Distribution Automation Global Market Report 2023: Evolving Communication and IoT Technologies Present Opportunities
DUBLIN, March 3, 2023 /PRNewswire/ -- The "Distribution Automation Market by Component (Field Devices, Software, Services), Communication Technology (Wired Communication Technology, Wireless Communication Technology), Utility (Public, Private) and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The distribution automation market is estimated to grow from USD 15.8 billion in 2022 to USD 28.1 billion by 2027, at a CAGR of 12.2% during the forecast period. The primary drivers of the market include the need for improved grid infrastructure.
Field devices, by component, are expected to be largest market from 2022 to 2027
The distribution automation market, by component, is bifurcated into field devices, software, and services. The field devices segment is expected to dominate in terms of CAGR during the forecast period and this dominance can be attributed to these devices enabling the utilities to remotely monitor and control the distribution system by automatically identifying and isolating faults and quickly restoring services.
Wireless communication technology to be the fastest-growing market from 2022 to 2027
The distribution automation market, by communication technology, is segmented into wired communication technology and wireless communication technology. The growth of the market for wireless communication technology is attributed to its ease of accessibility and increased efficiency.
Public, by utility, is expected to be largest market from 2022 to 2027
The distribution automation market, by utility, is bifurcated into public and private. The public segment is expected to be the largest market followed by the private during the forecast period. This dominance is because of these utilities are much more accountable and transparent, operate efficiently by keeping the cost down, and deliver reliable power supply.
Market Dynamics
Drivers
- Exponential Rise in Global Energy Consumption
- Growing Need for Improved Grid Infrastructure
- Increasing Renewable Energy Integration
Restraints
- High Capital Investment Required for Installation and Maintenance
- Technical Complexities Involved in Processing and Analyzing Large Volumes of Data
Opportunities
- Evolving Communication and IoT Technologies
- Increasing Smart City Projects Globally
Challenges
- Risk of Cybersecurity Attacks
- Lack of Standards and Interoperability
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Distribution Automation Market, by Component
7 Distribution Automation Market, by Communication Technology
8 Distribution Automation Market, by Utility
9 Distribution Automation Market, by Region
10 Competitive Landscape
11 Company Profiles
12 Appendix
Companies Mentioned
- ABB
- Eaton
- G&W Electric
- General Electric
- Gram Power
- Hubbell
- Ingeteam
- Itron Inc
- Kalki Communication Technologies Private Limited (Kalkitech)
- Landis+Gyr
- Minsait Acs
- Qualus
- S&C Electric Company
- Schneider Electric
- Schweitzer Engineering Laboratories, Inc. (Sel)
- Siemens
- Toshiba Energy Systems & Solutions Corporation
- Trilliant Holdings
- Xylem
- Ziv
For more information about this report visit https://www.researchandmarkets.com/r/vmdhdx
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