Distribution Automation Solutions Market | Scope, Drivers, Trends, and Challenges 2020-2024 | Technavio

Technavio has announced its latest market research report titled Global Distribution Automation Solutions Market 2020-2024 (Graphic: Business Wire)

LONDON--()--Scope of the report

This report provides a detailed analysis of the distribution automation solutions market by solution (field devices, communication systems, and software and services), deployment (system-level and customer-level), and geography (APAC, North America, Europe, South America, and MEA). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including ABB Ltd., CG Power and Industrial Solutions Ltd., Cisco Systems Inc., Eaton Corporation Plc, Emerson Electric Co., General Electric Co., Hitachi Ltd., Schneider Electric SE, Schweitzer Engineering Laboratories Inc., and Siemens AG. The increasing number of smart grid projects is a key trend in the global distribution automation solutions market which will lead to significant market growth. The growing need for efficient power distribution has increased the adoption of smart grids worldwide. Also, governments across the world are making significant investments towards the modernization of the utility sector. All these factors are leading to a positive outlook for the distribution automation solutions market.

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Distribution Automation Solutions Market: Segmentation by Geography

The market is segmented into five regions encompassing APAC, North America, Europe, South America, and MEA. APAC was the largest market for distribution automation solutions in 2019, and the region is expected to offer several growth opportunities to market vendors during the forecast period. About 36% of the market’s growth will originate from APAC during the forecast period. Rapid industrialization and urbanization have significantly increased the demand for power in APAC. In addition, the rising adoption of solar and wind power capacity in developing countries such as China has been contributing to the growth of the distribution automation solutions market in APAC. China and Japan are the key markets for distribution automation solutions in APAC.

Distribution Automation Solutions Market: Segmentation by Solution

The distribution automation solutions market is segmented into three segments based on solutions comprising of field devices, communication systems, and software and services. The field devices segment emerged as the leading solutions segment during 2019. It is the result of the nerve damage caused by diabetes. Growing adoption of automation in substations and feeder stations worldwide is driving the demand for remote fault indicators, smart relays, automated feeders switch and reclosers, automated capacitors, automated feeder and transformer monitors, and others. Also, the rising stringency of regulations regarding carbon emissions has increased the deployment of these components in the utility sector. These factors are creating significant growth potential in the segment.

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Distribution Automation Solutions Market: Growth Drivers

Aging power infrastructure and increasing power outage will drive market growth. Factors such as the growing energy demand, rising population, and aging power infrastructure have increased the stress on power grids. This is leading to power outages, which could significantly affect the productivity of end-users and the profitability of the utility sector. In addition, power distribution systems and networks in many countries are outdated and need to be equipped with automated components. These factors are expected to fuel the growth of the distribution automation solutions market size during the forecast period.

Distribution Automation Solutions Market: Market overview

The distribution automation solutions market is fragmented with the presence of several domestic and international players. Hence, companies need to adopt advanced technologies and marketing strategies to remain competitive in the market. ABB Ltd., CG Power and Industrial Solutions Ltd., and Cisco Systems Inc. are some of the major market participants. Though the accelerating growth momentum will offer immense growth opportunities, the lack of standardization will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

Market Sizing Methodology

Technavio uses a robust market sizing approach to estimate the total opportunity size for any market. Some of the examples of methodologies are shown for reference data is collected through both primary research (through industry interview with market participants and industry experts) as well as secondary research (through annual reports, press releases, company and industry presentations, industry associations, journals and in-house data repositories built over past 15 years)

Distribution automation solutions Market: Parent Market Overview

Technavio categorizes the global distribution automation solutions market as a part of the global electronic equipment and instruments market within the overall electronics market. The parent global electronics market includes manufacturers of communications equipment, technology hardware storage and peripherals, electronic equipment and instruments, electronic components, consumer electronics, and industrial electronics products, as well as electronic manufacturing services.

Growth in the global electronic equipment and instruments market will be driven by the increasing demand for electronic test and measurement equipment and rising demand for metrology equipment and services.

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Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: https://www.technavio.com

Release Summary

The Global Distribution Automation Solutions Market will grow by $ 6.86 bn during 2020-2024

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: https://www.technavio.com