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Global Distribution Automation Market – Opportunities and Forecasts, 2022-2028

In: Business

The Distribution Automation Market In 2020, the market was worth USD 10.89 billion. During the period 2021-2028, the market is expected to increase at a CAGR of 7.6%, from USD 11.63 billion in 2022 to USD 19.47 billion in 2028. Zion Market Research’s report, “Distribution Automation Market, 2022-2028,” contains this crucial information. During the projection period, factors such as the capacity to give real-time operational notifications and perform demand and asset optimization will enhance the market.

COVID-19 Impact

Market Growth to Be Slowed by Pandemic-Related Disruptions

The COVID-19 pandemic greatly halted the expansion of the distribution automation business, resulting in huge revenue losses. Many hurdles face automation solution providers and device makers, including difficulties sourcing raw materials and components needed for production. Several supply chain delays resulted as a result of these causes. Aside from the aforementioned considerations, strict lockout restrictions had a significant impact on the market for distribution automation solutions.

Access Full Report here : https://www.zionmarketresearch.com/report/distribution-automation-market

Restraints and Drivers

Upgrades to Aging Power Plants Will Help Market Growth

During the projected period, rising demand for power and grid infrastructures is expected to create new revenue possibilities for the market. Increased demand from the residential, commercial, and industrial sectors, as well as increased technology adaptation, will expand the market’s footprint. Furthermore, the market’s growth would be aided by increased occurrences of power distribution system upgrades.

During the projection period, however, high installation costs are projected to hamper the distribution automation market’s growth. Increasing technical complexity will also stifle market expansion.

Market Possibilities:

For companies in the worldwide distribution automation market, bi-directional grids are likely to provide lucrative growth prospects. Schneider Electric Smart bi-directional grids – or Grids of the Future Management at Enlit Europe, for example, in December 2021.

Furthermore, the worldwide distribution automation market is likely to benefit from the increased implementation of next-generation digital technologies for power supply. ABB India, for example, partnered with Indore Smart City Development Ltd in December 2021 to introduce next-generation digital technology that ensures continuous electrical supply to households and businesses.

Market Segmentation:

By Product Type:

● Monitoring and Control Devices
● Power Quality and Efficiency Devices
● Switching and Power Reliability Devices

By Application:

● Industrial
● Commercial
● Residential

Market Trends:

To increase their market share, major companies in the global distribution automation market are focusing on forming partnerships. Schneider Electric, for example, teamed with BPX, an industrial automation component distributor, in May 2021, with the latter serving as Schneider Electric’s alliance master industrial automation distributor for Ireland.

Major competitors in the global distribution automation market are also focusing on using artificial intelligence to improve electricity distribution. For example, Tata Power, India’s integrated electricity provider, struck a three-year commercial arrangement with BluWave-ai, an energy AI company, in October 2021 to operationalize artificial intelligence in day-to-day power distribution in Mumbai.

Competitive Environment:

The global distribution automation market is dominated by the following major players, American Electric Power, Cooper Power Systems, Dominion Virginia Power, Électricité de France, General Electric Corporation, Pacific Gas and Electric Company, Siemens AG, S & C Electric Company, and Schneider Electric SA.

Read more at : https://www.zionmarketresearch.com/news/distribution-automation-market

Growth of Industry

Schweitzer Engineering Laboratories (SEL) announced the deployment of a system-hardening solution to improve the security of electric power protection and control systems in July 2020. Cyber Services will be able to analyse systems against the NIST cybersecurity framework using these solutions.

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