Distribution Automation Solutions Market by Solution, Deployment, and Geography - Global Forecast and Analysis 2019-2023
Global Distribution Automation Solutions Market: About this market
Technavio’s distribution automation solutions market analysis considers sales from field devices, communication systems, and software and services. Our analysis also considers the sales of distribution automation solutions in APAC, Europe, North America, South America, and MEA. In 2018, the field devices segment had the largest market share, and this trend is expected to continue over the forecast period. Factors such as the rising need for equipment protection due to power fluctuations will play a significant role in the field devices segment to maintain its market position. Also, our global distribution automation solutions market report looks at factors such as aging power infrastructure and increasing power outage, increasing the need for real-time power distribution analysis in utility grids, a rising number of smart grid projects. However, lack of standardization, threat of cyberattacks, and high installation costs may hamper the growth of the distribution automation solutions industry over the forecast period.
Global Distribution Automation Solutions Market: Overview
An increasing number of smart grid projects
A smart grid is an integrated network that connects all the assets of a power network. It can generate large volumes of data offering reliable and uninterrupted power. It further offers several benefits such as smart grid reduces AT&C losses, reduce the number of transformer failures, peak load and outage management, recovery time for unpredictable outages, and purchase of high-cost power at peak hours. This will lead to the expansion of the global distribution automation solutions market at a CAGR of almost 12% during the forecast period.
Increasing Role of Data Analytics
The use of data analysis has been growing in the utility sector, led by an increase in the number of connected devices, which has made it possible to capture and collect data from any part of an asset. Capital-intensive industries, such as power generation and transmission and distribution, use big data to predict the latest trends and patterns during operation. Data has become the new source for anticipating power demand and power losses during transmission. By using data analytics, power utilities can predict any outage or power issue based on the historical data trend. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global distribution automation solutions market during the forecast period 2019-2023, click here.
With the presence of several major players, the global distribution automation solutions market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading distribution automation solutions manufacturers, that include ABB Ltd., Eaton Corp. Plc., General Electric Co., Schneider Electric SE, Siemens AG.
Also, the distribution automation solutions market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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