Know the current Market Scenario of the Global Digital Substation Market by Manufacturers, Type and Application, Forecast to 2025
Global Digital Substation Market By Type (Distribution substation, Transmission substation), Module (Fiber optic communication network, Supervisory control and data acquisition, Hardware), Voltage (Up to 220 kV, 220 kV to 550 kV, Above 550 kV), Vertical,
(EMAILWIRE.COM, March 29, 2018 ) The Global Digital Substation Market was valued at USD 5.86 billion in 2016 and is projected to reach USD 11.67 billion by 2025, growing at a CAGR of 7.95% from 2017 to 2025.
Digital Substations is the combination of automation, digital analytics and monitoring capabilities embedded in power-systems management for power grids. Its applications include – overage power management, digital monitoring, substation digital transformers and more. It provides real-time power-grid management for faster and better capabilities. 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.
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Market Dynamics:
1. Market Drivers
1.1 Increasing demand for renewable energy projects in market
1.2 Rising demand for battery technology to generate electricity
1.3 Reduces maintenance costs and improved safety
1.4 Growing infrastructure development in smart cities
1.5 Growing demand to replace traditional substation infrastructure
1.6 Increasing power demand with limited space availability
2. Market Restraints
2.1 Controlling Cybersecurity risks
2.2 High initial investment cost
Market Segmentation:
The Global Digital Substation Market is segmented into type, module, voltage, vertical, and region.
Competitive Landscape:
The major players in the market are as follows:
1. General Electric
2. Siemens
3. Schneider Electric
4. Honeywell
5. ABB
6. Larsen & Toubro
7. Emerson
8. Cisco Systems
9. Eaton
10. NR Electric
11. Cadillac Automation and Controls
12. I-Tor
13. Yamal LNG
14. Tekvel
15. Igrid T&D
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
Research Methodology:
Research study on the Global Digital Substation Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
Download Sample PDF@ https://tinyurl.com/ya8q8lnn
Contact:
Mr.Mannan
sales@kminsights.com
+1 (888) 278-7681
About Us:
Key Market Insights is a stand-alone organization with a solid history of advancing and exchanging market research reports and logical surveys delivered by our numerous transnational accomplices, which incorporate both huge multinationals and smaller, more expert concerns.
Digital Substations is the combination of automation, digital analytics and monitoring capabilities embedded in power-systems management for power grids. Its applications include – overage power management, digital monitoring, substation digital transformers and more. It provides real-time power-grid management for faster and better capabilities. 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.
Download Sample PDF@ https://tinyurl.com/ya8q8lnn
Market Dynamics:
1. Market Drivers
1.1 Increasing demand for renewable energy projects in market
1.2 Rising demand for battery technology to generate electricity
1.3 Reduces maintenance costs and improved safety
1.4 Growing infrastructure development in smart cities
1.5 Growing demand to replace traditional substation infrastructure
1.6 Increasing power demand with limited space availability
2. Market Restraints
2.1 Controlling Cybersecurity risks
2.2 High initial investment cost
Market Segmentation:
The Global Digital Substation Market is segmented into type, module, voltage, vertical, and region.
Competitive Landscape:
The major players in the market are as follows:
1. General Electric
2. Siemens
3. Schneider Electric
4. Honeywell
5. ABB
6. Larsen & Toubro
7. Emerson
8. Cisco Systems
9. Eaton
10. NR Electric
11. Cadillac Automation and Controls
12. I-Tor
13. Yamal LNG
14. Tekvel
15. Igrid T&D
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
Research Methodology:
Research study on the Global Digital Substation Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
Download Sample PDF@ https://tinyurl.com/ya8q8lnn
Contact:
Mr.Mannan
sales@kminsights.com
+1 (888) 278-7681
About Us:
Key Market Insights is a stand-alone organization with a solid history of advancing and exchanging market research reports and logical surveys delivered by our numerous transnational accomplices, which incorporate both huge multinationals and smaller, more expert concerns.
Contact Information:
Key Market Insights
sambit kumar
Tel: 8007533694
Email us
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This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results
Key Market Insights
sambit kumar
Tel: 8007533694
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results