Global Digital Substation Market Highlights:
The global digital substation market is expected to witness a remarkable growth during the forecast period. This is due to the considerable increase in transmission & distribution network and growing demand for power. The global digital substation market is expected to grow at 7.5% CAGR during the forecast period.
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. Digital Substations exploit the benefits of digital protection, control and communication technologies, mirroring the trend towards digitalization seen in many other industries.
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Digital substation is a combination of switchgear, transformers, substation automation, monitoring & diagnostics and the standard process bus process, and acts as the backbone of smart grids. They even provide real time phasor measurement data, increasingly, required to control the power flow and keep the grid stable, despite the rapidly increasing share of intermittent renewable energy sources. Aging power distribution network and expansion of the power distribution in developing nations, are expected to remain the key drivers for the global market for digital substations during the forecast period.
Global digital substation market has been segmented based on module, type, voltage, industry and region.
Based on module the market is segmented into hardware, fiber optic communication network and SCADA.
Based on type the market is segmented as transmission substation, and distribution substation.
Based on the Voltage, the digital substation market is segmented into up to 220 kV, 220–550 kV, and above 550 kV.
Based on the industry, the market has been segmented into utility, metal, mining, oil & gas and transportation.
Scope of the Report:
This study provides an overview of the global digital substation market, tracking four market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the Digital Substation market by its module, by type, by voltage, by industry and by region.
Table Of Contents
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.2 Research Objective
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Threat Of Substitutes
3.1.4 Segment Rivalry
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
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