Power Distribution Automation Market to be Dominated by Public Utility Through 2028
Evolving communication and IoT technologies drive the Power
Distribution Automation market across the globe.
According to
TechSci Research report, “Power Distribution Automation Market – Global
Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F”, Evolving communication and
IoT (Internet of Things) technologies have been major drivers of the Power
Distribution Automation market worldwide. The Power Distribution Automation
market involves the automation of power distribution systems using technologies
such as sensors, smart meters, and communication networks. This allows for
real-time monitoring and control of the distribution system, which in turn
improves the efficiency, reliability, and safety of power distribution. The
evolution of communication and IoT technologies has enabled the development of
advanced Power Distribution Automation systems that are more efficient, dependable,
and cost-effective. For instance, the use of advanced communication networks
such as 5G has enabled real-time monitoring and control of power distribution
systems, which has improved the overall efficiency of the distribution process.
In addition, the use of IoT technologies has enabled the integration of various
devices and systems in the distribution network, allowing for a more
comprehensive and seamless monitoring and control system. For example, the use
of smart meters has enabled utilities to monitor power consumption and detect
anomalies in real-time, leading to better management of power distribution and
more accurate billing. Overall, the integration of evolving communication and
IoT technologies has been a major driver of the Power Distribution Automation
market worldwide.
Moreover, the increasing
smart city projects globally have led to the growth of the Power Distribution
Automation market across the globe. Smart cities are designed to integrate
advanced technology and data analytics to improve the quality of life for
citizens and enhance the efficiency of urban services. One of the key
components of smart cities is an advanced power distribution network that
utilizes automation and data analytics to optimize power distribution and
reduce energy waste. The Power Distribution Automation market is experiencing
significant growth as cities around the world invest in upgrading their power
grids to support smart city initiatives. Power Distribution Automation systems
provide real-time monitoring and control of power distribution networks,
allowing utilities to quickly detect and respond to power outages and other
issues. Additionally, Power Distribution Automation systems can optimize power
usage by automatically adjusting power flows and reducing energy waste.
Browse over XX market data
Figures spread through XX Pages and an in-depth TOC on the "Global Power Distribution Automation Market"
In terms of component, the Power Distribution
Automation market is categorized into field device, software & services,
and communication technology. Among the components, the field device category
is projected to hold a significant portion of the global market for Power
Distribution Automation during the forecast period. The major factors driving
the growth of the market for Power Distribution Automation are the growing
investments in refurbishing the ageing infrastructure and government
initiatives to promote the use of energy-efficient power generation resources.
Regionally,
the European market played a vital role in generating revenues in the global
Power Distribution Automation market, with countries like France, Germany and
UK being the key markets in the region. The market for Power Distribution
Automation in the European region is growing due to the increasing investments
in replacement of ageing power distribution infrastructure and the increasing
complexity in the region’s power distribution infrastructure. Also, the
Asia-Pacific Power Distribution Automation market is predicted to witness a
steady growth during the forecast period. The growth of the Asia-Pacific market
for Power Distribution Automation is due to the rapid industrialization in
China, Australia, and India. Overall, the increasing demand for smart city
infrastructure is driving the growth of the Power Distribution Automation
market across the globe, with a particular focus on regions such as North
America, Europe, and Asia-Pacific. As more cities invest in smart city
initiatives, the demand for advanced Power Distribution Automation systems is
expected to continue to rise in the coming years.
Key market players in the global
Power Distribution Automation market include:
- ABB Ltd.
- Siemens AG
- General Electric
Company
- Eaton Corporation
Inc.
- Schneider Electric
SE
- Cisco Systems,
Inc.
- Landis+Gyr
- S&C Electric
Company
- G&W Electric
Company
- Schweitzer
Engineering Laboratories, Inc.
Recent developments
- ABB launched its
new distribution automation solution called "ABB Ability™ Digital
Substation" in March 2021. The solution is designed to improve the
efficiency, reliability, and safety of power distribution systems.
- Siemens launched
a new power distribution automation solution called "SICAM A8000" in
October 2020. The solution is designed to provide real-time monitoring and
control of power distribution systems and is equipped with advanced
cybersecurity features.
- In September
2021, Schneider Electric announced a partnership with Cisco to integrate its
EcoStruxure platform with Cisco's Industrial Ethernet switches. The integration
is aimed at providing enhanced connectivity and cybersecurity features for
power distribution systems.
- General Electric
(GE) launched a new distribution automation solution called "GE D20MX
Substation Controller" in August 2021. The solution is designed to provide
real-time monitoring and control of power distribution systems and is equipped
with advanced cybersecurity features.
- Eaton announced
in September 2021 that it has acquired Tripp Lite, a leading provider of power
protection and connectivity solutions. The acquisition is aimed at expanding
Eaton's power distribution automation capabilities.
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““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.
“Power Distribution Automation Market – Global Industry Size,
Share, Trends, Opportunity, and Forecast, 2018-2028F, Segmented By Component
(Field Devices, Software & Services and Communication Technology), By
Utility (Public and Private), By Region, Competition,” has
evaluated the future growth potential of Power Distribution Automation and provides statistics and information on market structure,
size, share, and future growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in the global Power
Distribution Automation market.
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