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Digital substation market is expected to reach USD 10.59 billion by 2028 witnessing market growth at a rate of 6.50% in the forecast period of 2021 to 2028.
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Definition:
Digital substation is also referred for the term electrical substation. It is the location where intelligent electronic devices (IEDs) interconnected by communications networks or SCADA equipment are used. Computing technology is used for this digital substation. The advantage of substations is that, in terms of architecture, engineering, service, installation, they carry a broad range.
Key Growth Drivers:
Increasing need of high capital investment along with concerns regarding cyber-attacks which will likely to act as market restraints factor for the growth of the digital substation in the above mentioned projected timeframe. Lack of effective electrical infrastructure along with slow paced technological evolution across developing regions which will become the biggest and foremost challenge for the growth of the market.
The report emphasizes the participation of key entities, notably:
ABB; General Electric; Siemens; Eaton.; Schneider Electric; HONEYWELL INTERNATIONAL INC.; Cisco; Emerson Electric Co.; NR Electric Co., Ltd.; L&T Construction; Schweitzer Engineering Laboratories, Inc.; WELOTEC; TCS Digital; Tesco Automation Inc.; Locamation; SIFANG; Netcontrol Group; Prosoft-Systems" Ltd.; Fuji Electric Co., Ltd.; Tekvel; Efacec;
Report Scope:
- Analysis of market trends influencing the digital signage market growth.
- Examination of trends within key regional and country-level markets based on type, function, and application.
- Providing a comprehensive overview of the digital signage market.
- Evaluation of historical, current, and projected market sizes in terms of volume and value.
- Offering a neutral perspective on market performance.
- Essential information for market players seeking to maintain and expand their market presence.
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Key Market Segmentation
By Module (Hardware, Fiber-Optic Communication Networks, SCADA Systems), Type (Transmission Substation, Distribution Substation), Installation Type (New Installations, Retrofit Installations), Connectivity (< 33 kV, 33 kV to 110 kV, 110 kV to 220 kV, 220 kV to 550 kV, > 550 kV), Voltage Level (Low, Medium, High), Industry (Utility, Heavy Industries, Transportation, Others), Architecture (Process, Bay, Station)
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