Learn about the global digital substation market through The Business Research Company, which provides information on digital substation market size, digital substation market drivers and restraints, digital substation market players, the COVID-19 impact on the digital substation market, and more.

The global digital substation market size is expected to grow from $6.16 billion in 2021 to $6.85 billion in 2022 at a compound annual growth rate (CAGR) of 11.19%. The global digital substations market size is expected to grow to $10.47 billion in 2026 at a CAGR of 11.19%.

The increasing demand for electricity is expected to propel the growth of the digital substation market.

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The digital substation market consists of sales of digital substation by entities (organizations, sole traders, and partnerships) that 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 term digital substation refers to electrical substation in which operation is controlled by distributed intelligent electronic devices (IEDs) linked by the communication networks. It is possible by the use of computing technologies in the substation.

Global Digital Substation Market Segments Include:

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 and Mining, Oil and Gas, Transportation and Logistics, Defence and Aerospace, Process and Manufacturing, Others

By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Europe was the largest region in the digital substation market in 2021.

Strategic collaboration between companies is a key trend gaining popularity in the digital substation market. Companies that provide digital solutions are undergoing partnerships and collaborations to cope up with the digital transformation that is occurring at a rapid pace.

TBRC’s Digital Substation Market Report Covers:

Major Market Players: 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.

Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Time Series: Five years historic (2016-21) and ten years forecast (2022-2026-2031)

The Digital Substation Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides digital substation market overviews, analyzes and forecasts market size, share, digital substation market players, digital substation market segments and geographies, leading competitor revenues, profiles and market shares.

TBRC’s digital substation market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

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