CHICAGO, May 15, 2024 /PRNewswire/ — Distribution Automation Market in terms of revenue was estimated to be worth $19.3 billion in 2024 and is poised to reach $36.5 billion by 2029, growing at a CAGR of 13.6% from 2024 to 2029 according to a new report by MarketsandMarkets™.

Distribution automation (DA) refers to a collection of technologies, strategies, and practices used by electric utilities to improve the efficiency, reliability, and safety of their power distribution networks. It essentially involves automating various tasks and processes within the distribution system. The Distribution Automation Market has promising growth potential due to the factors such as increase in need to optimize power distribution, reduce energy waste and improve system performance & increase in need for the integration of renewable energy sources.

Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=65029172

Browse in-depth TOC on “Distribution Automation Market“

352 – Tables
64 – Figures
316 – Pages

Distribution Automation Market Scope:

Field Devices segment expected to dominate Distribution Automation Market, by offering, during the forecast period

The Distribution Automation Market, by offerings, are divided into field devices, software & services. With respect to the Distribution Automation Market, the field devices sector is the largest. The benefits it provides is the ability to remotely monitor distribution power grids to shorten the length of power outages, are responsible for its significant market dominance. Equipped with digital controls, switches, and sensors, they automate various electricity delivery functions.

Wireless to witness fastest growth rate in Distribution Automation Market, by communication technology, during forecast period

The Distribution Automation Market, by communication technology, is divided into wired and wireless. Wireless is the fastest-growing segment in Electricity Distribution Automation by communication technology, owing to rising need for real-time data interchange and data-driven decisions. Wireless communication technology also allows information to be transferred over long distances without the use of electrical lines or conductors, providing secure transmission while being cost-effective.

Private utilities to witness fastest growth rate in Distribution Automation Market, by utility, during forecast period

The Distribution Automation Market, by utility, is divided into private utilities and public utilities, wherein public segment accounts for the largest share. Private is fastest growing segment during the forecast period, the growth is attributed to private companies investing in advanced metering infrastructure, artificial intelligence, and smart grid infrastructure to improve reliability, faster complaint resolution, and real-time energy consumption. With increasing demand and technical developments, the government is looking to private partners to help with power distribution. Private players are viewed as valuable contributions to the sector due to their increased efficiency and experience. Private businesses may greatly contribute to the country’s energy infrastructure by collaborating with the government on the Public-Private Partnership model, making distribution more cost-effective and accessible to all.

Middle East & Africa to be fastest-growing Distribution Automation Market during forecast period

In this report, the Distribution Automation Market has been analyzed for five regions, namely, Asia Pacific, North America, Europe, South America and Middle East & Africa. The Middle East and Africa emerge as the most rapidly advancing region in the market, projected to achieve a CAGR of 20.9% during the forecast period from 2024 to 2029. This growth is attributed to several factors, including the expansion of the industrial sector, initiatives to electrify smart cities like NEOM, government efforts to develop smart grid infrastructure, and projects focusing on electrifying rural and remote areas. Moreover, key players such as ABB, Schneider Electric, and Siemens are actively investing in the region to bolster their market presence and capitalize on the rising demand for distribution automation technologies.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=65029172

Key Market Players of Distribution Automation Industry:

Some of the major players in the Distribution Automation Market are ABB (Switzerland), Schneider Electric (France), Siemens (Germany), Eaton (Ireland), and General Electric Company (US). Other major players include S&C Electric Company (US), Toshiba (Japan), Landis+Gyr (Switzerland), Itron Inc (US), Hubbell (US), Xylem (US), Schweitzer Engineering Laboratories, Inc. (US) and G&W Electric (US). The major strategies adopted by these players include new product launches, contracts, agreements, partnerships, and expansions

Recent Developments of Distribution Automation Industry:

