デジタル変電所市場規模、シェア、動向、2030年までの世界予測

デジタル変電所市場 – 変圧器、母線、遮断器、保護リレー、配電装置、インターフェースユニット、光ファイバー通信ネットワーク、SCADAシステム、送電変電所および配電変電所 – 2030年までの世界予測

世界のデジタル変電所市場は、予測期間中に6.5%のCAGRで成長し、2025年の144億1,000万米ドルから2030年には197億8,000万米ドルに達すると予測されています。

デジタル変電所市場は、従来の電力インフラからインテリジェントな自動化システムへの移行を牽引役として、着実に成長しています。公益事業会社や送電事業者は、運用信頼性の向上、資産の可視性向上、リアルタイムデータ分析による予知保全の実現を目指し、デジタル変電所への投資を拡大しています。太陽光や風力といった再生可能エネルギー源の送電網への統合により、変動する電力潮流を管理し、系統の安定性を維持できるデジタル変電所の導入が加速しています。センサー、保護リレー、SCADAシステムの進歩により、障害検出の迅速化、ダウンタイムの短縮、ネットワーク間の相互運用性の向上が実現しています。さらに、スマートグリッドと脱炭素化を推進する政府の取り組みにより、モジュール式でサイバーセキュリティを重視し、IoTに対応した変電所設計の導入機会が生まれています。デジタルツインやプロセスバス技術の発展に伴い、デジタル変電所市場は、効率的で持続可能かつインテリジェントな送電システムの未来を形作る上で重要な役割を果たすことが期待されています。

本レポートは、デジタル変電所市場をセグメント化し、モジュール、タイプ、設置タイプ、電圧、アーキテクチャタイプ、業界、地域別に市場規模を予測しています。また、市場の成長に影響を与える推進要因、制約要因、機会、課題についても包括的に分析しています。本レポートは、市場の定性的側面と定量的側面の両方を網羅しています。

本レポートは、デジタル変電所市場全体とそのセグメントの概算収益を提供することで、市場リーダーと新規参入企業を支援します。また、関係者が競争環境を理解し、市場ポジションを強化し、効果的な市場開拓戦略を策定するための洞察を得るのに役立ちます。さらに、本レポートは、主要な市場動向、市場制約、機会、課題など、主要な市場洞察を提供します。

本レポートでは、以下の点について洞察を提供しています。

主要な推進要因（スマートグリッドインフラの導入拡大、再生可能エネルギー源の統合拡大、高度な変電所自動化への需要増加）、制約要因（初期投資額の高さと導入の複雑さ、レガシーシステムとデジタルシステム間の相互運用性の限界）、機会（IEC 61850準拠の変電所の導入拡大、デジタルツインおよびAI/MLベースの予知保全ソリューションの導入拡大）、課題（コネクテッドグリッド環境におけるサイバーセキュリティの脆弱性、システム統合・保守のための熟練労働力の不足）の分析

• 製品開発／イノベーション：デジタル変電所市場における今後の技術、研究開発活動、新製品投入に関する詳細な洞察
• 市場開発：収益性の高い市場に関する包括的な情報 ― 本レポートでは、様々な地域におけるデジタル変電所市場を分析しています
• 市場多様化：デジタル変電所市場における新製品、未開拓地域、最近の開発状況、投資に関する包括的な情報
• 競合評価：日立エナジー（スイス）、シーメンスエナジー（ドイツ）、GE Vernova（米国）、ABB Ltd.（スイス）、シュナイダーエレクトリック（フランス）など、主要企業の市場シェア、成長戦略、製品ラインナップに関する詳細な評価

Report Description

The global digital substation market is projected to reach USD 19.78 billion by 2030, up from USD 14.41 billion in 2025, at a CAGR of 6.5% during the forecast period.

The digital substation market is growing steadily, driven by the shift from traditional power infrastructure to intelligent, automated systems. Utilities and transmission operators are increasingly investing in digital substations to boost operational reliability, enhance asset visibility, and enable predictive maintenance with real-time data analytics. The integration of renewable energy sources, especially solar and wind, into transmission networks is speeding up the deployment of digital substations that can manage variable power flows and maintain grid stability. Advances in sensors, protection relays, and SCADA systems are facilitating quicker fault detection, less downtime, and better interoperability across networks. Additionally, government initiatives promoting smart grids and decarbonization are opening opportunities for adopting modular, cybersecurity-focused, and IoT-enabled substation designs. As digital twin and process bus technologies develop, the digital substation market is expected to play a key role in shaping the future of efficient, sustainable, and intelligent power transmission systems.

“New installations to register the fastest growth in the installation type segment in the digital substation market.”

New installations are expected to show the fastest growth in the digital substation market during the forecast period. Utilities worldwide are prioritizing the replacement of aging grid infrastructure with advanced digital systems to enhance operational efficiency, grid reliability, and renewable energy integration. As nations modernize transmission and distribution networks, new digital substations equipped with intelligent electronic devices (IEDs), process bus systems, and SCADA platforms are being deployed to support real-time monitoring and remote operations. Governments and regulatory bodies are also promoting the deployment of new substations through smart grid development programs and renewable integration initiatives. In regions such as Asia Pacific and the Middle East, rapid urbanization and industrialization are driving demand for new high-voltage substations to support grid expansion and stability. With benefits like reduced maintenance, improved safety, and enhanced data-driven decision-making, new installations are expected to surpass retrofit projects and drive significant growth in the global digital substation market.

“Transformers segment to account for the largest share among hardware in the digital substation market.”

Transformers are expected to hold the largest share of the hardware segment in the digital substation market. As vital components of power transmission and distribution systems, transformers facilitate voltage conversion, manage power flow, and support efficient grid operation. The adoption of digital transformers equipped with sensors, monitoring systems, and communication interfaces is rapidly increasing as utilities shift toward real-time condition monitoring and predictive maintenance. These digital features improve grid reliability by detecting faults, optimizing load distribution, and minimizing downtime. Additionally, the integration of renewable energy sources like solar and wind has heightened the need for high-performance transformers capable of handling variable generation and bidirectional power flows. Technological innovations, such as digital twin modeling and fiber-optic current sensing, further enhance operational efficiency and lifecycle management. With ongoing grid modernization initiatives and rising demand for intelligent, cybersecure hardware, transformers are poised to maintain their dominant role within the digital substation hardware segment throughout the forecast period.

“Europe is expected to account for the second-largest market share in 2025.”

Europe is expected to hold the second-largest share of the digital substation market during the forecast period, driven by strong commitments to renewable energy integration, grid modernization, and decarbonization. The European Union’s emphasis on smart grid infrastructure, through initiatives like the Green Deal and REPowerEU, is speeding up the deployment of digital substations across transmission and distribution networks. Countries such as Germany, the UK, France, and the Nordics are actively investing in next-generation substation automation systems to support high renewable penetration and cross-border power exchange. Utilities in the region are also prioritizing cybersecurity and IEC 61850 compliance to ensure secure, interoperable grid communication. Additionally, the increasing replacement of aging substations and the expansion of offshore wind and interconnector projects are driving further demand. Supported by advanced technological ecosystems and leading OEMs such as Siemens Energy, ABB, and Schneider Electric, Europe continues to be a key contributor to innovation and adoption within the global digital substation landscape.

The break-up of the profile of primary participants in the digital substation market

• By Company Type: Tier 1 – 40%, Tier 2 – 30%, Tier 3 – 30%
• By Designation Type: Directors – 30%, Managers – 20%, Others – 50%
• By Region Type: Europe – 30%, North America – 20%, Asia Pacific – 40%, Rest of the World – 10%

Note: Other designations include sales, marketing, and product managers.

The three tiers of the companies are based on their total revenue as of 2024, Tier 1: >USD 1 billion, Tier 2: USD 500 million-1 billion, and Tier 3: USD 500 million

The major players in the digital substation market with a significant global presence include Hitachi Energy (Switzerland), Siemens Energy (Germany), GE Vernova (US), ABB Ltd. (Switzerland), Schneider Electric (France), and others.

Research Coverage

The report segments the digital substation market and forecasts its size by module, type, installation type, voltage, architecture type, industry, and region. It also provides a comprehensive review of drivers, restraints, opportunities, and challenges impacting market growth. The report covers both qualitative and quantitative aspects of the market.

Reasons to Buy the Report:

The report will assist market leaders and new entrants by providing approximate revenues for the overall digital substation market and its segments. It will help stakeholders understand the competitive landscape and gain insights to strengthen their market position and develop effective go-to-market strategies. Additionally, the report offers key market insights, including main drivers, restraints, opportunities, and challenges.

