Electric Power Distribution Automation Systems Market Share, Industry Report 2023-2028
Industry Overview:
The latest report by IMARC Group, titled “Electric Power Distribution Automation Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028″, offers a comprehensive analysis of the industry, which comprises insights on the Electric Power Distribution Automation Systems Market Share. The report also includes competitor and regional analysis, and contemporary advancements in the market. The global electric power distribution automation systems market size reached US$ 27.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 40.4 Billion by 2028, exhibiting a growth rate (CAGR) of 6% during 2023-2028. Electric power distribution automation system (DAS) helps in collecting, analyzing, and managing the distribution of electricity. Its components majorly include sensors, processors, switches, information and communication networks, etc., which ensure efficient operations by the power system. The electric power DAS also improves the speed and accuracy of various distribution system processes. Additionally, it provides real-time operational notifications about fault detection, reactive power management, voltage monitoring, preventive equipment maintenance, grid integration of distributed energy resources, etc.
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Global Electric Power Distribution Automation Systems Market Trends:
Expanding infrastructural developments, including hotels, hospitals, corporate offices, etc., are resulting in the escalating demand for electricity. This is acting as one of the primary factors driving the electric power DAS market. Moreover, the growing need for energy efficiency and immediate fault detection in power distribution networks is further catalyzing the market growth. Besides this, rising investments by governing agencies of numerous countries in smart cities are leading to the upgradation of transmission and distribution infrastructures. Along with this, the increasing requirement for smart grids and replacements of existing infrastructures are also providing thrust to the market growth. Furthermore, growing investments in R&D activities are developing innovative technologies that reduce power failures and enhance the performance of existing systems. This will continue to propel the market growth for electric power DAS over the forecast period.
Competitive Landscape With Key Players:
The competitive landscape of the industry has also been examined along with the profiles 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.
Key Market Segmentation:
Implementation:
- Substation Automation
- Feeder Automation
- Consumer Side Automation
Application:
- Industrial
- Commercial
- Residential
Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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