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Digital Substation Market by Module, Type, Voltage, Installation Type, Industry | COVID-19 Impact Analysis | MarketsandM

[199 Pages] Digital Substation Market categrizes the Global market by Module (Hardware, Fiber-Optic Communication Networks, and Scada Systems), Type (Transmission and Distribution), and Region. COVID-19 Impact on Digital Substation Industry.

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Digital Substation Market by Module, Type, Voltage, Installation Type, Industry | COVID-19 Impact Analysis | MarketsandM

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  1. Market Leadership - Digital Substation Market The digital substation market is projected to reach USD 9.1 billion by 2025 from USD 6.4 billion in 2020; it is expected to grow at a CAGR of 7.1% from 2020 to 2025. The digital substation market in APAC is projected to grow at the highest CAGR during the forecast period. The modernization of industrial infrastructure in APAC is growing at a high rate for a few years, and the same trend is expected to continue in the future. Rapid industrialization, modernization of grid infrastructure, entry of many private companies in the power sector, increased spending by governments to boost the utility sector, and increasing number of power utilities are some of the key driving factor of the market. Digital substations provide cost-effective solutions, which help in meeting the rising demand for electricity in countries such as China, India, and Singapore. Key players in the digital substation market include ABB (Switzerland), General Electric Company (US), Siemens AG (Germany), Eaton Corporation Inc. (Ireland), Schneider Electric SE (France), Honeywell International Inc. (US), Cisco System (US), NR Electric (China), Emerson Electric Co. (US), and Larsen & Toubro Limited (India). Top 2 Players in Digital Substation Market: ABB (Switzerland) ABB focuses on new projects, partnerships, and expansions to maintain its global market presence. In September 2019, ABB signed a 5-year contract with Austrian Power Grid (APG), an Austria-based transmission system operator, to supply gas-insulated switchgears (GIS) during the largest electricity grid expansion in the country. Such long-term contracts help the company to grow and maintain good relations with customers. Request for Sample Report: https://www.marketsandmarkets.com/requestsampleNew.asp?id=43227003 The company has strong presence in Europe and generates ~36% of its revenue from this region. It should focus on other geographies, such as North America, the Middle East, and South America, for improved revenue generation. Additionally, the company could focus on developing innovative products for the digitization of substations, similar to its competitors. GE (US) GE focuses on both organic and inorganic growth strategies for expanding its power business. Product launches and developments, and expansions are the key growth strategies adopted by the company for maintaining its position in the digital substation market. In September 2019, GE’s Grid Solutions business invested USD 10 million to expand its range of sulfur hexafluoride (SF6)-free high-voltage substation equipment to include all key high- voltage levels by 2025. This is one of Grid Solution’s biggest portfolio investments in years that support customers in their efforts to reduce greenhouse gas emissions. GE could emphasize more on inorganic growth strategies, such as mergers & acquisitions, to target emerging and rapidly growing markets, such as India, China, and South Korea, in APAC. About MarketsandMarkets™ MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

  2. Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model –GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve. MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA: 1-888-600-6441

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