Uploaded on Jan 30, 2024
Inkwood Research estimates that the Global Electric Power Distribution Automation Systems Market is predicted to rise with a CAGR of 6.59% in terms of revenue over the forecasting years of 2022-2030.
Aging Power Infrastructure to enable Global Electric Power Distribution Automation Systems Market Growth Opportunities
Aging Power Infrastructure to enable Global Electric Power
Distribution Automation Systems Market Growth Opportunities
Inkwood Research estimates that the Global Electric Power Distribution Automation Systems
Market is predicted to rise with a CAGR of 6.59% in terms of revenue over the forecasting years of
2022-2030.
Distribution automation systems (DAS) offer enhanced situational awareness, intelligent controls,
sensors, and communication. Also, these systems aid in stabilizing the distribution grids that handle
a large amount of decentralized power generation plants. Whereas electric power distribution
automation systems help manage, analyze, and collect electricity distribution.
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automation-systems-market/#request-free-sample
Aging Power Infrastructure offers Growth Opportunities
The aging infrastructure is a major factor projected to have damaging impacts on the power
industry. The aging energy generation & distribution infrastructure has emerged as an impending
challenge. Accordingly, investments are being directed to infrastructure replacement or
upgradation. Additionally, automation is playing a central role in profiting the distributed energy,
given the modernization of aging infrastructure. Besides, a stable and constant energy supply is vital
to economic progress, stability, and social well-being.
At the same time, the existing infrastructure in several parts of the world is not equipped to handle
the rising power demands or maintain the variable electricity offered by renewable energy sources.
As a result, it has become necessary to improve the electricity grid. This is also due to the power
interruptions caused by high demand, aging infrastructure, and storms, thereby impacting
businesses and individuals.
For instance, as per the US Department of Energy (DOE), almost 70% of the distribution and
transmission lines are over 25 years old. Such factors boost the global electric power distribution
automation systems market growth.
Substation Automation: Largest & Fastest-Growing Implementation Segment
The growing deployment of substation automation is attributed to the rising prioritization of
restricting transmission and distribution losses by energy and power utilities. Also, several industries
are looking to enhance the reliability and performance of electric circuits and minimize outage time,
offering growth opportunities for the segment. Besides, recent market trends like the emergence of
IoT and smart meter installation offer real-time monitoring of electricity usage to electricity billing
companies and consumers.
Asia-Pacific: Fastest-Growing Region
The expanding industrial sector and the rising number of manufacturing facilities propel market
growth in the region. Also, the increasing investments by power utilities to advance their distribution
and transmission networks boost market demands. For instance, Australia has been undertaking
initiatives to modernize its energy infrastructure, wherein the government invests almost $5 billion
annually for the transmission distribution network.
The competitive rivalry is high, with companies competing on the basis of geographical presence,
ability to serve different application areas, and prices. Some of the key firms operating in the market
include General Electric Company, S&C Electric Company, Honeywell International Inc, Mitsubishi
Electric Corporation, etc.
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About Inkwood Research
Inkwood Research specializes in syndicated & customized research reports and consulting services.
Market intelligence studies with relevant fact-based research are customized across industry
verticals such as technology, automotive, chemicals, materials, healthcare, and energy, with an
objective comprehension that acknowledges the business environments. Our geographical analysis
comprises North & South America, CEE, CIS, Middle East, Europe, Asia, and Africa.
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