Digital Substation Market by Module (Hardware, Fiber Optic Communication Network, and SCADA), Type (Transmission and Distribution Substation), Voltage (Up to 220 kV, 220550 kV, and above 550 kV), Industry, and Region - Global Forecast to 2023
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Benchmarking the rapid strategy shifts of the Top 100 companies in the Digital Substation Market
Request For Special PricingThe digital substation market to grow from USD 6.9 billion in 2018 to USD 10.0 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 7.9% during the forecast period. The major factors that are expected to be driving the digital substation market are increasing infrastructure development in smart cities, rise in power demand with limited space availability, increasing demand for replacing traditional substation infrastructure, and improved safety and reduced maintenance costs. The objective of the report is to define, describe, and forecast the digital substation market size based on module, type, voltage, and region.
Helped a leading vendor in the digital substation ecosystem to target opportunities worth ~USD 700 million in US Utility sector
Clients Problem Statement
A leading vendor in the digital substation ecosystem was keen to understand the competitive landscape, installed capacity, current and upcoming digital substation projects in the US. Moreover, the client was also looking forward to increasing its market share in the said country.
MnM Approach
The client engaged MnM to conduct a study with multiple objectives.
The detailed competitive landscape for North America (Especially for the US) along with the benchmarking of key vendors has been provided to the client.
Comprehensive list of current and upcoming digital substation projects in the targeted region has been provided, with their capacities and industry verticals
Market sizing, forecasting across various industry verticals such as utility, metal, mining, oil & gas and transportation has been provided.
Revenue Impact (RI)
This has helped the client to target opportunities worth ~USD 700 million in the said geography.
By module, the fiber optic communication network segment is expected to grow at the highest growth rate during the forecast period
Among the module segment, the fiber optic communication network is expected to grow at the highest CAGR during the forecast period. Fiber optic or optical fiber communication is the process of transmitting data by sending a pulse of light through an optical fiber. All the hardware in a substation are linked to each other by a fiber optic cable. This ensures communication of data among the modules making the digital substation system efficient and easy to control.
By type, the transmission substation holds a larger share of the market
Transmission substation segment is expected to hold a larger market share. A transmission substation uses transformers (step-up or step-down transformer) to convert between the voltages. It also uses the phase shifting transformers to control the power flow between two adjacent systems. Transmission substation can range from low to high voltages.
APAC is expected to grow at the highest growth rate during the forecast period
Asia Pacific (APAC) is the fastest growing region for the digital substation market, in terms of electricity consumption and rural electrification. The modernization of industrial applications in APAC is growing at a high rate since a few years, and the same trend is expected to continue in the future. The digital substation market in this region is expected to grow at the highest rate among all other regions due to rapid industrialization and upcoming power utilities. Digital substations provide cost-effective solutions, which help in meeting the rising demand for electricity in the countries such as China, India, and Singapore.
Various companies and governments are establishing partnerships to increase the use of renewable sources to decrease the carbon footprint and meet the electricity demand in this region. For instance, in August 2016, General Electric (US) partnered with Singapore Power to supply an innovative digital substation as part of the SP Centre of Excellences (CoE) Singapore Power Advanced Research & Development (SPEAR) program. The SPEAR program aims to drive the innovation and commercialization of next-generation energy network infrastructure. In addition to this, Singapore also announced the plan to raise the utilization of solar power to 350 Megawatt by 2020, representing 5% of the overall projected peak electricity demand
Market Dynamics
Driver: Increasing demand for replacing traditional substation infrastructure
The lifespan of a grid infrastructure is usually 40 to 50 years. After this period, the infrastructure would be affected by cosmetic breakdowns such as fraying wiring and loosening screws. Power outages in such grids are mainly caused by factors such as natural calamities including heat waves, hurricanes, snow, ice storms, tornados, and dust storms. For instance, the Great Blackout in North America in 2011, which resulted in closed schools, gridlocked traffic, and canceled flights. Aging grid infrastructure results in severe blackouts in the region. Power blackout and outages become more prevalent due to lack of upgrades in aged national grid substation infrastructure, which was designed 50 to 60 years ago. According to International Energy Agency (IEA), analysis from blackout events in the US shows that a 30 minute power cut has resulted in an average loss of USD 15,709 thousand for medium and large industry clients, and a loss of nearly USD 94,000 thousand for an eight-hour power interruption. There were multiple instances of power breakdown across the globe, which has resulted in huge monetary losses. Some of the recent power breakdown instances include the South Australian blackout on September 28, 2016, and the San Francisco, New York, and Los Angeles power grid failure in April 2017.
