CHICAGO, May 15, 2024
/PRNewswire/ -- Distribution Automation Market in terms
of revenue was estimated to be worth $19.3
billion in 2024 and is poised to reach $36.5 billion by 2029, growing at a CAGR of 13.6%
from 2024 to 2029 according to a new report by
MarketsandMarkets™.
Distribution automation (DA) refers to a collection of
technologies, strategies, and practices used by electric utilities
to improve the efficiency, reliability, and safety of their power
distribution networks. It essentially involves automating various
tasks and processes within the distribution system. The
Distribution Automation Market has promising growth potential due
to the factors such as increase in need to optimize power
distribution, reduce energy waste and improve system performance
& increase in need for the integration of renewable energy
sources.
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Browse in-depth TOC on "Distribution Automation
Market"
352 - Tables
64 - Figures
316 -
Pages
Distribution Automation Market Scope:
Report
Coverage
|
Details
|
Market Revenue in
2024
|
$36.5
billion
|
Estimated Value by
2029
|
$19.3
billion
|
Growth Rate
|
Poised to grow at a
CAGR of 13.6%
|
Market Size Available
for
|
2019–2029
|
Forecast
Period
|
2024–2029
|
Forecast
Units
|
Value (USD
Million/Billion)
|
Report
Coverage
|
Revenue Forecast,
Competitive Landscape, Growth Factors, and Trends
|
Segments
Covered
|
By Offering, By
Communication Technology, and By Utility
|
Geographies
Covered
|
North America, Asia
Pacific, Europe, South America, and Middle East &
Africa.
|
Report
Highlights
|
Updated financial
information / product portfolio of players
|
Key Market
Opportunities
|
Technological
advancements such as AI & IoT
|
Key Market
Drivers
|
Boost in Smart Grid
Infrastructure
|
Field Devices segment expected to dominate Distribution
Automation Market, by offering, during the forecast period
The Distribution Automation Market, by offerings, are divided
into field devices, software & services. With respect to the
Distribution Automation Market, the field devices sector is the
largest. The benefits it provides is the ability to remotely
monitor distribution power grids to shorten the length of power
outages, are responsible for its significant market dominance.
Equipped with digital controls, switches, and sensors, they
automate various electricity delivery functions.
Wireless to witness fastest growth rate in Distribution
Automation Market, by communication technology, during forecast
period
The Distribution Automation Market, by communication technology,
is divided into wired and wireless. Wireless is the fastest-growing
segment in Electricity Distribution Automation by communication
technology, owing to rising need for real-time data interchange and
data-driven decisions. Wireless communication technology also
allows information to be transferred over long distances without
the use of electrical lines or conductors, providing secure
transmission while being cost-effective.
Private utilities to witness fastest growth rate in
Distribution Automation Market, by utility, during forecast
period
The Distribution Automation Market, by utility, is divided into
private utilities and public utilities, wherein public segment
accounts for the largest share. Private is fastest growing segment
during the forecast period, the growth is attributed to private
companies investing in advanced metering infrastructure, artificial
intelligence, and smart grid infrastructure to improve reliability,
faster complaint resolution, and real-time energy consumption. With
increasing demand and technical developments, the government is
looking to private partners to help with power distribution.
Private players are viewed as valuable contributions to the sector
due to their increased efficiency and experience. Private
businesses may greatly contribute to the country's energy
infrastructure by collaborating with the government on the
Public-Private Partnership model, making distribution more
cost-effective and accessible to all.
Middle East &
Africa to be fastest-growing
Distribution Automation Market during forecast period
In this report, the Distribution Automation Market has been
analyzed for five regions, namely, Asia
Pacific, North America,
Europe, South America and Middle East & Africa. The Middle
East and Africa emerge as
the most rapidly advancing region in the market, projected to
achieve a CAGR of 20.9% during the forecast period from 2024 to
2029. This growth is attributed to several factors, including the
expansion of the industrial sector, initiatives to electrify smart
cities like NEOM, government efforts to develop smart grid
infrastructure, and projects focusing on electrifying rural and
remote areas. Moreover, key players such as ABB, Schneider
Electric, and Siemens are actively investing in the region to
bolster their market presence and capitalize on the rising demand
for distribution automation technologies.
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Key Market Players of Distribution Automation
Industry:
Some of the major players in the Distribution Automation
Market are ABB (Switzerland),
Schneider Electric (France),
Siemens (Germany), Eaton (Ireland), and General Electric Company
(US). Other major players include S&C Electric Company (US),
Toshiba (Japan), Landis+Gyr
(Switzerland), Itron Inc (US),
Hubbell (US), Xylem (US), Schweitzer Engineering Laboratories, Inc.
(US) and G&W Electric (US). The major strategies adopted by
these players include new product launches, contracts, agreements,
partnerships, and expansions
Recent Developments of Distribution Automation
Industry:
- In March 2024, Itron Inc. has
completed the acquisition of Elpis Squared for USD 35 million. This acquisition equips Itron
with the capability to integrate real-time, high-resolution "grid
edge" data into the power grid planning, operations, and
engineering processes, marking a pioneering advancement for the
industry. The grid edge represents the intersection where smart or
connected infrastructure intersects with the electric power grid,
as defined by the energy-efficiency advocacy group Alliance to Save
Energy.
