Global digital ray substation automation market, By Component (Substation Automation System, Communication Network, Electrical System, Recloser Controller, Programmable Logical Controller, Capacitor Bank Controller, Digital Transducer/Smart Meter, Load Tap Controller, Communication Channel, Digital Relays, Protection Devices and Monitoring & Control System), Module (IEDS, Communication Network and SCADA System), Communication Channel (Ethernet, Power Line Communication, Copper Wire Communication and Optical Fiber Communication), Application (Utility, Steel, Mining, Oil and Gas and Transportation) – Industry Trends and Forecast to 2030.
Digital Ray Substation Automation Market Analysis and Size
Advancement in technology and development such as advanced SCADA and communication technologies is a driving factor for the global digital ray substation automation market. Emphasis on distribution and investment has resulted in securing accurate information, boost reliability, and better manage assets and information which is a driver for the growth of the global digital ray substation automation market. An increase in automation technologies is an opportunity for the global digital ray substation automation market.
Data Bridge Market Research analyses that the global digital ray substation automation market which was USD 7,652.35 million in 2022, is expected to reach USD 12,521.43 million by 2030, and is expected to undergo a CAGR of 9.0% during the forecast period. This indicates that the market value. “Substation Automation System” dominates the component segment of the global digital ray substation automation market owing to the high demand of this type in the market. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Digital Ray Substation Automation Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2014-2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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By Component (Substation Automation System, Communication Network, Electrical System, Recloser Controller, Programmable Logical Controller, Capacitor Bank Controller, Digital Transducer/Smart Meter, Load Tap Controller, Communication Channel, Digital Relays, Protection Devices and Monitoring & Control System), Module (IEDS, Communication Network and SCADA System), Communication Channel (Ethernet, Power Line Communication, Copper Wire Communication and Optical Fiber Communication), Application (Utility, Steel, Mining, Oil and Gas and Transportation)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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Siemens (Germany), Schneider Electric SE (France), Trilliant Holdings, Inc (Netherlands), Verson Electric Pvt. Ltd. (U.S.), Larsen & Toubro Limited (India), Cisco Systems, Inc., (U.S.), Crompton Greaves Ltd. (U.S.), ABB (U.K.), General Electric (U.S.), Eaton Corporation Plc. (U.K.), Belden Inc (France), Rockwell Automation (Netherlands), Texas Instruments Incorporated. (U.S.), Open System International (U.S.), Kalki Communication Technologies Private Limited (Japan), among others
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Market Opportunities
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Market Definition
Digital ray substation can be defined as electrical substations where the operation is managed between distributed intelligent electronic devices which are connected by a communication network. It is mainly a system with a collection of hardware and software which is used to control and monitor an electric system. The digital substation gives major benefits in terms of design and engineering, installation, and operation.
Global Digital Ray Substation Automation Market Dynamics
Drivers
- Significant Growth in Low Latency Requirement
With the rise of real-time applications like autonomous vehicles and industrial automation, there is growing need for low latency data analysis. Digital Ray Substation Automation enables the processing of data closer to the source, reducing the time it takes to make decisions.
- The Growing Technological Advancements
The development of technologically advanced automation solutions and the integration of the Industrial Internet of Things (IIoT) and cloud-computing, are acting as other growth-inducing factors. These solutions offer improved support and monitoring of remote sites, cloud-based tracking, smart event processing and administration of unmanned operations.
Opportunities
- The Increase in the Data Privacy and Security
Digital Ray Substation Automation helps organizations keep sensitive data on-premises, reducing the risk of data breaches and ensuring compliance with data privacy regulations. This is especially critical in industries like healthcare and finance.
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The Rising Automation Industry
The increasing adoption of the automation industry and various technological advancements associated with it has significantly contributed towards the growth of the global digital ray substation automation market. Advances in automation, robotics, and RFID technology enable improving accuracy and reducing operational costs.
Restraints/Challenges
- Rising Competition in the Market
The global digital ray substation automation market is highly competitive, with numerous companies offering a wide range of products. This can make it challenging for new entrants or smaller companies to gain market share and establish a strong presence.
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High Cost associated with Implementation
The cost of Digital Ray Substation Automation is very high in the market. Automotive systems and payers face cost pressures, and there is a growing demand for cost-effective solutions. Manufacturers need to balance the development of innovative implants with affordability to meet market demands.
This global digital ray substation automation market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global digital ray substation automation market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Development
- In September 2019, Siemens announced that with the help of Norwegian distribution system operator Glitre Energi Nett, they have built a digital substation to pilot Internet of things (IoT) analytics and applications for power grids. IoT-ready Siprotec protection and control and Sicam automation devices will be connected via OPC UA PubSub, an open standard communication protocol, to MindSphere – the Siemens cloud-based open operating system for IoT
Global Digital Ray Substation Automation Market Scope
The global digital ray substation automation market is segmented on the basis of components, module, communication channel and application. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Components
- Substation Automation System
- Communication Network
- Electrical System
- Recloser Controller
- Programmable Logical Controller
- Capacitor Bank Controller
- Digital Transducer/Smart Meter
- Load Tap Controller
- Communication Channel
- Digital Relays
- Protection Devices
- Monitoring & Control System
Module
- IEDS,
- Communication Network
- SCADA System
Communication Channel
- Ethernet
- Power Line Communication
- Copper Wire Communication
- Optical Fiber Communication
Application
- Utility
- Steel
- Mining
- Oil and Gas
- Transportation
Global Digital Ray Substation Automation Market Regional Analysis/Insights
The global digital ray substation automation market is analysed and market size insights and trends are provided by country, components, module, communication channel and application as referenced above.
The countries covered in the global digital ray substation automation market report are U.S., Canada and Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
North America dominates the global digital ray substation automation market because of the strong base of automotive facilities, strong presence of major players in the market.
Asia-Pacific is expected to witness significant growth in the global digital ray substation automation market during the forecast period of 2023 to 2030 due to the increase in government initiatives to promote awareness, rise in automotive facilities, growing research activities in the region, availability of massive untapped markets, large population pool.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Digital Ray Substation Automation Market Share Analysis
The global digital ray substation automation market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global digital ray substation automation market.
Some of the major players operating in the global digital ray substation automation market are:
- Siemens (Germany)
- Schneider Electric SE (France)
- Trilliant Holdings Inc (Netherlands)
- Verson Electric Pvt. Ltd. (U.S.)
- Larsen & Toubro Limited (India)
- Cisco Systems Inc. (U.S.)
- Crompton Greaves Ltd. (U.S.)
- ABB (U.K.)
- General Electric (U.S.)
- Eaton Corporation Plc. (U.K.)
- Belden Inc (France)
- Rockwell Automation (Netherlands)
- Texas Instruments Incorporated. (U.S.)
- Open System International (U.S.)
- Kalki Communication Technologies Private Limited (Japan)
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