Global Distribution Automation Market Growing Demand 2018 to 2023


Posted July 5, 2018 by ankit93

Distribution Automation Market by Component , Software & Services, Communication Technology (Wired, and Wireless), Type of Utility (Public, Private), and Region - Global Forecast to 2023

 
The Global Distribution Automation Market is estimated to be USD 11.82 billion in 2018 and is projected to grow at a CAGR of 7.29% from 2018 to 2023, to reach a market size of USD 16.81 billion by 2023. The distribution automation market is driven by the increasing share of renewable energy resources in the total energy mix. Upgrade of ageing distribution infrastructure is expected to boost the demand for distribution automation. In addition, advancements in IoT and communication technologies can create opportunities for the distribution automation market.
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The report segments the distribution automation market, by type of utility, into public and private utility. The public utility segment is estimated to lead the Distribution Automation Market in 2018. Also, it is projected to grow at the fastest rate during the forecast period because of government grants offered to public utilities. This is likely to boost the overall public utility market.
Based on component, the field device segment accounted for the largest market share in 2017. Field devices are crucial elements in the distribution automation ecosystem. Distribution automation field devices can be broadly classified into voltage regulators, smart meters, smart sensors, automated capacitors, remote fault indicators, smart relays, and smart reclosers. Smart meters can automatically read the meter (readings) and control and update the meter points. The key function of voltage regulators is to increase or decrease voltage levels in electrical management systems. All these features offered by major field devices are expected to drive the field device segment of the distribution automation market, by component.
To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the key players in the distribution automation market. These include Siemens (Germany), ABB (Switzerland), GE (US), Schneider Electric (France), and Eaton (Ireland). The leading players are trying to expand in developing economies and are adopting various strategies to increase their market shares.
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High initial cost of distribution automation has adversely affected the demand for Distribution Automation. Many utilities, which do not have advanced communication network in the grid, are still reluctant to use the distribution automation technology. Moreover, the use of distribution automation technology increases capital expenditure on additional hardware components in the distribution network. However, this trend is likely to change in the coming years. Distribution automation helps reduce maintenance cost and offers high efficiency, thereby improving the operations within the utility sector and resulting in high level of reliability and efficiency of power in the distribution network.
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Issued By Markets and markets
Country United States
Categories Energy
Tags distribution automation market
Last Updated July 5, 2018