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North America Utility Scale Digital Substation Market Size
- Report ID: GMI11402
- Published Date: Sep 2024
- Report Format: PDF
North America Utility Scale Digital Substation Market Size
North America Utility Scale Digital Substation Market was valued at USD 900 million in 2023 and is likely to register 6% CAGR from 2024 to 2032, driven by the increasing demand for advanced grid infrastructure to support renewable energy integration and enhance grid reliability. In 2022, renewable energy sources such as wind and solar accounted for about 15% of electricity generation in the United States, while in Canada, they represented roughly 6.6% of the electricity generation mix.
The rise in smart grid technologies and the need for real-time data monitoring and control are also fuelling growth. Additionally, government initiatives and investments aimed at modernizing electrical grids to improve efficiency and reduce outages contribute to the market's positive outlook. Technological advancements in digital substation components and systems further support the market's expansion, ensuring greater performance and operational benefits.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| North America Utility Scale Digital Substation Market Size in 2023: | USD 900 Million |
| Forecast Period: | 2024 - 2032 |
| Forecast Period 2024 - 2032 CAGR: | 6% |
| 2032 Value Projection: | USD 1.6 billion |
| Historical Data for: | 2021 - 2023 |
| No. of Pages: | 60 |
| Tables, Charts & Figures: | 10 |
| Segments covered: | Component, Architecture, Voltage Level and Installation |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
North America Utility Scale Digital Substation Market Scope
