Press release
Digital Substation Market In-Depth Qualitative Insights, Top Key Player: ABB Ltd. (Switzerland), Siemens AG (Germany), General Electric Company (U.S.), Schneider Electric (France)
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.
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. This trend of digitalization also applies to other areas of the substation. Within medium-voltage switchgear panels, for example, the horizontal exchange of IEC 61850-8-1 GOOSE and sampled analog values reduce wiring and accelerate the testing and commissioning. Digitalized technology can, continuously, monitor mission-critical functions of power transformers and High-voltage switchgear, while performing real-time simulation and diagnostics, meaning pro-active management of the assets lifecycle is possible.
The global digital substation market is expected to grow at 7.5% CAGR during the forecast period.
Access Complete Report @ https://www.marketresearchfuture.com/reports/digital-substation-market-5363
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.
By Module
Hardware
Fiber Optic Communication Network
SCADA
By Type
Transmission Substation
Distribution Substation
By Voltage
Up to 220 kV
220–550 kV
Above 550 kV
By Industry
Utility
Metal
Mining
Oil & Gas
Transportation
By Regions
North America
Asia Pacific
Europe
Rest of the World
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Key Players:
The key players of global digital substation market are ABB Ltd. (Switzerland), Siemens AG (Germany), General Electric Company (U.S.), Schneider Electric (France), Honeywell International Inc. (U.S.), Cisco Systems, Inc. (U.S.), Eaton Corporation plc (Ireland), Emerson Electric Co. (U.S.), NR Electric Co., Ltd. (China) and Larsen & Toubro (India).
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
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