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Digital Substation market is predicted to thrive at a CAGR of 7.55% over the period 2018-2024

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Knowledge Sourcing Intelligence announces the publication of a new report on “Digital Substation Market- Forecasts from 2019 to 2024″ to their offering.

This report provides forecast and analysis of the digital substation market which is estimated to surge at a CAGR of 7.55% over the period of 2018-2024.

Rising usage of smart technology, redevelopment of the older power infrastructure, construction of smart cities and favorable government initiatives, Such as “National Smart Grid Mission” in India, building varying voltage level substation in Qatar with help of Larsen & Turbo is going to increase the demand of digital substation in foreseeable years. The incorporation of intelligent electronic devices (IEDs) with a communication network is transforming the analogous system of a substation in the energy and power industry. The digital substation market is segmented by type, voltage, module, end-user, and geography. Geographically digital substation market is segmented as North America, South America, Europe, Middle East and Africa, and the Asia Pacific. North America accounted for a significant market share in 2018 owing to the higher adoption of the digital substation in the U.S. and Canada and the availability of cheaper digital substations in the region. APAC is projected to witness the significant CAGR during the forecast period on account of increasing investments in investments in the renewable sector, rapid industrialization, urbanization, expansion of power distribution network in countries like India, China, and Singapore. In addition, the rising cost of electricity, increasing the nature of power demand and favorable government initiatives are further driving demand for the digital substation in this region.

Some of the major players covered as part of the report are ABB Ltd., Siemens AG, Honeywell International Inc, Schneider Electric SE, Eaton Corporation, General Electric Company, and Larsen & Turbo Limited, among others.

This report segmented the digital substation market on the basis following terms:

• By Type
o Transmission Substation
o Distribution Substation

• By Voltage
o Up to 220KV
o 220-550KV
o Above 550KV

• By Module
o Hardware
o Fibre Optic
o SCADA

• By End-User
o Electric Utility
o Oil & Gas
o Mining
o Transportation
o Others

• By Geography

o North America
 United States
 Canada
 Mexico

o South America
 Brazil
 Argentina
 Others

o Europe
 Germany
 France
 UK
 Italy
 Others

o Middle East and Africa
 United Arab Emirates
 Israel
 Saudi Arabia
 Others

o Asia Pacific
 China
 Japan
 South Korea
 India
 Others

Purchase complete report or request sample: https://www.knowledge-sourcing.com/report/digital-substation-market
Knowledge Sourcing Intelligence (KSI) is a market research and consulting firm publishing research studies spanning across ten industry verticals. We have a combination of experienced and young professionals with a singular focus on delivering high-quality research services to enterprises, non-government organizations, government agencies, and research institutes and organizations. Driven by industry experts, the company provides syndicated reports, custom research, and consulting services. Our proprietary data analytics model blended with quality primary and secondary research data, assists in generating quality reports providing crucial insights to managers and decision-makers. The services offered by us help companies to gain the required competitive edge. Our expertise across 10 industries such as ICT, Chemicals, Semiconductors, Healthcare among others caters to diverse client needs.

Knowledge Sourcing Intelligence
539 W. Commerce St #2401
Dallas, TX 75208
Email: info@knowledge-sourcing.com
Phone: +1-850-250-1698

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