Distribution Automation Market Overview:
Distribution Automation Market is anticipated to worth USD 19.24 billion by 2028, with a CAGR of 7.31% during the ongoing forecast period of 2021-2028.
The global distribution automation market is growing at a rapid pace. Some of the critical functions of distribution automation systems include asset optimization, demand optimization, distribution optimization, and distribution control analysis. Rapid adoption of these systems in commercial, industrial, and residential sectors for remote monitoring and control of electrical loads on power distribution systems and equipment are major distribution automation market trends.
The energy industry has significantly evolved in recent years, mainly due to the rising deployments of digital grids. Augmenting demand from the power industry is a major factor substantiating the size of the market. Besides, technological advances, such as e-mobility software, energy dashboard, automation, and energy consulting protection devices drive the market growth. Rapid industrialization in developing countries creates vast market demand.
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With substantial investments in developing programmable logic controllers (PLCs), distributed control systems (DCSs), and microgrids, the market is projected to garner substantial traction in the years to come. According to Market Research Future (MRFR), the global distribution automation market is expected to grow exponentially by 2027, registering an impressive CAGR during the forecast period (2020-2027).
Increasing demand for reliable power supply and uses of smart or intelligent electronic devices, alongside heavy investment in smart grid technologies, influence the market growth significantly. Increased numbers of substation utilities across the globe is another factor pushing the demand in the distribution automation market. Additionally, the rising emphasis on renewable energy would unlock value and contribute to the fields of electrification, automation, and digitalization.
Distribution Automation Market – Segments
The distribution automation market analysis is segmented into components, utility types, and regions. The component segment is sub-segmented into field devices, software services, and communication technology. Of these, the field device segment accounts for the largest share due to their uniformly distributed network ensuring timely data transmission and system integrity.
The utility type segment is sub-segmented into private and public. Of these, the public segment accounts for the largest share as these utilities are government-owned and are offered grants by the government. By regions, the report is sub-segmented into the Americas, Asia Pacific, Europe, and rest-of-the-world.
Distribution Automation Market – Regional Analysis
North America leads the global distribution automation market. Increasing activities in terms of smart grid infrastructure is one of the major factors boosting the distribution automation market size in the region. Vast investments in smart grid technology directly impact the distribution automation market growth, playing a vital role in the entire power distribution network. Besides, increasing unconventional resources from the US and Canada drive the region’s distribution automation market share.
Asia Pacific is another lucrative market for distribution automation systems. The market is driven by rising infrastructural development activities and major electrification projects in the region. Additionally, the continually rising energy demand in developing countries such as China and India fosters the distribution automation market growth. The industrial output in the region has been growing at a tremendous rate in the last five years and is expected to continue its growth during the forecast period.
Major Players
Players leading the global distribution automation market include Siemens (Germany), ABB (Switzerland), Eaton (Ireland), SC Electric (US), Xylem (Sensus) (US), GW Electric (US), GE (US), Schneider Electric (France), Schweitzer Engineering Laboratories (US), Landis+Gyr (Switzerland), Power System Engineering (US), Cisco (US), and Trilliant Holdings Inc. (US).
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Distribution Automation Market – Competitive Analysis
Highly competitive, the distribution automation market appears fragmented due to the presence of several well-established players. To gain a larger competitive share, industry players incorporate strategic initiatives such as mergers acquisitions, collaborations, expansion, and product/ technology launch.
Industry/ Innovation/ Related News
May 25, 2021 ---- Salt River Project (SRP), a leading electricity provider, announced its partnership with Emerson to reliably manage its distribution power grid, optimize operations and incorporate a growing supply of distributed energy resources. Emerson’s OSI digital grid solutions and smart grid technologies would coordinate the utility’s distribution operations.
This deal will provide SRP with an enhanced technology platform to optimize grid asset utilization and implement advanced grid operations. This project is part of SRP’s multi-year plan to address next-generation grid challenges, including managing sustainable and fast-expanding distributed energy resources such as solar panels, wind turbines, cogeneration plants, and bidirectional power flow more intermittent sources of power into the system.
