According to Inkwood Research, it is estimated that the digital substation market will record with a CAGR of 6.09% during the forecast period, and will reach the revenue of $10606 Million by 2027. For the market study, the base year taken into account is 2018, and the forecasted period, 2019-2027. The operational efficiency, risk mitigation, and need for a steady energy supply have increased the demand for advanced management tools in the energy sector. The operational efficiency of energy sector companies is determined by their capability to make a steady supply of energy in a cost-effective manner. In order to increase operational efficiency, the companies in the energy sector rely largely upon the effective management of their available resources.

GLOBAL DIGITAL SUBSTATION MARKET FORECAST 2019-2027

Global Digital Substation Market by Module (Hardware (Transformers, Busbars) Protection Devices (Circuit Breakers, Protective Relay, Switchgear) Interfacing Units (Human–machine Interfaces, Remote Terminal Units, Programmable Logic Controllers) Fiber Optic Communication Network, Scada Systems) by Type (Transmission Substation, Distribution Substation) by Voltage (Up to 220 Kv, 220-550 Kv, Above 550 Kv) by Industry (Utility (Non-renewables, Renewables) Metal, Mining, Oil & Gas, Transportation) & by Geography

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According to Inkwood Research, it is estimated that the digital substation market will record with a CAGR of 6.09% during the forecast period, and will reach the revenue of $10606 Million by 2027. For the market study, the base year taken into account is 2018, and the forecasted period, 2019-2027.

The operational efficiency, risk mitigation, and need for a steady energy supply have increased the demand for advanced management tools in the energy sector. The operational efficiency of energy sector companies is determined by their capability to make a steady supply of energy in a cost-effective manner. In order to increase operational efficiency, the companies in the energy sector rely largely upon the effective management of their available resources. The effective utilization of resources involves the use of utility tools, including devices and software, that automatically regulate the available resource to meet the expected outcomes. Digital substation, with the use of real-time data and remote-control capabilities, provides greater flexibility and control over the electric network, thereby improving the overall efficiency of the network. According to the International Energy Agency, the electricity demand is anticipated to rise by 40% by the year 2040, as compared to 2016, with India and China expected to demand the majority of power generation. With the growing demand for electricity, the electric sector is set to witness a positive shift towards the adoption of digital substation motivated by the ability of digital substation to integrate a diverse set of distributed energy sources, long term cost savings, and automation capabilities.

The global digital substation market is driven by:

  • Increasing demand for power with limited space availability
  • Rising infrastructure development in smart cities
  • Improved safety and reduced maintenance costs
  • Rising demand for replacing traditional substation infrastructure

Digital Substation Market

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Rising in power demand with limited space availability is considered as one of the prime drivers for the growth of the global digital substation market. The rapid increase in the world population is expected to exponentially increase the demand for power and thereby, promoting the demand for power generation and thus, boosting the global market. With the rise in power consumption, countries need to adopt more efficient policies to meet the rising need for power consumption, which is expected to drive the demand for digital substations.

The global digital substation market has been segmented based on module, type, voltage, and industry. Module type has been further segmented into SCADA, fiber optical communication network, and hardware. Hardware is the dominating segment as of 2018. The increasing advancements in the hardware technologies, and surging upgradation of conventional substations into a digital substation, are fuelling the market growth. The integration of smart technologies in components of substations, has resulted in the introduction of GPS enabled monitoring systems that include phasor monitoring units, smart battery monitoring systems, smart power transformer monitoring systems, and smart power circuit breaker monitoring systems.

On the other hand, the global digital substation market growth is hindered by the high initial investment. High initial investment related to the adoption of the IEC 61850 is common for new technologies, including transitions to the organization, its system, and its processes. IEC (International Electrotechnical Commissions) is an international standard defining communication protocols for intelligent electronic devices at the electrical substations. Thus, the initial investment required for digital substation is expected to act as a restricting factor for market growth.

Report scope of global digital substation market covers segmentation analysis of type, consumer type, and distribution channel.

