The digital substation market is projected to grow at a CAGR of 7.1% from 2020 to 2025

New York, Aug. 10, 2020 (GLOBE NEWSWIRE) — announces the release of the report “Digital Substation Market with Covid-19 Impact Analysis by Module, Type, Voltage, Installation Type, Industry And Region – Global Forecast to 2025” –
The modernization of industrial infrastructure in APAC is growing at a high rate for a few years, and the same trend is expected to continue in the future. The digital substation market in this region is expected to grow at the highest rate among all other regions due to rapid industrialization, modernization of grid infrastructure, and entry of many private companies in the power sector, increased spending by governments to boost the utility sector, and increasing number of power utilities. Digital substations provide cost-effective solutions, which help in meeting the rising demand for electricity in countries such as China, India, and Singapore.
The major restraints for the growth of the market are high initial set-up costs associated with digital substations and concerns regarding cyber-attacks.
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