Press release
Digital Ray Substation Automation Market Poised to Hit $12.52 Billion by 2029 with Accelerating Growth Trends
Digital Ray Substation Automation Market Size
Digital Ray Substation Automation Market Size Growth Forecast: What to Expect by 2025?
The size of the digital ray substation automation market has experienced marked growth in recent years. Projections suggest it will rise from $9.02 billion in 2024 to $9.62 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 6.6%. Factors fuelling this growth during the historic period encompass notable upticks in low latency requirements, escalating demand for competent and dependable power distribution networks, increasing necessity for real-time observation and control of power distribution systems, growing cybersecurity needs within power distribution systems, as well as a heightened requirement for automation within the oil and gas, mining, and transportation sectors.
How Will the Digital Ray Substation Automation Market Size Evolve and Grow by 2029?
In the upcoming years, the market size for digital ray substation automation is anticipated to witness robust growth, with a projection of reaching $12.52 billion in 2029 at a compounding annual growth rate (CAGR) of 6.8%. This growth forecast can be attributed to various factors including the continuous advancements in technology, increasing automation requirements in power utility and industrial operations, a rising demand for smart grid technology and integration of renewable energy, emphasis on cost reduction and product differentiation enhancement, and a heightened focus on data privacy and security. The forecast period also sees major trends featuring improvements in communication networks and technologies, advanced communication codes, developments in cloud computing, integration of renewable energy, technology advancements in digital twins, and progress in artificial intelligence and machine learning pertaining to substation automation.
View the full report here:
https://www.thebusinessresearchcompany.com/report/digital-ray-substation-automation-global-market-report
What Drivers Are Propelling the Growth of Digital Ray Substation Automation Market Forward?
The anticipated improvement in data privacy and protection is predicted to boost the expansion of the digital ray substation automation market. Data safety and privacy entail shielding critical data from unauthorized access, usage, or dissemination via safety measures like encryption and access regulation to counter threats such as cyberattacks and data leaks. Digital ray substation automation systems administer stringent access regulations to confine who can see or edit data inside the automation network, minimizing the potential for unauthorized access and data leaks. For example, in January 2024, an AAG IT Services report, a company based in the UK that offers IT support and digital transformation services to businesses, projected that 54% of UK firms will have undertaken measures to detect cybersecurity problems by December 2022, a growth from 52% in 2021. Thus, the enhancement in data privacy and security is catalyzing the digital ray substation automation market's growth.
Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=13838&type=smp
Which Emerging Trends Are Transforming the Digital Ray Substation Automation Market in 2025?
Leading enterprises in the digital ray substation automation sector are directing their efforts towards unveiling innovative tech solutions such as power automation platforms to increase their market earnings. Power automation platforms are fully integrated, sophisticated systems with cutting-edge digital process automation (DPA), robotic process automation (RPA), and process mining abilities. For example, in June 2023, Siemens Smart Infrastructure, a German firm offering a portfolio of grid control and automation, unveiled SICAM 8, an expansive power automation platform designed to accommodate future app integrations and help customers maintain reliable and safe grid operation. The platform is equipped with two novel software solutions namely, SICAM HMI (Human Machine Interface) and SICAM S8000. The SICAM HMI is a visualization device crafted to enhance process visualization, while SICAM S8000 is a software specifically designed for power automation. Its purpose is to promote the expansion of renewable energy sources, simplify the process of fusing these sources into existing grids, and speed up the substation setup process. All these factors collectively would contribute to the global initiative of achieving climate targets. Furthermore, SICAM 8 has been designed to meet the escalating cybersecurity needs by offering an all-encompassing cybersecurity solution inclusive of secure products, systems, and services.
What Are the Key Segments in the Digital Ray Substation Automation Market?
The digital ray substation automation market covered in this report is segmented -
1) By Components: Substation Automation System, Communication Network, Electrical System, Recloser Controller, Programmable Logical Controller, Capacitor Bank Controller, Digital Transducer Or Smart Meter, Load Tap Controller, Communication Channel, Other Components
2) By Communication Channel: Ethernet, Power Line Communication, Copper Wire Communication, Optical Fiber Communication
3) By Application: Utility, Steel, Mining, Oil And Gas, Transportation
Subsegments:
1) By Substation Automation System: SCADA Systems, Protection Systems, Control Systems
2) By Communication Network: Fiber Optic Communication, Wireless Communication, Ethernet Communication
3) By Electrical System: Circuit Breakers, Transformers, Switchgear
4) By Recloser Controller: Automated Reclosers, Manual Reclosers
5) By Programmable Logical Controller: Standard PLCs, Safety PLCs
6) By Capacitor Bank Controller: Automatic Controllers, Manual Controllers
7) By Digital Transducer Or Smart Meter: Smart Energy Meters, Smart Gas Meters
8) By Load Tap Controller: Automatic Load Tap Controllers, Manual Load Tap Controllers
9) By Communication Channel: Serial Communication, IP Communication
10) By Other Components: Monitoring Devices, Sensors, Human-Machine Interfaces (HMIs)
Tailor your insights and customize the full report here:
https://www.thebusinessresearchcompany.com/customise?id=13838&type=smp
Who Are the Key Players Shaping the Digital Ray Substation Automation Market's Competitive Landscape?
Major companies operating in the digital ray substation automation market report are General Electric Company, Hitachi Power Ltd., Siemens AG, Cisco Systems Inc., Mitsubishi Electric Corporation, Schneider Electric SE, Honeywell International Inc., ABB Limited, Toshiba Corporation, Larsen & Toubro Limited, Eaton Corporation Plc, Texas Instruments Incorporated, Emerson Electric Co., Rockwell Automation Inc., Belden Inc., Schweitzer Engineering Laboratories, Crompton Greaves Ltd., Powell Industries, Arteche Group, Open System International, Trilliant Holdings Inc., Novatech Inc., EFACEC Power Solutions SGPS S.A., Kalki Communication Technologies Private Limited, Verson Electric Pvt. Ltd.