Market by Module:

  • Hardware
  • Transformers
  • Busbars
  • Protection Devices
    • Circuit Breakers
    • Protective relay
    • Switchgears
  • Interfacing Units
    • Human–Machine Interfaces
    • Remote Terminal Units
    • Programmable Logic Controllers
  • Fiber Optic Communication Network
  • SCADA Systems

Market by Type:

  • Transmission substation
  • Distribution substation

Market by Voltage:

  • 220-550 kV
  • Up to 220 kV
  • Above 550 kV

Market by Industry:

  • Utility
    • Non-renewables
    • Renewables
  • Oil & gas
  • Mining
  • Metal
  • Transportation

On the basis of geography, the global digital substation market has been segmented into four major regions:

With regard to geography, Asia Pacific is the largest market with a market share of 36.58% in terms of revenue in 2018. The Asia-Pacific digital substation market will be on an ever-increasing trend, due to the government investments in smart grid infrastructure, coupled with the efforts by the government for enhancing power capacity, and increasing demand for power.

The market has a number of players, and some of the major key players involved in global digital substation market are:

  • ABB GROUP
  • EMERSON ELECTRIC
  • EATON CORPORATION
  • GENERAL ELECTRIC COMPANY
  • CISCO
  • FUJI ELECTRIC

Key findings of the global digital substation market:

  • Hardware is the majorly used module for the digital substation.
  • Transmission substation is the largest type of digital substation.
  • 220–550 kV voltage digital substations are the fastest-growing substations among other voltage segments.
  • Transportation is rapidly adopting digital substation.
  1. RESEARCH SCOPE
    • STUDY GOALS
    • SCOPE OF THE MARKET STUDY
    • WHO WILL FIND THIS REPORT USEFUL?
    • STUDY AND FORECASTING YEARS
  2. RESEARCH METHODOLOGY
    • SOURCES OF DATA
      • SECONDARY DATA
      • PRIMARY DATA
    • TOP-DOWN APPROACH
    • BOTTOM-UP APPROACH
    • DATA TRIANGULATION
  3. EXECUTIVE SUMMARY
    • MARKET SUMMARY
    • KEY FINDINGS
      • HARDWARE IS THE MAJORLY USED MODULE FOR DIGITAL SUBSTATION
      • TRANSMISSION SUBSTATION IS THE LARGEST TYPE OF DIGITAL SUBSTATION
      • 220–550 kV VOLTAGE DIGITAL SUBSTATIONS ARE THE FASTEST-GROWING AMONG OTHER VOLTAGE SEGMENTS
      • TRANSPORTATION IS RAPIDLY ADOPTING DIGITAL SUBSTATION
  1. MARKET DYNAMICS
    • MARKET DEFINITION & SCOPE
    • MARKET DRIVERS
      • RISING POWER DEMAND WITH LIMITED SPACE AVAILABILITY
      • INCREASING INFRASTRUCTURE DEVELOPMENT IN SMART CITIES
      • IMPROVED SAFETY AND REDUCED MAINTENANCE COSTS
      • RISING DEMAND FOR REPLACING TRADITIONAL SUBSTATION INFRASTRUCTURE
    • MARKET RESTRAINTS
      • HIGH INITIAL INVESTMENT
    • MARKET OPPORTUNITIES
      • GROWING DEMAND FOR RENEWABLE ENERGY PROJECTS
      • RISING DEMAND FOR BATTERY TECHNOLOGY
      • TECHNOLOGICAL ADVANCEMENTS IN DIGITAL SUBSTATIONS
    • MARKET CHALLENGES
      • CONTROLLING CYBERSECURITY RISKS
  1. MARKET BY MODULE
    • HARDWARE
      • TRANSFORMERS
      • BUSBARS
      • PROTECTION DEVICES
        • CIRCUIT BREAKERS
        • PROTECTIVE RELAY
        • SWITCHGEAR
      • INTERFACING UNITS
        • HUMAN–MACHINE INTERFACES
        • REMOTE TERMINAL UNITS
        • PROGRAMMABLE LOGIC CONTROLLERS
      • FIBER OPTIC COMMUNICATION NETWORK
      • SCADA SYSTEMS
  1. MARKET BY TYPE
    • TRANSMISSION SUBSTATION
    • DISTRIBUTION SUBSTATION
  2. MARKET BY VOLTAGE
    • UP TO 220 KV
    • 220-550 KV
    • ABOVE 550 KV
  3. MARKET BY INDUSTRY
    • UTILITY
      • NON-RENEWABLES
      • RENEWABLES
    • METAL
    • MINING
    • OIL & GAS
    • TRANSPORTATION
  4. KEY ANALYTICS
    • PORTER’S FIVE FORCE MODEL
      • THREAT OF NEW ENTRANTS
      • THREAT OF SUBSTITUTE
      • BARGAINING POWER OF SUPPLIERS
      • BARGAINING POWER OF BUYERS
      • INTENSITY OF COMPETITIVE RIVALRY
    • KEY BUYING CRITERIA
    • VALUE CHAIN ANALYSIS
    • REGULATORY FRAMEWORK
    • OPPORTUNITY MATRIX
    • VENDOR LANDSCAPE
  5. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • UNITED STATES
      • CANADA
    • EUROPE
      • UNITED KINGDOM
      • GERMANY
      • FRANCE
      • ITALY
      • SPAIN
      • RUSSIA
      • REST OF EUROPE
    • ASIA PACIFIC
      • INDIA
      • CHINA
      • JAPAN
      • SOUTH KOREA
      • AUSTRALIA
      • REST OF ASIA PACIFIC
    • REST OF WORLD
      • LATIN AMERICA
      • MIDDLE EAST AND AFRICA
  1. COMPETITIVE LANDSCAPE
    • COMPANY PROFILES
      • ABB Group
      • CISCO
      • EATON CORPORATION
      • EMERSON ELECTRIC
      • FUJI ELECTRIC
      • GENERAL ELECTRIC COMPANY
      • HONEYWELL INTERNATIONAL INC
      • LARSEN & TOUBRO
      • IGRID T&D (ACQUIRED BY THYTRONIC GROUP)
      • SCHNEIDER ELECTRIC
      • SIEMENS AG
      • NR ELECTRIC CO., LTD.
      • I-TOR
      • S&C ELECTRIC COMPANY
      • TEKVEL