The report provides insights into the following pointers

• Analysis of key drivers (increasing adoption of smart grid infrastructure, rising integration of renewable energy sources, and growing demand for advanced substation automation), restraints (high initial investment and implementation complexity, and limited interoperability between legacy and digital systems), opportunities (expanding deployment of IEC 61850-compliant substations, and growing adoption of digital twins and AI/ML-based predictive maintenance solutions), and challenges (cybersecurity vulnerabilities in connected grid environments, and shortage of skilled workforce for system integration and maintenance)
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the digital substation market
• Market Development: Comprehensive information about lucrative markets – the report analyzes the digital substation market across varied regions
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the digital substation market
• Competitive Assessment: In-depth assessment of market shares, growth strategies, and product offerings of leading players, including Hitachi Energy (Switzerland), Siemens Energy (Germany), GE Vernova (US), ABB Ltd. (Switzerland), and Schneider Electric (France)

Table of Contents

1           INTRODUCTION           25

1.1        STUDY OBJECTIVES    25

1.2        MARKET DEFINITION   25

1.3        STUDY SCOPE  26

1.3.1     MARKETS COVERED AND REGIONAL SCOPE   26

1.3.2     INCLUSIONS AND EXCLUSIONS           27

1.3.2.1  Inclusions and exclusions: By company  27

1.3.2.2  Inclusions and exclusions: By Module    27

1.3.2.3  Inclusions and exclusions: By Type       27

1.3.2.4  Inclusions and exclusions: By Installation type   27

1.3.2.5  Inclusions and exclusions: By Architecture Type            28

1.3.2.6  Inclusions and exclusions: By Voltage    28

1.3.2.7  Inclusions and exclusions: By Industry   28

1.3.2.8  Inclusions and exclusions: By Region     28

1.3.3     YEARS CONSIDERED    29

1.4        CURRENCY CONSIDERED         29

1.5        UNIT CONSIDERED      29

1.6        LIMITATIONS   29

1.7        STAKEHOLDERS          29

1.8        SUMMARY OF CHANGES          30

2           RESEARCH METHODOLOGY     31

2.1        RESEARCH DATA         31

2.1.1     SECONDARY DATA      32

2.1.1.1  Major secondary sources           32

2.1.1.2  Key data from secondary sources          33

2.1.2     PRIMARY DATA            33

2.1.2.1  List of primary interview participants    33

2.1.2.2  Breakdown of primaries             34

2.1.2.3  Key industry insights     34

2.1.2.4  Key data from primary sources  35

2.1.3     SECONDARY AND PRIMARY RESEARCH           36

2.2        MARKET SIZE ESTIMATION     36

2.2.1     BOTTOM-UP APPROACH         37

2.2.1.1  Approach to estimate market size using bottom-up analysis             37

2.2.2     TOP-DOWN APPROACH           38

2.2.2.1  Approach to estimate market size using top-down analysis             38

2.3        FACTOR ANALYSIS      39

2.3.1     DEMAND-SIDE ANALYSIS        39

2.3.2     SUPPLY-SIDE ANALYSIS         40

2.4        MARKET GROWTH ASSUMPTIONS      40

2.5        DATA TRIANGULATION           41

2.6        RESEARCH ASSUMPTIONS       42

2.7        RISK ASSESSMENT      42

3           EXECUTIVE SUMMARY            44

4           PREMIUM INSIGHTS     49

4.1        ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN DIGITAL SUBSTATION MARKET          49

4.2        DIGITAL SUBSTATION MARKET, BY MODULE            50

4.3        DIGITAL SUBSTATION MARKET, BY TYPE      50

4.4        DIGITAL SUBSTATION MARKET, BY INSTALLATION TYPE    51

4.5        DIGITAL SUBSTATION MARKET, BY VOLTAGE            51

4.6        DIGITAL SUBSTATION MARKET IN ASIA PACIFIC, BY INDUSTRY AND COUNTRY       52

5           MARKET OVERVIEW    53

5.1        INTRODUCTION           53

5.2        MARKET DYNAMICS    54

5.2.1     DRIVERS           54

5.2.1.1  Emphasis on grid modernization             54

5.2.1.2  Growing adoption of renewable energy  55

5.2.1.3 Technological advancements in communication protocols, automation, and digital systems 55

5.2.1.4  Favorable government incentives and smart grid policies            56

5.2.2     RESTRAINTS    57

5.2.2.1  High initial investment costs      57

5.2.2.2  Integrating digital substations with existing legacy systems            58

5.2.2.3  Vulnerabilities to cyberattacks   58

5.2.3     OPPORTUNITIES          59

5.2.3.1  Rapid industrialization and modernization of urban infrastructure in emerging economies    59

5.2.3.2  Integration of AI & advanced analytics   60

5.2.3.3  Shift toward SF6-free and sustainable substations            60

5.2.4     CHALLENGES   61

5.2.4.1  Shortage of skilled workforce    61

5.2.4.2  Growing concern over data privacy        62

5.3        VALUE CHAIN ANALYSIS         63

5.4        ECOSYSTEM ANALYSIS           65

5.5        INVESTMENT AND FUNDING SCENARIO         65

5.6        TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS         66

5.7        TECHNOLOGY ANALYSIS         66

5.7.1     KEY TECHNOLOGIES   66

5.7.1.1  IEC 61850-based interoperability          66

5.7.1.2  Substation automation systems  67

5.7.2     COMPLEMENTARY TECHNOLOGIES    67

5.7.2.1  Advanced sensor integration      67

5.7.2.2  Cybersecurity frameworks         67

5.7.3     ADJACENT TECHNOLOGIES     68

5.7.3.1  AI and ML         68

5.7.3.2  Digital twin modeling     68

5.8        PRICING ANALYSIS      69

5.8.1     AVERAGE SELLING PRICE OF MODULES, BY KEY PLAYER, 2024   69

5.8.2     AVERAGE SELLING PRICE TREND OF MODULES, BY TYPE, 2023–2030          70

5.8.3     AVERAGE SELLING PRICE TREND OF PROTECTION RELAYS, BY REGION, 2023–2030          71

5.9        KEY STAKEHOLDERS AND BUYING CRITERIA            72

5.9.1     KEY STAKEHOLDERS IN BUYING PROCESS     72

5.9.2     BUYING CRITERIA        72

5.10      PORTER’S FIVE FORCES ANALYSIS     73

5.10.1   INTENSITY OF COMPETITIVE RIVALRY          75

5.10.2   BARGAINING POWER OF SUPPLIERS   75

5.10.3   BARGAINING POWER OF BUYERS        75

5.10.4   THREAT OF NEW ENTRANTS  75

5.10.5   THREAT OF SUBSTITUTES     76

5.11      CASE STUDY ANALYSIS           76

5.11.1   TEPCO AND HITACHI MODERNIZE 500 KV SUBSTATIONS TO ENHANCE FAULT DETECTION AND SYSTEM RESILIENCE   76

5.11.2   SP GROUP DEPLOYS FULLY DIGITAL SUBSTATIONS TO ACHIEVE TIER IV UPTIME AND STRENGTHEN CYBER-RESILIENT DATA CENTRE OPERATIONS         76

5.11.3   HYDRO-QUÉBEC MODERNIZES AGING SUBSTATIONS WITH IEC 61850 DIGITAL ARCHITECTURE TO IMPROVE RELIABILITY AND CUT WIRING COMPLEXITY 77

5.11.4   NATIONAL GRID VALIDATES DIGITAL SUBSTATION ARCHITECTURE TO ENABLE FUTURE GRID MODERNIZATION AND RENEWABLE INTEGRATION        77

