Selbyville, Delaware, Feb. 24, 2022 (GLOBE NEWSWIRE) —
The digital substation market size is anticipated to record a valuation of USD 10.5 billion by 2028, according to the most recent study by Global Market Insights Inc. The soaring energy demand coupled with the adoption of innovative monitoring & control devices to augment safe electricity supply and grid securities will proliferate the market growth.
The COVID-19 pandemic has affected various businesses in an unprecedented manner, leading to the closure of major energy-intensive industries including manufacturing industries along with various commercial establishments such as offices and educational facilities. In addition, access to manufactured components has been subdued on account of mass production shutdowns as well as a slowdown in transportation & logistical operations, thereby affecting the market demand. However, a resumption of industrial operations along with the lifting of lockdown mandates will boost the demand for digital substation units around the globe over the coming years.
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Favorable governmental schemes to provide electricity across remote areas to complement the product acceptance in the coming years. Large-scale renewable integration along with the demand for advanced distributed generation technologies for frequency resonance across new & existing grid infrastructure will sway the…