Due to the major failures of the substation and grid system in developed countries such as the US and the UK, the energy analyst from the American Society of Civil Engineers had mentioned that the US power transmission system has an urgent need to upgrade the aging and traditional substation infrastructure. The Central Electricity Authority (CEA) received a report of failures between April 01, 2013 and September 30, 2013. The datasheet reflected 16 failures in substation network or equipment, which occurred due to the traditional infrastructure of the substation. Hence, the need for uninterrupted and reliable power supply by replacing the traditional substation with digital substation is driving the growth of the digital substation market
Restraint: High initial investment
The initial investment for the digital substation is comparatively much higher than that for a traditional substation setup. This is mainly because of the use of technologies such as a greater number of intelligent electronic devices and high equipment purchase costs. Initially, traditional substations construction, installation, and engineering fees were comparatively higher; however, with the launch of the digital substation, all these costs of setting up a traditional substation dropped by 3.2% in 2016 from 6.2% in 2013.
According to the State Grid Beijing Economic and Technology Research Institute, the initial investment of smart substation with the same size and same level of building increased from 2.9% to 5.1% as compared to conventional substation. Hence, the higher costs of hardware and software modules in a digital substation are acting as one of the prime restraints in the market.
Opportunity: Growing demand for renewable energy projects in the market
There is a rapid development and increase in the number of renewable energy projects, such as solar and wind, across the globe, especially in China and India. One of the major factors driving the growth of renewable energy projects is the declining generation cost of the renewable energy sources. Moreover, concern over carbon-constrained future has also increased the focus of companies on renewable energy projects.
According to the International Energy Agency (IEA), located in France, the amount of global power generated from renewable sources would grow from 3% in 2009 to 38% by 2050. To increase renewable energy projects, governments and utilities are working hard to lower their dependency on fossil fuels, while improving their reach and reliability of their electricity networks. In China, 90% of the power generating companies are owned by the state, and the power transmission is completely taken care by the government. In 2005, the Government of China passed the Renewable Energy Law, which would target 20% of the primary energy consumption from renewable sources by 2020. Moreover, the law focusses on wind energy projects by revising the wind target from 30 gigawatts to 150 gigawatts for generating electricity.
Other than the companies in APAC, many companies worldwide are trying to come up with new renewable projects for electricity generation. These companies are also making investments in solar projects to meet the growing demand for electricity and minimize the environmental impacts.
Challenge: Controlling cyber security risks
The increasing cybersecurity threats in the power industry are due to the intrusion caused by virus attacks in all the intelligent electronic devices (IEDs). Cybersecurity provides protection against unauthorized access to equipment and helps in transferring or modifying data, especially for a wide area network (WAN).
Integration of software in the substation has increased the risk of cybersecurity threats. These cybersecurity threats are from numerous sources such as hostile governments, and terrorist groups. Currently, the power industry has encountered a new malware threat, such as stuxnet2 of flame, which specifically targets the industrial control systems.
For instance, in December 2015, a notorious incident occurred in Ukraine where the power was lost for six hours. This incident occurred because of an organized cyber-attack targeting the utilities. During this incident, three utility companies in Ukraine were hit by the BlackEnergy malware. The hackers targeted the utility firms SCADA system and remotely switched breakers to cut power after installing the malware. The attack could have been worse if the attackers had shut down power for wider areas, including the UK, Germany, and Norway. Thus, controlling cybersecurity risks is one of the major challenges in the digital substation market. However, in order to deal with cybersecurity risks it becomes necessary to add software and solution in line with the IEC 62443 standard. This standard is proven to be one of the most future- oriented security standards worldwide.
