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Feeder Automation Market Trends, Top Companies, Share, Growth And Forecast 2033
Feeder Automation Market Trends
According to The Business Research Company's, The feeder automation market size has grown exponentially in recent years. It will grow from $3.53 billion in 2023 to $3.82 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to rapid rising prices of electricity, increasing demand for automation of feeder systems, growing usage of distribution feeder, automation system in different mining sites, increasing operational efficiency needs.
The feeder automation market size is expected to see strong growth in the next few years. It will grow to $5.26 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to integration of renewable energy sources, growing need for efficient feeder systems, need for improved reliability and efficiency in power distribution, increasing demand for customized automation solutions, higher adoption of feeder automation system in oil and gas industry. Major trends in the forecast period include implementation of smart grid technology, adoption of advanced technologies in feeder automation, integration of automatic devices, increasing investment in automation activities, product innovation.
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Market Drivers and Trends:
The rise in demand for efficient power distribution is expected to propel the growth of the feeder automation market going forward. Power distribution is the process of delivering electrical power from a generation source, such as a power plant, to various end users, such as homes, businesses, and industries. There is a demand for power distribution to efficiently deliver electricity from generation sources to end-users, powering homes, businesses, and industries, facilitating economic activities, and fulfilling societal functions. Power distribution uses feeder automation to improve reliability and efficiency by automating the monitoring, control, and management of distribution feeders, enhancing fault detection, isolation, and restoration processes, and ultimately ensuring uninterrupted power supply to consumers while reducing downtime and operational costs. For instance, in March 2023, according to the Dubai Electricity and Water Authority (PJSC), a UAE-based government agency, the total length of electricity transmission and distribution lines reached 42,586.71 kilometers in 2022, compared to 41,930 kilometers in 2021. The total length of transmission lines increased to 4,332 km, and the distribution lines-underground cables-to 37,541 km in 2022. Therefore, the increased demand for efficient power distribution is driving the growth of the feeder automation market.
Major companies operating in the file integrity monitoring market are focused on developing advanced technologies, such as threat intelligence monitoring solutions, to gain a competitive edge in the market. Threat intelligence monitoring solutions are software systems that continuously gather, analyze, and provide actionable insights on an organization's potential cybersecurity threats and risks. For instance, in October 2021, CrowdStrike Holdings Inc., a US-based cybersecurity technology company, launched Falcon FileVantage. This file integrity monitoring solution enhances security by providing central visibility and scalable monitoring of critical files, folders, and registry changes. It monitors all critical files and systems through modernized workflow policies, adding valuable context through detection data and threat intelligence via the Falcon console. The solution is powered by CrowdStrike's proprietary Threat Graph, which captures approximately 1 trillion high-fidelity signals daily in real-time from across the globe, fueling one of the world's most advanced data platforms for security.
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Major Key Players of the Market:
Hitachi Ltd., Siemens AG, Cisco Systems Inc., Schneider Electric SE, Honeywell International Inc., GE Vernova Inc., ABB Ltd., Toshiba Corporation, Eaton Corporation PLC, Emerson Electric Co., Delta Electronics Inc., Rockwell Automation Inc., Omron Corporation, YASKAWA Electric Corporation, Woodward Inc., Schweitzer Engineering Laboratories Inc., Atlantic City Electric Company, CG Power & Industrial Solutions Ltd., G&W Electric Co., Moxa Inc., EFACEC, Kyland Technology Co. Ltd., ATI Industrial Automation Inc., Advanced Control Systems Inc.
Feeder Automation Market 2024 Key Insights:
• The feeder automation market size is expected to see strong growth in the next few years. It will grow to $5.26 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%.
• Driving Forces Behind The Growth Of Feeder Automation Market In Power Distribution Sector
• Evolution Of All-in-One Protection Relays In Feeder Automation
• North America was the largest region in the feeder automation market in 2023
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