The global digital substation market is set to grow remarkably in the coming years backed by the ongoing technological advancements occurring in the field of electricity transmission and distribution. Fortune Business Insights™ published this information in an upcoming report, titled, “Digital Substation Market Size, Share & Industry Analysis, By Module (Hardware, Fibre Optic Communication Network, SCADA), By Type (Transmission, Distribution), By Voltage (Up to220kV, 220V-550kV, Above 550kV), By Industry (Utility, Oil & Gas, Transportation, Mining, Others) and Regional Forecast, 2019-2026.” The report further mentions that the utmost priority of the organizations in today’s world is to make their operations safe and secure. Additionally, cost-saving is another main factor that they are focusing on nowadays. These factors are likely to affect the market positively during the forecast period.
Highlights of This Reports
- An elaborate analysis of the digital substation market trends and growth drivers.
- Competitive landscape, such as new product launches, mergers and acquisitions, agreements, latest contracts, agreements, collaborations, and investments.
- Estimation of the market size, as well as data about the significant opportunities and challenges.
- A general overview of the industry structure.
Key Questions Answered:
• What are the key technological and trends shaping the market?
• What are the key opportunities in the market?
• What are the key companies operating in the market?
• Which company accounted for the highest market share?
• Why Choose Fortune Business Insights?
• What is the market size and growth rate of the global and regional market by various segments?
• What is the market size and growth rate of the market for selective countries?
• Which region or sub-segment is expected to drive the market in the forecast period?
• What Factors are estimated to drive and restrain the Market growth?
Fortune Business Insights™ profiles some of the most prominent companies operating in the digital substation market. They are as follows:
- Toshiba America Electronic Components, Inc.
- Mitsubishi Electric Display Solutions
- Helinks LLC
- Schneider Electric
- DNV GL
- Other key market players
Key Players Aim to Gain Competitive Edge Through Strategic Collaborations
The market consists of numerous big, small, and medium enterprises. They are persistently striving to gain the maximum digital substation market share by teaming up with the other renowned companies. Below are two of the most recent industry developments:
- September 2019: Siemens, a German multinational conglomerate company, joined hands with Gliitre Energi Nett, a Norwegian distribution system operator, to build a digital substation. It will be used to pilot the Internet of Things (IoT) applications and analytics for power grids. Siemens’ Siprotec dashboard cloud application, on the other hand, allows the users to get full access to the previously inaccessible data. At the same time, it aids in processing grid data with zero engineering effort in the cloud.
- September 2019: Bharat Heavy Electricals Limited, an Indian government-owned engineering and manufacturing company, signed an agreement for the ‘Digital Substation Collaborative R&D Project’ with Power Grid, an Indian state-owned Maharatna company. As per the agreement, the newly developed optical current transformers (OCTs) and intelligent electronic devices (IEDs) would be validated at the Advanced Research & Technology Centre of Power Grid. The trials will be carried out at the company’s Bhiwadi substation.
Rapid Adoption of Renewable Energy Sources to Favor Growth in Asia Pacific
The market is geographically fragmented into Latin America, Asia Pacific, Europe, the Middle East and Africa, and North America. Amongst these, Asia Pacific is set to exhibit significant growth owing to the rising demand for electricity from emerging countries. It is mainly occurring because of the ever-increasing population in this region. Apart from that, the rapid adoption of renewable energy sources and surging urbanization in this region is further resulting in the installation of new grids. In Europe, on the other hand, the masses are inclining towards renewable energy sources at a fast pace. It is set to propel the growth of the market in this region. Besides, in North America, the aging electrical infrastructure is being replaced by highly advanced ones. It would also boost the digital substation market revenue in this region.
- By Type
- By Application
- By Geography
The information used is derived from various primary and secondary sources. It also throws light on some of the major players operating in the market. The report studies profiles of these leading companies and their share in the market. It provides insights on some of the strategies adopted by these companies to survive the competition and maintain their stronghold.
- North America (The USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
Major Table of Content for Digital Substation Market:
- Executive Summary
- Market Dynamics
- Key Insights
- Global Market Analysis, Insights and Forecast, 2015-2026
- North America Market Analysis, Insights and Forecast, 2015-2026
- Europe Market Analysis, Insights and Forecast, 2015-2026
- Asia Pacific Market Analysis, Insights and Forecast, 2015-2026
- Middle East and Africa Market analysis, Insights and Forecast, 2015-2026
- Latin America Market Analysis, Insights and Forecast, 2015-2026
- Competitive Landscape
- Company Profile
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