ID: MRFR/E&P/7113-HCR | February 2021 | Region: Global | 111 pages
Distribution Automation Market Overview
The pandemic has not been good to the global markets across the country since it arrived in 2020. The industry analysts and business experts suggest that the market will attain a global CAGR of 7.31% during the ongoing forecast period of 2021-2028. At such a global market CAGR, the operations are likely to result and help the market attain a global market figure worth USD 19.24 billion. During the historic forecast period that ended in 2019, the market was valued at a global figure worth USD 12.4 billion. The market is witnessing an emerging need for improvements in grid reliability along with operating efficiency which will work in benefits for the expansion goals of the market by the end of the ongoing forecast period in 2028.
The arrival of the novel coronavirus pandemic has been a huge blow for various kinds of markets and is raising questions regarding the way of living of people and the availability of healthcare services and infrastructure in various locations across the globe. Both the developed and developing economies of the world are having huge issues in keeping their demand, supply, production, and manufacturing intact and hence, give the consumers give something to create their demand upon. The novel coronavirus has been one of its kind and so are the treatments and symptoms that follow. The concept is unaware of and hence, the established medical providers and centers are struggling to find the correct medical solution that will not only help treat the patients but also act as a vaccine and immunity booster for the global audience during the forecast period.
Hence, for the same, the global market players and the governments of the developing, developed, and under-developed countries are on the lookout for sources to increase their investment. The idea behind raising the bar for investments is to research and develop new products for the target audience to choose from followed by the launch of the new products in the international market for mass and global competition and reach during the forecast period that will be ending in 2028.
The prominent market players of the market that are increasing the competitive degree are as follows:
The growth scale for the distribution automation market revenue looks very promising during the forecast period of 2021-2028. The market is showing signs in the form of factors like the continuously rising demand for the automated grid distribution processes followed by the need for reliability improvement programs by the global governments are likely to have positive attributes and hence, provide the market with major expansion opportunities during the forecast period that will be ending in 2028. Also, the rise in global electricity demand followed by the availability of grid infrastructures across the global market scale will boost the growth opportunities and help in increasing the distribution automation market value.
However, the market has some hurdles and challenges to dissolve to meet the expectations and rise as per the predictions laid down by the market players and industry experts. Post the arrival of the pandemic in 2020, the market has been facing functional and demand restrictions which is a major problem during the forecast period. The lack of investment is reducing the availability of sturdy raw materials that will further, create issues for the market during the forecast period.
However, owing to the availability of growth opportunities, there has been a significant rise in investments towards the reimbursements of aging grid infrastructures which will help the market make optimal use of the available technology and hence, grow during the forecast period of 2021-2028. The rapid deployments of smart grids are ready to meet the growing regulatory targets that show positive signs of market revenue by the end of the forecast period. There is an increase in the number of smart grids that further, show positive and signs of massive global expansion.
The distribution automation market value is increasing as the market segments are witnessing immense growth by moving forward with the electrical infrastructure and modernization expenditures. The market has been segmented based on the following:
Based on market components
The component segment of the market includes communication, technology, and others like field service, along with the software and services.
Based on utility types
The utility types of the market deal in both wireless technology and wired technology.
Based on the distribution automation market distribution of resources and target audience across the globe, 4 major mushrooming regions will compete for international market domination. The regions are North America, the European regions, the APAC region, across the rest of the world (RoW). The North American region is likely to dominate the global market operations in the forecast period. The largest market share in the North American region is likely to be held by the US and Canadian market scale. The rising market advancements in smart-grid technology will help in catering to the rising demand in the electricity industry. The investments for the market industry are developing the market operations and are playing a crucial role in meeting the market during the forecast period that will be ending in 2028.
The global market report helps in discussing the possible market factors that will give rise to the mass development of the market during the forecast period of 2021-2028. The market report offers a qualitative study of the market segmentation that will help in understanding the regional and international market competition. The report will also highlight the recent developments undertaken by the market players and hence, attain a dominant position in the globe by the end of the forecast period in 2028.
|Market Size||2027: USD 19.24 Billion|
|CAGR||7.14% CAGR (2020-2027)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Component, Utility Type|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||ABB (Switzerland), Siemens (Germany), Eaton (Ireland), Xylem (Sensus) (US), S&C Electric (US), G&W Electric (US), Schneider Electric (France), GE (US), Schweitzer Engineering Laboratories (US), Power System Engineering (US), Landis+Gyr (Switzerland), Cisco (US), and Trilliant Holdings Inc. (US)|
|Key Market Opportunities||Upgrade the aging distribution infrastructure and increasing renewable power generation|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The distribution automation market is supposed to strike 7.31% CAGR.
The value of the distribution automation market is supposed to reach USD 22.8 Bn.
The players operating in the market are ABB (Switzerland), Eaton (Ireland), Siemens (Germany), Xylem (Sensus) (US), G&W Electric (US), S&C Electric (US), Schneider Electric (France), Schweitzer Engineering Laboratories (US), GE (US), Power System Engineering (US), Cisco (US), Landis+Gyr (Switzerland), and Trilliant Holdings Inc. (US).
The segments of the distribution automation market based on component are software & services, field device, and communication technology.
By utility type, the segments are wired technology and wireless technology.