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Emerging Trends to Reshape the Electric Power Distribution Automation Systems Market: Innovations In Early Warning Radar And HMI Technologies Enhancing Power Distribution Systems With Advanced Control Solutions as a Key Influencer
Electric Power Distribution Automation Systems
Electric Power Distribution Automation Systems Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
Recently, the market size for electric power distribution automation systems has been experiencing significant expansion. It is projected that it will increase from its size of $26.93 billion in 2024 to approximately $28.98 billion in 2025, with a compound annual growth rate (CAGR) of 7.6%. Factors contributing to this substantial growth during the historic period include higher electricity demand, increasingly complex power distribution networks, heightened interest in ensuring reliability and resilience, mandates from regulatory bodies necessitating grid modernization, and cost pressures faced by utilities.
Electric Power Distribution Automation Systems Market Size Forecast: What's the Projected Valuation by 2029?
The market for electric power distribution automation systems is anticipated to witness significant growth in the forthcoming years. The market size is projected to reach $36.88 billion by 2029, expanding at a Compound Annual Growth Rate (CAGR) of 6.2%. The expansion during the forecast period is attributed to factors such as the integration of IoT (Internet of Things) in power distribution, emphasis on grid optimization and efficacy, and the growing need for real-time monitoring and control. Other factors include the advent of advanced metering infrastructure (AMI), and the emergence of smart grid technologies. Key trends for the forecast period comprise the shift toward decentralized energy systems, the growth of microgrids and virtual power plants, the expansion of demand response programs, the growth of predictive maintenance strategies, and the increasing use of artificial intelligence and machine learning in grid operations.
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What Are the Drivers Transforming the Electric Power Distribution Automation Systems Market?
The anticipated increase in smart grid usage is set to fuel the expansion of the electric power distribution automation systems market. Fundamentally, a smart grid is a sophisticated electrical system that merges state-of-the-art communication, sensing, control, and information technology to enhance the creation, transmission, distribution, and usage of electricity. By enabling more efficient energy resource management and optimizing the generation, distribution, and usage of electricity, smart grids lead to decreased energy loss during transmission and distribution. Real-time monitoring of the smart grid, focussing on automation of various distribution grid operations like fault detection, isolation, and restoration, is made possible by electric power distribution automation systems, thereby improving overall grid efficiency. For example, as reported by the U.S. Energy Information Administration (EIA) in October 2023, there were nearly 119 million smart or advanced metering infrastructure (AMI) deployments by electric utilities in the United States in 2022, accounting for 72% of all electric meters, a rise from 118.7 million in the previous year. Therefore, it is the surging adoption of smart grids fuelling the electric power distribution automation systems market's expansion.
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What Long-Term Trends Will Define the Future of the Electric Power Distribution Automation Systems Market?
Key players in the early warning radar market are striving to innovate multi-use protection and control relays expressly designed for medium-voltage power distribution networks, with the aim of enhancing system reliability, fortifying defense against faults, refining grid management, and facilitating efficient monitoring and control of electrical networks. The term Human Machine Interface (HMI) is used to describe a sophisticated system or interface that enables interaction between humans and machines, typically via graphical displays, touchscreens, and instinctive controls. For example, in August 2024, Switzerland-based enterprise Hitachi Energy Ltd. introduced Relion REF650. It has a singular device modular design offering flexible and scalable employment options, rendering it suitable for enduring utilization. It incorporates a novel Human Machine Interface (HMI) including a touchscreen that exhibits machine condition and instantaneous voltage/current data, thus offering operators interactive command. Having obtained certification to the latest industry standards (IEC 61850 Ed 2.1), and compatibility with PCM600 3.1, the relay ensures interoperability across multiple vendors.
Which Segments in the Electric Power Distribution Automation Systems Market Offer the Most Profit Potential?
The electric power distribution automation systems market covered in this report is segmented -
1) By Component: Field Devices, Software, Services, Communication Technology
2) By Implementation: Substation Automation, Feeder Automation, Consumer Side Automation
3) By Application: Industrial, Commercial, Residential
Subsegments:
1) By Field Devices: Remote Terminal Units (RTUs), Intelligent Electronic Devices (IEDs), Circuit Breakers, Voltage Regulators, Capacitor Banks, Transformers, Protection Relays, Sensors (Temperature, Pressure, Flow)
2) By Software: SCADA (Supervisory Control and Data Acquisition) Systems, Distribution Management Systems (DMS), Energy Management Systems (EMS), Asset Management Software, Fault Detection, Isolation, And Service Restoration (FDIR) Software, Advanced Metering Infrastructure (AMI) Software, Analytics And Optimization Software
3) By Services: System Integration Services, Consulting Services, Maintenance And Support Services, Training Services
4) By Communication Technology: Wired Communication (Fiber Optics, Power Line Communication), Wireless Communication (Cellular, Satellite, Wi-Fi, Zigbee), Fiber Optic Communication, Radio Frequency (RF) Communication, Ethernet-Based Communication
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Which Firms Dominate the Electric Power Distribution Automation Systems Market by Market Share and Revenue in 2025?
Major companies operating in the electric power distribution automation systems market are Hitachi Ltd., Siemens AG, General Electric Company, Oracle Corporation, Mitsubishi Electric Corporation, Schneider Electric SE, Honeywell International Inc., ABB Ltd., Eaton Corporation PLC, Infineon Technologies AG, Hubbell Power Systems Inc (Hubbell Incorporated), Itron Inc., Landis+Gyr, NARI Group Corporation, Integrated Electronic Systems, Ingeteam, Schweitzer Engineering Laboratories Inc., S&C Electric Company, Elster Solutions, Beijing SOJO Electric, Beijing Creative Distribution Automation, G&W Electric Company, Trilliant Holdings Inc., Kalki Communication Technologies Private Limited, Iskraemeco, Minsait ACS Inc., Gram Power, Xuji Electric (XJ Group Corporation), Qualus, ZIV Automation UK Ltd.
Which Regions Offer the Highest Growth Potential in the Electric Power Distribution Automation Systems Market?
North America was the largest region in the electric power distribution automation systems market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the electric power distribution automation systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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