Distribution Automation Market Is Expected to Reach $16.9 Billion by 2028, Says Vantage Market Research

WASHINGTON, Sept. 12, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the Global Distribution Automation Market finds that the increased electricity demand across the globe is accelerating market growth. In addition, the growing advancements in IoT and communication technology will likely expand the development of the Global Distribution Automation Market during the forecast period.

The Global Distribution Automation Market revenue is expected to reach a value USD 16.9 Billion in 2028.

The Global Market revenue was valued at USD 11.2 Billion in 2021 and is expected to grow to exhibit a Compound Annual Growth Rate (CAGR) of 7.2% during the forecast period; states Vantage Market Research, in a report, titled “Distribution Automation Market Size, Share & Trends Analysis Report by Components (Field Devices, Software, Services), by Communication Technology (Wireless, Wired), by Utility (Public, Private), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.

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Key Industry Findings & Insights from the report:

• The global Distribution Automation Market was valued USD 11.2 Billion in 2021 and is all set to surpass USD 16.9 Billion by 2028, exhibiting a CAGR of 7.2% during the forecast period 2022-2028.
• In terms of revenue, the application segment held the largest revenue share of in 2021 and is estimated to maintain its dominance for the forecast period.
• In terms of revenue, the product segment held the second largest market share of in 2021 and is estimated to grow rapidly during the forecast period.
• The growth can be attributed to rapid urbanization, technological advancement, an increase in investment by developing countries.
• Asia Pacific captured the lion share in 2021 and is projected to retain its position over the forecast period. This can be attributed to the existence of a significant number of Distribution Automation industry companies and the high adoption rate owing to government measures that stimulate this industry in this region. The growth is primarily due to the increasing collaborations.
  

List of Prominent Players in Distribution Automation Market:

• GE (US)
• ABB (Switzerland)
• Siemens (Germany)
• Schneider Electric (France)
• Itron (US)
• Landis & Gyr (Switzerland)
• Hubbell (US)
• CE Power Engineered Services (US)
• S&C Electric Company (US)
• Eaton (Ireland)
• Schweitzer Engineering Laboratories (US)
• G&W Electric (US)
• Xylem (US)
• Beckwith Electric (US)
• Toshiba (Japan)
• Mitsubishi Electric (Japan)
• Minsait ACS (US)
• Ingeteam (US)
• Kalkitech (India)
• Trilliant Holdings (US)

Market Dynamics:

Driver:

Worldwide Growth in Electricity Demand and Grid Infrastructures to Drive the Market Growth

Distribution Automation Market presents real-time operational notifications on the components of the distribution grid, like voltage regulators, fault detectors, switches, and capacitor bank controllers. Such notifications are further shared with the other intelligent field devices, and the Distribution Automation Market connects them with consumer transactions & transmission systems. The communication infrastructure needs of the Distribution Automation Market systems generally change based on service provider demands. The growth of the Global Distribution Automation Market can be attributable to the rapid rise in electricity demand and grid infrastructures worldwide. Moreover, the protection in the supply network, the high demand for energy efficiency, and instant fault detection are expected to prompt the need for this technology. Furthermore, mounting demand from residential, commercial, and industrial sectors and growing distributed energy generation across emerging economies will create new prospects for augmented technology adoption.

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COVID-19 Impact Analysis:

The COVID-19 outbreak has affected various industries worldwide, and the Global Distribution Automation Market is not an exception. Administrative bodies worldwide implemented curb measures, for instance, lockdown, to ensure strict social distancing norms to restrict the spread of the disease. Small and medium-scale industries, which are technology partners to the Distribution Automation Market companies, suffered an impact due to the pandemic. In addition, the Distribution Automation Market was also impacted by the restricted movement of goods and people due to the lockdown measures in place during the beginning stages of the COVID-19 spread.

Since the beginning of 2022, the supplies and workforce are expected to resume normal which will further bolster Distribution Automation Market industry coming back on track. Vantage Market Research, while performing the research on the topic for the Global Distribution Automation Market has considered the end-to-end impact of COVID-19 on the Global Distribution Automation Market. In addition, the study also deep dives into the after-effects of the COVID-19 pandemic on the subsidiary units of the Distribution Automation Market industry. Furthermore, the study also does an exhaustive analysis while estimating the present and the future market size for the Global Distribution Automation Market industry primarily based on the aforementioned data points:

1. Impact Assessment of COVID-19 Pandemic

a. North America

b. Europe

c. Asia Pacific

d. Latin America

e. Middle East & Africa

2. Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021

3. Key Strategies Undertaken by Companies to Tackle COVID-19

4. Long-Term Dynamics

5. Short-Term Dynamics

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The report on Distribution Automation Market highlights:

• Assessment of the market
• Premium Insights
• Competitive Landscape
• COVID Impact Analysis
• Historic Data, Estimates, and Forecast
• Company Profiles

Regional Analysis:

Asia Pacific is Leading the Global Distribution Automation Market

In terms of region, Asia Pacific holds the largest market share in the Global Distribution Automation Market. This can be attributable to the major factor, such as the growing demand for Distribution Automation Market solutions because of the increased investment avenues for smart grid projects. Moreover, the region will observe recognition for Distribution Automation Market arrangements due to growth in interest in savvy network projects. Also, the mounting consumer awareness of green energy and the rapid urbanization will propel market growth. Besides, the largest contributors in this market include nations like China, Japan, and Australia. The rise in distributed energy generation in emerging economies like India will offer prospects for the Distribution Automation Market.

Browse market data Tables and Figures spread through 142 Pages and in-depth TOC on "Distribution Automation Market Size, Share & Trends Analysis Report by Components (Field Devices, Software, Services), by Communication Technology (Wireless, Wired), by Utility (Public, Private), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)".

Recent Developments:

June 2021: GE Digital, a subsidiary of the American multinational conglomerate corporation General Electric, announced it is adding Proficy Operations Analytics to its industry-leading Proficy suite of software solutions to augment digitization with the support of modernization, enterprise visibility and scalability, and continuous development with new cloud-based predictive analytics.

Key Questions Answered in The Report:

• Which region will show the fastest and highest growth in the near future?
• Which are the top five players and their weakness and strength of the Market?
• What will be the future innovation in the upcoming six years?
• Which application and product will lead the largest share of the Market?
• What are the growth drivers, restraints and challenges of the industry?
• What will be the CAGR and size of the Distribution Automation Market for the base year and forecast period?

This market titled “Distribution Automation Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:

Customization of the Report:

The report can be customized as per client needs or requirements. For any queries, you can contact us on sales@vantagemarketresearch.com or +1 (202) 380-9727. Our sales executives will be happy to understand your needs and provide you with the most suitable reports.

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