Transparency Market Research
Distribution automation system may refer to an arrangement of communication technologies, sensors, and processors that helps in organizing and screening the distribution of power. These systems are the mainstay of the modern power grid framework. Electric power distribution automated systems help increase the efficiency of operations.
Rise in the number of funding initiatives and increase in adoption of smart grids are anticipated to be key factors driving the global electric power distribution automated system market. Funding initiatives are mostly associated with transmission and distribution of electricity. Replacement of aging infrastructure across the world is also anticipated to boost the electric power distribution automated system market. Furthermore, emergence of smart cities, which require automation at all levels in utilities, is projected to boost the market. Utilities such as hospitals, hotels, offices, and data centers are expected to boost market growth.
High investment required to refurbish or replace the existing power infrastructure is expected to be a major restraint of the market during the forecast period. Furthermore, the high cost of maintenance is anticipated to hamper the electric power distribution automated system market.
The global electric power distribution automated system market can be segmented based on implementation, application, and geography. In terms of implementation, the market can be segmented into substation automation, feeder automation, and consumer side automation. The substation automation segment is estimated to hold major share of the market in the near future owing to the large-scale usage in energy and power utilities which help them reduce distribution and transmission losses. In terms of application, the market can be divided into industrial, commercial, and residential. The industrial segment is projected to account for larger share of the market during the forecast period owing to the increase in need of installing electric power distribution automated systems across the industrial sector.
In terms of geography, the market can be split into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is likely to constitute prominent share of the global electric power distribution automated system market, with the U.S. accounting for large share of the revenue owing to the country’s plan to improve its existing power infrastructure. In terms of CAGR, Asia Pacific is expected to emerge as a rapidly growing region of the electric power distribution automated system market in the near future. This can be ascribed to the new technological and infrastructure developments in countries such as China and India. Increase in number of smart city projects in the region is also anticipated to add to the market growth in Asia Pacific. Additionally, increase in disposable income and rise in population have led to a rise in purchase of houses, thereby augmenting the demand for power. Growth in industrialization in Asia Pacific is also estimated to drive the demand for electric power distribution automated systems in the region. South America and Middle East & Africa are projected to constitute minor share of the market in the near future. However, these regions are likely to invest significantly in projects in the near future.
Key players operating in the global electric power distribution automated system market are ABB Group, Eaton Corporation Plc, Elster Solutions, G&W Electric Company, General Electric, Hubbell Power Systems, and Itron, Inc.
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