Scope of the Report
|
Report Metric |
Details |
|
Market size available for years |
20152023 |
|
Base year considered |
2016 |
|
Forecast period |
20172023 |
|
Forecast units |
Million (USD) |
|
Segments covered |
Module, Type, Voltage, Industry, and Region |
|
Geographies covered |
North America, Europe, APAC, RoW (South America, Middle East, and Africa) |
|
Companies covered |
ABB (Switzerland), Siemens (Germany), General Electric (US), Schneider Electric (France), Honeywell (US), Cisco (US), Eaton (Ireland), Emerson (US), NR Electric (China), Larsen & Turbo (India), TEKVEL (Russia), iGrid T&D (Spain), Yamal LNG (Russia), Cadillac Automation and Controls (India), i-TOR (Russia). |
The research report categorizes the digital substation market to forecast the revenues and analyze the trends in each of the following sub-segments:
Digital Substation Market, By Module
- Hardware
- Transformers
- Busbars
- Protection Devices
- Circuit Breakers
- Protective Relays
- Switchgears
- Interfacing Units
- Human-Machine Interfaces
- Remote Terminal Units
- Programmable Logic Controllers
- Others
- Fiber Optic Communication Network
- SCADA Systems
Digital Substation Market, By Type
- Transmission Substation
- Distribution Substation
Digital Substation Market, By Voltage
- Up To 220 KV
- 220-550 KV
- Above 550 KV
Digital Substation Market, By Industry
- Utility
- Non-Renewables
- Renewables
- Metal
- Mining
- Oil & Gas
- Transportation
Digital Substation Market, By Region
- North America
- Europe
- Asia Pacific (APAC)
- RoW
Key Market Players
ABB (Switzerland), Siemens (Germany), General Electric (US), Schneider Electric (France), Honeywell (US), Cisco (US), Eaton (Ireland), Emerson (US), NR Electric (China), Larsen & Turbo (India), TEKVEL (Russia), iGrid T&D (Spain), Yamal LNG (Russia), Cadillac Automation and Controls (India), i-TOR (Russia).
ABB (Switzerland) held the leading position in the digital substation market in 2016. ABB has been the leader in the digital substation market for a long time and has an extensive array of products and services that are used in digital substation. The company has a huge customer base with significant partnerships and collaborations. For instance, in October 2016, ABB Ltd. partnered with Microsoft Corporation (US) to drive digital industrial transformation across the globe. The company also launched a new solution in 2017, named ABB Ability, which extends digital capability and connects device to cloud. The company also focuses on strategic acquisitions. In July 2017, ABB Ltd. acquired KEYMILE GmbH (Germany) to strengthen its digital grid portfolio and software as well as extend its market reach in the industrial, transportation and infrastructure sectors.
Recent Developments
- In July 2017, ABB acquired KEYMILE GmbH. This acquisition strengthened the digital grid portfolio and software focus, as well as extended ABBs market reach in the industrial, transportation, and infrastructure sectors
- In July 2017, Siemens signed an agreement with AES Corporation. The agreement between the companies was signed to create a new global energy storage technology company named Fluence, which would enhance the power grid solution
- In April 2017, ABB established a contract with UK Grid Operator National Grid. This contract was established to provide key technology that would help interconnect the electricity networks of France and the UK
- In April 2017, GE signed a contract with National Grid Saudi Arabia. The contract was signed to strengthen the power infrastructure in the southern region of Saudi Arabia
Critical questions the report answers:
- Where will all these developments take the industry in the long term?
- What are the upcoming trends for the digital substation market?
- Which segment provides the most opportunity for growth?
- Who are the leading vendors operating in this market?
- What are the opportunities for new market entrants?
