Digital Substation Market Size Estimated to Observe Significant Growth During 2020 to 2025

According to Market Study Report, Digital Substation Market provides a comprehensive analysis of the Digital Substation Market segments, including their dynamics, size, growth, regulatory requirements, competitive landscape, and emerging opportunities of global industry.This report also provides market landscape and market share information in the Digital Substation Market.

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The Digital Substation Market is projected to reach USD 9.1 Billion by 2025 from USD 6.4 Billion in 2020; it is expected to grow at a CAGR of 7.1% during the forecast period.

Top Companies Profiled in the Digital Substation Market:
• ABB (Switzerland)
• General Electric Company (US)
• Siemens AG (Germany)
• Eaton Corporation Inc. (Ireland)
• Schneider Electric SE (France)
• Honeywell International Inc. (US)
• Cisco System (US)
• NR Electric (China)
• Emerson Electric Co. (US)
• Larsen & Toubro Limited (India)

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The leading companies have introduced several new installation projects in the digital substation market to boost the power flow, enhance electric reliability and the quality of supply, and upgrade the power infrastructure. Substations embedded with intelligent electronic devices (IEDs) have been designed in such a way that they comply with the IEC 61850 standard; this would help in the efficient transmission and distribution of power across various verticals such as industrial, residential, and commercial.

The utility industry is one of the booming application areas pertaining to digital substations, owing to the high demand-supply gap in energy in most of the developing and developed nations. The market growth can be attributed to the increase in demand for renewable energy sources, such as wind, solar, and hydro, to meet the power demand from consumers.

Breakdown of primary participants’ profile:
• By Company Type: Tier 1 = 50%, Tier 2 = 30%, and Tier 3 = 20%
• By Designation: C-level Executives = 35%, Directors = 30%, and Others = 35%
• By Region: North America = 40%, Europe = 25%, APAC = 20%, and RoW = 15%

Competitive Landscape of Digital Substation Market:
1 Overview
2 Ranking Analysis Of Key Players In Digital Substation Market
3 Competitive Situations And Trends
3.1 Product Launches
3.2 Agreements
3.3 Contracts
3.4 Expansions
3.5 Partnerships
3.6 Acquisitions
4 Competitive Leadership Mapping, 2019
4.1 Visionary Leaders
4.2 Dynamic Differentiators
4.3 Innovators
4.4 Emerging Companies

Research Coverage:
This report segments the digital substation market based on module, type, installation type, voltage, and industry. The report gives a detailed view of the market across 4 main regions: North America, Europe, APAC, and RoW.

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This release was published on openPR.