5.11.5   STATNETT TESTS DIGITAL SUBSTATION DESIGNS TO ENHANCE RELIABILITY AND ENABLE REMOTE OPERATIONS    77

5.12      TRADE ANALYSIS        78

5.12.1   IMPORT SCENARIO (HS CODE 8504)    78

5.12.2   EXPORT SCENARIO (HS CODE 8504)    79

5.13      PATENT ANALYSIS      80

5.14      REGULATORY LANDSCAPE      82

5.14.1   REGULATORY BODIES, GOVERNMENT AGENCIES,

AND OTHER ORGANIZATIONS 82

5.14.2   STANDARDS AND REGULATIONS        84

5.15      KEY CONFERENCES AND EVENTS, 2025–2026            85

5.16      IMPACT OF AI/GENERATIVE AI ON DIGITAL SUBSTATION MARKET            85

5.17      IMPACT OF 2025 US TARIFF ON DIGITAL SUBSTATION MARKET            86

5.17.1   INTRODUCTION           86

5.17.2   KEY TARIFF RATES     87

5.17.3   PRICE IMPACT ANALYSIS        88

5.17.4   IMPACT ON COUNTRY/REGION           89

5.17.4.1             US        89

5.17.4.2             Europe  89

5.17.4.3             Asia Pacific       90

5.17.5   IMPACT ON INDUSTRIES         90

6           DIGITAL SUBSTATION MARKET, BY TYPE      91

6.1        INTRODUCTION           92

6.2        TRANSMISSION SUBSTATIONS            93

6.2.1     INCORPORATION OF EDGE COMPUTING AND AI-BASED ANALYTICS TO OFFER GROWTH OPPORTUNITIES            93

6.3        DISTRIBUTION SUBSTATIONS             94

6.3.1     ELECTRIFICATION OF TRANSPORT AND INDUSTRIAL SECTORS TO FUEL MARKET GROWTH            94

7           DIGITAL SUBSTATION MARKET, BY INSTALLATION TYPE    97

7.1        INTRODUCTION           98

7.2        NEW INSTALLATIONS  99

7.2.1     RAPID GRID EXPANSION TO DRIVE MARKET  99

7.3        RETROFIT        100

7.3.1     AGING POWER INFRASTRUCTURE TO FUEL MARKET GROWTH          100

8           DIGITAL SUBSTATION MARKET, BY INDUSTRY            101

8.1        INTRODUCTION           102

8.2        UTILITIES        103

8.2.1     GROWING POWER DEMAND FROM INDUSTRIALIZATION, ELECTRIFICATION, AND URBAN EXPANSION TO DRIVE MARKET          103

8.2.2     RENEWABLES  105

8.2.2.1  Solar     105

8.2.2.2  Wind     105

8.2.2.3  Hydropower      106

8.2.2.4  Other renewable sources           106

8.2.3     NON-RENEWABLES     106

8.2.3.1  Thermal/Coal    106

8.2.3.2  Gas       107

8.2.3.3  Other non-renewable sources   107

8.3        HEAVY INDUSTRIES     107

8.3.1     STEEL & METALS        108

8.3.2     CEMENT           108

8.3.3     CHEMICALS      109

8.4        TRANSPORTATION      109

8.4.1     RAILWAYS        110

8.4.2     METRO SERVICES        110

8.5        OTHER INDUSTRIES     110

9           DIGITAL SUBSTATION MARKET, BY MODULE            112

9.1        INTRODUCTION           113

9.2        HARDWARE      114

9.2.1     TRANSFORMERS          116

9.2.1.1  Growing integration of renewable energy and distributed generation to boost demand       116

9.2.2     BUSBARS         117

9.2.2.1  Minimized transmission losses to foster market growth            117

9.2.3     PROTECTION DEVICES            117

9.2.3.1  Circuit breakers            119

9.2.3.1.1            Increasing deployment of digitally monitored circuit breakers to offer growth opportunities    119

9.2.3.2  Protective relays           119

9.2.3.2.1            Enhanced grid resilience to foster market growth            119

9.2.3.3  Switchgears      120

9.2.3.3.1            Undergoing large-scale grid modernization to drive market     120

9.2.4     INTERFACING UNITS   121

9.2.4.1  Human-machine interfaces (HMIs)         121

9.2.4.1.1            Growing demand for dashboards with multi-touch capabilities to support market growth       121

9.2.4.2  Remote terminal units (RTUs)    122

9.2.4.2.1            Shift from traditional telemetry devices to core automation nodes to benefit market       122

9.2.4.3  Programmable logic controllers (PLCs)  122

9.2.4.3.1            Embedding AI-based logic execution to foster market growth   122

9.2.5     OTHER HARDWARE TYPES      123

9.3        FIBER-OPTIC COMMUNICATION NETWORKS  123

9.3.1     TRANSITION FROM COPPER AND SERIAL-BASED COMMUNICATION TO HYBRID OR FULLY FIBER-BASED NETWORKS TO DRIVE MARKET          123

9.4        SCADA SYSTEMS         124

9.4.1     TRANSITION TOWARD AUTONOMOUS DIGITAL GRID OPERATIONS TO FUEL MARKET GROWTH      124

10         DIGITAL SUBSTATION MARKET, BY VOLTAGE            126

10.1      INTRODUCTION           127

10.2      UP TO 220 KV  128

10.2.1   MODERNIZATION OF URBAN DISTRIBUTION INFRASTRUCTURE TO BOOST DEMAND         128

10.3      220–550 KV      128

10.3.1   ACCELERATED DEPLOYMENT OF UTILITY-SCALE RENEWABLE PROJECTS TO SUPPORT MARKET GROWTH            128

10.4      ABOVE 550 KV 129

10.4.1   SHIFT TOWARD CARBON NEUTRALITY TO DRIVE MARKET           129

11         DIGITAL SUBSTATION MARKET, BY REGION  130

11.1      INTRODUCTION           131

11.2      NORTH AMERICA         132

11.2.1   MACROECONOMIC OUTLOOK FOR NORTH AMERICA            137

11.2.2   US        138

11.2.2.1             Increasing investments in grid modernization to drive market     138

11.2.3   CANADA           139

11.2.3.1             Promotion of smarter and resilient electricity infrastructure to

drive market     139

11.2.4   MEXICO            140

11.2.4.1             Government-led initiatives to modernize power sector to

boost demand    140

11.3      EUROPE            141

11.3.1   MACROECONOMIC OUTLOOK FOR EUROPE     147

11.3.2   UK        147

11.3.2.1             Growing number of offshore wind projects to drive market     147

11.3.3   GERMANY        148

11.3.3.1             Adoption of digital control and protection systems to fuel market growth   148

11.3.4   FRANCE           149

11.3.4.1             Growing share of renewables in national energy mix to offer growth opportunities           149

11.3.5   ITALY   150

11.3.5.1             Government initiatives to promote energy transition to fuel market growth             150

11.3.6   SPAIN   151

11.3.6.1             Incorporation of edge computing and digital twin applications to offer growth opportunities          151

11.3.7   POLAND           152

11.3.7.1             Increasing focus on operational efficiency to drive market     152

11.3.8   NORDICS          153

11.3.8.1             Strong focus on hydro, wind, and offshore power integration to boost demand       153

11.3.9   REST OF EUROPE         154

11.4      ASIA PACIFIC   155

11.4.1   MACROECONOMIC OUTLOOK FOR ASIA PACIFIC            161

11.4.2   CHINA  161

11.4.2.1             Rapid urbanization and industrial growth to offer growth opportunities     161

11.4.3   JAPAN  162

11.4.3.1             Aging infrastructure modernization and smart energy transition to support market growth       162

11.4.4   SOUTH KOREA 163

11.4.4.1             Application of digital twin technologies and AI-based predictive analytics to drive market         163

11.4.5   INDIA    164

11.4.5.1             Rapid transmission network expansion to boost demand 164

11.4.6   AUSTRALIA      165

11.4.6.1             Growing renewable energy integration across remote and regional areas to fuel market growth           165

11.4.7   INDONESIA       166

11.4.7.1             Push for nationwide electrification to foster market growth   166

11.4.8   MALAYSIA        167

11.4.8.1             Rising electricity demand from data centers to fuel market growth        167

11.4.9   THAILAND        168

11.4.9.1             Focus on grid modernization and decarbonization to drive market 168

11.4.10  VIETNAM         169

11.4.10.1           Emphasis on digital transformation to support market growth   169

11.4.11  REST OF ASIA PACIFIC            170

11.5      ROW     171

11.5.1   MACROECONOMIC OUTLOOK FOR ROW          176

11.5.2   MIDDLE EAST  177

11.5.2.1             Increasing emphasis on industrial diversification and renewable energy development to boost demand     177

11.5.3   BAHRAIN          179

11.5.3.1             Rising power demand and distributed generation to foster market growth             179

11.5.4   KUWAIT           179

11.5.4.1             Growing investments in automation and smart grid capabilities to boost demand           179

11.5.5   OMAN   179

11.5.5.1             Emphasis on improving power reliability for mining, petrochemical, and metallurgical operations to drive market  179

11.5.6   QATAR 179

11.5.6.1             Infrastructure expansion and smart energy projects to strengthen market growth    179

11.5.7   SAUDI ARABIA 180

11.5.7.1             Focus on energy diversification and smart grid development to offer growth opportunities         180