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
Table of Content
1 Introduction
1.1 Study Objectives
1.2 Definition
1.3 Scope of the Study
1.3.1 Markets Covered
1.3.2 Years Considered
1.4 Currency
1.5 Limitations
1.6 Stakeholders
2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Secondary Sources
2.1.2 Primary Data
2.1.2.1 Primary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Primaries
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Market Breakdown and Data Triangulation
2.4 Research Assumptions
3 Executive Summary
4 Premium Insights
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.2 Restraints
5.2.3 Opportunities
5.2.4 Challenges
6 Key Trends
6.1 Value Chain Analysis
6.2 Key Trend Analysis
7 Technological Overview: Digital Substation Market
7.1 Introduction
7.2 Digital Substation Architecture
7.2.1 Process Level
7.2.2 Protection and Control Level
7.2.3 Station Control Area
7.3 Conventional vs Digital Substation
7.4 Non-Conventional Instrument Transformer (NCIT)
7.4.1 Voltage Instrument Transformer
7.4.2 Current Instrument Transformer
7.5 Overview of International Standard Communication Protocols
7.5.1 IEC 61850
7.5.2 IEC 61850-8-1
7.5.3 IEC 61850-9-2
8 Digital Substation Market By Module
8.1 Introduction
8.2 Hardware
8.2.1 Transformers
8.2.2 Busbars
8.2.3 Protection Devices
8.2.3.1 Circuit Breakers
8.2.3.2 Protective Relays
8.2.3.3 Switchgears
8.2.4 Interfacing Units
8.2.4.1 HumanMachine Interfaces
8.2.4.2 Remote Terminal Units
8.2.4.3 Programmable Logic Controllers
8.2.4.4 Others
8.2.5 Fiber Optic Communication Network
8.2.6 SCADA Systems
9 Digital Substation Market By Type
9.1 Introduction
9.2 Transmission Substation
9.3 Distribution Substation
10 Digital Substation Market By Voltage Rating
10.1 Introduction
10.2 Up to 220 kV
10.3 220550 kV
10.4 Above 550 kV
11 Digital Substation Market By Industry
11.1 Introduction
11.2 Utility
11.2.1 Non-Renewables
11.2.2 Renewables
11.3 Metal
11.4 Mining
11.5 Oil & Gas
11.6 Transportation
12 Geographic Analysis: Digital Substation Market
12.1 Introduction
12.2 North America
12.2.1 US
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 UK
12.3.2 Germany
12.3.3 France
12.3.4 Netherlands
12.3.5 Italy
12.3.6 Spain
12.3.7 Belgium
12.3.8 Scandinavian Countries
12.3.9 Rest of Europe
12.4 Asia Pacific
12.4.1 China
12.4.2 India
12.4.3 Japan
12.4.4 South Korea
12.4.5 Australia
12.4.6 Indonesia
12.4.7 Malaysia
12.4.8 Rest of APAC
12.5 Rest of the World (RoW)
12.5.1 Middle East
12.5.1.1 UAE
12.5.1.2 KSA
12.5.1.3 Rest of Middle East
12.5.2 South America
12.5.2.1 Brazil
12.5.2.2 Argentina
12.5.2.3 Rest of South America
12.5.3 Africa
12.5.3.1 South Africa
12.5.3.2 Rest of South Africa
13 Competitive Landscape
13.1 Overview
13.2 Market Player Ranking Analysis
13.3 Competitive Scenario
13.3.1 Competitive Situation and Trend
13.3.2 Product Launches and Developments
13.3.3 Contracts, Partnerships & Collaborations
13.3.4 Others
14 Company Profiles
14.1 Introduction
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View)*
14.2 Key Players
14.2.1 ABB
14.2.2 Siemens
14.2.3 General Electric
14.2.4 Schneider Electric
14.2.5 Honeywell
14.2.6 Cisco
14.2.7 Eaton
14.2.8 Emerson
14.2.9 NR Electric
14.2.10 Larsen & Toubro
14.2.11 Schweitzer Engineering Laboratories, Inc.
14.3 Other Important Players
14.3.1 Belden Inc.
14.3.2 Larsen & Toubro Limited
14.3.3 Guodian Nanjing Automation Co., Ltd.
14.3.4 Locamation
14.3.5 Beijing Sifang Automation Co., Ltd.
14.3.6 Netcontrol Group
14.3.7 Open Systems International, Inc.
14.4 Start-up Ecosystem
14.4.1 Tekvel
14.4.2 Igrid T&D
14.4.3 Yamal LNG
14.4.4 Cadillac Automation and Controls
14.4.5 I-Tor
*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View Might Not Be Captured in Case of Unlisted Companies.
