Home > Energy & Power > Electrical Equipment > Substation > Digital Substation Market

Digital Substation Market Share

Report ID: GMI2441
Published Date: Oct 2023
Report Format: PDF

Download Free Sample

Digital Substation Market Share

The digital substation industry is highly competitive owing to the presence of key players such as:

Toshiba Energy Systems & Solutions Corporation
SIFANG
Cisco Systems Inc.
Eaton
Schneider Electric
GE
Hitachi Energy Ltd.
NR Electric Co. Ltd.
Texas Instruments Incorporated
Tesco Automation Inc.
Netcontrol Group
Efacec
Locamation
Siemens
ABB

Significant investments in R&D to gain technological competitiveness and aggressive business strategies including technological launches as well as collaborations and long-term agreements with clients to capture market share are positively impacting market growth.

Authors: Ankit Gupta, Riya Gupta

Frequently Asked Questions (FAQ) :

The market size of digital substation was worth USD 7.2 billion in 2022 and is set to depict over 7.2% CAGR between 2023 and 2032, attributed to the evolving technological landscape led by increasing R&D investments and efforts focused on improving existing product offerings.

The electrical system segment is poised to be worth over USD 4.5 billion by 2032, credited to consistent technological innovations and the burgeoning demand for smart and optimized electrical infrastructure.

The digital substation market share from the transmission segment is anticipated to grow at over 7% CAGR from 2023 to 2032, aided by the expanding smart energy infrastructure and development of existing transmission lines.

Europe digital substation market could grow at over 6.5% CAGR through 2032, attributed to the rising adoption of energy-efficient technologies and refurbishment of distribution and transmission infrastructure.