11.5.8   UAE      180

11.5.8.1             Rapid digital grid transformation to drive market            180

11.5.9   REST OF MIDDLE EAST           180

11.5.10  AFRICA             180

11.5.10.1           South Africa      182

11.5.10.1.1        Ongoing reforms in power generation and transmission to boost demand    182

11.5.10.2           Rest of Africa    182

11.5.11  SOUTH AMERICA         182

11.5.11.1           Need to replace aging infrastructure and improve energy reliability for urban and industrial consumers to drive market     182

12         DIGITAL SUBSTATION ARCHITECTURE LANDSCAPE            184

12.1      INTRODUCTION           184

12.2      AIR-INSULATED SUBSTATIONS (AIS) 184

12.3      GAS-INSULATED SUBSTATIONS (GIS)            185

12.4      HYBRID SUBSTATIONS            185

13         COMPETITIVE LANDSCAPE     187

13.1      INTRODUCTION           187

13.2      KEY PLAYERS/RIGHT TO WIN, 2022–2025       187

13.3      MARKET SHARE ANALYSIS, 2024        188

13.4      COMPANY VALUATION AND FINANCIAL METRICS            189

13.5      BRAND/PRODUCT COMPARISON          190

13.6      REVENUE ANALYSIS OF FIVE KEY PLAYERS, 2020–2024     191

13.7      COMPANY EVALUATION MATRIX: KEY PLAYERS, 2024     192

13.7.1   STARS  192

13.7.2   EMERGING LEADERS   192

13.7.3   PERVASIVE PLAYERS   192

13.7.4   PARTICIPANTS            192

13.7.5   COMPANY FOOTPRINT: MARKET PLAYERS, 2024            194

13.7.5.1             Company footprint         194

13.7.5.2             Region footprint            195

13.7.5.3             Module footprint            196

13.7.5.4             Industry footprint          197

13.7.5.5             Type footprint   198

13.8      COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2024     199

13.8.1   PROGRESSIVE COMPANIES      199

13.8.2   RESPONSIVE COMPANIES        199

13.8.3   DYNAMIC COMPANIES 199

13.8.4   STARTING BLOCKS      199

13.8.5   COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2024     201

13.8.5.1             List of key startups/SMEs          201

13.8.5.2             Competitive benchmarking of key startups/SMEs            201

13.9      COMPETITIVE SCENARIO        202

13.9.1   PRODUCT LAUNCHES  202

13.9.2   DEALS  203

14         COMPANY PROFILES    205

14.1      INTRODUCTION           205

14.2      KEY PLAYERS  205

14.2.1   HITACHI, LTD. 205

14.2.1.1             Business overview        205

14.2.1.2             Products/Solutions/Services offered      207

14.2.1.3             Recent developments    209

14.2.1.3.1          Product launches           209

14.2.1.3.2          Deals    210

14.2.1.4             MnM view         211

14.2.1.4.1          Key strengths/Right to win        211

14.2.1.4.2          Strategic choices           211

14.2.1.4.3          Weaknesses/Competitive threats           211

14.2.2   SIEMENS ENERGY        212

14.2.2.1             Business overview        212

14.2.2.2             Products/Solutions/Services offered      213

14.2.2.3             Recent developments    215

14.2.2.3.1          Deals    215

14.2.2.4             MnM view         216

14.2.2.4.1          Key strengths/Right to win        216

14.2.2.4.2          Strategic choices           216

14.2.2.4.3          Weaknesses/Competitive threats           216

14.2.3   ABB      217

14.2.3.1             Business overview        217

14.2.3.2             Products/Solutions/Services offered      218

14.2.3.3             Recent developments    219

14.2.3.3.1          Deals    219

14.2.3.4             MnM view         219

14.2.3.4.1          Key strengths/Right to win        219

14.2.3.4.2          Strategic choices           220

14.2.3.4.3          Weaknesses/Competitive threats           220

14.2.4   SCHNEIDER ELECTRIC 221

14.2.4.1             Business overview        221

14.2.4.2             Products/Solutions/Services offered      222

14.2.4.3             Recent developments    224

14.2.4.3.1          Deals    224

14.2.4.4             MnM view         225

14.2.4.4.1          Key strengths/Right to win        225

14.2.4.4.2          Strategic choices           225

14.2.4.4.3          Weaknesses/Competitive threats           225

14.2.5   GE VERNOVA   226

14.2.5.1             Business overview        226

14.2.5.2             Products/Solutions/Services offered      227

14.2.5.3             Recent developments    229

14.2.5.4             MnM view         229

14.2.5.4.1          Key strengths/Right to win        229

14.2.5.4.2          Strategic choices           229

14.2.5.4.3          Weaknesses/Competitive threats           229

14.2.6   MITSUBISHI ELECTRIC CORPORATION            230

14.2.6.1             Business overview        230

14.2.6.2             Products/Solutions/Services offered      231

14.2.6.3             Recent developments    233

14.2.6.3.1          Deals    233

14.2.7   EATON 234

14.2.7.1             Business overview        234

14.2.7.2             Products/Solutions/Services offered      235

14.2.7.3             Recent developments    236

14.2.7.3.1          Deals    236

14.2.8   HONEYWELL INTERNATIONAL INC.    238

14.2.8.1             Business overview        238

14.2.8.2             Products/Solutions/Services offered      239

14.2.8.3             Recent developments    240

14.2.8.3.1          Deals    240

14.2.9   TOSHIBA CORPORATION         241

14.2.9.1             Business overview        241

14.2.9.2             Products/Solutions/Services offered      242

14.2.10  CISCO   243

14.2.10.1           Business overview        243

14.2.10.2           Products/Solutions/Services offered      245

14.3      OTHER PLAYERS          246

14.3.1   TGOOD GLOBAL LTD.  246

14.3.2   SCHWEITZER ENGINEERING LABORATORIES, INC.            247

14.3.3   LANNER ELECTRONICS           248

14.3.4   WELOTEC GMBH          249

14.3.5   HUAWEI TECHNOLOGIES CO., LTD.     250

14.3.6   LARSEN & TOUBRO LIMITED   251

14.3.7   ARTECHE         252

14.3.8   BELDEN INC.    253

14.3.9   HUBBELL INCORPORATED       254

14.3.10  IGRID T&D        255

14.3.11  EFACEC            256

14.3.12  SHANGHAI ELECTRIC GROUP CO., LTD.          257

14.3.13  NETCONTROL GROUP  258

14.3.14  WEG S.A.          259

14.3.15  SIFANG             260

15         APPENDIX        261

15.1      INSIGHTS FROM INDUSTRY EXPERTS 261

15.2      DISCUSSION GUIDE      261

15.3      KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL          265

15.4      CUSTOMIZATION OPTIONS      267

15.5      RELATED REPORTS     267

15.6      AUTHOR DETAILS        268

LIST OF TABLES

TABLE 1           DIGITAL SUBSTATION MARKET: GROWTH ASSUMPTIONS 40

TABLE 2           DIGITAL SUBSTATION MARKET: ROLE OF KEY PLAYERS IN

DIGITAL SUBSTATION ECOSYSTEM    64

TABLE 3           AVERAGE SELLING PRICE OF MODULES OFFERED BY KEY PLAYERS, 2024       69

TABLE 4           AVERAGE SELLING PRICE TREND OF MODULES, BY TYPE, 2023–2030          70

TABLE 5           AVERAGE SELLING PRICE TREND OF MODULES, BY REGION, 2023–2030       71

TABLE 6           INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS OF TOP THREE INDUSTRIES            72

