Distribution Automation Market to accelerate at 6.57% CAGR, USD 8.35 Bn incremental growth expected during the forecast period | ZMR

Distribution Automation MarketThe global distribution automation market Due to increased renewable power generation around the world, the market was valued at $11.76 billion in 2018 and is expected to rise at a CAGR of over 7% from 2019 to 2024, reaching $17.94 billion by 2024. The market is also predicted to benefit from the demand for energy efficiency, as well as the need for quick fault detection and protection in the power distribution network. The global distribution automation market is expected to benefit from rising demand from the commercial sector, which includes hotels, hospitals, data centres, and workplaces. Furthermore, regulatory regulations to improve grid efficiency are encouraging the utility and energy sectors to use distribution automation technology.

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The global distribution automation market has been divided into three components: field device, software & services, and communication technology. During the forecast period, the field device category is likely to account for a considerable percentage of the global market for distribution automation. Field devices are an important component of the distribution network because they help to reduce losses caused by power outages and voltage fluctuations. The field devices segment would benefit from the increased use of field devices in distribution automation.

The European market, with nations like France, Germany, and the United Kingdom as significant markets, plays a critical role in generating revenues for the worldwide distribution automation market. The market for distribution automation in Europe is expanding, because to rising distribution automation investments and increased complexity in the region’s electricity distribution infrastructure. Due to increased industrialization in China, Australia, and India, the Asia-Pacific distribution automation market is expected to rise steadily over the forecast period.

Major distribution automation manufacturers are aiming to introduce technologically improved solutions and systems in order to meet rising consumer demand. This would aid merchants in standing out from their competitors and maintaining competition. Strategic alliances and collaborations, as well as investments in R&D, are some of the other significant methods used by leading market players to improve their present product portfolios and increase their market footprints. Some of the leading players in the global distribution automation market are Schneider Electric SE, General Electric Company, Schweitzer Engineering Laboratories Inc., ABB Ltd., etc.

The study’s goal is to:

● To estimate the size of the worldwide distribution automation market.
● The goal of this study is to forecast the global distribution automation market based on component, utility, and regional distribution.
● To determine the worldwide distribution automation market’s drivers and challenges.
● To investigate competitive developments in the worldwide distribution automation market, such as expansions, new product launches, mergers and acquisitions, and so on.
● To undertake a global distribution automation industry pricing analysis.
● To identify and analyse the key players in the global distribution automation market.

Some of the leading players in the global distribution automation market are Schneider Electric SE, General Electric Company, Schweitzer Engineering Laboratories Inc., ABB Ltd., Power System Engineering Inc., G&W Electric Company, Siemens AG, Cisco Systems Inc., Landis+Gyr, Eaton Corporation plc, etc.

The global distribution automation market has been split into the following categories in this analysis, in addition to the industry trends outlined below:

Distribution Automation Market by Product Type

● Monitoring and Control Devices
● Power Quality and Efficiency Devices
● Switching and Power Reliability Devices

Distribution Automation Market by Application

● Industrial
● Commercial
● Residential

For this work, the author conducted extensive primary and secondary research. Initially, the author compiled a global list of solution providers. The author then performed primary research surveys with the companies that had been identified. The interviewees were also asked about their competition during the interview. The author could use this strategy to add solution suppliers who could not be discovered due to secondary research limitations. The author looked at all of the major solution providers’ product portfolios, distribution networks, and global presence.

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