A Qualitative Research Study accomplished by HTF MI Title on ‘Global Digital Substation Market Insights by Application, Size, Status, Opportunity, Product Type & Regional Forecast 2025′ with detailed analysis, Competitive landscape, forecast and strategies. The study covers geographic analysis that includes regions like North America, Europe, Latin America, Middle East and Africa or Asia Pacific and important players/vendors such as ABB Group (Switzerland), Siemens (Germany), General Electric (United States), Cisco Systems (United States), Schneider Electric (France), Honeywell International (United States), Emerson Electric (United States), Larsen & Toubro (India), Eaton Corporation (Ireland) and NR Electric. The report will help you gain market insights, future trends and growth prospects for forecast period of 2020-2025.
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Digital Substation Market Overview:
Digital Substation is also referred for the term electrical substation. It is the place were operation is done between intelligent electronic devices (IEDs) that are interconnected by communications networks or SCADA Equipment. This digital substation uses computing technology. The major benefit of these substations is that they bring a wide scope in terms of designing, engineering, operation, and installation. Hence, the market for global digital substation will continue to be inclined towards the growth factors such as better reliability and availability as compared to the traditional ones. As observed in the market status it is seen that North America will be holding a major share in terms of the global market and Asia-Pacific is expected to grow throughout the upcoming years.
The market study is being classified by Type (Transmission Substations and Distribution Substations), by Application (Power Utility and Industrial) and major geographies with country level break-up.
ABB Group (Switzerland), Siemens (Germany), General Electric (United States), Cisco Systems (United States), Schneider Electric (France), Honeywell International (United States), Emerson Electric (United States), Larsen & Toubro (India), Eaton Corporation (Ireland) and NR Electric (China) are some of the key players profiled in the study.
The market for digital substation has the number of key players that are finding their new way to sustain in the market for a better portfolio. Hence, the manufacturers & suppliers have continuously been streamlining their research & development investments to enhance and expand system portfolios. However, new fund allocation from major industry players to incorporate a flexible technological platform has acted as a considerable breakthrough. Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global Digital Substation market throughout the predicted period.
Advance Market Analytics has segmented the market of Global Digital Substation market by Type, Application and Region.
On the basis of geography, the market of Digital Substation has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Increasing Pace of Digitalization across World
Increasing Infrastructure Development in Smart Cities
Rising Demand for Power Supply in Limited Space
Rising Trend of Implementing Developments in the Context of Iot, Cloud, AI & ML among Others in Digital Substations
Adopting Technological Innovations in Terms of Digital Substations
High Cost Associated With the Installation of these Substations
Paradigm Shift toward the Expansion of Prevailing Networks in Developed Nations Is Boosting the Industry
Rising Demand for Replacing Traditional Substation Infrastructure
Lack of Effective Electrical Infrastructure in the Emerging Countries can be one of the Challenge towards the Industry
Concerns Related to Controlling Cybersecurity Risks
Market Leaders and their expansionary development strategies
On 23rd November 2018, Efacec and the Russian company Profotech signed a strategic agreement in order to focus on innovative sensors for digital substations. The main objective of this agreement is to promote a set of automation solutions for digital substations for the international market in general and for the Russian market in particular.
On August 27, 2018, GE Power launched new innovations at CIGRE 2018. They also launched Intelligent Digital Substations which enables to utilize of operators to maximize asset and substation utilization up to 30 percent. Coupling powerful visualization tools with the digitization of primary substation equipment and secondary systems, operators can collect and analyze critical data to proactively detect potential failures up to six months in advance.
Key Target Audience
Intelligent electronic devices (IED) manufacturers, Supervisory control and data acquisition (SCADA) solution providers, Communication network providers, Power utility companies, Turnkey contractors, Distributors and traders and Research organizations
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Strategic Points Covered in Table of Content of Digital Substation Market:
Chapter 1: Introduction, market driving force product Objective of Study and Research Scope the Digital Substationmarket. (Introduction, Scope of the Report)Chapter 2: Exclusive Summary – the basic information of the Digital Substation Market. (Introduction)
Chapter 3: Dis
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