CHICAGO, May 15, 2024 /PRNewswire/ -- Distribution Automation Market [https://www.marketsandmarkets.com/Market-Reports/distribution-automation-market-65029172.html] 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(TM).
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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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