Distribution Automation Market 2021 Size, Share, Trends and Industry Forecast 2025
According to Market Research Future (MRFR), in its latest “Distribution Automation Market” reports discusses factors that can impact the distribution automation industry. As per MRFR, The rise in distribution automation market size can be attribute to the high utility of the product in different industries.
The distribution automation market poised to value at USD 19.42 Bn through 2019 to 2025. North America can secure the grand distribution automation market share due to several distribution automation market trends. The distribution automation market growth can be at 7.31% CAGR by 2025. The distribution automation market 2020 can achieve high revenue on the conclusion of the forecast period.
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The distribution automation solutions comprises hardware and software devices that can utilize analyze, collect, automate, and optimize data, which can improve the operational efficiency of distribution automation system. This can prompt the expansion of the distribution automation solutions market growth.
The rise in the adoption of processors, sensors, information & communication network, and devices can prompt the expansion of the market. The growing need to provide proper supervision, control, and monitoring of electrical loads on power distribution systems can underpin the expansion of the distribution automation market. The rise of critical functions of distribution automation due to high demand for optimization, asset optimization, distribution control analysis, and distribution optimization can be given credit for the exponential growth of the distribution automation market.
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The distribution automation global market study is based on utility, component, and type.
The component-based segments of the distribution automation global market are software & services, field devices, and communication technology. The field device segment is likely to secure the grand share of the world distribution automation market. The uniform distribution of these devices within the distribution network can ensure the timely transmission of data and prompt system integrity. The utility type based segments of the distribution automation global market are private and public. The public segment is likely to rise with the highest CAGR through 2019 to 2025 as government utilities of distribution automation and rise in grants by the government can spur the expansion of the market.
Detailed Regional Study
North America distribution automation market can rise across the forecast period due to rise in need for upgradation of existing distribution infrastructure and rise in renewable power generation can underpin the expansion of the market in North America.
The rise in unconventional resources from Canada and the US can cause North America to dominate the world distribution automation. The growing tangibility of smart grid market can impel the expansion of the market. The rise of distribution automation smart-grid technology in the US electricity industry can generate about USD 46 Bn revenue across 2019 and 2030. The hefty investment made in smart grid technology can drive the distribution automation market in the region. In Asia Pacific, factors that can surge the...
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