- In March 2024, Hitachi, Ltd.
announced an investment exceeding USD 32
million in the expansion and modernization of its power
transformer manufacturing plant in Bad Honnef, Germany. Scheduled for completion by 2026, the
project is anticipated to create up to 100 new positions in the
area and cater to the increasing need for transformers to
facilitate Europe's transition to
clean energy. This investment entails expanding the facility to
more than 15,000 square meters. Alongside process improvements, the
upgraded plant aims to enhance operational efficiency and elevate
overall manufacturing capacity to meet escalating demands. The
expansion of this facility mirrors Hitachi Energy's broader
initiative to scale up its presence in Europe.
- In March 2023, S&C Electric
Company has revealed its plans to enlarge its manufacturing
presence in the United States with
a new 275,000-square-foot facility situated in Palatine, Illinois. Located approximately 25
miles away from S&C's existing 47-acre manufacturing campus in
Rogers Park, Chicago, this
expansion underscores our dedication to U.S. manufacturing and the
Chicagoland region. It enables us to enhance our support for
customers by providing solutions that drive forward a robust and
smart electrical grid.
- In March 2023, TOSHIBA
CORPORATION has invested in Open Utility Ltd., a startup
headquartered in the UK that specializes in offering a platform for
the flexible trading of distributed energy resources (DER). This
strategic investment, along with efforts to bolster ties with
Piclo, aims to enhance Toshiba ESS's insight into the present
landscape of related industries and the institutional frameworks in
Europe and the United States, leveraging Piclo's business
operations and ecosystem. Additionally, the company intends to
craft services tailored for DER flexibility markets anticipated to
emerge in the future.
- In March, 2022 ABB has opened a R&D and engineering
facility, ABB Innovation Center (AIC) in Bengaluru, India. The AIC facility focusses on the
development of ABB digital solutions and on the electrification and
motion business segments of the company. Additionally, the facility
provides engineering and support services for process automation
business globally.
The primary interviews conducted for this report can be
categorized as follows:
- By Company Type: Tier 1- 65%, Tier 2- 24%, and Tier 3-
11%
- By Designation: C-Level- 30%, Director Level- 25%, and
Others- 45%
- By Region: North
America – 20%, Europe –
25%, Asia Pacific – 30%,
South America – 10%, and
Middle East & Africa – 15%
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Distribution Automation Market - Key Benefits of
Buying the Report:
The report defines, describes, and forecasts the Distribution
Automation Market, by offering, communication technology, utility,
and region. It also offers a detailed qualitative and quantitative
analysis of the market. The report provides a comprehensive review
of the major market drivers, restraints, opportunities, and
challenges. It also covers various important aspects of the market,
which include the analysis of the competitive landscape, market
dynamics, market estimates in terms of value, and future trends in
the Distribution Automation Market.
The report provides insights on the following
pointers:
- Governmental initiatives to provide last mile connectivity of
electricity, and boost in Smart Grid Infrastructure are few of the
key factors driving the Distribution Automation Market. Factors
such as high installation costs of distribution automation systems
restrain the growth of the market. The need for greater flexibility
and control in electricity supply is expected to present lucrative
opportunities for the players operating in the Distribution
Automation Market. The threats posed by the lack of skilled
personnel and the increasing threat of automated cyber-attacks pose
a major challenge for the players, especially for emerging players
operating in the Distribution Automation Market.
- Product Development/ Innovation: The Distribution
Automation Market is witnessing significant product development and
innovation, driven by the growing demand for smart grid
infrastructure.
- Market Development: Siemens and Areti have announced
their collaboration on the RomeFlex project, aimed at addressing
congestion and voltage fluctuations within the strained power grids
of Italy's capital city. Areti,
playing a pivotal role in Italy's
energy transition, has devised an innovative local flexibility
market architecture, which will be further enhanced by Siemens'
expertise in the energy domain and specialized technology. Over the
next decade, it's anticipated that peak electricity demand on
Rome's DSO power grid will rise
from 2,200 MW to 3,300 MW. To effectively manage this surge in
energy demand and mitigate potential grid challenges such as
blackouts or voltage issues, Areti is rapidly increasing its grid
capacity, accelerating its digital transformation to usher in the
next era of grid management.
- Market Diversification: Siemens has unveiled its latest
Gridscale X software. This product empowers Independent System
Operators (ISOs) and Transmission System Operators (TSOs) to
centrally oversee their network data using a Digital Twin of the
power grid, enhancing efficiency in planning, development, and
operations. The Gridscale X Network Model Manager adeptly manages
various grid scenarios, including the integration of new or
changing assets, streamlines project management, and encourages
collaboration among utilities. Designed with cloud readiness and
full accessibility via APIs, the software features a modular
architecture and state-of-the-art user interface. Positioned as the
next evolution in Siemens' network model management offerings, the
Gridscale X Network Model Manager is a component of Siemens
Xcelerator, an open digital business platform facilitating
customers' digital transformation journey.
- Competitive Assessment: In-depth assessment of market
shares, growth strategies, and service offerings of leading
players, like include ABB (Switzerland), Schneider Electric (France), Siemens (Germany), Eaton
(Ireland) and General Electric Company (US), among others in
the Distribution Automation Market.
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Companies and Distribution Automation Industry Growth
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