CHICAGO, June 15, 2020
CHICAGO, June 15, 2020 /PRNewswire/ -- According to the new market research report "Distribution Automation Market by Component (Field Devices, Software, Services), Communication Technology (Wired (Fiber Optic, Ethernet, Powerline Carrier, IP), Wireless (RF Mesh, Cellular, Wimax)), Utility, Region - Global Forecast to 2025", published by MarketsandMarkets™, the Distribution Automation Market size is expected to grow from an estimated value of USD 12.4 billion in 2020 to USD 17.7 billion by 2025, at a CAGR of 7.4% from 2020 to 2025. The need for improved grid reliability and operating efficiency and increasing investments to upgrade aging grid infrastructure are major factors driving the growth of this market.
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Public utility segment estimated to hold a larger share of the Distribution Automation Market than the private utility segment during the forecast period
The Distribution Automation Market has been segmented based on utility into public and private. The public utility segment accounted for a larger market share in 2019. Public utilities are undertaking initiatives to adopt new advanced technologies due to increased regulation and evolving customer preferences.
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113 – Tables
48 – Figures
185 – Pages
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Wireless segment projected to register a higher CAGR than the wired segment during the forecast period
Based on communication technology, the market has been segmented into wired and wireless. The wireless segment is expected to witness a higher CAGR during the forecast period. Distribution automation uses wireless communication due to its ease in accessibility and increased efficiency. This wireless communication technology provides integral support to the utilities by offering high bandwidth and covering a large area.
Asia Pacific estimated to dominate the Distribution Automation Market during the forecast period
Asia Pacific is estimated to be the largest market for distribution automation during the forecast period. For the market analysis, the region has been segmented into China, Japan, India, South Korea, Australia, and the Rest of Asia Pacific. The demand for distribution automation in this region is driven mostly by the increasing electricity consumption and the need to upgrade aging infrastructure. Countries in this region are shifting toward clean energy to meet the growing energy demands.
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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of top players in the Distribution Automation Market. Some of the major market players include ABB (Switzerland), Eaton (Ireland), GE (US), Schneider Electric (France), and Siemens (Germany). These leading market players adopt various growth strategies to increase their share and presence in the Distribution Automation Market.
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