Market Research Report
Global Power Distribution Automation Market, By Component (Field Device, Software & Services and Communication Technology), By Utility (Public and Private), By Region, Competition, Forecast & Opportunities, 2024
|Published by||TechSci Research||Product code||816975|
|Published||Content info||110 Pages
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|Global Power Distribution Automation Market, By Component (Field Device, Software & Services and Communication Technology), By Utility (Public and Private), By Region, Competition, Forecast & Opportunities, 2024|
|Published: October 1, 2019||Content info: 110 Pages||
Global Power Distribution Automation market is anticipated to grow at a CAGR of over 7% until 2024, owing to the increasing demand for electricity and increasing focus on renewable power generation. Also, the need for energy efficiency, immediate fault detection and protection in the power distribution network is further expected to aid the growth of the market for power distribution automation. Moreover, the increasing demand from commercial sector which includes hotels, hospitals, data centers and offices is expected to bolster the global Power Distribution Automation by increasing the sales of the product. The governments mandating to enhance grid efficiency is further boosting the adoption of Power Distribution Automation technology across the utility and the energy sector.
In terms of component, the Power Distribution Automation market is categorized into field device, software & services and communication technology. Among the components, the field device category is projected to hold a significant portion of the global market for Power Distribution Automation during the forecast period. The major factors driving the growth of the market for Power Distribution Automation are the growing investments in refurbishing the ageing infrastructure and government initiatives to promote the use of energy-efficient power generation resources.
Regionally, the European market played a vital role in generating revenues in the global Power Distribution Automation market, with countries like France, Germany and UK being the key markets in the region. The market for Power Distribution Automation in the European region is growing due to the increasing investments in replacement of ageing power distribution infrastructure and the increasing complexity in the region's power distribution infrastructure. Also, the Asia-Pacific Power Distribution Automation market is predicted to witness a steady growth during the forecast period. The growth of the Asia-Pacific market for Power Distribution Automation is due to the rapid industrialization in China, Australia and India.
In order to increase customer demand, the major vendors in the market for Power Distribution Automation aims at introducing technologically advanced solutions and systems. This helps vendors to differentiate themselves from their counterparts and to sustain competition. Moreover, strategic partnerships & collaborations and investment in R&D activities are some of the other major strategies adopted by major market players to enhance their existing product portfolio and expand their market footprints. Some of the leading players in the global Power Distribution Automation market are Schneider Electric SE, General Electric Company, Schweitzer Engineering Laboratories Inc., ABB Ltd. among others.
Some of the leading players in the global Power Distribution Automation market are Schneider Electric SE, General Electric Company, Schweitzer Engineering Laboratories Inc., ABB Ltd., Power System Engineering Inc., G&W Electric Company, Siemens AG, Cisco Systems Inc., Landis+Gyr, Eaton Corporation etc.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of solution providers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the solution providers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the service offerings, distribution channels and presence of all major solution providers across the globe.
TechSci Research calculated the market size of global Power Distribution Automation market using a top down approach, where data for various application across various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as solution providers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, global Power Distribution Automation market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Company Profiles: Detailed analysis of the major companies present in global Power Distribution Automation market.
With the given market data, TechSci Research offers customizations according the company's specific needs. The following customization options are available for the report: