Pune, June 14, 2021 (GLOBE NEWSWIRE) — Global Distribution Automation Market size is projected to reach USD 22.8 Billion by 2027, with 7.31% CAGR between 2020 and 2027.
The distribution automation market outlook appears extremely promising. Factors such as continually rising demand for automated grid distribution processes and reliability improvement programs by the governments drive the distribution automation market growth. Additionally, the rise in global electricity demand and grid infrastructures worldwide boosts the distribution automation market size.
Significant investments toward the refurbishment of aging grid infrastructures increase the distribution automation market shares. Rapid deployments of smart grids to meet growing regulatory targets are expected to increase the market value further. With the rising numbers of smart grids, the market is projected to grow rapidly during the forecast period.
According to Market Research Future, the global distribution automation market is expected to touch an exponential valuation by 2027, growing at an impressive CAGR during the review period (2020-2027). Moreover, the increasing uptake of smart grid technology across developed regions creates substantial market demand, witnessing immense growth in electrical infrastructure modernization expenditures.
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The COVID-19 outbreak hit the distribution automation industry severely, causing huge revenue losses. Automation technology providers and device manufacturers faced various problems, such as obtaining raw materials & components required for the production, attracting workers from quarantines, and delivering end products to markets. Installation and replacements were postponed due to strict lockdown regulations, which further impacted the production facilities, bringing the market to a halt.
Besides, the lockdown disruptions put a brake on component and device manufacturing, spiked product prices, and subsequently lowered market demand. However, the distribution automation market is rapidly returning to normal, witnessing a steady rise in demand. The market demand is likely to pick up following the uplift of lockdown in many countries.
Rising automation in wired & wireless utility types, connecting wind farms, and distribution grid uses are major distribution automation market trends. Besides, vast technological advances and evolution in grid technology increase market sales. Increasing legislative measures toward expanding reliable grid infrastructures in developing regions would further complement the business landscape.
Some of the advantages of distribution automation systems include asset optimization, demand optimization, distribution optimization, and distribution control analysis. Rapid adoption of these systems in commercial, industrial, and residential sectors for remote monitoring and control of electrical loads on power distribution systems and equipment are major distribution automation market trends.
The energy industry has significantly evolved in recent years, mainly due to the rising deployments of digital grids. Augmenting demand from the power industry is a major factor substantiating the size of the market. Besides, technological advances, such as e-mobility software, energy dashboard, automation, and energy consulting & protection devices drive the market growth. Rapid industrialization in developing countries creates vast market demand.
Increasing smart city projects and awareness about energy efficiency benefits the environment, and improving wireless grid communication technology boosts the closer market demand. Increased numbers of substation utilities across the globe is another factor pushing the demand in the distribution automation market. Additionally, the rising emphasis on renewable energy would unlock value and contribute to electrification, automation, and digitalization.
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The distribution automation market analysis is segmented into components, utility types, and regions. The component segment is sub-segmented into devices, software & services, and communication technology. Among these, the field device segment holds the largest market share as these devices are uniformly deployed within the distribution network to ensure timely data transmission and system integrity.
The utility type segment is sub-segmented into private and public. Of these, the public segment accounts for the largest market share as these utilities are government-owned and are offered grants by the government. By region, the analysis is segmented into Asia Pacific, Americas, Europe, and the rest-of-the-world.
North America dominates the global distribution automation market. The largest market share attributes to the increase in unconventional resources from the US and Canada. Besides, rising advances in distribution automation smart-grid technology and the demand in the electricity industry increase the market growth. Investments in smart grid technology directly drive the distribution automation market growth, as these systems play a causal role in the entire power distribution network.
With its rising spending in smart grid deployments, the US leads in the region in terms of distribution automation market value. Distribution units operate in isolation and are programmed to trip and reset without the need for connectivity networks. Resultantly, increasing demand for connectivity and distribution monitoring & control, alongside the latest satellite technologies in the region, influences the market growth.
Asia Pacific stands second in terms of global distribution automation market revenue. Factors such as the growing infrastructure developments and power demand in the region substantiate the market growth. Additionally, vast investments for developments and upgrades of grid infrastructures, renewable power generation sources, and infrastructural activities substantiate the distribution automation market size. The spurring rise in power infrastructure in the region drives the distribution automation market growth.
Europe is a profitable market for distribution automation technologies globally. Factors such as rising automation and upgrade of electric utility distribution create substantial market demand. Distribution automation devices are essential in maintaining maximum continuity of service. Increase in power system simulators programs used in various power systems to minimize fault conditions and propel regional market growth.
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The distribution automation market is experiencing implementations of several strategies, such as collaboration, expansion, product launches, and mergers & acquisitions. Major industry players make large strategic investments in research and development activities and fostering their expansion plans.
For instance, recently, on May 20, 2021, Puppet, an industry leader in infrastructure automation, announced it has entered an Australia and New Zealand (ANZ) distribution agreement with Arrow Electronics, a value-added distributor. Puppet helps enterprises modernize, manage, and bring into compliance hybrid infrastructure through continuous automation. The company partnered with some of the largest organizations across Australia and New Zealand, spanning verticals like education, financial services, government, and telecommunications.
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