15 Appendix
15.1 Discussion Guide
15.2 Knowledge Store: MarketsandMarkets Subscription Portal
15.3 Available Customizations
15.4 Related Reports
15.5 Author Details
16 Appendix
List of Tables (108 Tables)
Table 1 Comparison Between Conventional and Digital Substation
Table 2 Digital Substation Market, By Module, 20142023 (USD Million)
Table 3 Market for Hardware, By Type, 20142023 (USD Million)
Table 4 Market, By Type, 20142023 (USD Million)
Table 5 Transmission Digital Substation Market, By Region, 20142023 (USD Million)
Table 6 Distribution Digital Substation Market, By Region, 20142023 (USD Million)
Table 7 Market, By Voltage, 20142023 (USD Million)
Table 8 Market, By Industry, 20142023 (USD Million)
Table 9 Market for Utility, By Region, 20142023 (USD Million)
Table 10 Market for Utility, By Non-Renewable Source, 20142023 (USD Million)
Table 11 Market for Utility, By Renewable Source, 20142023 (USD Million)
Table 12 Market for Metal, By Region, 20142023 (USD Million)
Table 13 Market for Mining, By Region, 20142023 (USD Million)
Table 14 Market for Oil & Gas, By Region, 20142023 (USD Million)
Table 15 Market for Transportation, By Region, 20142023 (USD Million)
Table 16 Market, By Region, 20142023 (USD Million)
Table 17 Noticeable Substation Projects Across Regions
Table 18 Digital Substations Market in North America, By Country, 20142023 (USD Million)
Table 19 Market in North America, By Module, 20142023 (USD Million)
Table 20 Market in North America, By Hardware, 20142023 (USD Million)
Table 21 Market in North America, By Type, 20142023 (USD Million)
Table 22 Market in North America, By Voltage, 20142023 (USD Million)
Table 23 Market in North America, By Industry, 20142023 (USD Million)
Table 24 Market in North America, By Utility, 20142023 (USD Million)
Table 25 Digital Substations Market in US, By Module, 20142023 (USD Million)
Table 26 Market in US, By Industry, 20142023 (USD Million)
Table 27 Market in Canada, By Module, 20142023 (USD Million)
Table 28 Digital Substations Market in Canada, By Industry, 20142023 (USD Million)
Table 29 Market in Mexico, By Module, 20142023 (USD Million)
Table 30 Digital Substations Market in Mexico, By Industry, 20142023 (USD Million)
Table 31 Market in Europe, By Country, 20142023 (USD Million)
Table 32 Digital Substations Market in Europe, By Module, 20142023 (USD Million)
Table 33 Market in Europe, By Hardware, 20142023 (USD Million)
Table 34 Market in Europe, By Type, 20142023 (USD Million)
Table 35 Market in Europe, By Voltage, 20142023 (USD Million)
Table 36 Market in Europe, By Industry, 20142023 (USD Million)
Table 37 Market in Europe, By Utility, 20142023 (USD Million)
Table 38 Market in UK, By Module, 20142023 (USD Million)
Table 39 Market in UK, By Industry, 20142023 (USD Million)
Table 40 Market in Germany, By Module, 20142023 (USD Million)
Table 41 Market in Germany, By Industry, 20142023 (USD Million)
Table 42 Market in France, By Module, 20142023 (USD Million)
Table 43 Market in France, By Industry, 20142023 (USD Million)
Table 44 Market in Netherlands, By Module, 20142023 (USD Million)
Table 45 Market in Netherlands, By Industry, 20142023 (USD Million)
Table 46 Market in Italy, By Module, 20142023 (USD Million)
Table 47 Market in Italy, By Industry, 20142023 (USD Million)
Table 48 Market in Spain, By Module, 20142023 (USD Million)
Table 49 Market in Spain, By Industry, 20142023 (USD Million)
Table 50 Market in Belgium, By Module, 20142023 (USD Million)
Table 51 Market in Belgium, By Industry, 20142023 (USD Million)
Table 52 Market in Scandinavian Countries, By Module, 20142023 (USD Million)
