Digital Substation Market – Global Forecast to 2023 – Increasing Infrastructure Development in Smart Cities – Research and Markets

DUBLIN–(BUSINESS WIRE)–The "Digital
Substation Market by Module (Hardware, Fiber Optic Communication
Network, and SCADA), Type (Transmission and Distribution Substation),
Voltage (Up to 220 kV, 220-550 kV, and above 550 kV), Industry, and
Region – Global Forecast to 2023" report has been added to Research
and Markets' offering.

The digital substation market, in terms of value, is expected to grow
from USD 6.32 Billion in 2017 to USD 9.96 Billion by 2023, at a CAGR of
7.87% between 2017 and 2023

A digital substation enables an electric utility to monitor and control
the transmission and distribution of components installed in the
substation remotely. These substations use modernized technologies such
as dedicated software, and efficient two-way communication to control
power system devices. The major restraining factor for the digital
substation market is the high initial investment for setting up the
digital substation.

The voltage segment in the 220-550 kV range is estimated to hold the
largest share, growing at the highest CAGR between 2017 and 2023. The
digital substation market for 220-550 kV is expected to grow at the
highest CAGR due to its increasing demand from the power utility sector
as well as large industrial customers. Several companies such as Larsen
& Toubro (India) are awarded a power and distribution contract to build
a 220 kV substation in the Middle East for the utility application.

Asia Pacific (APAC) is one of the prospective markets for digital
substations. The digital substation market in APAC is expected to grow
at the highest CAGR between 2017 and 2023. The growth can be attributed
to the initiatives taken by the Government of India to improve its power
and energy sector, and the plans to build renewables with an energy
capacity of 175 GW by 2023.

Companies Mentioned

• ABB
• Cadillac Automation And Controls
• Cisco
• Eaton
• Emerson
• General Electric
• Honeywell
• Igrid T&D
• I-Tor
• Larsen & Toubro
• NR Electric
• Schneider Electric
• Siemens
• Tekvel
• Yamal Lng

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Industry Trends

7 Technological Overview

8 Digital Substation Market, By Module

9 Digital Substation Market, By Type

10 Digital Substation Market, By Voltage

11 Digital Substation Market, By Industry

12 Geographic Analysis

13 Competitive Landscape

14 Company Profiles

15 Appendix

For more information about this report visit https://www.researchandmarkets.com/research/t97pjl/digital

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