Market Industry Trends

Wednesday, August 16, 2023

Distribution Automation Market Segmentation, Application, Technology, Analysis Research Report and Forecast to 2027

According to a research report "Distribution Automation Market by Component (Field Devices, Software, Services), Communication Technology (Wired Communication Technology, Wireless Communication Technology), Utility (Public, Private) and Region - Global Forecast to 2027" published by MarketsandMarkets, the global distribution automation market is estimated to be valued at USD 15.8 billion in 2022 (estimated year) and is projected to reach USD 28.1 billion by 2027 (forecast year); growing at a CAGR of 12.2% during the forecast period.

The distribution automation market has promising growth potential due to the rising deployment of smart grid technologies and increasing demand for the electricity in remote areas.

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Field Devices segment expected to dominate distribution automation market, by component, during the forecast period

The field devices segment holds the largest share of the distribution automation market. The large market share can be attributed to the advantage it offers such as the remote monitoring of distribution power grids to reduce the duration of power outages in Asia Pacific and Africa.

Wireless communication technology to witness fastest growth rate in distribution automation market, by communication technology, during forecast period

The distribution automation market, by communication technology, is divided into wired communication technology and wireless communication technology, wherein wireless communication technology accounts for the fastest growing with a higher CAGR. The growth is attributed to increase in government initiatives and technological advancements pertaining to distribution automation to improve and maintain high levels of service reliability and operating efficiency.

Private utility to witness fastest growth rate in distribution automation market, by utility, during forecast period

The distribution automation market, by utility, is divided into private and public, wherein public segment accounts for the largest share. Private is fastest growing segment during the forecast period, the growth is attributed to increase in government support by funding towards private players.

Asia Pacific to be fastest-growing distribution automation market during forecast period

In this report, the distribution automation market has been analyzed for five regions, namely, Asia Pacific, North America, Europe, South America and Middle East & Europe. North America is a significant contributor to the distribution automation market in the current scenario owing to the rapidly increasing cost-competitiveness of electricity, which enable consumers to have access to clean fuel through distributed energy sources.

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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of a few of the top players in the distribution automation market.

A few of the key players include ABB (Switzerland), General Electric (US), Eaton (Ireland), Schneider Electric (France), and Siemens (Germany).

Other dominant players include Landis+Gyr (Switzerland), Itron Inc (US), Hubbell (US), Xylem (US), Schweitzer Engineering Laboratories, Inc. (US), G&W Electric (US), S&C Electric Company (US), and Toshiba (Japan).

Wednesday, August 9, 2023

Carbon Footprint Management Market To Observe Exponential Growth By 2023-2028

According to a research report "Carbon Footprint Management Market Component (Solutions, and Services), Deployment Mode (On-premises, and Cloud), Organization Size (Corporates/Enterprises, Mid-Tier Enterprises, Small Businesses), Vertical & Region - Global Forecast to 2028" published by MarketsandMarkets, the global carbon footprint management market is estimated to grow at a CAGR 22.2% between 2023 to 2028 to reach a market size of USD 30.8 billion by 2028, from an estimated USD 11.3 billion in 2023. Implementation of COP27 targets to restrict global warming and an increase in demand for energy consumption by industries are expected to propel the growth of the global carbon footprint management market. Moreover, the swelling demand for energy consumption by industries is also positively impacting the growth of the carbon footprint management market.

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Cloud technology is expected to hold the largest share of the carbon footprint management market, by deployment mode

By deployment mode, the cloud segment of the carbon footprint management market is expected to be the largest during the forecast period. Businesses are opting for cloud-based solutions as they guarantee safety and security because of these advantages. Cloud deployment mode provides advantages such control over data, lower possibility of data loss, and absence of concerns about regulatory compliance. Moreover, cloud has lower deployment costs, and provides ease of execution, upgrades, and maintenance. All these factors are expected to drive the growth of this segment during the forecast period.