Table 53 Market in Scandinavian Countries, By Industry, 20142023 (USD Million)
Table 54 Market in Rest of Europe, By Module, 20142023 (USD Million)
Table 55 Market in Rest of Europe, By Industry, 20142023 (USD Million)
Table 56 Digital Substations Market in Europe, By Country, 20142023 (USD Million)
Table 57 Market in APAC, By Module, 20142023 (USD Million)
Table 58 Market in APAC, By Hardware, 20142023 (USD Million)
Table 59 Market in APAC, By Type, 20142023 (USD Million)
Table 60 Market in APAC, By Voltage, 20142023 (USD Million)
Table 61 Market in APAC, By Industry, 20142023 (USD Million)
Table 62 Market in APAC, By Utility, 20142023 (USD Million)
Table 63 Market in China, By Module, 20142023 (USD Million)
Table 64 Digital Substation Trends in China, By Industry, 20142023 (USD Million)
Table 65 Market in India, By Module, 20142023 (USD Million)
Table 66 Market in India, By Industry, 20142023 (USD Million)
Table 67 Digital Substations Market in Japan, By Module, 20142023 (USD Million)
Table 68 Market in Japan, By Industry, 20142023 (USD Million)
Table 69 Market in South Korea, By Module, 20142023 (USD Million)
Table 70 Market in South Korea, By Industry, 20142023 (USD Million)
Table 71 Market in Australia, By Module, 20142023 (USD Million)
Table 72 Market in Australia, By Module, 20142023 (USD Million)
Table 73 Market in Indonesia, By Industry, 20142023 (USD Million)
Table 74 Market in Indonesia, By Industry, 20142023 (USD Million)
Table 75 Market in Malaysia, By Module, 20142023 (USD Million)
Table 76 Market in Malaysia, By Industry, 20142023 (USD Million)
Table 77 Market in Rest of APAC, By Module, 20142023 (USD Million)
Table 78 Market in Rest of APAC, By Industry, 20142023 (USD Million)
Table 79 Digital Substations Market in RoW, By Country, 20142023 (USD Million)
Table 80 Market in RoW, By Module, 20142023 (USD Million)
Table 81 Market in RoW, By Hardware, 20142023 (USD Million)
Table 82 Market in RoW, By Type, 20142023 (USD Million)
Table 83 Digital Substations Market in RoW, By Voltage, 20142023 (USD Million)
Table 84 Market in RoW, By Industry, 20142023 (USD Million)
Table 85 Market in RoW, By Utility, 20142023 (USD Million)
Table 86 Digital Substation Market in Middle East, By Module, 20142023 (USD Million)
Table 87 Market in Middle East, By Industry, 20142023 (USD Million)
Table 88 Market in UAE, By Module, 20142023 (USD Million)
Table 89 Market in UAE, By Industry, 20142023 (USD Million)
Table 90 Market in KSA, By Module, 20142023 (USD Million)
Table 91 Market in KSA, By Industry, 20142023 (USD Million)
Table 92 Market in Rest of Middle East, By Module, 20142023 (USD Million)
Table 93 Market in Rest of Middle East, By Industry, 20142023 (USD Million)
Table 94 Market in Africa, By Module, 20142023 (USD Million)
Table 95 Digital Substations Market in Africa, By Industry, 20142023 (USD Million)
Table 96 Market in South Africa, By Module, 20142023 (USD Million)
Table 97 Market in South Africa, By Industry, 20142023 (USD Million)
Table 98 Market in Rest of Africa, By Module, 20142023 (USD Million)
Table 99 Market in Rest of Africa, By Industry, 20142023 (USD Million)
Table 100 Market in South America, By Module, 20142023 (USD Million)
Table 101 Market in South America, By Industry, 20142023 (USD Million)
Table 102 Market in Brazil, By Module, 20142023 (USD Million)
Table 103 Market in Brazil, By Industry, 20142023 (USD Million)
Table 104 Market in Argentina, By Module, 20142023 (USD Million)
Table 105 Market in Argentina, By Industry, 20142023 (USD Million)
Table 106 Market in Rest of South America, By Module, 20142023 (USD Million)
Table 107 Market in Rest of South America, By Industry, 20142023 (USD Million)
