Digital Substation Market Segment, Driver, Analysis, Business Growth Drivers By 2030
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. Aging power distribution network and expansion of the power distribution in developing nations, are expected to remain the key drivers for the global market for digital substations during the forecast period. Digital Substations enable electric power utilities to increase productivity, reduce footprint, increase functionality, improve the reliability of assets and, crucially improve safety for service personnel. Digital Substations exploit the bene...