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Advanced Distribution Management System Global Market Report 2024 To 2033 | Schneider Electric SE, Survalent Technology Corporation Ltd
Advanced Distribution Management System Global Market
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According to The Business Research Company's, The advanced distribution management system market size has grown rapidly in recent years. It will grow from $2.15 billion in 2023 to $2.58 billion in 2024 at a compound annual growth rate (CAGR) of 20.0%. The growth in the historic period can be attributed to need for improved grid reliability and efficiency, growth in distributed energy resources (ders), adoption of smart grid technologies, increase in renewable energy integration, emphasis on grid modernization.
The advanced distribution management system market size is expected to see rapid growth in the next few years. It will grow to $5.17 billion in 2028 at a compound annual growth rate (CAGR) of 19.0%. The growth in the forecast period can be attributed to expansion of electric vehicle (ev) charging infrastructure, increased adoption of microgrids, growth in demand response programs, integration of artificial intelligence and machine learning in adms, emphasis on cybersecurity for advanced distribution management
. Major trends in the forecast period include integration of distributed energy storage systems, use of predictive analytics for grid optimization, implementation of adaptive and self-healing networks, focus on edge computing for real-time decision making, collaboration between utilities and technology providers for adms innovation.
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Market Drivers and Trends:
Rapid investment in power infrastructure are expected to propel the growth of the advanced distribution management system market going forward. Electricity and power infrastructure investment refer to the collection of human and material resources used to generate, transmit, transform, and distribute electrical power in various locations around the world. ADMS is used for multiple activities, including outage management, fault location, isolation, and restoration, Volt-VAR optimization, demand response, and integration of distributed energy resources such as wind, solar, and battery storage. For instance, in 2022, investment in the energy industries at ($17.84) £16.7 billion (at current prices) was 1.4% higher than in 2021. Therefore, rapid investment in power infrastructure is driving the advanced distribution management system market growth.
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
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Major Key Players of the Market:
Schneider Electric SE, General Electric Company, Siemens AG, Survalent Technology Corporation, Oracle Corporation., Capgemini SE, Operation Technology Inc., Hexagon AB, Hitachi Ltd., Tata Power Delhi Distribution Limited., Minsait ACS Inc., Wipro Limited, Anterix Inc., Det Norske Veritas GL, Advanced Control Systems Inc., Advanced Microgrid Solutions, Asea Brown Boveri Ltd., Accenture* plc, Advanced Energy Industries Inc., Advanced Power Technologies LLC, Advanced Utility Systems, Alstom SA, Ambient Corporation, American Electric Power Company Inc., Aquanta Inc., AutoGrid Systems Inc., Avangrid Inc., Black & Veatch Holding Company, CGI Group Inc., Cisco Systems Inc., Comverge Inc.
Advanced Distribution Management System Market 2024 Key Insights:
• The advanced distribution management system market size is expected to see rapid growth in the next few years. It will grow to $5.17 billion in 2028 at a compound annual growth rate (CAGR) of 19.0%.
• Powering Progress Advances Distribution Management Systems Surging With Infrastructure Developments
• Strategic Collaborations Reshaping The Advanced Distribution Management System Market For Enhanced Weather Forecasting In Utilities
• North America was the largest region in the advanced distribution management system market in 2023
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