Digital Substation Market Size to Hit USD 13.71 Billion by 2032, at 7.2% CAGR | Report by SNS Insider

GlobeNewswire On October 27, 2025 18:06 IST

Digital Substation Market growth is driven by aging grid upgrades, renewable energy integration, smart grid/IoT adoption, and IEC-61850-based automation.

Austin, Oct. 27, 2025 (GLOBE NEWSWIRE) — Digital Substation Market Size & Growth Insights:

According to the SNS Insider,“The Digital Substation Market Size was valued at USD 7.91 Billion in 2024 and is expected to reach USD 13.71 Billion by 2032 and grow at a CAGR of 7.2% over 2024-2032.”

Increasing Adoption of Smart Grid Infrastructure and Renewable Energy Integration Propel Market Growth Globally

The market for digital substations is being driven mostly by the increased emphasis on updating power networks and incorporating renewable energy sources. To increase grid dependability, lower power losses, and improve energy efficiency, governments and utilities around the world are funding smart grid initiatives. Digital substations provide for the smooth integration of renewable energy sources by facilitating remote control, automation, and real-time monitoring of power networks. Interoperability between digital substation components is ensured by the use of IEC 61850 standards, which improves overall operating efficiency.

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Leading Market Players with their Product Listed in this Report are:

ABB Ltd.
Siemens AG
General Electric Company
Schneider Electric
Honeywell International Inc.
Cisco Systems Inc.
Eaton Corporation plc
Emerson Electric Co.
NR Electric Co. Ltd.
Hitachi Energy Ltd.

Digital Substation Market Report Scope:

Report Attributes	Details
Market Size in 2024	USD 7.91 Billion
Market Size by 2032	USD 13.71 Billion
CAGR	CAGR of 7.2% From 2025 to 2032
Report Scope & Coverage	Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segmentation	• By Module (Hardware, Fiber-optic Communication Networks, SCADA) • By Type (Transmission Substation, Distribution Substation) • By Voltage (Up to 220kV, 220-500kV, Above 500kV) • By End-Use (Utility, Heavy Industries, Transportation, Others)

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Key Industry Segmentation

By Module

With 53% of total revenue in 2023, the hardware segment commands the greatest share of the digital substation market. Intelligent electronic devices (IEDs), remote terminal units (RTUs), merging units, and fiber-optic communication systems that improve automation, real-time monitoring, and grid dependability are the main drivers of this supremacy. The SCADA segment is projected to grow at the highest CAGR in the Digital Substation Market, driven by increasing demand for high-performance insulation materials and coatings that enhance electrical equipment durability and efficiency.

By Type

With 61% of total revenue in 2023, the Distribution Substation segment held the greatest market share. This growth was fueled by the expansion of electricity distribution networks, growing urbanization, and industrialization. The Transmission Substation segment is expected to witness the highest CAGR of 8.0% during the forecast period, fueled by increasing investments in high-voltage power transmission infrastructure and interregional grid connectivity projects.

By Voltage

The 220-500kV voltage segment held the largest revenue share of 43% in 2023, driven by the increasing demand for high-voltage transmission and grid expansion projects. The Up to 220kV voltage segment is projected to register the Fastest CAGR of 8.21% during the forecast period, driven by the rising demand for medium-voltage distribution networks, urban electrification, and industrial power solutions.

By End-Use

The utility segment accounted for 52% of the total revenue share in 2023, driven by the increasing adoption of smart grid technology, renewable energy integration, and grid modernization initiatives. The electrification of metro systems, railroads, and electric vehicle (EV) charging infrastructure is expected to propel the transportation segment’s growth at the greatest compound annual growth rate (CAGR) of 8.7% throughout the projection period.

Regional Insights:

The Asia Pacific region led the Digital Substation Market in 2023, accounting for an estimated 35% market share, driven by rapid urbanization, industrial expansion, and increasing investments in smart grid infrastructure.

North America is experiencing the fastest growth in the Digital Substation Market, with an estimated CAGR of 8.3% during the forecast period. The region’s growth is driven by significant investments in smart grid technology, modernization of aging power infrastructure, and increasing renewable energy deployment.

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Recent News:

In December 2024, ABB signed an agreement to acquire Siemens Gamesa’s power electronics business, which includes assets in India. This strategic move aims to strengthen ABB’s position in the renewable power conversion technology market, enhancing its offerings for high-powered renewable applications.
In December 2024, Siemens Gamesa, a subsidiary of Siemens AG, agreed to sell its power electronics business to ABB. This divestment allows Siemens Gamesa to focus on its core business areas while entering into a long-term collaboration with ABB for power electronics supply to its turbines.

Exclusive Sections of the Digital Substation Market Report (The USPs):

INVESTMENT TRENDS ANALYSIS – helps you understand the flow of capital across regions and technology segments in 2023, highlighting key investment hotspots, government funding initiatives, and private sector participation driving digital substation modernization.
SUPPLY CHAIN EFFICIENCY INDEX – helps you assess the robustness of the digital substation supply chain by analyzing component sourcing, vendor dependencies, logistics efficiency, and the resilience of global and regional networks against disruptions.
ENVIRONMENTAL IMPACT METRICS – helps you measure sustainability performance through data on energy efficiency improvements, emission reduction, and lifecycle environmental footprint associated with digital substation deployment and operation.
PATENT & INNOVATION LANDSCAPE – helps you track technological leadership by identifying the number of patents filed, emerging innovations in automation, communication, and protection systems, and the R&D intensity of top players.
COMPETITIVE STRATEGY & MARKET POSITIONING – helps you gauge the competitive dynamics among major vendors, backed by analysis of investment patterns, intellectual property strength, regional market reach, and partnerships in smart grid and substation automation projects.

About Us:

SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company’s aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.

CONTACT: Contact Us:
Rohan Jadhav - Principal Consultant
Phone: +1-315 636 4242 (US) | +44- 20 3290 5010 (UK)

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