Distribution Automation Industry Insight:
The surge in the increasing renewable power generation, particularly in the lockdown period owed to novel coronavirus pandemic worldwide, has affected the global Distribution Automation Market 2020 imperatively. The up to date data on the market position of the distribution automation market by Market Research Future claims that a growth rate of 7.31% has been recorded for future development, which could be noted, after the pandemic. Many factors are being scored behind the growth of the market, which has been discussed below. The forecasted period of the market’s growth is calculated for the years 2019–2025, and during this period, the market assumes to be up by USD 19.42 Billion in revenue.
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Distribution Automation Trends & Growth
Projections show growth for distribution automation market over the forecasted period as government mandates to enhance grid efficiency. This is boosting the adoption of distribution automation technology across the energy and utility sector. The transition of the traditional grid to the smart grid in emerging countries such as China and India is motivating the growth of the market. The technology is enabling end-users to manage distributed renewable energy in an efficient manner, which is probable to support market growth over the predicted period.
Reduction in long terms maintenance and operational cost and improved energy efficiency is the more factors motivating the growth of the distribution automation market across the globe. As per the research conducted by MRFR, It is worth pointing out here that developing countries such as India and more are witnessing a considerable surge in distributed energy generation and that is leading a plethora of untapped opportunities promising in the market landscape.
The landscape of the global Distribution Automation Market is witnessing a slew of notable developments, which are shaping the future and overall appearance in a great way to cater to the ongoing COVID 19 pandemic. A respectable number of players in the market scene and their continuous investment are keeping the market stable amid deadly coronavirus outbreak worldwide. Activities such as product development, advancement in technology and rising investment in research and development to push innovation have notably motivated the market to snowball. Some more players are partnering with others to combine capabilities and exploring synergies to ensure the growth of the market in the future. One such case is a surge in the generation of renewable energy. This is leading to growth in the distribution automation system in an explosive way. In the total energy world, the share of renewable is escalating, thus driving the global distribution automation market up extensively. Besides, it has been eminent that existing infrastructure is ageing and that demands an upgrade is a good news for the distribution automation market to inflate optimistically in future.
The global Distribution Automation Industry is further studied over segments such as component and utility type.
Depending on the component segment, the market has included software & services, field devices, and communication technology. Among these, the field device segment might hold the largest share as these field devices are uniformly distributed within the distribution network to ensure timely data transmission and system integrity.
Depending on the utility type segment, the market has included private and public. The public segment is likely to expand with the highest CAGR during the assessment period as these utilities are government-owned and are offered grants by the government.
Over the forecast period, certain regions are set to carve out a significant chunk of the overall growth of the global distribution automation market. First is Europe and its market, where owing to rising investment levels in distribution automation has bolstered the growth. Besides, the mounting complexity in the infrastructure of this region is calling out for automation to manage distribution effectively. Moreover, there is a demand for bringing energy efficiency in the supply of power in Europe. The prime markets in the region for distribution automation are the United Kingdom (U.K.) France and Germany.
However, it is pertinent to note that the fastest-growing region would be that of Asia Pacific (APAC) over the forecast period for the global distribution automation market. The growth owes itself to countries such as China, Japan, and Australia. Besides, there is prompt industrialization that is marking the regional landscape more fruitful, thus propelling growth in the global distribution automation market.
The global distribution automation market is studied under a decent number of players. They are Siemens (Germany), ABB (Switzerland), Xylem (Sensus) (US), Eaton (Ireland), G&W Electric (US), S&C Electric (US), GE (US), Schneider Electric (France), Power System Engineering (US), Schweitzer Engineering Laboratories (US), Cisco (US), and Trilliant Holdings Inc. (US).
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