Market Highlights:
Digital substation is a combination of switchgear, transformers, substation automation, monitoring & diagnostics and the standard process bus process, and acts as the backbone of smart grids. They even provide real time phasor measurement data, increasingly, required to control the power flow and keep the grid stable, despite the rapidly increasing share of intermittent renewable energy sources. Aging power distribution network and expansion of the power distribution in developing nations, are expected to remain the key drivers for the Global Digital Substations Market during the forecast period.
Digital Substations enable electric power utilities to increase productivity, reduce footprint, increase functionality, improve the reliability of assets and, crucially improve safety for service personnel. Digital Substations exploit the benefits of digital protection, control and communication technologies, mirroring the trend towards digitalization seen in many other industries. This trend of digitalization also applies to other areas of the substation. Within medium-voltage switchgear panels, for example, the horizontal exchange of IEC 61850-8-1 GOOSE and sampled analog values reduce wiring and accelerate the testing and commissioning. Digitalized technology can, continuously, monitor mission-critical functions of power transformers and High-voltage switchgear, while performing real-time simulation and diagnostics, meaning pro-active management of the assets lifecycle is possible.
The global digital substation market is expected to grow at 7.5% CAGR during the forecast period.
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Key Players:
The key players of Global Digital Substation Market are ABB Ltd. (Switzerland), Siemens AG (Germany), General Electric Company (U.S.), Schneider Electric (France), Honeywell International Inc. (U.S.), Cisco Systems, Inc. (U.S.), Eaton Corporation plc (Ireland), Emerson Electric Co. (U.S.), NR Electric Co., Ltd. (China), Larsen & Toubro (India)
Scope of the Report:
This study provides an overview of the Global Digital Substation Market, tracking four market segments across four geographic regions. The scope of the study segments the Digital Substation market by its module, by type, by voltage, by industry and by region.
By Module
Digital substation is a combination of switchgear, transformers, substation automation, monitoring & diagnostics and the standard process bus process, and acts as the backbone of smart grids. They even provide real time phasor measurement data, increasingly, required to control the power flow and keep the grid stable, despite the rapidly increasing share of intermittent renewable energy sources. Aging power distribution network and expansion of the power distribution in developing nations, are expected to remain the key drivers for the Global Digital Substations Market during the forecast period.
Digital Substations enable electric power utilities to increase productivity, reduce footprint, increase functionality, improve the reliability of assets and, crucially improve safety for service personnel. Digital Substations exploit the benefits of digital protection, control and communication technologies, mirroring the trend towards digitalization seen in many other industries. This trend of digitalization also applies to other areas of the substation. Within medium-voltage switchgear panels, for example, the horizontal exchange of IEC 61850-8-1 GOOSE and sampled analog values reduce wiring and accelerate the testing and commissioning. Digitalized technology can, continuously, monitor mission-critical functions of power transformers and High-voltage switchgear, while performing real-time simulation and diagnostics, meaning pro-active management of the assets lifecycle is possible.
The global digital substation market is expected to grow at 7.5% CAGR during the forecast period.
A Sample of This Report is Available upon Request @ https://www.marketresearchfuture.com/sample_request/5363
Key Players:
The key players of Global Digital Substation Market are ABB Ltd. (Switzerland), Siemens AG (Germany), General Electric Company (U.S.), Schneider Electric (France), Honeywell International Inc. (U.S.), Cisco Systems, Inc. (U.S.), Eaton Corporation plc (Ireland), Emerson Electric Co. (U.S.), NR Electric Co., Ltd. (China), Larsen & Toubro (India)
Scope of the Report:
This study provides an overview of the Global Digital Substation Market, tracking four market segments across four geographic regions. The scope of the study segments the Digital Substation market by its module, by type, by voltage, by industry and by region.
By Module
- Hardware
- Fiber Optic Communication Network
- SCADA
- Transmission Substation
- Distribution Substation
- Up to 220 kV
- 220–550 kV
- Above 550 kV
- Utility
- Metal
- Mining
- Oil & Gas
- Transportation
- North America
- Asia Pacific
- Europe
- Rest of the World
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