Press release
Digital Substation Market growing 7.87% to cross USD 11.5 Billion by 2025: Market Revenue Analysis by ABB, GE, Siemens, Schneider Electric, Honeywell, Cisco, Eaton, Emerson, NR Electric
Digital Substation Market
Global Digital Substation Market Overview:
The Global Digital Substation Market to reach USD 11.5 Billion by 2025. The Global Digital Substation Market is valued approximately USD 6.3 Billion in 2017 and is anticipated to grow with a healthy growth rate of more than 7.87% over the forecast period 2018-2025.
Increasing technological advancements is considered as key trend for the Digital Substation Market. Additionally, the advent of battery technology to generate electricity is also expected to supplement the growth of the market across the globe.
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The key factors driving the growth of the Global Digital Substation Market are increasing infrastructure development in smart cities. Smart cities enable flexibility and cutting-edge intelligence that would help cities to utilize resources more efficiently to improve everything from air, water quality to transportation, energy and communication systems. According to the Smart America Organization, government would invest $41 trillion till 2045 with an aim to upgrade their infrastructure to benefit from the IOT. As per the company sources, in February 2015, Intel and the city of san Jose, CA collaborated on public-private partnership project which aims to implement Intel’s IoT smart city demonstration platform by launching green vision initiative. This project aims to create environmental sustainability and enhance the quality of life for its citizen.
The Global Digital Substation Market is segmented based on Module, Type, Industry and Region. Based on Module, the market is classified into hardware, Scada systems and fiber optic communication network of which of which hardware module dominates the market. On the basis of Type, the market is classified into transmission substation and distribution substation. On the basis of Industry, the market is classified into utility, metal, mining, oil & gas and transportation of which utility industry is one of the leading application areas owing to the high demand-supply gap in energy in most of the developed and developing nations.
As per the regional analysis, APAC dominates the global digital substation market in terms of revenue due to building renewable energy capacity of 175 GW by 2022 and various initiatives taken by government of India to improve its power and energy sector to ensure clean energy generation, which is expected to drive the growth of the digital substation market in APAC. Furthermore, Asia Pacific is expected to emerge as a fastest growing region during the forecasted period owning to untapped opportunities in this region.
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Major Key Players:
1 ABB
2 Siemens
3 General Electric
4 Schneider Electric
5 Honeywell
6 Cisco
7 Eaton
8 Emerson
9 NR Electric
10 Larsen & Toubro and More...............
Market segment by Regions/Countries, this report covers:
1 North America
2 Europe
3 Asia Pacific
4 Latin America
5 Rest of the World
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This study answers to the below key questions:
1 What will the market size be in 2025 and what will the growth rate be?
2 What are the key market trends?
3 What is driving this market?
4 What are the challenges to market growth?
5 Who are the key vendors in this market space?
6 What are the market opportunities and threats faced by the key vendors?
7 What are the strengths and weaknesses of the key vendors?
In the end, this report covers data and information on capacity and production overview, production, market share analysis, sales overview, supply, sales, and shortage, import, export and consumption as well as cost, price, revenue and gross margin of Digital Substation Market.
Major Points in Table of Contents:
Global Digital Substation Market Report 2019
1 Global Digital Substation Market Definition and Scope
2 Research Methodology
3 Executive Summary
4 Global Digital Substation Market Dynamics
5 Global Digital Substation Market, By Module
6 Global Digital Substation Market, By type
7 Global Digital Substation Market, By application
8 Global Digital Substation Market, By Industry
9 Global Digital Substation Market, by Regional Analysis
10 Competitive Intelligence
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