LIST OF TABLES

TABLE 1: GLOBAL DIGITAL SUBSTATION MARKET, BY GEOGRAPHY, 2019-2027 (IN $ MILLION)

TABLE 2: REGION-WISE POWER CONSUMPTION (IN TERAWATT-HOURS)

TABLE 3: GLOBAL DIGITAL SUBSTATION MARKET, BY MODULE, 2019-2027 (IN $ MILLION)

TABLE 4: GLOBAL HARDWARE MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 5: GLOBAL FIBER OPTIC COMMUNICATION NETWORK MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 6: GLOBAL SCADA SYSTEMS MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 7: GLOBAL DIGITAL SUBSTATION MARKET, BY TYPE, 2019-2027 (IN $ MILLION)

TABLE 8: GLOBAL TRANSMISSION SUBSTATION MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 9: GLOBAL DISTRIBUTION SUBSTATION MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 10: GLOBAL DIGITAL SUBSTATION MARKET, BY VOLTAGE, 2019-2027 (IN $ MILLION)

TABLE 11: GLOBAL DIGITAL SUBSTATION UP TO 220 KV MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 12: GLOBAL 220–550 KV DIGITAL SUBSTATION MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 13: GLOBAL ABOVE 550 KV DIGITAL SUBSTATION MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 14: GLOBAL DIGITAL SUBSTATION MARKET, BY INDUSTRY, 2019-2027 (IN $ MILLION)

TABLE 15: GLOBAL UTILITY MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 16: GLOBAL METAL MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 17: GLOBAL MINING MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 18: GLOBAL OIL & GAS MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 19: GLOBAL TRANSPORTATION MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 20: OPPORTUNITY MATRIX

TABLE 21: VENDOR LANDSCAPE

TABLE 22: GLOBAL DIGITAL SUBSTATION MARKET, BY GEOGRAPHY, 2019-2027 (IN $ MILLION)

TABLE 23: NORTH AMERICA DIGITAL SUBSTATION MARKET, BY COUNTRY, 2019-2027 (IN $ MILLION)

TABLE 24: EUROPE DIGITAL SUBSTATION MARKET, BY COUNTRY, 2019-2027 (IN $ MILLION)

TABLE 25: ASIA PACIFIC DIGITAL SUBSTATION MARKET, BY COUNTRY, 2019-2027 (IN $ MILLION)

TABLE 26: REST OF WORLD DIGITAL SUBSTATION MARKET, BY REGION, 2019-2027 (IN $ MILLION)

LIST OF FIGURES

FIGURE 1: GLOBAL DIGITAL SUBSTATION MARKET SHARE, BY INDUSTRY, 2018 & 2027 (%)

FIGURE 2: GLOBAL HARDWARE MARKET, 2019 – 2027 (IN $ MILLION)

