Overview and Scope
Electric power distribution automation systems refer to advanced technologies
and control systems designed to enhance the efficiency, reliability, and safety
of electric power distribution networks. These systems utilize sensors,
communication networks, and control devices to monitor, analyze, and manage
electricity distribution in real-time, ensuring smooth operations and
minimizing downtime.
Sizing and Forecast
The electric power distribution automation systems market size has grown strongly
in recent years. It will grow from $24.95 billion in 2023 to $26.93 billion in
2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be
attributed to increasing demand for electricity, growing complexity of power
distribution networks, rising concern for reliability and resilience,
regulatory mandates for grid modernization, cost pressures on utilities.
The electric power distribution automation systems market size is expected to
see strong growth in the next few years. It will grow to $34.79 billion in 2028
at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be
attributed to implementation of IoT (Internet of Things) in power distribution,
focus on grid optimization and efficiency, demand for real-time monitoring and
control, emergence of advanced metering infrastructure (AMI), rise of smart
grid technologies. Major trends in the forecast period include transition
towards decentralized energy systems, rise of microgrids and virtual power
plants, growth of demand response programs, expansion of predictive maintenance
strategies, adoption of artificial intelligence and machine learning in grid
operations.
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Segmentation & Regional Insights
The electric power distribution automation systems market covered in this
report is segmented –
1) By Component: Field Devices, Software, Services, Communication Technology
2) By Implementation: Substation Automation, Feeder Automation, Consumer Side
Automation
3) By Application: Industrial, Commercial, Residential
North America was the largest region in the electric power distribution
automation systems market in 2023. Asia-Pacific is expected to be the
fastest-growing region in the forecast period. The regions covered in the
electric power distribution automation systems market report are Asia-Pacific,
Western Europe, Eastern Europe, North America, South America, Middle East,
Africa.
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Major Driver Impacting Market Growth
The rising adoption of smart grids is expected to propel the growth of the
electric power distribution automation systems market going forward. A smart
grid refers to an advanced electrical grid system that integrates modern
communication, sensing, control, and information technologies to optimize the
generation, transmission, distribution, and consumption of electricity. Smart
grids facilitate better management of energy resources, optimizing the
generation, distribution, and consumption of electricity. This leads to reduced
energy losses during transmission and distribution. Electric power distribution
automation systems enable real-time monitoring of smart grid that focuses on
automating various distribution grid functions, such as fault detection,
isolation, and restoration and improving the overall efficiency of the grid.
For instance, in October 2023, according to data published by the U.S. Energy
Information Administration (EIA), a US-based government agency, electric
utilities in the United States had approximately 119 million smart or advanced
metering infrastructure (AMI) installations in 2022, constituting 72% of total
electric meters, compared to 118.7 million in 2021. Therefore, the rising
adoption of smart grids is driving the growth of the electric power
distribution automation systems market.
Key Industry Players
Major companies operating in the electric power distribution automation systems
market are Hitachi Ltd., Siemens AG, General Electric Company, Oracle
Corporation, Mitsubishi Electric Corporation, Schneider Electric SE, Honeywell
International Inc., ABB Ltd., Eaton Corporation PLC, Infineon Technologies AG,
Hubbell Power Systems Inc (Hubbell Incorporated), Itron Inc., Landis+Gyr, NARI
Group Corporation, Integrated Electronic Systems, Ingeteam, Schweitzer
Engineering Laboratories Inc., S&C Electric Company, Elster Solutions,
Beijing SOJO Electric, Beijing Creative Distribution Automation, G&W
Electric Company, Trilliant Holdings Inc., Kalki Communication Technologies
Private Limited, Iskraemeco, Minsait ACS Inc., Gram Power, Xuji Electric (XJ
Group Corporation), Qualus, ZIV Automation UK Ltd.
The electric power distribution automation systems market report table of
contents includes:
1. Executive Summary
2. Electric
Power Distribution Automation Systems Market Characteristics
3. Electric
Power Distribution Automation Systems Market Trends And Strategies
4. Electric
Power Distribution Automation Systems Market - Macro Economic Scenario
5. Global
Electric Power Distribution Automation Systems Market Size and Growth
.
32. Global
Electric Power Distribution Automation Systems Market Competitive Benchmarking
33. Global
Electric Power Distribution Automation Systems Market Competitive Dashboard
34. Key
Mergers And Acquisitions In The Electric Power Distribution Automation Systems
Market
35.
Electric Power Distribution Automation Systems Market Future Outlook and
Potential Analysis
36.
Appendix
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