Press release
Electric Power Distribution Automation Systems Market Outlook for 2028
ELECTRIC POWER DISTRIBUTION AUTOMATION SYSTEMS MARKET
A recent study by Triton Market Research titled 'Global Electric Power Distribution Automation Systems Market' includes the Global Analysis and Forecasts by End-user (Commercial, Industrial, Residential), Implementation (Feeder Automation, Consumer Automation, Substation Automation), and Regional Outlook (the Middle East and Africa, Europe, North America, Asia-Pacific, and Latin America).
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Triton's report signifies that the global electric power distribution automation systems market is likely to grow at a CAGR of 7.05% between the years 2022 to 2028 while gathering revenue worth $47692.16 million by 2028.
Distribution automation systems are self-healing power systems that respond quickly to real-time events. Furthermore, introducing an automated system has eliminated the exposure caused due to manual handling of electric equipment, thereby reducing the loss of energy in the process. These factors have significantly accelerated the growth of the electric power distribution automation systems market.
On the other hand, electric power utilities globally face interoperability problems with respect to intelligent electronic devices. Also, SCADA systems are vulnerable to cyberattacks. These factors are hindering the market growth process.
The global electric power distribution automation systems market is bifurcated into end-user and implementation. Based on end-user, it is divided into commercial, industrial, and residential. On the other hand, the implementation segment consists of feeder automation, consumer automation, and substation automation.
Geographically, Asia-Pacific is estimated to have the fastest growth in the electric power distribution automation systems market over the forthcoming years. Developing countries in the region, such as China, India, Indonesia, Bangladesh, and others, have showcased a high demand for electricity.
The gradual development of rural areas in these nations, growth of industries, rise in population, development of commercial places, etc., are factors that have enhanced the electricity demand. This has boosted the demand for distribution automation systems, thereby escalating the development process of the market.
The leading companies in the global market include S&C Electric Company, G&W Electric Company, Schneider Electric, Honeywell International Inc, Itron Inc, Schweitzer Engineering Laboratories Inc, Siemens AG, Hubbell Power Systems, Oracle Corporation, General Electric Company, Mitsubishi Electric Corporation, Hitachi Ltd, Eaton Corporation plc, and ABB Ltd.
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Question & Answer: Electric Power Distribution Automation Systems Market
Question 1: What factors have significantly accelerated the growth of the global electric power distribution automation systems market?
Answer: Distribution automation systems are self-healing power systems that respond quickly to real-time events. Furthermore, introducing an automated system has eliminated the exposure caused due to manual handling of electric equipment, thereby reducing the loss of energy in the process. These factors have significantly accelerated the growth of the electric power distribution automation systems market.
Question 2: What elements hinder the growth of the electric power distribution automation systems market?
Answer: Electric power utilities globally face interoperability problems with respect to intelligent electronic devices. Also, SCADA systems are vulnerable to cyberattacks. These factors are hindering the market growth process.
Question 3: Which region is estimated to have the fastest growth in the global market?
Answer: Geographically, Asia-Pacific is estimated to have the fastest growth in the electric power distribution automation systems market over the forthcoming years. Developing countries in the region, such as China, India, Indonesia, Bangladesh, and others, have showcased a high demand for electricity.
The gradual development of rural areas in these nations, growth of industries, rise in population, development of commercial places, etc., are factors that have enhanced the electricity demand. This has boosted the demand for distribution automation systems, thereby escalating the development process of the market.
Question 4: What are the leading companies in the global electric power distribution automation systems market?
Answer: The leading companies in the global market include S&C Electric Company, G&W Electric Company, Schneider Electric, Honeywell International Inc, Itron Inc, Schweitzer Engineering Laboratories Inc, Siemens AG, Hubbell Power Systems, Oracle Corporation, General Electric Company, Mitsubishi Electric Corporation, Hitachi Ltd, Eaton Corporation plc, and ABB Ltd.
Related Report:
Global Distribution Transformers Market - https://www.tritonmarketresearch.com/reports/distribution-transformers-market
The global distribution transformers market is anticipated to advance at a CAGR of 7.57% from 2019 to 2027, while gathering $29101.23 million by 2027.
Distribution transformers can be found across various sectors such as industrial, residential, and commercial. The growing need for lower electricity levels in domestic residences and businesses has boosted the demand for distribution transformers.
Also, the digital transformation of utilities are leveraging the market to attain the projected growth over the coming years. However, issues pertaining to equipment standardization are obstructing the growth of the distribution transformers market.
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