FIGURE 3: GLOBAL TRANSMISSION SUBSTATION MARKET, 2019 – 2027 (IN $ MILLION)

FIGURE 4: GLOBAL 220–550 KV VOLTAGE DIGITAL SUBSTATIONS MARKET, 2019 – 2027 (IN $ MILLION)

FIGURE 5: GLOBAL TRANSPORTATION MARKET, 2019 – 2027 (IN $ MILLION)

FIGURE 6: GLOBAL DIGITAL SUBSTATION MARKET, BY HARDWARE, 2019-2027 (IN $ MILLION)

FIGURE 7: GLOBAL DIGITAL SUBSTATION HARDWARE MARKET, BY TRANSFORMERS, 2019-2027 (IN $ MILLION)

FIGURE 8: GLOBAL DIGITAL SUBSTATION HARDWARE MARKET, BY BUSBAR, 2019-2027 (IN $ MILLION)

FIGURE 9: GLOBAL DIGITAL SUBSTATION HARDWARE MARKET, BY PROTECTION DEVICES, 2019-2027 (IN $ MILLION)

FIGURE 10: GLOBAL DIGITAL SUBSTATION HARDWARE MARKET, BY CIRCUIT BREAKERS, 2019-2027 (IN $ MILLION)

FIGURE 11: GLOBAL DIGITAL SUBSTATION HARDWARE MARKET, BY PROTECTIVE RELAY, 2019-2027 (IN $ MILLION)

FIGURE 12: GLOBAL DIGITAL SUBSTATION HARDWARE MARKET, BY SWITCHGEARS, 2019-2027 (IN $ MILLION)

FIGURE 13: GLOBAL DIGITAL SUBSTATION HARDWARE MARKET, BY INTERFACING UNITS, 2019-2027 (IN $ MILLION)

FIGURE 14: GLOBAL DIGITAL SUBSTATION HARDWARE MARKET, BY HUMAN–MACHINE INTERFACES, 2019-2027 (IN $ MILLION)

FIGURE 15: GLOBAL DIGITAL SUBSTATION HARDWARE MARKET, BY REMOTE TERMINAL UNITS, 2019-2027 (IN $ MILLION)

FIGURE 16: GLOBAL DIGITAL SUBSTATION HARDWARE MARKET, BY PROGRAMMABLE LOGIC CONTROLLERS, 2019-2027 (IN $ MILLION)

FIGURE 17: GLOBAL DIGITAL SUBSTATION HARDWARE MARKET, BY FIBER OPTIC COMMUNICATION NETWORK, 2019-2027 (IN $ MILLION)

FIGURE 18: GLOBAL DIGITAL SUBSTATION HARDWARE MARKET, BY SCADA SYSTEMS, 2019-2027 (IN $ MILLION)

FIGURE 19: GLOBAL DIGITAL SUBSTATION MARKET, BY TRANSMISSION SUBSTATION, 2019-2027 (IN $ MILLION)

FIGURE 20: GLOBAL DIGITAL SUBSTATION MARKET, BY DISTRIBUTION SUBSTATION, 2019-2027 (IN $ MILLION)

FIGURE 21: GLOBAL DIGITAL SUBSTATION MARKET, BY UP TO 220 KV, 2019-2027 (IN $ MILLION)

FIGURE 22: GLOBAL DIGITAL SUBSTATION MARKET, BY 220–550 KV DIGITAL SUBSTATION, 2019-2027 (IN $ MILLION)

FIGURE 23: GLOBAL DIGITAL SUBSTATION MARKET, BY ABOVE 550 KV DIGITAL SUBSTATION, 2019-2027 (IN $ MILLION)

FIGURE 24: GLOBAL DIGITAL SUBSTATION MARKET, BY UTILITY, 2019-2027 (IN $ MILLION)

FIGURE 25: GLOBAL DIGITAL SUBSTATION UTILITY MARKET, BY NON-RENEWABLES, 2019-2027 (IN $ MILLION)

FIGURE 26: GLOBAL DIGITAL SUBSTATION UTILITY MARKET, BY RENEWABLES, 2019-2027 (IN $ MILLION)

FIGURE 27: GLOBAL DIGITAL SUBSTATION MARKET, BY METAL, 2019-2027 (IN $ MILLION)

