Global Electric Power Distribution Automation Systems Market to Reach US$ 40.4 Billion by 2028, Impelled by Increasing Requirement for Electricity

October 04, 2022 | Technology & Media

The latest report by IMARC Group, titled “Electric Power Distribution Automation Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028,” finds that the global electric power distribution automation systems market size reached US$ 27.9 Billion in 2022. An electric power distribution automation system (DAS) assists in collecting, analyzing, and managing electricity distribution. It comprises sensors, processors, switches, and information and communication networks that provide real-time operational notifications about fault detection, voltage monitoring, reactive power management, preventive equipment maintenance, and grid integration of distributed energy resources. Owing to these properties, these systems are widely adopted across various industrial verticals.
 

Global Electric Power Distribution Automation Systems Market Trends:

The market is primarily driven by the increasing requirement for electricity in hotels, hospitals, data centers, and corporate offices. In addition, governing agencies of numerous countries are making huge investments in developing smart cities, which has resulted in the upgradation of transmission and distribution infrastructure. This, coupled with the escalating demand for smart grids and the surging need to replace the existing infrastructure, is positively influencing market growth. Besides this, service providers, private distribution utilities, government bodies, and equipment manufacturers are investing in research and development (R&D) activities to introduce innovative technologies, representing another major growth-inducing factor. Moreover, the growing need for energy efficiency and immediate fault detection in power distribution networks is also creating a positive market outlook across the globe. Looking forward, IMARC Group expects the market to reach US$ 40.4 Billion by 2028, exhibiting a CAGR of 6% during the forecast (2023-2028).

Market Summary:

  • Based on the implementation, the market has been classified into substation, feeder, and consumer-side automation.

  • On the basis of the application, the market has been segmented into industrial, commercial, and residential.
  • Region-wise, the market has been divided into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
  • The competitive landscape of the market has been examined in the report, with some of the key players being ABB Ltd, Eaton Corporation Plc, G&W Electric Company, General Electric Company, Honeywell International Inc., Hubbell Power Systems Inc (Hubbell Incorporated), Itron Inc, Mitsubishi Electric Corporation, S&C Electric Company, Schneider Electric, Schweitzer Engineering Laboratories Inc. and Siemens AG.

Report Scope:

Report Features Details
Base Year of the Analysis 2022
 Historical Period 2017-2022
Forecast Period 2023-2028
Units US$ Billion
Segment Coverage Implementation, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered ABB Ltd, Eaton Corporation Plc, G&W Electric Company, General Electric Company, Honeywell International Inc., Hubbell Power Systems Inc (Hubbell Incorporated), Itron Inc, Mitsubishi Electric Corporation, S&C Electric Company, Schneider Electric, Schweitzer Engineering Laboratories Inc., and Siemens AG
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Global Electric Power Distribution Automation Systems Market to Reach US$ 40.4 Billion by 2028, Impelled by Increasing Requirement for Electricity
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