What Geographic Markets Are Powering Growth in the Digital Ray Substation Automation Market?
North America was the largest region in the digital ray substation automation market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital ray substation automation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Purchase the full report:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=13838
"This Report Supports:
1.Business Leaders & Investors - To identify growth opportunities, assess risks, and guide strategic decisions.
2.Manufacturers & Suppliers - To understand market trends, customer demand, and competitive positioning.
3.Policy Makers & Regulators - To track industry developments and align regulatory frameworks.
4.Consultants & Analysts - To support market entry, expansion strategies, and client advisory work."
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Europe: +44 7882 955267,
Asia: +91 88972 63534,
Americas: +1 310-496-7795 or
Email: mailto:info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Digital Ray Substation Automation Market Poised to Hit $12.52 Billion by 2029 with Accelerating Growth Trends here
News-ID: 4121881 • Views: …
More Releases from The Business Research Company
Seed Treatment Fungicides Market to Grow at 9.3% CAGR, Reaching $3.15 Billion by …
Use ONLINE30 for 30% savings on global market reports and stay on top of tariff updates, market trends, and economic shifts worldwide.
Seed Treatment Fungicides Market Outlook: How is the Market Expected to Grow by 2025?
Over the past few years, the market for seed treatment fungicides has seen robust growth. Its market value is projected to rise from $2.07 billion in 2024 to $2.21 billion in 2025, signifying a compound annual…
Rheology Modifiers Market Growth to be Driven by Emerging Trends | $10.92 Billio …
Stay informed on tariff shifts, macro trends, and global economic changes-use code ONLINE30 to enjoy 30% off our global market reports.
What is the Projected Market Size of the Rheology Modifiers Industry?
There has been a consistent expansion in the size of the rheology modifiers market in the past few years. The market, which was worth $8.59 billion in 2024, is projected to increase to $8.89 billion in 2025, demonstrating a compound…
Polyurethane Foam Market to Record 8.4% CAGR Growth Through 2029 | Global Analys …
Use ONLINE30 for 30% savings on global market reports and stay on top of tariff updates, market trends, and economic shifts worldwide.
Polyurethane Foam Market Outlook: How is the Market Expected to Grow by 2025?
In recent years, the size of the polyurethane foam market has experienced substantial growth. It is projected to increase from a value of $54.27 billion in 2024 to $57.26 billion in 2025, indicating a compound annual growth…
Pharmaceutical Intermediates Market Size to Reach $46.04 Billion by 2029 | Growt …
Stay informed on tariff shifts, macro trends, and global economic changes-use code ONLINE30 to enjoy 30% off our global market reports.
What is the Projected Market Size of the Pharmaceutical Intermediates Industry?
There has been consistent growth in the market size of pharmaceutical intermediates over the past few years. The market is predicted to increase from a value of $33.37 billion in 2024, up to $34.95 billion in 2025, with a compound…
More Releases for Digital
Introducing Digital Sales Pro, Inc: Revolutionizing Digital Sales in the Digital …
Digital Sales Pro, Inc. is a company that helps content creators and publishers make money from content and reach a larger audience with their craft.
In today's world, it can be tough for content creators and publishers to make money and connect with their audience.
At, Digital Sales Pro, Inc. we understand these challenges and have created a suite of solutions that help our clients build a strong online presence, monetize…
Digital Twin in Healthcare Market Analysis By Type - Product Digital Twins, Proc …
Introduction
The healthcare industry has seen significant growth and development over the years, with technology playing a critical role in transforming patient care. One such innovative technology that has emerged in recent years is the Global Digital Twin in Healthcare Market. This technology allows healthcare professionals to create a virtual replica of a patient's physical self, enabling them to monitor and analyze patient data in real-time. The Global Digital Twin in…
Digital Twin in Healthcare Market Analysis By Type - Product Digital Twins, Proc …
In 2021, the market for Digital Twin in Healthcare worldwide was worth $6.75 billion US dollars. AMR Group projects that the market will reach US$ 96.5 billion by 2031, growing at a CAGR of 40 percent between 2022 and 2031.
Industry Overview
Digital twins are virtual copies of physical objects or things that data scientist & IT professionals can use to compute simulations prior to developing and deploying the original devices. Digital…
Digital Therapeutics Market, Digital Therapeutics Market Size, Digital Therapeut …
The global digital therapeutics market is expected to reach US$ 8,941.1 Mn by 2025 from US$ 1,993.2 Mn in 2017. The market is estimated to grow with a CAGR of 20.8% during the forecast period from 2018 to 2025.
North America is the largest geographic market and it is expected to be the largest revenue generator during the forecast period, whereas the market is expected to witness growth at a significant…
Digital Advertising on Mobil Market Analysis 2019 Top Growing Companies: Adverti …
Digital Advertising on Mobil Market
Digital Advertising on Mobile Market is a type of advertising that shows that mobile devices such as smart phones and tablets have wireless connectivity. For mobile devices with fewer lenses than computers or laptops, digital media formats are often the most suitable for small displays through outputs. Telephone advertising is the communication of products or services of mobile devices and consumers. Telephone announcements range from…
Digital Display Market Future Growth with Worldwide Players (Digital Virgo, Digi …
Digital Display Industry 2019 Global Market 2025 research report represents the historical overview of current Market situation, size, share, trends, growth, supply, outlook and manufacturers with detailed analysis. It also focuses on Digital Display volume and value at global level, regional level and company level. From a global perspective, this report represents overall Digital Display market size by analyzing historical data and future prospect.
Get Sample Copy of this Report -…