By vertical, the financial services segment is expected to be the fastest growing segment of the carbon footprint management market during the forecast period

The financial services sector, by vertical, of the carbon footprint management market is expected to grow at the highest CAGR between 2022 to 2028, owing to the opportunities in sustainable finance products such as sustainability-linked loans, green and transition bonds, sustainable investment funds, and insurance solutions. The banking, and the BFSI (banking, financial services, and insurance) sector as a whole, is IT intensive and the GHG emissions associated with financial institutions' investing, lending, and underwriting activities are on average over 700 times higher than their direct emissions. Moreover, financial institutions appear to be focused on low-carbon transition opportunities and are rapidly engaging to support and lead the transition to a low-carbon world, driving the fast growth of the segment in the market.

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North America is expected to dominate the carbon footprint management market

North America held a dominant position in the carbon footprint management market industry in 2022, and is expected to continue to do so throughout the forecast period as a result of the region's proactive efforts to reduce the effects of climate change. In line with this, the region has set strong NDC targets and enacted binding ESG disclosure regulations. Carbon footprint management solutions are expected to see considerable growth over the next few years.

To enable an in-depth understanding of the competitive landscape, the report includes profiles of some of the leading players, such as Schneider Electric (France), SAP (Germany), IBM (US), Salesforce (US) and ENGIE (France) along with other prominent vendors of carbon footprint management.

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Tuesday, August 8, 2023

Hybrid Power Solutions Market Recent Developments & Emerging Trends To 2028

According to a research report "Hybrid Power Solutions Market by System Type (Solar-Fossil, Wind-Fossil, Solar-Wind-Fossil, Solar-Wind, Others), Grid Connectivity (On-Grid, Off-Grid), Capacity (Upto 100kW, 100kW-1MW, Above 1MW), End User & Region - Global Forecast to 2028" published by MarketsandMarkets, the hybrid power solutions market is projected to reach USD 4.0 billion by 2028 from an estimated USD 2.4 billion in 2023, at a CAGR of 10.4% during the forecast period.

Hybrid power solutions are essential because they provide a reliable and stable energy supply by harnessing the benefits of both renewable sources and conventional energy, ensuring energy security, reducing environmental impact by reduction in carbon emissions, and supporting sustainable development across various sectors.

Browse 139 market data Tables and 53 Figures spread through 193 Pages and in-depth TOC on "Hybrid Power Solutions Market - Global Forecast to 2028"

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The Industrial, by end user, is expected to grow be the largest segment during the forecast period.

Based on end user, the hybrid power solutions market has been split into residential, commercial, and indusrials. The industrial segment is anticipated to be the largest during the forecast period. Industrial segment is growing in hybrid power solutions market due to the increased emphasis on meeting emission reduction targets and achieving environmental sustainability. Industrial facilities, characterized by higher energy demands and carbon footprints, find hybrid power solutions particularly compelling in aligning with their sustainability objectives and reducing environmental impact.

The 100kW-1MW segment, by capacity segment, is expected to grow at the second-highest CAGR during the forecast period.

This report segments the hybrid power solutions market based on capacity into three segments:upto 100kW, 100kW-1MW, and above 1MW. The 100kW-1MW segment is expected to be the second-fastest growing segment during the forecast period. The 100kW-1MW segment is growing more in the commercial sector due to its suitable power capacity for various operations and equipment, cost-effectiveness, and technological advancements, making it a preferred choice for businesses.

Asia Pacific is expected to be the largest region in the hybrid power solutions market

Asia Pacific is expected to be the largest hybrid power solutions market during the forecast period. The region's increasing focus on renewable energy, coupled with supportive government policies and incentives, has driven the development of significant solar-wind projects in the region, specifically India. These large-scale projects contribute to the rapid expansion of the hybrid power solutions market in the Asia Pacific, attracting investments, fostering innovation, and establishing the region as a key player in the global transition towards sustainable energy solutions.

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Some of the major players in the hybrid power solutions market are General Electric (US), Vertiv Group Corp. (US), Vestas (Denmark), Wärtsilä (Finland), and SMA Solar Technology AG (Germany). The major strategies adopted by these players include sales contract, product launches, investments, collaborations, partnerships, and expansions.