FIGURE 28: GLOBAL DIGITAL SUBSTATION MARKET, BY MINING, 2019-2027 (IN $ MILLION)

FIGURE 29: GLOBAL DIGITAL SUBSTATION MARKET, BY OIL & GAS, 2019-2027 (IN $ MILLION)

FIGURE 30: GLOBAL DIGITAL SUBSTATION MARKET, BY TRANSPORTATION, 2019-2027 (IN $ MILLION)

FIGURE 31: PORTER’S FIVE FORCE MODEL

FIGURE 32: GLOBAL DIGITAL SUBSTATION MARKET, REGIONAL OUTLOOK, 2018 & 2027 (%)

FIGURE 33: UNITED STATES DIGITAL SUBSTATION MARKET, 2019-2027 (IN $ MILLION)

FIGURE 34: CANADA DIGITAL SUBSTATION MARKET, 2019-2027 (IN $ MILLION)

FIGURE 35: UNITED KINGDOM DIGITAL SUBSTATION MARKET, 2019-2027 (IN $ MILLION)

FIGURE 36: GERMANY DIGITAL SUBSTATION MARKET, 2019-2027 (IN $ MILLION)

FIGURE 37: FRANCE DIGITAL SUBSTATION MARKET, 2019-2027 (IN $ MILLION)

FIGURE 38: ITALY DIGITAL SUBSTATION MARKET, 2019-2027 (IN $ MILLION)

FIGURE 39: SPAIN DIGITAL SUBSTATION MARKET, 2019-2027 (IN $ MILLION)

FIGURE 40: RUSSIA DIGITAL SUBSTATION MARKET, 2019-2027 (IN $ MILLION)

FIGURE 41: REST OF EUROPE DIGITAL SUBSTATION MARKET, 2019-2027 (IN $ MILLION)

FIGURE 42: INDIA DIGITAL SUBSTATION MARKET, 2019-2027 (IN $ MILLION)

FIGURE 43: CHINA DIGITAL SUBSTATION MARKET, 2019-2027 (IN $ MILLION)

FIGURE 44: JAPAN DIGITAL SUBSTATION MARKET, 2019-2027 (IN $ MILLION)

FIGURE 45: SOUTH KOREA DIGITAL SUBSTATION MARKET, 2019-2027 (IN $ MILLION)

FIGURE 46: AUSTRALIA DIGITAL SUBSTATION MARKET, 2019-2027 (IN $ MILLION)

FIGURE 47: REST OF ASIA PACIFIC DIGITAL SUBSTATION MARKET, 2019-2027 (IN $ MILLION)

FIGURE 48: LATIN AMERICA DIGITAL SUBSTATION MARKET, 2019-2027 (IN $ MILLION)

FIGURE 49: MIDDLE EAST AND AFRICA DIGITAL SUBSTATION MARKET, 2019-2027 (IN $ MILLION)

  1. MARKET BY MODULE
    • HARDWARE
      • TRANSFORMERS
      • BUSBARS
      • PROTECTION DEVICES
        • CIRCUIT BREAKERS
        • PROTECTIVE RELAY
        • SWITCHGEAR
      • INTERFACING UNITS
        • HUMAN–MACHINE INTERFACES
        • REMOTE TERMINAL UNITS
        • PROGRAMMABLE LOGIC CONTROLLERS
      • FIBER OPTIC COMMUNICATION NETWORK
      • SCADA SYSTEMS
  1. MARKET BY TYPE
    • TRANSMISSION SUBSTATION
    • DISTRIBUTION SUBSTATION
  2. MARKET BY VOLTAGE
    • UP TO 220 KV
    • 220-550 KV
    • ABOVE 550 KV
  3. MARKET BY INDUSTRY
    • UTILITY
      • NON-RENEWABLES
      • RENEWABLES
    • METAL
    • MINING
    • OIL & GAS
    • TRANSPORTATION
  4. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • UNITED STATES
      • CANADA
    • EUROPE
      • UNITED KINGDOM
      • GERMANY
      • FRANCE
      • ITALY
      • SPAIN
      • RUSSIA
      • REST OF EUROPE
    • ASIA PACIFIC
      • INDIA
      • CHINA
      • JAPAN
      • SOUTH KOREA
      • AUSTRALIA
      • REST OF ASIA PACIFIC
    • REST OF WORLD
      • LATIN AMERICA
      • MIDDLE EAST AND AFRICA

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