According to the research report titled ‘North America Digital Substation Market Size By Component, Architecture, Application, Connectivity, Voltage Level, End Use, Installation, Industry Analysis Report, Country Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026’ available with Market Study Report, North America digital substation market is anticipated to attain substantial expansion during 2020-2026.
 

Industry experts claim that increasing adoption of renewable power, flourishing real estate industry, escalating demand for electricity, digitization of power utilities, and shift of consumer preference towards deployment of efficient substations for uninterrupted power supply are bolstering the growth of North America digital substation market.
 

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Furthermore, implementation of micro grid networks, overhaul of existing electrical infrastructure, technological advancements such as smart monitoring software & hardware and PLC networks, and favorable government initiatives such as feed in tariff and net metering are positively swaying the North America digital substation market outlook.
 

Based on component, the communication network segment is expected to emerge as a lucrative major revenue generator for North America digital substation industry during the analysis timeframe. Factors such as escalating demand for large-scale process plants as well as reliable & safe electrical infrastructure across residential and industrial establishments along with beneficial attributes of the product such as quick disaster response and temporary load support are fostering the expansion of the segment.
 

With regards to connectivity, the 33 kV to 110 kV segment is projected to record unprecedented growth over the forecast period. Increasing number of commercial and residential establishments, flourishing tourism sector, growing concerns regarding grid security and stability, rising investments towards infrastructural development, implementation of cross border networks, and escalating power demand are propelling the expansion of the segment.
 

The country-level analysis of the report states that Canada digital substation market is predicted to expand considerably over 2020-2026, owing to rising adoption of decentralized power systems, growing need for efficient transmission and distribution networks, and surging product demand from universities, airports, and malls. Rising demand for cost-efficient products coupled with favorable government initiatives towards refurbishing existing electric infrastructure are further fueling the growth of the business in Canada.
 

Major players that outline the North America digital substation industry trends are Larsen & Toubro Limited (L&T), Siemens AG, Rockwell Automation, Inc., Eaton Corporation plc, Schneider Electric, General Electric Company, Emerson Electric Co., NR Electric Co., Ltd., Belden Inc., and ABB.