Dublin, Jan. 19, 2026 (GLOBE NEWSWIRE) — The “Digital Substation Global Market Opportunities and Strategies to 2034” has been added to ResearchAndMarkets.com’s offering.
The digital substation market’s trajectory from 2019 through 2029 shows significant growth potential, with the global market value reaching approximately $7.85 billion in 2024, and projected to rise to $11.8 billion by 2029, at a CAGR of 8.49%. Further growth is anticipated, with the market expected to reach $17.55 billion by 2034 at a CAGR of 8.27%. This growth is driven by the rising demand for grid automation, the expanding scope of smart cities, and enhanced integration of renewable energy sources.
Asia Pacific emerges as the leading region in the digital substation market, holding 35.03% of the total market share in 2024. It is followed by Western Europe and North America. The most rapid growth is expected in Asia Pacific and Eastern Europe, with projected CAGRs of 10.27% and 9.02%, respectively. Industry players like ABB Ltd, Schneider Electric SE, and Hitachi Energy Ltd. dominate the market, with a combined market presence of 31.95% as of 2024.
Market segmentation shows the medium voltage category as the largest by voltage level, anticipating further expansion in the high voltage segment. By module, hardware dominates, with supervisory control and data acquisition positioned for the highest growth rates. Distribution leads in terms of type, while the transmission segment promises rapid growth. The power generation industry vertical represents the largest market share, with significant growth expected.
In terms of equipment, intelligent electronic devices (IEDs) command a substantial market share, with the SCADA systems segment on track to become the fastest growing. Prominent opportunities are evident in medium voltage, distribution, hardware modules, and power generation segments, particularly in China, forecasted to surge by $810.75 million.
Trends in the digital substation market include the development of smart metering platforms, the implementation of fiber-optic communication systems, and the advancement of digital devices merging multiple functions. Companies are also focusing on deploying software-defined automation and digital twin technologies to optimize performance and bolster grid resilience.
For competitive advantage, businesses should prioritize innovation in high-resolution sensing, real-time grid intelligence, and scalability of digital substations. Focus on expanding the SCADA segment, high voltage solutions, and intelligent multifunction devices is recommended. Emphasizing strategic partnerships and enhancing workforce capabilities can further strengthen market positioning. Likewise, exploring emerging markets, optimizing distribution, and refining pricing strategies can accelerate growth and expand market reach.
Key Chapters Include:
- Introduction and Market Characteristics: Delve into segmentations by voltage level, type, module, industry vertical, and equipment type.
- Key Trends: Explore major trends and future market developments.
- Growth Analysis and Strategic Analysis Framework: Analyze historical and forecast market values, alongside market growth contributors and TAM.
- Competitive Landscape: Gain insights into market shares, company profiles, and competitive benchmarking.
- Market Opportunities and Strategies: Discover growth opportunities and strategic approaches across countries and segments.
- Conclusions and Recommendations: Includes product and service offering suggestions and geographic expansion strategies for providers.
Market Segmentation:
- By Voltage Level: Low Voltage, Medium Voltage, High Voltage
- By Type: Transmission, Distribution
- By Module: Fiber Optics Communication Network, SCADA, Hardware
- By Industry Vertical: Power Generation, Metal and Mining, Oil and Gas, Transportation and Logistics, Defense and Aerospace, Process and Manufacturing, Other Industry Verticals
- By Equipment Type: IEDs, Digital Relays, Merging Units, PMUs, SCADA Systems, RTUs, Communication Systems, Other Equipment Types
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 406 |
| Forecast Period | 2024 – 2034 |
| Estimated Market Value (USD) in 2024 | $7.85 Billion |
| Forecasted Market Value (USD) by 2034 | $17.55 Billion |
| Compound Annual Growth Rate | 8.4% |
| Regions Covered | Global |
Companies Featured
- ABB Ltd
- Schneider Electric SE
- Hitachi Energy Ltd.
- Siemens AG
- Mitsubishi Electric Corporation
- GE Vernova
- Cisco Systems Inc.
- Toshiba Corporation
- Eaton Corporation plc
- Rockwell Automation, Inc.
- Nari Technology Co Ltd
- Eaton Corporation
- ABB Group
- Schneider Electric India
- General Electric Company
- Larsen & Toubro Limited
- DNV GL
- Hitachi
- iGrid T&D SL
- Kalki Communication Technologies Private Limited
- CG Power & Industrial Solutions Ltd
- Alstom
- Hyundai Electric & Energy Systems Co Ltd
- ERLPhase Power Technologies Ltd
- Tata Power Delhi Distribution Limited
- KEC International Limited
- Bharat Heavy Electricals Ltd (BHEL)
- Fuji Electric Global
- PT Perusahaan Listrik Negara (PLN Persero)
- Shanghai Electric Group Co Ltd
- CYG Sunri Co Ltd
- NR Electric Co Ltd
- Conso Electrical Science and Technology Co Ltd
- Sunten Electric Equipment Co Ltd
- Hyosung Heavy Industries
- Arteche Group
- EFACEC Power Solutions SGPS S A
- Alstom Ltd
- Rittal GmbH & Co KG
- STE Energy
- GE Vernova Inc
- Hitachi Energy
- DTEK
- Welotec GmbH
- Siemens Energy
- LF Energy Digital Substations
- Roxtec
- WEG Supplies
- Honeywell International Inc
- Emerson Electric
- NamPower
For more information about this report visit https://www.researchandmarkets.com/r/avyn7
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- Digital Substation Market
