Distribution Automation Market worth $28.1 billion by 2027 - Exclusive Report by MarketsandMarkets™

CHICAGO, Feb. 16, 2023 /PRNewswire/ -- Distribution Automation Market is projected to reach USD 28.1 billion in 2027 from USD 15.8 billion in 2022 at a CAGR of 12.2% according to a new report by MarketsandMarkets™. The Distribution Automation Market has promising growth potential due to the rising deployment of smart grid technologies and increasing demand for the electricity in remote areas.

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Browse in-depth TOC on "Distribution Automation Market"

290 - Tables
59 - Figures
267 - Pages

Distribution Automation Market Scope:

Field Devices segment expected to dominate Distribution Automation Market, by component, during the forecast period

The field devices segment holds the largest share of the Distribution Automation Market. The large market share can be attributed to the advantage it offers such as the remote monitoring of distribution power grids to reduce the duration of power outages in Asia Pacific and Africa.

Wireless communication technology to witness fastest growth rate in Distribution Automation Market, by communication technology, during forecast period

The Distribution Automation Market, by communication technology, is divided into wired communication technology and wireless communication technology, wherein wireless communication technology accounts for the fastest growing with a higher CAGR. The growth is attributed to increase in government initiatives and technological advancements pertaining to distribution automation to improve and maintain high levels of service reliability and operating efficiency.

Private utility to witness fastest growth rate in Distribution Automation Market, by utility, during forecast period

The Distribution Automation Market, by utility, is divided into private and public, wherein public segment accounts for the largest share. Private is fastest growing segment during the forecast period, the growth is attributed to increase in government support by funding towards private players.

Asia Pacific to be fastest-growing Distribution Automation Market during forecast period

In this report, the Distribution Automation Market has been analyzed for five regions, namely, Asia Pacific, North America, Europe, South America and Middle East & Europe. North America is a significant contributor to the Distribution Automation Market in the current scenario owing to the rapidly increasing cost-competitiveness of electricity, which enable consumers to have access to clean fuel through distributed energy sources.

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Distribution Automation Market Dynamics:

Drivers:

1. Exponential rise in global energy consumption
2. Growing need for improved grid infrastructure
3. Increasing renewable energy integration

Restraints:

1. High capital investment required for installation and maintenance
2. Technical complexities involved in processing and analyzing large volumes of data

Opportunities:

1. Evolving communication and IoT technologies
2. Increasing smart city projects globally

Challenges:

1. Risk of cybersecurity attacks
2. Lack of standards and interoperability

Key Market Players:

To enable an in-depth understanding of the competitive landscape, the report includes the profiles of a few of the top players in the Distribution Automation Market.

A few of the key players include ABB (Switzerland), General Electric (US), Eaton (Ireland), Schneider Electric (France), and Siemens (Germany).

Other dominant players include Landis+Gyr (Switzerland), Itron Inc (US), Hubbell (US), Xylem (US), Schweitzer Engineering Laboratories, Inc. (US), G&W Electric (US), S&C Electric Company (US), and Toshiba (Japan). 

Recent Developments:

• In August 2022, Eaton and CyberArk collaborated to enhance the protection of utility transmission and distribution devices and networks. This collaboration delivers fully automated solutions to help utilities simplify a critical element of cybersecurity compliance for modern grid automation systems.
• In June 2022, Schneider Electric and Hitachi Energy collaborated to accelerate the deployment of sustainable and smart energy management solutions. Through this collaboration, both the companies would enhance their medium voltage and high voltage product portfolio to provide more comprehensive offerings to the customers.
• In July 2022, S&C Electric Company has opened a production facility in Franklin, Wisconsin. The production facility would support electric utilities in the energy transition and meet the growing demand for power in Wisconsin. The facility will be utilized for the production of IntelliRupter, PulseCloser, Fault Interrupter, Scada-Mate Switching Systems and automation controls.
• In May 2021, ABB introduced a protection relay REX610 to simplify protection and control basic power distribution applications. The product enables communication and operation access between substation automation devices and smart services in the ABB ability platform.

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Browse Adjacent Markets: Energy and Power Market Research Reports & Consulting

Related Reports:

Smart Grid Market - Global Forecast to 2026

Distributed Energy Resource Management System Market - Global Forecast to 2026

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