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Utility Scale Low Voltage Digital Substation Market Size
- Report ID: GMI10515
- Published Date: Jul 2024
- Report Format: PDF
Utility Scale Low Voltage Digital Substation Market Size
Utility Scale Low Voltage Digital Substation Market was valued at USD 571.1 million in 2023 and is projected to witness about 7.8% CAGR from 2024 to 2032, driven by the increasing demand for reliable and efficient power distribution, the integration of renewable energy sources, and advancements in smart grid technologies. According to the U.S. Energy Information Administration, renewable energy sources are expected to account for 38% of U.S. electricity generation by 2030. Enhanced capabilities for remote monitoring and control, coupled with the need for improved cybersecurity measures, further propel market expansion.
Additionally, the push for predictive maintenance and reduced operational costs through advanced data analytics is fuelling the adoption of digital substations. The market benefits from ongoing investments in modernizing aging infrastructure and the development of microgrids to support energy resilience and sustainability.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Utility Scale Low Voltage Digital Substation Market Size in 2023: | USD 571.1 Million |
| Forecast Period: | 2024-2032 |
| Forecast Period 2024-2032 CAGR: | 7.8% |
| 2032 Value Projection: | USD 1.12 Billion |
| Historical Data for: | 2021-2023 |
| No. of Pages: | 110 |
| Tables, Charts & Figures: | 20 |
| Segments covered: | Component, Architecture, and Installation |
| Growth Drivers: |
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Frequently Asked Questions (FAQ) :
Utility Scale Low Voltage Digital Substation Market Scope
