Press release
Electric Power Distribution Automation Systems Market Analysis for 2028
ELECTRIC POWER DISTRIBUTION AUTOMATION SYSTEMS MARKET
A recent study by Triton Market Research titled 'Global Electric Power Distribution Automation Systems Market' by Implementation (Feeder Automation, Substation Automation, Consumer Automation), End-user (Industrial, Commercial, Residential), and Regional Outlook (Europe, the Middle East and Africa, Asia-Pacific, North America, and Latin America).
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According to Triton's Market Research, the global electric power distribution automation systems market is expected to witness growth at a CAGR of 7.05% over the forecasted years 2022-2028, attaining revenue worth $47692.16 million by 2028.
An aging infrastructure is a major issue that has negatively impacted the power industry as a whole. Such an issue is resolved with investments in infrastructure upgrades or replacement. Automation has made distributed energy profitable through the modernization of grid infrastructure. An aging infrastructure is faced with a multitude of challenges requiring a thoughtful approach, such as the use of electric power distribution automation systems. This acts as a growth driver for the studied market.
On the other hand, the implementation of SCADA systems poses a threat to the market growth. This is because their operation is complicated and the unique character of SCADA across many industry verticals and applications requires technical understanding.
The electric power distribution automation systems market is categorized into implementation and end-user. The implementation segment is divided into feeder automation, substation automation, and consumer automation. The end-user segment is summarized into industrial, commercial, and residential.
Globally, North America is leading the market and is expected to continue its stronghold over the market until 2028. The region witnesses a growing demand for energy in commercial, industrial, and residential sectors, which further surges the demand for electric power distribution automation systems. Further, in January 2022, Eaton launched 5PX G1 UPS for the North American market, in order to improve the cybersecurity and connectivity of its legacy technology. This will be highly suitable for its end-users across various sectors. Such factors are supporting the growth of this regional market.
The key players in the global market include Oracle Corporation, Honeywell International Inc, G&W Electric Company, Schneider Electric, S&C Electric Company, Siemens AG, ABB Ltd, General Electric Company, Schweitzer Engineering Laboratories Inc, Hitachi Ltd, Hubbell Power Systems, Itron Inc, Eaton Corporation plc, and Mitsubishi Electric Corporation.
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Question & Answer: Electric Power Distribution Automation Systems Market
Question 1: What factors contribute to the growth of the global electric power distribution automation systems market?
Answer: An aging infrastructure is a major issue that has negatively impacted the power industry as a whole. Such an issue is resolved with investments in infrastructure upgrades or replacement. Automation has made distributed energy profitable through the modernization of grid infrastructure. An aging infrastructure is faced with a multitude of challenges requiring a thoughtful approach, such as the use of electric power distribution automation systems. This acts as a growth driver for the studied market.
Question 2: What factors impede the demand for electric power distribution automation systems?
Answer: The implementation of SCADA systems poses a threat to the market growth. This is because their operation is complicated and the unique character of SCADA across many industry verticals and applications requires technical understanding.
Question 3: Which region is leading the growth of the global electric power distribution automation systems?
Answer: Globally, North America is leading the market and is expected to continue its stronghold over the market until 2028. The region witnesses a growing demand for energy in commercial, industrial, and residential sectors, which further surges the demand for electric power distribution automation systems. Further, in January 2022, Eaton launched 5PX G1 UPS for the North American market, in order to improve the cybersecurity and connectivity of its legacy technology. This will be highly suitable for its end-users across various sectors. Such factors are supporting the growth of this regional market.
Question 4: What are the key players in the global electric power distribution automation systems market?
Answer: The key players in the global market include Oracle Corporation, Honeywell International Inc, G&W Electric Company, Schneider Electric, S&C Electric Company, Siemens AG, ABB Ltd, General Electric Company, Schweitzer Engineering Laboratories Inc, Hitachi Ltd, Hubbell Power Systems, Itron Inc, Eaton Corporation plc, and Mitsubishi Electric Corporation.
Purchase this Report @ https://www.tritonmarketresearch.com/reports/electric-power-distribution-automation-systems-market#purchase-option
Related Report:
Global Distribution Transformers Market : https://www.tritonmarketresearch.com/reports/distribution-transformers-market
The global distribution transformers market is projected to surge at a CAGR of 7.57% during 2019-2027, while gaining $29101.23 million worth of revenue by 2027.
A distribution transformer is used when low-voltage electrical energy is required. These step-down transformers work at low efficiency, are easy to install and offer low magnetic losses. The growing focus on electrical safety & environmental protection, implementation of smart grids, and technological advancement in the transformer industry are driving the market's growth.
On the other hand, the issues of electricity failure in distribution transformers have negatively impacted the development of the market. However, renewable energy adoption creates opportunities for the global market.
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