• In March 2024, Itron Inc. has completed the acquisition of Elpis Squared for USD 35 million. This acquisition equips Itron with the capability to integrate real-time, high-resolution “grid edge” data into the power grid planning, operations, and engineering processes, marking a pioneering advancement for the industry. The grid edge represents the intersection where smart or connected infrastructure intersects with the electric power grid, as defined by the energy-efficiency advocacy group Alliance to Save Energy.
• In March 2024, Hitachi, Ltd. announced an investment exceeding USD 32 million in the expansion and modernization of its power transformer manufacturing plant in Bad Honnef, Germany. Scheduled for completion by 2026, the project is anticipated to create up to 100 new positions in the area and cater to the increasing need for transformers to facilitate Europe’s transition to clean energy. This investment entails expanding the facility to more than 15,000 square meters. Alongside process improvements, the upgraded plant aims to enhance operational efficiency and elevate overall manufacturing capacity to meet escalating demands. The expansion of this facility mirrors Hitachi Energy’s broader initiative to scale up its presence in Europe.
• In March 2023, S&C Electric Company has revealed its plans to enlarge its manufacturing presence in the United States with a new 275,000-square-foot facility situated in Palatine, Illinois. Located approximately 25 miles away from S&C’s existing 47-acre manufacturing campus in Rogers Park, Chicago, this expansion underscores our dedication to U.S. manufacturing and the Chicagoland region. It enables us to enhance our support for customers by providing solutions that drive forward a robust and smart electrical grid.
• In March 2023, TOSHIBA CORPORATION has invested in Open Utility Ltd., a startup headquartered in the UK that specializes in offering a platform for the flexible trading of distributed energy resources (DER). This strategic investment, along with efforts to bolster ties with Piclo, aims to enhance Toshiba ESS’s insight into the present landscape of related industries and the institutional frameworks in Europe and the United States, leveraging Piclo’s business operations and ecosystem. Additionally, the company intends to craft services tailored for DER flexibility markets anticipated to emerge in the future.
• In March, 2022 ABB has opened a R&D and engineering facility, ABB Innovation Center (AIC) in Bengaluru, India. The AIC facility focusses on the development of ABB digital solutions and on the electrification and motion business segments of the company. Additionally, the facility provides engineering and support services for process automation business globally.

The primary interviews conducted for this report can be categorized as follows:

• By Company Type: Tier 1- 65%, Tier 2- 24%, and Tier 3- 11%
• By Designation: C-Level- 30%, Director Level- 25%, and Others- 45%
• By Region: North America – 20%, Europe – 25%, Asia Pacific – 30%, South America – 10%, and Middle East & Africa – 15%

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=65029172

Distribution Automation Market – Key Benefits of Buying the Report:

The report defines, describes, and forecasts the Distribution Automation Market, by offering, communication technology, utility, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market, which include the analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the Distribution Automation Market.

The report provides insights on the following pointers:

• Governmental initiatives to provide last mile connectivity of electricity, and boost in Smart Grid Infrastructure are few of the key factors driving the Distribution Automation Market. Factors such as high installation costs of distribution automation systems restrain the growth of the market. The need for greater flexibility and control in electricity supply is expected to present lucrative opportunities for the players operating in the Distribution Automation Market. The threats posed by the lack of skilled personnel and the increasing threat of automated cyber-attacks pose a major challenge for the players, especially for emerging players operating in the Distribution Automation Market.
• Product Development/ Innovation: The Distribution Automation Market is witnessing significant product development and innovation, driven by the growing demand for smart grid infrastructure.
• Market Development: Siemens and Areti have announced their collaboration on the RomeFlex project, aimed at addressing congestion and voltage fluctuations within the strained power grids of Italy’s capital city. Areti, playing a pivotal role in Italy’s energy transition, has devised an innovative local flexibility market architecture, which will be further enhanced by Siemens’ expertise in the energy domain and specialized technology. Over the next decade, it’s anticipated that peak electricity demand on Rome’s DSO power grid will rise from 2,200 MW to 3,300 MW. To effectively manage this surge in energy demand and mitigate potential grid challenges such as blackouts or voltage issues, Areti is rapidly increasing its grid capacity, accelerating its digital transformation to usher in the next era of grid management.
• Market Diversification: Siemens has unveiled its latest Gridscale X software. This product empowers Independent System Operators (ISOs) and Transmission System Operators (TSOs) to centrally oversee their network data using a Digital Twin of the power grid, enhancing efficiency in planning, development, and operations. The Gridscale X Network Model Manager adeptly manages various grid scenarios, including the integration of new or changing assets, streamlines project management, and encourages collaboration among utilities. Designed with cloud readiness and full accessibility via APIs, the software features a modular architecture and state-of-the-art user interface. Positioned as the next evolution in Siemens’ network model management offerings, the Gridscale X Network Model Manager is a component of Siemens Xcelerator, an open digital business platform facilitating customers’ digital transformation journey.
• Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players, like include ABB (Switzerland), Schneider Electric (France), Siemens (Germany), Eaton (Ireland) and General Electric Company (US), among others in the Distribution Automation Market.

Related Reports:

Switchgear Market  – Global Forecasts to 2028                                                                                         

Power Grid Market – Global Forecasts to 2028

Get access to the latest updates on Distribution Automation Companies and Distribution Automation Industry Growth

About MarketsandMarkets™:

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Website: https://www.marketsandmarkets.com/

Logo: https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.jpg

View original content:https://www.prnewswire.com/news-releases/distribution-automation-market-worth-36-5-billion–marketsandmarkets-302145828.html

SOURCE MarketsandMarkets