TABLE 7           KEY BUYING CRITERIA FOR TOP THREE INDUSTRIES     73

TABLE 8           DIGITAL SUBSTATION MARKET: PORTER’S FIVE FORCES ANALYSIS          73

TABLE 9           IMPORT DATA FOR HS CODE 8504-COMPLIANT PRODUCTS, BY COUNTRY,

2020–2024 (USD MILLION)       78

TABLE 10         EXPORT DATA FOR HS CODE 8504- COMPLIANT PRODUCTS, BY COUNTRY,

2020–2024 (USD MILLION)       79

TABLE 11         LIST OF MAJOR PATENTS, 2022–2025 80

TABLE 12         NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES,

AND OTHER ORGANIZATIONS 82

TABLE 13         EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES,

AND OTHER ORGANIZATIONS 82

TABLE 14         ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES,

AND OTHER ORGANIZATIONS 83

TABLE 15         ROW: REGULATORY BODIES, GOVERNMENT AGENCIES,

AND OTHER ORGANIZATIONS 84

TABLE 16         DIGITAL SUBSTATION MARKET: KEY CONFERENCES AND EVENTS, 2025–2026        85

TABLE 17         US-ADJUSTED RECIPROCAL TARIFF RATES            87

TABLE 18         DIGITAL SUBSTATION MARKET, BY TYPE, 2021–2024 (USD MILLION)       92

TABLE 19         DIGITAL SUBSTATION MARKET, BY TYPE, 2025–2030 (USD MILLION)       92

TABLE 20         TRANSMISSION SUBSTATIONS: DIGITAL SUBSTATION MARKET, BY REGION,

2021–2024 (USD MILLION)       94

TABLE 21         TRANSMISSION SUBSTATIONS: DIGITAL SUBSTATION MARKET, BY REGION,

2025–2030 (USD MILLION)       94

TABLE 22         DISTRIBUTION SUBSTATION: DIGITAL SUBSTATION MARKET, BY REGION,

2021–2024 (USD MILLION)       95

TABLE 23         DISTRIBUTION SUBSTATION: DIGITAL SUBSTATION MARKET, BY REGION,

2025–2030 (USD MILLION)       96

TABLE 24         DIGITAL SUBSTATION MARKET, BY INSTALLATION TYPE,

2021–2024 (USD MILLION)       98

TABLE 25         DIGITAL SUBSTATION MARKET, BY INSTALLATION TYPE,

2025–2030 (USD MILLION)       98

TABLE 26         DIGITAL SUBSTATION MARKET, BY INDUSTRY, 2021–2024 (USD MILLION)             102

TABLE 27         DIGITAL SUBSTATION MARKET, BY INDUSTRY, 2025–2030 (USD MILLION)             103

TABLE 28         UTILITIES: DIGITAL SUBSTATION MARKET, BY REGION, 2021–2024 (USD MILLION)            104

TABLE 29         UTILITIES: DIGITAL SUBSTATION MARKET, BY REGION, 2025–2030 (USD MILLION)            104

TABLE 30         HEAVY INDUSTRIES: DIGITAL SUBSTATION MARKET, BY REGION,

2021–2024 (USD MILLION)       108

TABLE 31         HEAVY INDUSTRIES: DIGITAL SUBSTATION MARKET, BY REGION,

2025–2030 (USD MILLION)       108

TABLE 32         TRANSPORTATION: DIGITAL SUBSTATION MARKET, BY REGION,

2021–2024 (USD MILLION)       109

TABLE 33         TRANSPORTATION: DIGITAL SUBSTATION MARKET, BY REGION,

2025–2030 (USD MILLION)       110

TABLE 34         OTHER INDUSTRIES: DIGITAL SUBSTATION MARKET, BY REGION,

2021–2024 (USD MILLION)       111

TABLE 35         OTHER INDUSTRIES: DIGITAL SUBSTATION MARKET, BY REGION,

2025–2030 (USD MILLION)       111

TABLE 36         DIGITAL SUBSTATION MARKET, BY MODULE, 2021–2024 (USD MILLION)       113

TABLE 37         DIGITAL SUBSTATION MARKET, BY MODULE, 2025–2030 (USD MILLION)       113

TABLE 38         HARDWARE: DIGITAL SUBSTATION MARKET, BY TYPE, 2021–2024 (USD MILLION)   115

TABLE 39         HARDWARE: DIGITAL SUBSTATION MARKET, BY TYPE, 2025–2030 (USD MILLION)   115

TABLE 40         HARDWARE: DIGITAL SUBSTATION MARKET, BY REGION,

2021–2024 (USD MILLION)       116

TABLE 41         HARDWARE: DIGITAL SUBSTATION MARKET, BY REGION,

2025–2030 (USD MILLION)       116

TABLE 42         HARDWARE: DIGITAL SUBSTATION MARKET FOR PROTECTION DEVICES, BY TYPE, 2021–2024 (USD MILLION)          118

TABLE 43         HARDWARE: DIGITAL SUBSTATION MARKET FOR PROTECTION DEVICES, BY TYPE, 2025–2030 (USD MILLION)          118

TABLE 44         HARDWARE: DIGITAL SUBSTATION MARKET FOR PROTECTION DEVICES, BY TYPE, 2021–2024 (THOUSAND UNITS)     118

TABLE 45         HARDWARE: DIGITAL SUBSTATION MARKET FOR PROTECTION DEVICES, BY TYPE, 2025–2030 (THOUSAND UNITS)     119

TABLE 46         FIBER-OPTIC COMMUNICATION NETWORKS: DIGITAL SUBSTATION MARKET,

BY REGION, 2021–2024 (USD MILLION)            124

TABLE 47         FIBER-OPTIC COMMUNICATION NETWORKS: DIGITAL SUBSTATION MARKET,

BY REGION, 2025–2030 (USD MILLION)            124

TABLE 48         SCADA SYSTEMS: DIGITAL SUBSTATION MARKET, BY REGION,

2021–2024 (USD MILLION)       125

TABLE 49         SCADA SYSTEMS: DIGITAL SUBSTATION MARKET, BY REGION,

2025–2030 (USD MILLION)       125

TABLE 50         DIGITAL SUBSTATION MARKET, BY VOLTAGE, 2021–2024 (USD MILLION)  127

TABLE 51         DIGITAL SUBSTATION MARKET, BY VOLTAGE, 2025–2030 (USD MILLION)  127

TABLE 52         DIGITAL SUBSTATION MARKET, BY REGION, 2021–2024 (USD MILLION)       132

TABLE 53         DIGITAL SUBSTATION MARKET, BY REGION, 2025–2030 (USD MILLION)       132

TABLE 54         NORTH AMERICA: DIGITAL SUBSTATION MARKET, BY COUNTRY,

2021–2024 (USD MILLION)       133

TABLE 55         NORTH AMERICA: DIGITAL SUBSTATION MARKET, BY COUNTRY,

2025–2030 (USD MILLION)       133

TABLE 56         NORTH AMERICA: DIGITAL SUBSTATION MARKET, BY MODULE,

2021–2024 (USD MILLION)       134

TABLE 57         NORTH AMERICA: DIGITAL SUBSTATION MARKET, BY MODULE,

2025–2030 (USD MILLION)       134

TABLE 58         NORTH AMERICA: DIGITAL SUBSTATION MARKET, BY HARDWARE TYPE,

2021–2024 (USD MILLION)       134

TABLE 59         NORTH AMERICA: DIGITAL SUBSTATION MARKET, BY HARDWARE TYPE,

2025–2030 (USD MILLION)       135

TABLE 60         NORTH AMERICA: DIGITAL SUBSTATION MARKET FOR HARDWARE PROTECTION DEVICES, BY TYPE, 2021–2024 (USD MILLION)       135

TABLE 61         NORTH AMERICA: DIGITAL SUBSTATION MARKET FOR HARDWARE PROTECTION DEVICES, BY TYPE, 2025–2030 (USD MILLION)       135

