According to Market Study Report, Digital Substation Market provides a comprehensive analysis of the Digital Substation Market segments, including their dynamics, size, growth, regulatory requirements, competitive landscape, and emerging opportunities of global industry.This report also provides market landscape and market share information in the Digital Substation Market.
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The Digital Substation Market is projected to reach USD 9.1 Billion by 2025 from USD 6.4 Billion in 2020; it is expected to grow at a CAGR of 7.1% during the forecast period.
Top Companies Profiled in the Digital Substation Market:
- ABB (Switzerland)
- General Electric Company (US)
- Siemens AG (Germany)
- Eaton Corporation Inc. (Ireland)
- Schneider Electric SE (France)
- Honeywell International Inc. (US)
- Cisco System (US)
- NR Electric (China)
- Emerson Electric Co. (US)
- Larsen & Toubro Limited (India)
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The leading companies have introduced several new installation projects in the digital substation market to boost the power flow, enhance electric reliability and the quality of supply, and upgrade the power infrastructure. Substations embedded with intelligent electronic devices (IEDs) have been designed in such a way that they comply with the IEC 61850 standard; this would help in the efficient transmission and distribution of power across various verticals such as industrial, residential, and commercial.