Growing Investment in Renewable Energy Drives Digital Substation Market Expansion

Digital Substation Market is expected to be valued at USD 9.5 Billion, with a CAGR of 7.5% Forecast by 2030.

Digital Substation Market Technology:

Digital substations are modern power substations that use digital technology to perform various functions such as power transformation, distribution, and protection. These substations utilize advanced digital sensors, communication systems, and control technologies to monitor and manage the flow of electricity through the power grid. Here are some of the key technologies that are commonly used in digital substations:

  1. IEC 61850: This is a communication protocol that enables digital devices to communicate with each other in a standardized way. It is used in digital substations to facilitate the exchange of data between various components of the power grid.

  2. Phasor Measurement Units (PMUs): These are advanced sensors that measure the voltage, current, and phase angle of electricity at different points in the power grid. PMUs provide real-time data that can be used to monitor and control the flow of electricity more efficiently.

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  1. Digital Protective Relays: These are digital devices that detect faults in the power grid and initiate protective actions to prevent damage to equipment and ensure the safety of personnel. They use advanced algorithms and communication technologies to provide fast and accurate protection.

  2. Ethernet Switches: These are networking devices that provide high-speed connectivity between different components of the power grid. They enable the transfer of large amounts of data between devices in real-time.

  3. Human-Machine Interfaces (HMIs): These are software applications that provide a graphical user interface (GUI) for operators to monitor and control the digital substation. HMIs provide real-time data visualization, alarms, and control functions.

Overall, the use of digital technology in substations provides many benefits, including increased reliability, efficiency, and flexibility in managing the power grid.

Digital Substation Market Highlights:

Digital Substation Market is expected to be valued at USD 9.5 Billion, with a CAGR of 7.5% Forecast by 2030.

Digital substation is a combination of switchgear, transformers, substation automation, monitoring diagnostics and the standard process bus process, and acts as the backbone of smart grids. They even provide real time phasor measurement data, increasingly, required to control the power flow and keep the grid stable, despite the rapidly increasing share of intermittent renewable energy sources.

Key Players:

The key players of global digital substation market are ABB Ltd. (Switzerland), Siemens AG (Germany), General Electric Company (U.S.), Schneider Electric (France), Honeywell International Inc. (U.S.), Cisco Systems, Inc. (U.S.), Eaton Corporation plc (Ireland), Emerson Electric Co. (U.S.), NR Electric Co., Ltd. (China) and Larsen Toubro (India).


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