TABLE 62         NORTH AMERICA: DIGITAL SUBSTATION MARKET, BY TYPE,

2021–2024 (USD MILLION)       135

TABLE 63         NORTH AMERICA: DIGITAL SUBSTATION MARKET, BY TYPE,

2025–2030 (USD MILLION)       136

TABLE 64         NORTH AMERICA: DIGITAL SUBSTATION MARKET, BY VOLTAGE,

2021–2024 (USD MILLION)       136

TABLE 65         NORTH AMERICA: DIGITAL SUBSTATION MARKET, BY VOLTAGE,

2025–2030 (USD MILLION)       136

TABLE 66         NORTH AMERICA: DIGITAL SUBSTATION MARKET, BY INDUSTRY,

2021–2024 (USD MILLION)       136

TABLE 67         NORTH AMERICA: DIGITAL SUBSTATION MARKET, BY INDUSTRY,

2025–2030 (USD MILLION)       137

TABLE 68         NORTH AMERICA: DIGITAL SUBSTATION MARKET, BY UTILITY TYPE,

2021–2024 (USD MILLION)       137

TABLE 69         NORTH AMERICA: DIGITAL SUBSTATION MARKET, BY UTILITY TYPE,

2025–2030 (USD MILLION)       137

TABLE 70         US: DIGITAL SUBSTATION MARKET, BY INDUSTRY, 2021–2024 (USD MILLION)             139

TABLE 71         US: DIGITAL SUBSTATION MARKET, BY INDUSTRY, 2025–2030 (USD MILLION)             139

TABLE 72         CANADA: DIGITAL SUBSTATION MARKET, BY INDUSTRY,

2021–2024 (USD MILLION)       140

TABLE 73         CANADA: DIGITAL SUBSTATION MARKET, BY INDUSTRY,

2025–2030 (USD MILLION)       140

TABLE 74         MEXICO: DIGITAL SUBSTATION MARKET, BY INDUSTRY,

2021–2024 (USD MILLION)       141

TABLE 75         MEXICO: DIGITAL SUBSTATION MARKET, BY INDUSTRY,

2025–2030 (USD MILLION)       141

TABLE 76         EUROPE: DIGITAL SUBSTATION MARKET, BY COUNTRY, 2021–2024 (USD MILLION) 142

TABLE 77         EUROPE: DIGITAL SUBSTATION MARKET, BY COUNTRY, 2025–2030 (USD MILLION) 143

TABLE 78         EUROPE: DIGITAL SUBSTATION MARKET, BY MODULE, 2021–2024 (USD MILLION)   143

TABLE 79         EUROPE: DIGITAL SUBSTATION MARKET, BY MODULE, 2025–2030 (USD MILLION)   143

TABLE 80         EUROPE: DIGITAL SUBSTATION MARKET, BY HARDWARE TYPE,

2021–2024 (USD MILLION)       144

TABLE 81         EUROPE: DIGITAL SUBSTATION MARKET, BY HARDWARE TYPE,

2025–2030 (USD MILLION)       144

TABLE 82         EUROPE: DIGITAL SUBSTATION MARKET FOR HARDWARE PROTECTION DEVICES, BY TYPE, 2021–2024 (USD MILLION) 144

TABLE 83         EUROPE: HARDWARE: DIGITAL SUBSTATION MARKET FOR HARDWARE PROTECTION DEVICES, BY TYPE, 2025–2030 (USD MILLION)       145

TABLE 84         EUROPE: DIGITAL SUBSTATION MARKET, BY TYPE, 2021–2024 (USD MILLION)         145

TABLE 85         EUROPE: DIGITAL SUBSTATION MARKET, BY TYPE, 2025–2030 (USD MILLION)         145

TABLE 86         EUROPE: DIGITAL SUBSTATION MARKET, BY VOLTAGE, 2021–2024 (USD MILLION)  145

TABLE 87         EUROPE: DIGITAL SUBSTATION MARKET, BY VOLTAGE, 2025–2030 (USD MILLION)  146

TABLE 88         EUROPE: DIGITAL SUBSTATION MARKET, BY INDUSTRY,

2021–2024 (USD MILLION)       146

TABLE 89         EUROPE: DIGITAL SUBSTATION MARKET, BY INDUSTRY,

2025–2030 (USD MILLION)       146

TABLE 90         EUROPE: DIGITAL SUBSTATION MARKET, BY UTILITY TYPE,

2021–2024 (USD MILLION)       146

TABLE 91         EUROPE: UTILITIES: DIGITAL SUBSTATION MARKET, BY UTILITY TYPE,

2025–2030 (USD MILLION)       147

TABLE 92         UK: DIGITAL SUBSTATION MARKET, BY INDUSTRY, 2021–2024 (USD MILLION)             148

TABLE 93         UK: DIGITAL SUBSTATION MARKET, BY INDUSTRY, 2025–2030 (USD MILLION)             148

TABLE 94         GERMANY: DIGITAL SUBSTATION MARKET, BY INDUSTRY,

2021–2024 (USD MILLION)       149

TABLE 95         GERMANY: DIGITAL SUBSTATION MARKET, BY INDUSTRY,

2025–2030 (USD MILLION)       149

TABLE 96         FRANCE: DIGITAL SUBSTATION MARKET, BY INDUSTRY,

2021–2024 (USD MILLION)       150

TABLE 97         FRANCE: DIGITAL SUBSTATION MARKET, BY INDUSTRY,

2025–2030 (USD MILLION)       150

TABLE 98         ITALY: DIGITAL SUBSTATION MARKET, BY INDUSTRY, 2021–2024 (USD MILLION)             151

TABLE 99         ITALY: DIGITAL SUBSTATION MARKET, BY INDUSTRY, 2025–2030 (USD MILLION)             151

TABLE 100       SPAIN: DIGITAL SUBSTATION MARKET, BY INDUSTRY, 2021–2024 (USD MILLION)             152

TABLE 101       SPAIN: DIGITAL SUBSTATION MARKET, BY INDUSTRY, 2025–2030 (USD MILLION)             152

TABLE 102       POLAND: DIGITAL SUBSTATION MARKET, BY INDUSTRY,

2021–2024 (USD MILLION)       153

TABLE 103       POLAND: DIGITAL SUBSTATION MARKET, BY INDUSTRY,

2025–2030 (USD MILLION)       153

TABLE 104       NORDICS: DIGITAL SUBSTATION MARKET, BY INDUSTRY,

2021–2024 (USD MILLION)       154

TABLE 105       NORDICS: DIGITAL SUBSTATION MARKET, BY INDUSTRY,

2025–2030 (USD MILLION)       154

TABLE 106       REST OF EUROPE: DIGITAL SUBSTATION MARKET, BY INDUSTRY,

2021–2024 (USD MILLION)       155

TABLE 107       REST OF EUROPE: DIGITAL SUBSTATION MARKET, BY INDUSTRY,

2025–2030 (USD MILLION)       155

TABLE 108       ASIA PACIFIC: DIGITAL SUBSTATION MARKET, BY COUNTRY,

2021–2024 (USD MILLION)       156

TABLE 109       ASIA PACIFIC: DIGITAL SUBSTATION MARKET, BY COUNTRY,

2025–2030 (USD MILLION)       157

TABLE 110       ASIA PACIFIC: DIGITAL SUBSTATION MARKET, BY MODULE,

2021–2024 (USD MILLION)       157

TABLE 111       ASIA PACIFIC: DIGITAL SUBSTATION MARKET, BY MODULE,

2025–2030 (USD MILLION)       157

TABLE 112       ASIA PACIFIC: DIGITAL SUBSTATION MARKET, BY HARDWARE TYPE,

2021–2024 (USD MILLION)       158

TABLE 113       ASIA PACIFIC: DIGITAL SUBSTATION MARKET, BY HARDWARE TYPE,

2025–2030 (USD MILLION)       158

TABLE 114       ASIA PACIFIC: DIGITAL SUBSTATION MARKET FOR HARDWARE PROTECTION DEVICES, BY TYPE, 2021–2024 (USD MILLION)       158

TABLE 115       ASIA PACIFIC: DIGITAL SUBSTATION MARKET FOR HARDWARE PROTECTION DEVICES, BY TYPE, 2025–2030 (USD MILLION)       159

