Distribution Automation
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What Is the Expected CAGR for the Distribution Automation Market Through 2025?
Over the past few years, the size of the distribution automation market has been expanding significantly. It is projected to increase from $16.97 billion in 2024 to $18.51 billion in 2025, with a compound annual growth rate (CAGR) of 9.1%. Factors contributing to this growth during the historic period include positive government regulations and mandates, an increasing proportion of renewable energy in the overall energy mix, dependable and efficient energy usage, and a decrease in the duration of power outages.
What’s the Projected Size of the Global Distribution Automation Market by 2029?
Expectations are high for robust expansion of the distribution automation market in the coming years, with projections placing its value at $26.6 billion by 2029, following a compound annual growth rate (CAGR) of 9.5%. The predicted upward trajectory during the forecast period can be ascribed to factors such as the growing necessity for digitalization of the power sector, rising renewable power generation, augmented incorporation of renewable energy, enhancements in the reliability and effectiveness of distribution systems, along with a steep increase in the worldwide demand for electricity and grid infrastructure. Key trends propelling growth during this period encompass technological progress, the development ofInternet of Things and communication technologies, growing reliance on electric equipment, heightened awareness about reducing carbon emissions, and the need for upgrading obsolete distribution infrastructure.
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Top Growth Drivers in the Distribution Automation Industry: What’s Accelerating the Market?
The expansion of the distribution automation market is likely to be driven by the increasing generation of renewable power. The generation of renewable power involves the creation of electricity from sources that naturally replenish themselves. Distribution automation plays a vital role in facilitating the effective, dependable, and sustainable incorporation of renewable energy into the power grid, thus fostering a shift towards a greener and more sustainable energy future. For example, wind and solar power made up 14% of U.S. electricity generation in 2022, as per the U.S. Energy Information Administration (EIA), a chief agency of the Federal Statistical System, and this is expected to rise to 18% by 2024. Furthermore, wind and solar energy are anticipated to spearhead the growth in U.S. power generation for the upcoming two years. Solar power generation is forecasted to surge by 75%, from 163 billion kWh in 2023 to 286 billion kWh in 2024, whereas wind power generation is predicted to jump by 11%, from 430 billion kWh in 2023 to 476 billion kWh in 2024. Consequently, the rising generation of renewable power is fuelling the expansion of the distribution automation market.
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What Trends Will Shape the Distribution Automation Market Through 2029 and Beyond?
Leading firms in the distribution automation market are pioneering the development of subterranean distribution restoration systems, such as EdgeRestore, to enhance the consistency of customer power. EdgeRestore is an entirely automated solution crafted to isolate faults in hard-to-reach, underground residential distribution circuits, which eases the process of swift power restoration to residences. For example, S&C Electric Company, a company based in the USA that specializes in switching, protection, and control solutions for electric power systems, introduced EdgeRestore to the market in February 2023. This newly designed automated solution not only increases the safety of the work crew but also smoothly integrates into the existing system. It eradicates underground lateral power outages via an automated restoration technique. This system has several benefits, like improving customer reliability, helping customers to sustain service, enhancing overall satisfaction, and preventing thousands of minutes of power outages.
What Are the Main Segments in the Distribution Automation Market?
The distribution automation market covered in this report is segmented –
1) By Component: Software, Field Devices, Services
2) By Communication: Wired, Wireless
3) By Application: Public Utility, Private Utility
4) By End User: Industrial, Commercial, Residential
Subsegments:
1) By Software: Distribution Management Systems (DMS), Supervisory Control And Data Acquisition (SCADA), Advanced Distribution Management Systems (ADMS), Outage Management Systems (OMS)
2) By Field Devices: Smart Meters, Intelligent Electronic Devices (IEDs), Remote Terminal Units (RTUs), Switchgear And Sensors
3) By Services: Consulting Services, Installation And Integration Services, Maintenance And Support Services, Training And Education Services
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Which Top Companies are Driving Growth in the Distribution Automation Market?
Major companies operating in the distribution automation market are Hitachi Ltd., Siemens AG, General Electric Company, Cisco Systems Inc., Mitsubishi Electric, Schneider Electric SE, ABB Ltd., Toshiba, Eaton Corporation Plc, American Electric Power, Xylem Inc., Hubbell Incorporated, Itron Inc., Schweitzer Engineering Laboratories Inc., Landis+Gyr, Ingeteam, S&C Electric Company, Cooper Power Systems LLC, G&W Electric, CE Power Engineered Services (US), Kalkitech, NovaTech LLC., Beckwith Electric, Trilliant Holdings, Minsait ACS, Aclara Technologies LLC, Advanced Control Systems Inc., Alstom SA, Atlantic City Electric Company, BPL Global Ltd., Crompton Greaves Limited
Which Regions Will Dominate the Distribution Automation Market Through 2029?
North America was the largest region in the distribution automation market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the distribution automation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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