Product ID: SQMIG45J2076
Global Distribution Automation Market Size, Share, Growth Analysis, By Component(Software, Field Devices), By Application(Private and public) - Industry Forecast 2024-2031
Report ID:
SQMIG45J2076 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
61 |
Figures:
75
Global Distribution Automation Market Insights
Global Distribution Automation Market size was valued at USD 11.45 billion in 2021 and is poised to grow from USD 11.76 billion in 2022 to USD 20.05 billion by 2030, growing at a CAGR of 6% in the forecast period (2023-2030).
Distribution Automation (DA) is a set of technologies and protocols that monitor and regulate electrical distribution systems without human intervention. These technologies & protocols include sensors, processors, switches and communications. It can improve the efficiency of the distribution system by saving system and energy. Also, it improves distribution system reliability by reducing the frequency and length of power outages. It also improves flexibility by allowing the use of more distributed energy sources. In addition, DA devices offer operational and maintenance benefits such as increased reliability by reducing the length of outages through the use of auto restoration systems.
The evolution of IoT and correspondence innovation will drive industry development. New technological advancements in IoT and specialized gadgets are expected to boost interest in DAS innovation over the forecast time frame. Siemens (Germany) has released 'MindSphere', a smart Internet of Things (IoT) architecture. MindSphere is a cloud-based open IoT working framework that connects items, establishments, frameworks, and hardware and enables administrators to use advanced inspections. MindSphere provides a comprehensive set of association standards for gadgets and business applications, modern applications, and refined examination applications. Mergers and acquisitions of central members are measures to accelerate industry growth. Bi-directional network speculation is expected to provide valuable learning opportunities for companies in the global distribution automation market. Schneider Electric Smart bi-directional networks or Grids of the Future Management at Enlit Europe will be available in December 2021.
The growing adoption of sophisticated computerized power supply innovation is expected to provide valuable learning opportunities for companies in the global distribution automation market. In December 2021, ABB India collaborated with Indore Smart City Development Limited to deliver state-of-the-art computerized innovations that enable the uninterrupted power supply to homes and institutions. Players from various industries are constantly fascinated by natural and inorganic expansion initiatives to increase the reach and spread of their goods across the globe, thus rapidly using this type of appropriation framework. For example, in September 2019, G&W Electric purchased Tozzi Electrical Equipment to expand business areas worldwide and, as a result, further enhance its power network solutions to meet IEC requirements. The high installation costs of distribution automation systems are expected to hamper the market growth.
US Distribution Automation Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Distribution Automation Market Report Snapshots
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