Power Distribution Automation Market to Grow at CAGR of over 7% during 2019-2024
Increasing demand for
renewable power generation coupled with favorable government initiatives to
promote renewable power to accelerate global power distribution automation market
through 2024
According to a recent report published by TechSci
research on “Global Power
Distribution Automation System Market By Component, By Utility, By Region,
By Company, Competition, Forecast & Opportunities, 2024”, global power
distribution automation market is projected to grow at a CAGR of over 7% until
2024, on the back of increasing renewable power generation and increasing
electricity demand. Moreover, the market for power distribution automation is
further aided by the rising need for energy efficiency, protection and
immediate fault detection in the power distribution network.
Browse 7 market data Tables and 126 Figures
spread through 137 Pages and an in-depth TOC on " Global Power Distribution Automation System"
https://www.techsciresearch.com/report/global-distribution-automation-market/3333.html
By
utility, the public utility category accounted for the largest share of the power
distribution automation market in 2018 and it is projected to remain as the
largest category throughout the forecast period as well. The growth of this
segment is majorly attributable to the noteworthy grants given by the
government to improve the distribution system of public utilities. The grants
offered by the government will help in modernizing the grid, which in turn, will
boost the demand for distribution automation.
Download Sample Report @ https://www.techsciresearch.com/sample-report.aspx?cid=3333
Customers can also request for 10% free
customization on this report.
Among regions, Asia-Pacific power
distribution automation market is predicted to grow at the fastest rate during
the forecast period. The demand for power distribution automation system in
Asia-Pacific is fueled by increasing populace, urbanization and rapid
industrialization. Among the Asia-Pacific countries, Japan and China are anticipated
to account for a significant share of the global power distribution automation
in the coming years. Utilities in these nations require the renewal of an outdated
obsolete distribution management system.
“Global power distribution automation market
is anticipated to witness growth during the forecast period. The growth in the
market can be attributed to the advancements in IoT & communication
technologies and upgradation of ageing distribution infrastructure across the
globe. Moreover, rising need for energy efficiency and increasing focus
of governments on enhancing grid
efficiency would further steer growth in the market.” said, Mr. Karan Chechi Research
Director with TechSci Research, a research based global management consulting
firm.
“Global Power Distribution Automation
System By Component, By Utility, By Region, By Company, Competition, Forecast
& Opportunities, 2024,” has evaluated the future growth potential of
the global Power Distribution Automation market and provides statistics and
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment evaluation. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges and
opportunities in the global Power Distribution Automation market.
About
TechSci Research
TechSci Research is a leading global
market research firm publishing premium market research reports. Serving 700
global clients with more than 600 premium market research studies, TechSci
Research is serving clients across 11 different industrial verticals. TechSci
Research specializes in research-based consulting assignments in high growth
and emerging markets, leading technologies and niche applications. Our
workforce of more than 100 fulltime Analysts and Consultants employing
innovative research solutions and tracking global and country specific high
growth markets helps TechSci clients to lead rather than follow market trends.
Contact
Mr.
Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: [email protected]