Press release
Global Electric Power Distribution Automation Systems Market 2022- 2028
Global Electric Power Distribution Automation Systems market
It further discusses the Market Summary, Industry Outlook, Impact of COVID-19, Key Insights, Porter's Five Forces Model, Key Impact Analysis, Market Attractiveness Index, Vendor Scorecard, Industry Components, Regulatory Framework, Key Market Strategies, Drivers, Challenges, Opportunities, Competitive Landscape, Research Methodology & Scope, Global Market Size, Forecasts & Analysis (2022-2028).
Triton Market Research's report shows that the global electric power distribution automation systems market would expand with a 7.05% CAGR during the evaluated years from 2022 to 2028.
Request a Free Sample Report on the Global Electric Power Distribution Systems Market: https://www.tritonmarketresearch.com/reports/electric-power-distribution-automation-systems-market#request-free-sample
Electric power distribution systems deliver electricity to consumers. They are at the final stage in an electrical power system, which provides electricity to the load. The growing reliability of distribution automation systems across various industries and households has increased their demand. Besides, the increased requirement for electricity in commercial places and the rise in the demand for energy-efficient electricity & fault detection have boosted this market's growth.
However, the lack of adoption tools for operational planning and security concerns regarding increased cyberattacks & threats are hampering the market's growth.
Globally, North America is leading the global electric power distribution automation systems market and is expected to uphold its position in the forthcoming years. The growth is attributed to the rising demand for energy across the industrial, residential, and commercial markets. Additionally, top players in the market, such as General Electric Company, Siemens AG, and others, are collaborating with government agencies to supply and maintain power distribution systems across different states in the region, thus expanding the market's growth.
The notable companies listed in the global market include Oracle Corporation, Honeywell International Inc, S&C Electric Company, Schweitzer Engineering Laboratories Inc, Mitsubishi Electric Corporation, Itron Inc, Hubbell Power Systems, Schneider Electric, G&W Electric Company, General Electric Company, Hitachi Ltd, Siemens AG, Eaton Corporation plc, and ABB Ltd.
The top players in the market exercise a dominant position owing to the majority of the market share under them. This, in turn, lowers the opportunities for new companies wanting to enter the market.
Also, the established names in the market use mergers and acquisitions as a growth strategy, which intensifies the level of competition. Increased R&D investments also form a part of their core business strategy, with the companies focusing on providing a diversified product range for several end-use sectors.
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