Market Overview
In 2019, the global Distribution Automation Market was projected to account for USD 12.4 billion of market revenue. Further, the market is registered to generate worth USD 19.24 billion during the research period. However, the global market is predicted to achieve a CAGR of 7.31% between the assessment period of 2021 to 2028.
The increasing need for energy efficiency is one of the major growth driving factors for the worldwide market for distribution automation. Moreover, there are other factors responsible for the market growth that includes high protection, rising renewable power generation, upgrade of aging power distribution infrastructure, and immediate fault detection facility in power distribution networks. In addition, the advancement in communication technologies and IoT is estimated to propel the global market growth during the forecast period.
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However, the global Distribution Automation Market might experience restraint due to the high initial installation cost in the deployment.
Market segmentation
Segmentally, the global Distribution Automation Market has been divided based on the components and utility types.
The market for distribution automation has been categorized based on various components such as technology, communication, and others (the software services and field service). In terms of the utility segment, the global distribution automation industry has been divided into public and private. In 2019, the public utility segment was predicted to register a larger market share. Further, this segment is expected to account for the larger market share during the forecast period due to the evolving customer preferences and increased regulation.
On the basis of utility types segment, the global Distribution Automation Market has been segregated into wired technology and wireless technology. Among these, the wireless segment is predicted to account for a higher CAGR in the analysis period. The demand for this segment is increasing because of its increased efficiency and ease of inaccessibility. Moreover, the wireless communication technology covers a large area, offering high bandwidth, and integral support to the utilities, which is increasing its demand across the world.
Regional Analysis
On the basis of regional segment, the global Distribution Automation Market has divided its target audience across the world, including Asia Pacific, Europe, North America, and the rest of the world.
Of these, the North American region is considered to lead the operations of the market for distribution automation throughout the forecast timeframe. The countries like Canada and US are highly contributing to the North American region, which is helping the regional market to generate the largest market share in the research timeframe. Even the investment is increasing for the current market industry, which is enhancing the market operation. Moreover, the market players of this region are focusing on merger and acquisition initiatives that are fuelling the industry growth in the review timeframe.
Top Companies
Schweitzer Engineering Laboratories
G&W Electric
S&C Electric
ABB
Cisco
Landis+Gyr
General Electric Company
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Industry News
In June 2021, the prominent key player Mitsubishi Electric declared its T-series 2.0kV IGBT (insulated gate bipolar transistor) with an aim to provide better services to all industries. This new innovation is best suitable to reduce the renewable energy power converters’ size and increase energy efficiency.
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