Distribution Automation Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020 - 2030
Distribution Automation Market – Overview
The distribution automation market has been estimated to grow at a noteworthy speed during the forecast period. These growth prospects in the market are owing to the enhancement of efficiency and reliability of the distribution system. In addition to this, reduced time of power outages has also been estimated to drive the growth prospects in the global market during the forecast period.
The majority of the power outrages are commonly caused due to weather-related damages to the overhead power lines. Equipment failure, human error, animal contact, and vehicle accidents are also serving as vital factors that contribute to power outages. Further, strong and ice winds also cause trees to fall on the power poles or lines and break them down. Distribution automation plays a crucial role in the prevention of outages. Furthermore, the communication devices, as well as sensors that are associated with distribution automation, facilitate the early detection of equipment that may not be working appropriately. It is helpful to prevent outright failure and thus enable the utility company to replace these devices. So, based on these advanced features, the global market is likely to expand at a noteworthy pace.
Distribution Automation Market – Key Drivers
Distribution automation is about intelligent distribution systems, which as completely flexible and controllable. It also facilitated the effective functioning of the smart grid. For utilities and consumers, the importance of the electric distribution system is pivotal. Further, the reliable electric supply is helpful to uplift economic development as well as growth, societal well-being, and public safety and health. So, in order to improve reliability and efficiency, utilities require real-time monitoring along with remote control of the systems and assets, for instance, distribution transformers, feeder switches, substations, capacitor banks, and voltage regulators. These factors further ensure an uninterrupted supply of power to targeted consumers. So, on the basis of these factors, the distribution automation market has been projected to grow at a noticeable speed in the forthcoming years.
The rising dependence on electrical equipment in rural areas is giving importance to the continuous supply of power. These factors are also predicted to fuel the growth opportunities in the global market in the following years.
Distribution Automation Market – Recent Developments and Key Players
The distribution automation market is nearly fragmented while considering numerous aspects. The market can also be characterized due to the presence of several industry players at the regional as well as international levels. Furthermore, these players are concentrating on certain strategies in order to achieve their desired subjects. Penetration in the global market and increasing consumer awareness of the brand are also some noteworthy points that are considered by these market players. The other significant trends in the global market include increased R & D activities to enhance existing technologies, mergers or tie-up, product portfolio expansion, and novel product launches. Along with these initiatives, the players from the market are putting efforts to enhance their services to make a wider reach to their consumers.
For instance, Electricite de France S.A. has established a partnership with NTPC in October 2021. The aim of this partnership is to further explore the opportunities for power project development in different regions, for instance Europe, Africa, Middle East, and Asia Pacific.
Siemens has launched a novel platform to design consumer specific applications in July 2020 for the distribution of grids.
Some of the key players in the distribution automation market are:
Distribution Automation Market – Regional Assessment
The distribution automation market has been bifurcated into North America, APAC, Europe, and the Rest of the World on the basis of geographical areas. Out of these regional areas, Europe has been predicted to hold a noteworthy share in the global market.
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