Dublin, Aug. 29, 2023 (GLOBE NEWSWIRE) -- The "Global Power Asset Management Market by Asset Type (Distribution Networks, Power Plants, Sub-Station), Component (Hardware, Software), Application - Cumulative Impact of COVID-19, Russia Ukraine Conflict, and High Inflation - Forecast 2023-2030" report has been added to ResearchAndMarkets.com's offering.
The Global Power Asset Management Market size was estimated at USD 9.21 billion in 2022, USD 10.35 billion in 2023, growing at a CAGR of 13.03% to reach USD 24.55 billion by 2030.
In this report, 2018 to 2021 are considered as historical years, 2022 is the base year, 2023 is the estimated year, and years from 2024 to 2030 are considered as forecast period.
The report considers the ongoing political and economic uncertainty in Eastern Europe caused by the Russia-Ukraine Conflict and its potential implications for demand-supply balances, pressure on pricing variants, and import/export and trading. Additionally, the report addresses the impact of High Inflation on the global economy and details fiscal policies measuring and reducing its effects on demand, supply, cash flow, and currency exchange.
The Market Share Analysis offers an insightful look at the current state of vendors in a particular market space. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share.
The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
The report provides insights on the following pointers:
- Market Penetration: Provides comprehensive information on the market offered by the key players
- Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
- Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
- Market Trends: Provides comprehensive understanding of the Cumulative Impact of COVID-19, the Russia-Ukraine Conflict, and the High Inflation
- Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
- Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
Market Segmentation & Coverage:
This research report categorizes the Global Power Asset Management Market in order to forecast the revenues and analyze trends in each of the following sub-markets:
- Based on Asset Type, the market is studied across Distribution Networks, Power Plants, Sub-Station, Transformers, and Transmission Lines. Distribution Networks is projected to witness a significant market share during the forecast period.
- Based on Components, the market is studied across Hardware and Software. The Software is projected to witness a significant market share during the forecast period.
- Based on Application, the market is studied across Asset Optimization, Maintenance & Repairs, Performance Monitoring, Predictive Maintenance, and Regulatory Compliance Management. Regulatory Compliance Management is projected to witness a significant market share during the forecast period.
- The Americas commanded the largest market share of 38.00% in 2022, followed by Europe, Middle East & Africa.
Market Dynamics
Drivers
- Rising investments in upgrading the aging utility infrastructure
- Rapidly increasing energy demand and adoption of green energy technologies
- Stringent government regulations and standards for power generation, transmission, and distribution
Restraints
- Capital intensive nature of advanced technology
Opportunities
- Emerging use of software analytics in grid optimization
- Integration of artificial intelligence, machine learning, and the Internet of Things (IoT) in power asset management
Challenges
- Lack of technical knowledge for installing and maintaining equipment
Companies Mentioned
- ABB Ltd.
- ABS Group
- Aclara Technologies LLC
- AFRY AB
- Cniguard Ltd.
- DNV GL
- Eaton Corporation
- Emerson Electric Co.
- Fujitsu Limited
- General Electric Company
- Getac Technology Corporation
- Hitachi Vantara LLC
- Infosys Limited
- International Business Machines Corporation
- Oracle Corporation
- PowerHub Inc.
- S&C Electric Company
- Schneider ElectricGetac
- Siemens AG
- Tridens d.o.o.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 197 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $10.35 Billion |
| Forecasted Market Value (USD) by 2030 | $24.55 Billion |
| Compound Annual Growth Rate | 13.0% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/p6qyht
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