According to the market report published by
MarketsandMarkets™ "Distribution
Automation Market by Component (Field Device (Smart Meters, Voltage
Regulators, and Smart Sensors), Software & Services, Communication
Technology (Wired, and Wireless)), Type of Utility (Public, Private), and
Region - Global Forecast to 2023", the distribution automation market
is expected to grow from an estimated market size of USD 11.82 billion in 2018
to USD 16.81 billion by 2023, at a CAGR of 7.29% from 2018 to 2023. The global
market is set to witness significant growth because of the increasing renewable
power generation and need for energy efficiency. Advancements in IoT and
communication technologies present a significant opportunity for the
distribution automation market.
Field Device: The largest segment, by component,
during the forecast period
The field device segment is expected to hold the major
share of the distribution automation market during the forecast period. Growing
investments in refurbishing the ageing infrastructure and government
initiatives to promote the use of energy-efficient power generation resources
are the major factors driving the distribution automation market in the
European region. The European market players, such as ABB, Schneider Electric,
and Eaton are involved in the manufacturing of field devices. These factors
have resulted in the highest market share of the field device segment in the
distribution automation market.
Browse and
in-depth TOC on “Distribution
Automation Market”
68
- Tables
29
- Figures
134
- Pages
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Scope of the Report:
By Component
·
Field Device
·
Software & Services
·
Communication Technology
By Type of
Utility
·
Public Utility
·
Private Utility
By Region
·
Europe
·
North America
·
Asia Pacific
·
South America
·
The Middle East & Africa
The public utility segment accounts for the largest
share of the distribution automation market, by type of utility, during the
forecast period
The public utility segment is expected to be the largest market
for distribution automation, by type of utility, from 2018 to 2023. The factors
driving the market for distribution automation in the public utility include
significant efforts made by the government to extend the services of public
utilities. The grants offered by the government will help in modernizing the
grid, which in turn will boost the market for distribution automation.
Asia Pacific: The fastest-growing market for
distribution automation
In this report, the distribution automation market has been
analyzed on the basis of five regions, namely, Asia Pacific, North America,
Europe, South America, and the Middle East & Africa.
The distribution automation market in Asia Pacific is
driven by countries such as China, India, Japan, and Australia. Rapid
industrialization in India, China, and Australia is expected to drive the
implementation of distribution automation systems. These countries are
increasing renewable power generation to meet their growing energy demand.
According to the Renewable Energy Policy Network (REN21), China accounted for
45% of the total global investment for renewable power generation in 2017.
Increasing investments in renewable power would drive the market for
distribution automation in Asia Pacific.
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To enable an in-depth understanding of the competitive
landscape, the report includes the profiles of some of the key players in the distribution
automation market. These include Siemens (Germany), ABB (Switzerland), GE
(US), Schneider Electric (France), and Eaton (Ireland). The leading players are
trying to expand in developing economies and are adopting various strategies to
increase their market shares.
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