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Markets and Markets, an international market research agency, predicts that the global distribution automation market will grow from $11.
82 billion in 2018 to $16.
81 billion in 2023, with a CAGR of 7.
29%
during the period.
The global distribution automation market reached $11.
82 billion in 2018
The global distribution automation market is driven
by increasing renewable energy generation and growing demand for energy efficiency.
Advancements in IoT and communication technologies also present significant opportunities
for the distribution automation market.
On the basis of component, the field device segment is expected to account for a major share
of the market during the forecast period.
Increasing investments in refurbishing aging infrastructure and government initiatives to promote the use of energy-efficient power generation resources are the major factors
driving the distribution automation market in the European region.
Market players in Europe such as ABB, Schneider Electric and Eaton are involved in the manufacture
of field devices.
These factors make the field device segment hold the highest market share
.
By application type, the utility sector is expected to be the largest distribution automation market
between 2018 and 2023.
Factors driving the utility distribution automation market include significant government efforts
to expand public services.
Government grants will contribute to the modernization of the power grid, thereby boosting the distribution automation market
.
By region, Asia Pacific is the fastest growing market
for distribution automation.
The distribution automation market in Asia Pacific is driven
by countries such as China, India, Japan, and Australia.
Rapid industrialization in India, China, and Australia is expected to drive the implementation of
distribution automation systems.
These countries are increasing renewable energy generation to meet growing energy demand
.
According to the 21st Century Renewable Energy Policy Network (REN21), China accounted for 45%
of total global investment in renewable energy generation in 2017.
Increasing investments in renewable energy will drive the distribution automation market growth
in Asia Pacific.
The major suppliers to the global distribution automation market include Siemens (Germany), ABB (Switzerland), General Electric (USA), Schneider Electric (France) and Eaton (Ireland).
，
Markets and Markets, an international market research agency, predicts that the global distribution automation market will grow from $11.
82 billion in 2018 to $16.
81 billion in 2023, with a CAGR of 7.
29%
during the period.
The global distribution automation market reached $11.
82 billion in 2018
82 billion in 2018
The global distribution automation market is driven
by increasing renewable energy generation and growing demand for energy efficiency.
Advancements in IoT and communication technologies also present significant opportunities
for the distribution automation market.
On the basis of component, the field device segment is expected to account for a major share
of the market during the forecast period.
Increasing investments in refurbishing aging infrastructure and government initiatives to promote the use of energy-efficient power generation resources are the major factors
driving the distribution automation market in the European region.
Market players in Europe such as ABB, Schneider Electric and Eaton are involved in the manufacture
of field devices.
These factors make the field device segment hold the highest market share
.
By application type, the utility sector is expected to be the largest distribution automation market
between 2018 and 2023.
Factors driving the utility distribution automation market include significant government efforts
to expand public services.
Government grants will contribute to the modernization of the power grid, thereby boosting the distribution automation market
.
By region, Asia Pacific is the fastest growing market
for distribution automation.
The distribution automation market in Asia Pacific is driven
by countries such as China, India, Japan, and Australia.
Rapid industrialization in India, China, and Australia is expected to drive the implementation of
distribution automation systems.
These countries are increasing renewable energy generation to meet growing energy demand
.
According to the 21st Century Renewable Energy Policy Network (REN21), China accounted for 45%
of total global investment in renewable energy generation in 2017.
Increasing investments in renewable energy will drive the distribution automation market growth
in Asia Pacific.
The major suppliers to the global distribution automation market include Siemens (Germany), ABB (Switzerland), General Electric (USA), Schneider Electric (France) and Eaton (Ireland).
，
