Press release
Distribution Automation Market to Grow with 7.4% CAGR and Crossing USD 21.9 Billion Size by 2029 | Key Players - American Electric Power, Cooper Power Systems, Pacific Gas
Based on previous market performance, the Distribution Automation market is expected to reach USD 21.9 billion in size by 2028. With a 7.4% CAGR.Distribution Automation Market Overview:
The distribution automation systems (DAS) are made up of a number of hardware and software components. To increase the operational effectiveness of the power supply, a utility might evaluate, gather, optimize, and automate data. Switches, CPUs, sensors, and communication network equipment are examples of hardware devices. These tools guarantee precise supply network monitoring, protection, control, and maintenance. The potential for business is being strengthened by the increase in electricity demand caused by the growing population and the ongoing need to upgrade the current distribution network to increase energy efficiency.
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Global grid infrastructure expansion and rising electricity demand are predicted to create new business opportunities. The demand for technology will be fueled by the need for protection in the supply network, quick defect detection, and energy efficiency. Additionally, expanding distributed energy generation, particularly in emerging nations, and expanding demand from the residential, commercial, and industrial sectors will open up new opportunities for expanding technology adoption.
Based on our expert's analysis the players that are leading the market includes: American Electric Power, Cooper Power Systems, Dominion Virginia Power, Électricité de France, General Electric Corporation, Pacific Gas and Electric Company, Siemens AG, S & C Electric Company, and Schneider Electric SA and Others.
The whole market is segmented as follows:
Distribution Automation Market by Component, 2019-2028, (In USD Million)
Field Devices
Software
Services
Distribution Automation Market by Communication Technology, 2019-2028, (In USD Million)
Wired
Wireless
Industry Developments:
In order to support modernization, continuous improvement, enterprise visibility, and scalability with new cloud-based predictive analytics, GE announced in June 2021 that it is adding Proficy operations analytics to its market-leading Proficy suite of software solutions. This will increase digitization. A self-provisioning, ready-to-deploy SaaS-based predictive operations center for AI and industrial IoT, Proficy operations analytics.
A new version of the REX640 protection relay was introduced by ABB Switzerland in March 2020, enhancing communication security and flexibility in the power generating and distribution sectors.
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Distribution Automation Market' s top organizations are operating in a dynamic set-up, wherein they are required to incorporate unprecedented advances to reap benefits from the latest and upcoming information technologies and industry trends.
Regional Analysis:
This report is segmented into several key Regions, with production, consumption, revenue and market share and growth rate of Distribution Automation Market. These regions, from 2022 To 2029, covering North America, Europe, China, Japan, Southeast Asia, India, North America (USA, Canada and Mexico) Europe (Germany, France, UK, Russia and Italy) Asia-Pacific (China, Japan, Korea, India and Southeast Asia) and ROW.
Our Market Intelligence reports give our clients the information they need to maintain a competitive edge in the marketplace. Competitor Analysis and Profiling studies delve further into a company's competitive strengths and shortcomings. Market assessments conducted by SIS reveal market opportunities, size, and viability.
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