Table 108 Ranking of Top 5 Players in Market, 2018
List of Figures (39 Figures)
Figure 1 Digital Substation Market: Research Design
Figure 2 Market Size Estimation Methodology: Bottom-Up Approach
Figure 3 Market Size Estimation Methodology: Top-Down Approach
Figure 4 Data Triangulation
Figure 5 Market Expected to Grow Moderately During Forecast Period
Figure 6 Fiber Optic Communication Network Expected to Grow at Highest CAGR During Forecast Period
Figure 7 Digital Substation for Utility Industry Expected to Grow at Highest CAGR Between 2017 and 2023
Figure 8 Transmission Substation Likely to Grow at Higher CAGR in Market Between 2017 and 2023
Figure 9 Market for 220550 kV Voltage Range Expected to Grow at Highest CAGR During Forecast Period
Figure 10 Market in APAC Expected to Grow at Highest CAGR Between 2017 and 2023
Figure 11 Increase in Demand for Digital Substation in Utility Industry for Renewable Projects
Figure 12 APAC to Register Highest CAGR in Market for Transmission Substation During Forecast Period
Figure 13 Utility Industry and China to Hold Largest Share of Market in APAC in 2017
Figure 14 India Expected to Witness Highest CAGR During Forecast Period
Figure 15 Market Dynamics: Overview
Figure 16 Major Value is Added During Manufacturing & Transmission Phase
Figure 17 Digital Substation Architecture
Figure 18 Hardware Expected to Hold Largest Share of Market for Module During Forecast Period
Figure 19 Market for Transmission Substations Expected to Grow at Highest CAGR Between 2017 and 2023
Figure 20 Digital Substations With Voltage Range of 220550 kV Expected to Hold Largest Share During Forecast Period
Figure 21 Utility Expected to Hold Largest Share of Market During Forecast Period
Figure 22 Geographic Snapshot: Market in APAC Expected to Grow at Highest CAGR During Forecast Period
Figure 23 Digital Substation Market in India is Estimated to Grow at Highest CAGR Between 2017 and 2023
Figure 24 Ongoing and Planned Substation Project Between 2017 and 2025, By Regional Share
Figure 25 Existing Substation Project Until 2016, By Regional Share
Figure 26 Snapshot of Market in North America
Figure 27 Snapshot of Market in Europe
Figure 28 Snapshot of Market in Asia Pacific
Figure 29 Companies Adopted Product Launches as Key Growth Strategy
Figure 30 Market Evaluation Framework: Product Launches Fuelled Growth and Innovation Between 2015 and 2017
Figure 31 ABB: Company Snapshot
Figure 32 Siemens: Company Snapshot
Figure 33 General Electric: Company Snapshot
Figure 34 Schneider Electric: Company Snapshot
Figure 35 Honeywell: Company Snapshot
Figure 36 Cisco: Company Snapshot
Figure 37 Eaton: Company Snapshot
Figure 38 Emerson: Company Snapshot
Figure 39 Larsen & Toubro: Company Snapshot
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Growth opportunities and latent adjacency in Digital Substation Market
I am currently working in the area of Transmission and Distribution. I wish to explore the opportunities provided by Digital Substation in future.
We would like to confirm how much in detail we could obtain the information related to Digital Substation by country. At least, we would like to obtain by-country data including Vietnam, India, Indonesia, Thailand, Malaysia, Singapore, Phillipins, and Australia.
We would like to obtain the data pretting to the penetaration of digital substation (hopefully by capacity: 500kV, 220kV, 110kV, and by type: SAS and SCADA). Market size of digital substation, trends, and growth perspectives - Governmental policies/regulations to accelarate the implementation of digital substations.