TABLE 116       ASIA PACIFIC: DIGITAL SUBSTATION MARKET, BY TYPE, 2021–2024 (USD MILLION)           159

TABLE 117       ASIA PACIFIC: DIGITAL SUBSTATION MARKET, BY TYPE, 2025–2030 (USD MILLION)           159

TABLE 118       ASIA PACIFIC: DIGITAL SUBSTATION MARKET, BY VOLTAGE,

2021–2024 (USD MILLION)       159

TABLE 119       ASIA PACIFIC: DIGITAL SUBSTATION MARKET, BY VOLTAGE,

2025–2030 (USD MILLION)       160

TABLE 120       ASIA PACIFIC: DIGITAL SUBSTATION MARKET, BY INDUSTRY,

2021–2024 (USD MILLION)       160

TABLE 121       ASIA PACIFIC: DIGITAL SUBSTATION MARKET, BY INDUSTRY,

2025–2030 (USD MILLION)       160

TABLE 122       ASIA PACIFIC: DIGITAL SUBSTATION MARKET, BY UTILITY TYPE,

2021–2024 (USD MILLION)       160

TABLE 123       ASIA PACIFIC: DIGITAL SUBSTATION MARKET, BY UTILITY TYPE,

2025–2030 (USD MILLION)       161

TABLE 124       CHINA: DIGITAL SUBSTATION MARKET, BY INDUSTRY, 2021–2024 (USD MILLION)             162

TABLE 125       CHINA: DIGITAL SUBSTATION MARKET, BY INDUSTRY, 2025–2030 (USD MILLION)             162

TABLE 126       JAPAN: DIGITAL SUBSTATION MARKET, BY INDUSTRY, 2021–2024 (USD MILLION)             163

TABLE 127       JAPAN: DIGITAL SUBSTATION MARKET, BY INDUSTRY, 2025–2030 (USD MILLION)             163

TABLE 128       SOUTH KOREA: DIGITAL SUBSTATION MARKET, BY INDUSTRY,

2021–2024 (USD MILLION)       164

TABLE 129       SOUTH KOREA: DIGITAL SUBSTATION MARKET, BY INDUSTRY,

2025–2030 (USD MILLION)       164

TABLE 130       INDIA: DIGITAL SUBSTATION MARKET, BY INDUSTRY, 2021–2024 (USD MILLION)             165

TABLE 131       INDIA: DIGITAL SUBSTATION MARKET, BY INDUSTRY, 2025–2030 (USD MILLION)             165

TABLE 132       AUSTRALIA: DIGITAL SUBSTATION MARKET, BY INDUSTRY,

2021–2024 (USD MILLION)       166

TABLE 133       AUSTRALIA: DIGITAL SUBSTATION MARKET, BY INDUSTRY,

2025–2030 (USD MILLION)       166

TABLE 134       INDONESIA: DIGITAL SUBSTATION MARKET, BY INDUSTRY,

2021–2024 (USD MILLION)       167

TABLE 135       INDONESIA: DIGITAL SUBSTATION MARKET, BY INDUSTRY,

2025–2030 (USD MILLION)       167

TABLE 136       MALAYSIA: DIGITAL SUBSTATION MARKET, BY INDUSTRY,

2021–2024 (USD MILLION)       168

TABLE 137       MALAYSIA: DIGITAL SUBSTATION MARKET, BY INDUSTRY,

2025–2030 (USD MILLION)       168

TABLE 138       THAILAND: DIGITAL SUBSTATION MARKET, BY INDUSTRY,

2021–2024 (USD MILLION)       169

TABLE 139       THAILAND: DIGITAL SUBSTATION MARKET, BY INDUSTRY,

2025–2030 (USD MILLION)       169

TABLE 140       VIETNAM: DIGITAL SUBSTATION MARKET, BY INDUSTRY,

2021–2024 (USD MILLION)       170

TABLE 141       VIETNAM: DIGITAL SUBSTATION MARKET, BY INDUSTRY,

2025–2030 (USD MILLION)       170

TABLE 142       REST OF ASIA PACIFIC: DIGITAL SUBSTATION MARKET, BY INDUSTRY,

2021–2024 (USD MILLION)       171

TABLE 143       REST OF ASIA PACIFIC: DIGITAL SUBSTATION MARKET, BY INDUSTRY,

2025–2030 (USD MILLION)       171

TABLE 144       ROW: DIGITAL SUBSTATION MARKET, BY REGION, 2021–2024 (USD MILLION)     172

TABLE 145       ROW: DIGITAL SUBSTATION MARKET, BY REGION, 2025–2030 (USD MILLION)     172

TABLE 146       ROW: DIGITAL SUBSTATION MARKET, BY MODULE, 2021–2024 (USD MILLION)   173

TABLE 147       ROW: DIGITAL SUBSTATION MARKET, BY MODULE, 2025–2030 (USD MILLION)   173

TABLE 148       ROW: DIGITAL SUBSTATION MARKET, BY HARDWARE TYPE,

2021–2024 (USD MILLION)       173

TABLE 149       ROW: DIGITAL SUBSTATION MARKET, BY HARDWARE TYPE,

2025–2030 (USD MILLION)       174

TABLE 150       ROW: DIGITAL SUBSTATION MARKET, BY PROTECTION DEVICES TYPE,

2021–2024 (USD MILLION)       174

TABLE 151       ROW: DIGITAL SUBSTATION MARKET FOR PROTECTION DEVICES, BY TYPE,

2025–2030 (USD MILLION)       174

TABLE 152       ROW: DIGITAL SUBSTATION MARKET, BY TYPE, 2021–2024 (USD MILLION)         174

TABLE 153       ROW: DIGITAL SUBSTATION MARKET, BY TYPE, 2025–2030 (USD MILLION)         175

TABLE 154       ROW: DIGITAL SUBSTATION MARKET, BY VOLTAGE, 2021–2024 (USD MILLION)  175

TABLE 155       ROW: DIGITAL SUBSTATION MARKET, BY VOLTAGE, 2025–2030 (USD MILLION)  175

TABLE 156       ROW: DIGITAL SUBSTATION MARKET, BY INDUSTRY, 2021–2024 (USD MILLION)             175

TABLE 157       ROW: DIGITAL SUBSTATION MARKET, BY INDUSTRY, 2025–2030 (USD MILLION)             176

TABLE 158       ROW: DIGITAL SUBSTATION MARKET, BY UTILITY TYPE, 2021–2024 (USD MILLION)      176

TABLE 159       ROW: DIGITAL SUBSTATION MARKET, BY UTILITY TYPE, 2025–2030 (USD MILLION)      176

TABLE 160       MIDDLE EAST: DIGITAL SUBSTATION MARKET, BY COUNTRY,

2021–2024 (USD MILLION)       177

TABLE 161       MIDDLE EAST: DIGITAL SUBSTATION MARKET, BY COUNTRY,

2025–2030 (USD MILLION)       178

TABLE 162       MIDDLE EAST: DIGITAL SUBSTATION MARKET, BY INDUSTRY,

2021–2024 (USD MILLION)       178

TABLE 163       MIDDLE EAST: DIGITAL SUBSTATION MARKET, BY INDUSTRY,

2025–2030 (USD MILLION)       178

TABLE 164       AFRICA: DIGITAL SUBSTATION MARKET, BY COUNTRY, 2021–2024 (USD MILLION) 181

TABLE 165       AFRICA: DIGITAL SUBSTATION MARKET, BY COUNTRY, 2025–2030 (USD MILLION) 181

TABLE 166       AFRICA: DIGITAL SUBSTATION MARKET, BY INDUSTRY, 2021–2024 (USD MILLION)             181

TABLE 167       AFRICA: DIGITAL SUBSTATION MARKET, BY INDUSTRY, 2025–2030 (USD MILLION)             181

TABLE 168       SOUTH AMERICA: DIGITAL SUBSTATION MARKET, BY INDUSTRY,

2021–2024 (USD MILLION)       183

TABLE 169       SOUTH AMERICA: DIGITAL SUBSTATION MARKET, BY INDUSTRY,

2025–2030 (USD MILLION)       183

TABLE 170       OVERVIEW OF STRATEGIES DEPLOYED BY KEY PLAYERS,

JANUARY 2022–AUGUST 2025 187

TABLE 171       DIGITAL SUBSTATION MARKET: DEGREE OF COMPETITION, 2024    189

TABLE 172       DIGITAL SUBSTATION MARKET: REGION FOOTPRINT      195

TABLE 173       DIGITAL SUBSTATION MARKET: MODULE FOOTPRINT      196

TABLE 174       DIGITAL SUBSTATION MARKET: INDUSTRY FOOTPRINT      197

TABLE 175       DIGITAL SUBSTATION MARKET: TYPE FOOTPRINT      198

TABLE 176       DIGITAL SUBSTATION MARKET: LIST OF KEY STARTUPS/SMES, 2024            201

TABLE 177       DIGITAL SUBSTATION MARKET: COMPETITIVE BENCHMARKING OF

KEY STARTUPS/SMES 201

TABLE 178       DIGITAL SUBSTATION MARKET: PRODUCT LAUNCHES,

JANUARY 2022–AUGUST 2025 202

TABLE 179       DIGITAL SUBSTATION MARKET: DEALS, JANUARY 2022–AUGUST 2025 203

TABLE 180       HITACHI, LTD.: COMPANY OVERVIEW            206

TABLE 181       HITACHI, LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED  207

TABLE 182       HITACHI, LTD.: PRODUCT LAUNCHES            209

TABLE 183       HITACHI, LTD.: DEALS             210

TABLE 184       SIEMENS ENERGY: COMPANY OVERVIEW            212

TABLE 185       SIEMENS ENERGY: PRODUCTS/SOLUTIONS/SERVICES OFFERED  213

TABLE 186       SIEMENS ENERGY: DEALS       215

TABLE 187       ABB: COMPANY OVERVIEW     217

TABLE 188       ABB: PRODUCTS/SOLUTIONS/SERVICES OFFERED          218

TABLE 189       ABB: DEALS     219

TABLE 190       SCHNEIDER ELECTRIC: COMPANY OVERVIEW            221

TABLE 191       SCHNEIDER ELECTRIC: PRODUCTS/SOLUTIONS/SERVICES OFFERED  222

TABLE 192       SCHNEIDER ELECTRIC: DEALS            224

TABLE 193       GE VERNOVA: COMPANY OVERVIEW  226

TABLE 194       GE VERNOVA: PRODUCTS/SOLUTIONS/SERVICES OFFERED  227

TABLE 195       GE VERNOVA: DEALS  229

TABLE 196       MITSUBISHI ELECTRIC CORPORATION: COMPANY OVERVIEW  230

TABLE 197       MITSUBISHI ELECTRIC CORPORATION:

