Press release
Digital Substation Global Market 2023 : By Share, Growth, Segments And Top Players Analysis | ABB Group, NR Electric, Eaton Corporation Inc., Schneider Electric, General Electric
Digital Substation Market Trends
As per the Digital Substation market report by The Business Research Company, The increase in demand for electricity is expected to propel the growth of the digital substation market. Digital substations are actively used in replacing traditional copper cable with advanced fiber optics transmitters to covert electrical signals to optical signals.
The global digital substation market size grew from $6.84 billion in 2022 to $7.59 billion in 2023 at a compound annual growth rate (CAGR) of 11.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The digital substation market size is expected to grow to $11.65 billion in 2027 at a CAGR of 11.3%.
Read More On The Digital Substation Market Report Here:
https://www.thebusinessresearchcompany.com/report/digital-substation-global-market-report
Major competitors in the Digital Substation market include ABB Group, NR Electric, Eaton Corporation Inc., Schneider Electric, General Electric, Larsen & Toubro, Siemens, Tekvel, Toshiba, Yamal LNG, DNV GL, Hitachi, Igrid T&D, Kalkitech, Locamation, and Panasonic Corporation.
The Digital Substation market is segmented -
By Voltage Level: Low, Medium, High
By Type: Transmission, Distribution
By Module: Fiber Optics Communication Network, Supervisory Control And Data Acquisition, Hardware
By Industry Vertical: Power Generation, Metal & Mining, Oil & Gas, Transportation & Logistics, Defence & Aerospace, Process & Manufacturing, Other Industry Verticals
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Europe was the largest region in the Digital Substation market.
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The term digital substation refers to an electrical substation in which operation is controlled by distributed intelligent electronic devices (IEDs) linked by communication networks. It is possible by the use of computing technologies in the substation. It is used to communicate between the relays in the control house and the instrument breakers, transformers, and merging units in the station yard. The digital substation brings digital technology into the substation.
The Table Of Content For The Digital Substation Market Include:
1. Executive Summary
2. Digital Substation Market Characteristics
3. Digital Substation Market Trends And Strategies
4. Digital Substation Market - Macro Economic Scenario
5. Digital Substation Market Size And Growth
……
26. Africa Digital Substation Market
27. Digital Substation Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Digital Substation Market
29. Digital Substation Market Future Outlook and Potential Analysis
30. Appendix
The "Global Digital Substation Market Report 2023" from The Business Research Company is a comprehensive report that covers every facet of a market covering over 60 geographies and over 2500 market segments. The regional and country breakdowns section analyzes the market in each geography and the market size by region and country. Furthermore, it assesses the market's historical and projected growth and identifies significant trends and strategies that companies can leverage for business expansion.
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