During the last 60 years there has been an impressive increase in the capabilities and power of technology, but this has not been matched by an equivalent increase in the quality of life of most people and environmental issues have grown at a catastrophic rate. The critical metrics being used by decision makers are no longer fit-for-purpose and need to be upgraded ... as Peter Drucker, the management guru, said years ago 'You manage what you measure!'. Today, I argue that if we improve metrics we can also improve the world ... better society, better environment and better economic performance. Better metrics are needed everywhere and need to be actionable. Profit performance is important, but so is social performance and environmental performance ... and technology ought to be an important enabler of this sort of progress and performance.
https://www.marketsandmarkets.com/Knowledgestore.asp
Aashish Mehra
February 16th 2023 7:30 AM
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Distribution Automation Market worth $28.1 billion by 2027
According to a research report 'Distribution Automation Market by Component (Field Devices, Software, Services), Communication Technology (Wired Communication Technology, Wireless Communication Technology), Utility (Public, Private) and Region - Global Forecast to 2027' published by MarketsandMarkets, the global distribution automation market is estimated to be valued at USD 15.8 billion in 2022 (estimated year) and is projected to reach USD 28.1 billion by 2027 (forecast year); growing at a CAGR of 12.2% during the forecast period.
The distribution automation market has promising growth potential due to the rising deployment of smart grid technologies and increasing demand for the electricity in remote areas.
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Some of the prominent key players are:
- Landis+Gyr (Switzerland),
- Itron Inc (US),
- Hubbell (US),
- Xylem (US),
- Schweitzer Engineering Laboratories, Inc. (US),
- G&W Electric (US),
- S&C Electric Company (US),
- Toshiba (Japan) and many more..
Field Devices segment expected to dominate distribution automation market, by component, during the forecast period
The field devices segment holds the largest share of the distribution automation market. The large market share can be attributed to the advantage it offers such as the remote monitoring of distribution power grids to reduce the duration of power outages in Asia Pacific and Africa.
Wireless communication technology 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 communication technology and wireless communication technology, wherein wireless communication technology accounts for the fastest growing with a higher CAGR. The growth is attributed to increase in government initiatives and technological advancements pertaining to distribution automation to improve and maintain high levels of service reliability and operating efficiency.
Private utility to witness fastest growth rate in distribution automation market, by utility, during forecast period
The distribution automation market, by utility, is divided into private and public, wherein public segment accounts for the largest share. Private is fastest growing segment during the forecast period, the growth is attributed to increase in government support by funding towards private players.
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Asia Pacific 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 & Europe. North America is a significant contributor to the distribution automation market in the current scenario owing to the rapidly increasing cost-competitiveness of electricity, which enable consumers to have access to clean fuel through distributed energy sources.
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MarketsandMarkets’s flagship competitive intelligence and market research platform, 'Knowledge Store' connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
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Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road, Suite 430
Northbrook, Illinois - 60062
USA : 1-888-600-6441
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