PRODUCTS/SOLUTIONS/SERVICES OFFERED  231

TABLE 198       MITSUBISHI ELECTRIC CORPORATION: DEALS  233

TABLE 199       EATON: COMPANY OVERVIEW            234

TABLE 200       EATON: PRODUCTS/SOLUTIONS/SERVICES OFFERED          235

TABLE 201       EATON: DEALS            236

TABLE 202       HONEYWELL INTERNATIONAL INC.: COMPANY OVERVIEW  238

TABLE 203       HONEYWELL INTERNATIONAL INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED  239

TABLE 204       HONEYWELL INTERNATIONAL INC.: DEALS            240

TABLE 205       TOSHIBA CORPORATION: COMPANY OVERVIEW       241

TABLE 206       TOSHIBA CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED  242

TABLE 207       CISCO: COMPANY OVERVIEW  243

TABLE 208       CISCO: PRODUCTS/SOLUTIONS/SERVICES OFFERED          245

LIST OF FIGURES

FIGURE 1         DIGITAL SUBSTATION MARKET: RESEARCH DESIGN             31

FIGURE 2         MARKET SIZE ESTIMATION: SUPPLY-SIDE ANALYSIS         37

FIGURE 3         BOTTOM-UP APPROACH         38

FIGURE 4         TOP-DOWN APPROACH           38

FIGURE 5         MARKET SIZE ESTIMATION: DEMAND-SIDE ANALYSIS         39

FIGURE 6         MARKET SIZE ESTIMATION: SUPPLY-SIDE ANALYSIS         40

FIGURE 7         DATA TRIANGULATION           41

FIGURE 8         DIGITAL SUBSTATION MARKET: GLOBAL SNAPSHOT       45

FIGURE 9         HARDWARE SEGMENT TO ACOUNT FOR LARGEST MARKET SHARE IN 2030     45

FIGURE 10        TRANSMISSION SEGMENT TO ACCOUNT FOR LARGER MARKET SHARE IN 2030        46

FIGURE 11        NEW INSTALLATIONS SEGMENT TO REGISTER HIGHEST GROWTH

DURING FORECAST PERIOD     46

FIGURE 12        220–550 KV SEGMENT TO DOMINATE MARKET IN 2030          47

FIGURE 13        ASIA PACIFIC TO DOMINATE MARKET DURING FORECAST PERIOD     48

FIGURE 14        INCREASING INVESTMENTS IN SMART GRID INFRASTRUCTURE TO DRIVE MARKET           49

FIGURE 15        HARDWARE SEGMENT TO LEAD MARKET IN 2025     50

FIGURE 16        TRANSMISSION SUBSTATION SEGMENT TO HOLD LARGER MARKET

SHARE IN 2030 50

FIGURE 17        NEW INSTALLATIONS SEGMENT TO SECURE LARGER MARKET SHARE IN 2030        51

FIGURE 18        220–550 KV SEGMENT TO CAPTURE LARGEST MARKET SHARE IN 2030     51

FIGURE 19        UTILITY SEGMENT AND CHINA TO ACCOUNT FOR LARGEST MARKET

SHARES IN 2025           52

FIGURE 20        DIGITAL SUBSTATION MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES,

AND CHALLENGES       54

FIGURE 21        IMPACT ANALYSIS OF DRIVERS ON DIGITAL SUBSTATION MARKET            57

FIGURE 22        IMPACT ANALYSIS OF RESTRAINTS ON DIGITAL SUBSTATION MARKET          59

FIGURE 23        IMPACT ANALYSIS OF OPPORTUNITIES ON DIGITAL SUBSTATION MARKET          61

FIGURE 24        IMPACT ANALYSIS OF CHALLENGES ON DIGITAL SUBSTATION MARKET          62

FIGURE 25        VALUE CHAIN ANALYSIS: DIGITAL SUBSTATION MARKET            63

FIGURE 26        DIGITAL SUBSTATION MARKET: ECOSYSTEM ANALYSIS         65

FIGURE 27        INVESTMENT AND FUNDING SCENARIO, 2019–2023        65

FIGURE 28        TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 66

FIGURE 29        AVERAGE SELLING PRICE TREND OF MODULES, BY TYPE, 2023–2030          70

FIGURE 30        AVERAGE SELLING PRICE TREND OF PROTECTION RELAYS,

BY REGION, 2023–2030            71

FIGURE 31        INFLUENCE OF KEY STAKEHOLDERS ON BUYING PROCESS FOR

TOP THREE INDUSTRIES         72

FIGURE 32        KEY BUYING CRITERIA FOR TOP THREE INDUSTRIES     72

FIGURE 33        DIGITAL SUBSTATION MARKET: PORTER’S FIVE FORCES ANALYSIS          74

FIGURE 34        IMPACT OF PORTER’S FIVE FORCES ANALYSIS ON DIGITAL SUBSTATION MARKET           74

FIGURE 35        IMPORT DATA FOR HS CODE 8504-COMPLIANT PRODUCTS, BY COUNTRY,

2020–2024        78

FIGURE 36        EXPORT DATA FOR HS CODE 8504-COMPLIANT PRODUCTS, BY COUNTRY,

2020–2024        79

FIGURE 37        NUMBER OF PATENTS GRANTED PERTAINING TO DIGITAL SUBSTATION,

2015–2024        81

FIGURE 38        IMPACT OF AI/GENERATIVE AI ON DIGITAL SUBSTATION MARKET            86

FIGURE 39        TRANSMISSION SUBSTATION TO ACCOUNT FOR LARGER SHARE OF

DIGITAL SUBSTATION IN 2030            92

FIGURE 40        NEW INSTALLATIONS TO CLAIM LARGER SHARE OF

DIGITAL SUBSTATION MARKET IN 2030         98

FIGURE 41        UTILITIES SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE IN 2030     102

FIGURE 42        HARDWARE SEGMENT TO DOMINATE MARKET IN 2030          113

FIGURE 43        TRANSFORMER TO CAPTURE LARGEST MARKET SHARE OF

HARDWARE TYPE IN 2030       114

FIGURE 44        UP TO 220 KV TO ACCOUNT FOR LARGEST SHARE OF

VOLATGE SEGMENT IN DIGITAL SUBSTATION IN 2030            127

FIGURE 45        DIGITAL SUBSTATION MARKET, BY REGION            131

FIGURE 46        ASIA PACIFIC TO EXHIBIT HIGHEST CAGR IN DIGITAL SUBSTATION MARKET

DURING FORECAST PERIOD     131

FIGURE 47        NORTH AMERICA: DIGITAL SUBSTATION MARKET SNAPSHOT    133

FIGURE 48        EUROPE: DIGITAL SUBSTATION MARKET SNAPSHOT       142

FIGURE 49        ASIA PACIFIC: DIGITAL SUBSTATION MARKET SNAPSHOT    156

FIGURE 50        ROW: DIGITAL SUBSTATION MARKET SNAPSHOT       172

FIGURE 51        DIGITAL SUBSTATION MARKET: MARKET SHARE ANALYSIS, 2024           188

FIGURE 52        DIGITAL SUBSTATION MARKET: COMPANY VALUATION, 2024        189

FIGURE 53        FINANCIAL METRICS (EV/EBITDA), 2025            190

FIGURE 54        DIGITAL SUBSTATIO MARKET: BRAND/PRODUCT COMPARISON          190

FIGURE 55        DIGITAL SUBSTATION MARKET: REVENUE ANALYSIS OF FIVE KEY PLAYERS,

2020–2024 (USD BILLION)        191

FIGURE 56        DIGITAL SUBSTATION MARKET: COMPANY EVALUATION MATRIX, 2024    193

FIGURE 57        DIGITAL SUBSTATION MARKET: COMPANY FOOTPRINT      194

FIGURE 58        DIGITAL SUBSATION MARKET: COMPANY EVALUATION MATRIX:

STARTUPS/SMES, 2024            200

FIGURE 59        HITACHI, LTD.: COMPANY SNAPSHOT            206

FIGURE 60        SIEMENS ENERGY: COMPANY SNAPSHOT            213

FIGURE 61        ABB: COMPANY SNAPSHOT     218

FIGURE 62        SCHNEIDER ELECTRIC: COMPANY SNAPSHOT            222

FIGURE 63        GE VERNOVA: COMPANY SNAPSHOT  227

FIGURE 64        MITSUBISHI ELECTRIC CORPORATION: COMPANY SNAPSHOT  231

FIGURE 65        EATON: COMPANY SNAPSHOT            235

FIGURE 66        HONEYWELL INTERNATIONAL INC.: COMPANY SNAPSHOT  239

FIGURE 67        CISCO: COMPANY SNAPSHOT  244

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