Global Digital Substation Market by Module, Type, Voltage, Installation Type, End User and Region: Global Opportunity Analysis and Industry Forecast, 2021-2030, report offers assembled trends and predictions to clients. The report delivers a comprehensive overview of the crucial elements of the market and elements such as drivers, current trends of the past and present times, supervisory scenario & technological growth. The report is an intensive investigation portraying the details and the new opportunity appraisal of the market.
The adoption of digital substation for producing renewable energy and presenting more desirable reliability, efficiency, and protection withinside the electricity distribution and emergence of automation & better trendy of connectivity are the elements that drive the global digital substation market. Better preliminary investments make it hard to update the conventional substations which prevent the virtual substation marketplace growth. Contrarily, elevated set up of the virtual substation in developing region’s vicinity paves approaches for destiny opportunities for the market growth.
Because of the technological advancement, the preliminary cost required for putting in place a digital substation is high. This is because of the accelerated quantity of intelligent electronic devices utilized in substations, which will increase the acquisition price of substations. The growing use of technology along with the microprocessor and service-orientated architecture technology, in addition to the upward thrust withinside the quantity of embedded IEDs in substations, have accelerated the acquisition prices of those substations which is the restraint expected to be faced by the market.
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Market Trends
- In February 2020, ABB’s substation received agreement through Enel Green Power to supply emission-free solar energy to Brazil’s 500 kilovolt (kV) transmission network from the São Gonçalo solar photovoltaic (PV) plant, the most important sun PV in South America, placed in Piauí, northeast of the country. This is the world’s first digital substation for the 500 kV alternating current rating.
- In January 2020, Siemens delivered a brand new line module for the Ruggedcom RST2228 and RST2228P Layer 2 19” rack switches, the Ruggedcom RMM2972-2RNA. This module reinforced the Ruggedcom RST2228 19” rack switch providing for electric powered strength utilities with the aid of using imparting seamless redundancy with PRP/HSR (Parallel Redundancy Protocol/High-availability Seamless Redundancy), better IEEE1588 implementation, high bandwidth uplinks, and traffic filtering and segmentation from a single device. This module gets rid of community downtime because of unmarried factors of fault, ensuing in excessive reliability and availability for present day digital substation programs as mandated with the aid of using the IEC 61850 standard.
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The market is analyzed based on regions and competitive landscape in each region is mentioned. Regions discussed in the study include North America (United States, Canada and Mexico), Europe (Germany, France, UK, Russia and Italy), Asia-Pacific (China, Japan, Korea, India and Southeast Asia), South America (Brazil, Argentina, Colombia), Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa). These insights help to devise strategies and create new opportunities to achieve exceptional results.
Key Market Players in Digital Substation Market
ABB, Texas Instruments, Locamation, Efacec, Tesco Automation, NetControl, Belden Inc, Emerson Electric, NR Electric, GE, Schneider, Eaton, Rockwell Automation, Siemens, L&T, Cisco, Open System International, Guodian Nanjing Automation Co and Beijing Sifang Automation Co.
Highlights of the study report
- A thorough assessment of the matrix of vendors as well as major firms would help in understanding the competitive scenario in the market
- Information on regulatory and investment scenarios for the market
- An analysis of the factors fueling the market growth along with their influence on the projection and dynamics of the Digital Substation Market
- A detailed roadmap presenting growth opportunities in the Digital Substation Market along with identification of key factors influencing the market growth
- A comprehensive assessment of the many trends prevailing in the Digital Substation market would help in identifying market developments
Key Segments
By Module
- Hardware
- Fiber-optic Communication Networks
- SCADA Systems
By Type
- Transmission
- Distribution
By Voltage
- Up to 220kV
- Up to 220kV
- 220-500kV
- Above 500kV
By Installation Type
- New Installations
- Retrofit Installations
By End User
- Utility
- Heavy Industries
- Transportation
- Others