The distribution automation market is projected to grow at a CAGR of 7.29% from 2018 to 2023
LONDON, July 17, 2018 /PRNewswire/ -- The distribution automation market is projected to grow at a CAGR of 7.29% from 2018 to 2023.
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The distribution automation market is projected to reach USD 16.81 billion by 2023, from an estimated USD 11.82 billion in 2018, at a CAGR of 7.29% during the forecast period. The increasing renewable power generation has boosted the demand for distribution automation. Also, the need for energy efficiency, protection, and immediate fault detection in the power distribution network would further aid the growth of this market. However, the high initial cost of distribution automation system would act as a restraint for the distribution automation market.
The field device segment is expected to grow at the highest CAGR from 2018 to 2023.
The field device segment is expected to be the fastest-growing distribution automation market, by component, from 2018 to 2023.The increasing deployment of field devices in distribution automation will drive the field device segment.
Increasing investments in field devices, particularly in Asian countries such as China, India, Japan, and South Korea, will result in the higher market share of field device segment in distribution automation market.
Europe: The largest market for distribution automation
Europe is expected to be the largest market for distribution automation in 2018, followed by North America and Asia Pacific. Germany, UK, and France are expected to hold a significant share of the distribution automation market in the region because of increasing investments in smart grid projects.
The distribution automation market is growing at a rapid pace in countries such as Spain, Italy, and Denmark because of increasing smart grid investments with strong in-built T&D assets. These factors are expected to boost the growth of the distribution automation market in Europe.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants to obtain and verify critical qualitative and quantitative information as well as assess future market prospects. The distribution of primary interviews is as follows:
• By Company Type: Tier 1 - 70%, Tier 2 - 20%, and Tier 3 - 10%
• By Designation: C-Level - 50%, D-Level - 20%, Others - 30%
By Region: North America - 35%, Europe - 12%, Asia Pacific - 22%, Middle East & Africa- 21%, and South America - 10%,
Note: The tier of the companies has been defined on the basis of their total revenue; as of 2016: Tier 1 = >USD 10 billion, Tier 2 = from USD 1 billion to USD 10 billion, and Tier 3 =
The leading players in the distribution automation market are ABB (Switzerland), Siemens (Germany), Schneider Electric (France), GE (US), and Eaton (Ireland).
Research Coverage:
The report defines, describes, and forecasts the global distribution automation market by type of utility, component, and region.It also offers a detailed qualitative and quantitative analysis of the market.
The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market.
Why Buy this Report?
1. The report identifies and addresses key markets for distribution automation, which would help suppliers review the growth in the demand for the product.
2. The report helps solutions providers understand the pulse of the market and provides insights into drivers, restraints, opportunities, and challenges.
3. The report will help key players understand the strategies of their competitors better and will help in making strategic decisions.
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