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North America High Voltage Digital Substation Market Trends

Report ID: GMI11483
Published Date: Sep 2024
Report Format: PDF

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North America High Voltage Digital Substation Market Trends

The North America high-voltage digital substation industry is experiencing significant growth driven by grid modernization efforts and advanced technology integration. Utilities are adopting digital substations to enhance operational efficiency, improve reliability, and enable real-time monitoring. This shift from analog to digital systems facilitates better integration of renewable energy sources and improves voltage control. The U.S. Department of Energy reports that digital substations can reduce outage duration by up to 30%, highlighting their impact on grid reliability. Market transformation is further propelled by increased automation, advanced communication protocols, and IoT-enabled devices. Additionally, utilities are prioritizing robust cybersecurity measures to protect digital substations and strengthen overall grid security.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

North America high voltage digital substation market was valued at USD 191.6 million in 2023 and is expected to grow at a CAGR of 8.8% from 2024 to 2032, due to increasing demand for reliable power transmission, the need for enhanced grid efficiency, and government initiatives to upgrade infrastructure.

The utility segment is projected to surpass USD 230 million by 2032, driven by the increasing need for grid modernization and the adoption of digital technologies to improve operational efficiency and reliability.

The U.S. high voltage digital substation market is projected to exceed USD 345 million by 2032, driven by grid modernization demands and renewable energy integration.

Cisco, CG Power & Industrial Solutions, Eaton, Efacec, Emerson Electric, GE, Hitachi Energy, Igrid T&D, and NR Electric among others.