Product ID: UCMIG25E2022
Digital Substation Market Size, Share, Growth Analysis, By Component(Substation automation system, Communication network), By Architecture(Process, Bay), By Application(Transmission, Distribution), By Connectivity(< 33 kV, 33 kV to 110 kV), By Voltage Level(Low, Medium), By End-use(Utility, Industrial), By Installation(New, Refurbished), By regions(North America, Europe) - Industry Forecast 2024-2031
Report ID:
UCMIG25E2022 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
Digital Substation Market Insights
Market Overview:
The Digital Substation Market size surpassed USD 6.5 billion in 2021 and is expected to achieve a Compound Annual Growth Rate (CAGR) of over 7.3% from 2022 to 2028. The integration of sophisticated, secure, and adaptable technologies has resulted in the establishment of a sustainable industry platform. The rise in Research and Development (R&D) investments by digital substation solution providers to expand their system portfolios and incorporate a useful technological platform will improve product penetration.
Digital Substation Market, Forecast & Y-O-Y Growth Rate, 2020 - 2028
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This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Consumer Electronics by segment aggregation, the contribution of the Consumer Electronics in Consumer Durables & Apparel and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
Digital Substation Market Report Snapshots
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