmented into transmission substation, and distribution substation.
- On the basis of installation type, the digital substation market has been segmented into new installations, and retrofit installations.
- On the basis of connectivity, the digital substation market has been segmented into < 33 kV, 33 kV to 110 kV, 110 kV to 220 kV, 220 kV to 550 kV, and > 550 kV.
- Based on voltage level, the digital substation market has been segmented into low, medium, and high.
- On the basis of architecture, the digital substation market has been segmented into process, bay, and station.
- Digital substation has also been segmented on the basis of industry into utility, heavy industries, transportation, and others. Utility has been further segmented into non-renewables, and renewables.
Digital Substation Market Country Level Analysis
Digital substation market is analysed and market size, volume information is provided by country, module, type, installation type, connectivity, voltage level, architecture and industry as referenced above.
The countries covered in the digital substation market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America will dominate the digital substation market due to the presence of well-established players along with increasing adoption of advanced technology in the region while Asia-Pacific region will expect to grow in the forecast period of 2021-2028 due to the increasing demand for energy to support the local manufacturing units.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Digital Substation Market Share Analysis
Digital substation market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to digital substation market.
The major players covered in the digital substation market report are ABB; General Electric; Siemens; Eaton.; Schneider Electric; HONEYWELL INTERNATIONAL INC.; Cisco; Emerson Electric Co.; NR Electric Co., Ltd.; L&T Construction; Schweitzer Engineering Laboratories, Inc.; WELOTEC; TCS Digital; Tesco Automation Inc.; Locamation; SIFANG; Netcontrol Group; Prosoft-Systems" Ltd.; Fuji Electric Co., Ltd.; Tekvel; Efacec; among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.