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Distribution Automation Market: Growth, Demand, Size And Share And Forecast To 2033
Distribution Automation Market
As per the report, the distribution automation market size has grown strongly in recent years. It will grow from $15.44 billion in 2023 to $16.97 billion in 2024 at a compound annual growth rate (CAGR) of 9.9%. The distribution automation market size is expected to see strong growth in the next few years. It will grow to $24.26 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%.
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Renewable Power Surge Fueling The Growth Of Distribution Automation
Growing renewable power generation is expected to propel the growth of the distribution automation market going forward. Renewable power generation refers to the production of electricity from naturally replenished sources. Distribution automation is crucial in enabling renewable energy's efficient, reliable, and sustainable integration into the power grid, contributing to the transition towards a cleaner and more sustainable energy future. For instance, according to the Energy Information Administration (EIA), a US-based principal agency of the Federal Statistical System, in 2022, wind and solar power accounted for 14% of U.S. electricity generation, expected to increase to 18% in 2024. Further, wind and solar energy will lead the growth in U.S. power generation for the next two years, with solar power generation projected to grow by 75% from 163 billion kWh in 2023 to 286 billion kWh in 2024, and wind power generation expected to grow by 11% from 430 billion kWh in 2023 to 476 billion kWh in 2024. Therefore, the growing renewable power generation is driving the growth of the distribution automation market.
Revolutionizing Distribution Automation S&C Electric Introduces EdgeRestore For Enhanced Customer Reliability
Major companies operating in the distribution automation market are developing underground distribution restoration systems, such as EdgeRestore, to improve customer power reliability. EdgeRestore is a fully automated solution designed to isolate faults in difficult-to-access, underground residential distribution circuits, allowing for quick power restoration to homes. For instance, in February 2023, S&C Electric Company, a US-based provider of switching, protection, and control solutions for electric power systems, launched EdgeRestore, an automated solution designed to enhance crew safety and seamlessly fit into the existing system. This technology eliminates underground lateral outages with an automated restoration solution, enhances crew safety, and seamlessly fits into the existing system. The system is beneficial for multiple reasons, including boosting customer reliability, enabling customers to maintain service, improving overall satisfaction, and avoiding thousands of outage minutes.
The distribution automation market covered in this report is segmented -
1) By Component: Software, Field Devices, Services
2) By Communication: Wired, Wireless
3) By Application: Public Utility, Private Utility
4) By End User: Industrial, Commercial, Residential
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Major companies operating in the distribution automation market are Hitachi Ltd., Siemens AG, General Electric Company, Cisco Systems Inc., Mitsubishi Electric, Schneider Electric SE, ABB Ltd., Toshiba, Eaton Corporation Plc, American Electric Power, Xylem Inc., Hubbell Incorporated, Itron Inc., Schweitzer Engineering Laboratories Inc., Landis+Gyr, Ingeteam, S&C Electric Company, Cooper Power Systems LLC, G&W Electric, CE Power Engineered Services (US), Kalkitech, NovaTech LLC., Beckwith Electric, Trilliant Holdings, Minsait ACS, Aclara Technologies LLC, Advanced Control Systems Inc., Alstom SA, Atlantic City Electric Company, BPL Global Ltd., Crompton Greaves Limited
Contents of the report:
1. Executive Summary
2. Distribution Automation Market Report Structure
3. Distribution Automation Market Trends And Strategies
4. Distribution Automation Market - Macro Economic Scenario
5. Distribution Automation Market Size And Growth
…..
27. Distribution Automation Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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