Distribution Automation Market Revenue to Attain USD 36.88 Bn by 2033

10 Oct 2024

Share :

Table of Content

1. Distribution Automation Market Revenue and Trends 2. Market Overview 3. Report Highlights of the Distribution Automation Market 4. Distribution Automation Market Trends: 5. Regional Stance 6. Distribution Automation Market Highlights 7. Market News

Distribution Automation Market Revenue and Trends

The global distribution automation market revenue surpassed USD 18.15 billion in 2024 and is predicted to attain around USD 36.88 billion by 2033, expanding at a CAGR of 8.2% during the forecast period. The demand for distribution automation (DA) is rising with the increasing demand for electricity and the need for grid reliability. DA can detect faults and restore power lines after interruptions from control centers, improving the reliability of power systems.

Market Overview

Distribution automation (DA) is a technology that includes sensors, switches, processors, and communication and information networks through which a utility can improve the operational efficiency of its power distribution system by collecting, analyzing, and automating data. It monitors, measures, and controls electrical loads on distribution systems, leading to improved speed and accuracy of several key distribution system processes, such as voltage monitoring and control, fault detection, outage management, reactive power management, and grid integration of distributed energy resources.

DA also involves various hardware and software. They help in providing real-time notifications about various components involve in the grid, such as switches, sensors, processors, voltage regulators, fault detectors, and capacitors. This further enhances the efficiency of the electricity supply.

Report Highlights of the Distribution Automation Market

• By type, the wireless segment is supposed to develop at a quicker rate than the wired segment, as wireless technology facilitates fast information access from distant locations. The benefits of wireless technology in distribution automation include cost reduction, better asset management, and real-time information delivery.
• Based on application, the public utilities segment is projected to grow at a rapid pace during the projection period. This is mainly due to the rapid expansion of public utilities and the rising government funding to modernize them.
• On the basis of component, the software segment dominated the distribution automation market with the largest share in 2023. This is due to the increasing need for grid management solutions to improve grid efficiency. However, the software monitors power quality and identifies errors that occur in the distribution networks.
• The field devices segment is anticipated to capture the largest share of the market during the forecast period, owing to the rising need for distribution network optimization. Field devices are crucial in distribution networks, which help manage losses from power outages and voltage fluctuations.

Distribution Automation Market Trends:

• Integration of IoT: With the growing incorporation of IoT and connected devices, there is a high demand for grid resilience. However, distribution automation provides real-time information about IoT devices and is well-suited to optimize grid efficiency.
• Rising modernization: The modernization of aging power distribution infrastructure is rising due to the growing trend of smart grids. Governments are also investing in smart grids to electrify rural areas and optimize power distribution. However, DA helps in grid automation, leading to cost reduction.
• Integration of AI: Integrating AI features in distribution automation systems enhances overall system performance by analyzing data, predicting maintenance, and detecting faults, significantly reducing downtime.
• Increase in electricity demand and grid infrastructures: The increasing demand for electricity and the rapid expansion of grid infrastructure worldwide create immense opportunities in the distribution automation market. There is a necessity for energy efficiency, quick fault detection, and protection of supply network, which boosts the demand for DA.

Regional Stance

Asia Pacific led the distribution automation market with the largest share in 2023. With the growing industrialization and urbanization in countries like India, China, Singapore, South Korea, Hong Kong, Indonesia, Taiwan, and Malaysia, there is a huge demand for interrupted power supply. Governments in these countries are also making efforts to modernize grids. For instance, the Indian government established the National Smart Grid Mission to address key issues of the smart grid in the country and to make the Indian power infrastructure reliable. Moreover, these countries are increasingly focusing on clean energy to fulfill energy needs.

North America is expected to witness significant growth in the market during the forecast period. North America, particularly the U.S., has been at the forefront of developing advanced technologies. The rising advancements in smart grid technology are a major factor responsible for market expansion in the region. In addition, the federal and state governments' focus on enhancing grid reliability also contributes to regional market growth.

Distribution Automation Market Highlights

Market News

• In September 2024, Trilliant, a prominent international solutions provider for smart grid and advanced metering infrastructure, announced partnership with Sense to help utilities deploy edge analytics at scale.
• In July 2024, Toshiba announced investment of JPY 10 billion to increase production capacity of power transmission and distribution equipment in India.

Market Segmentation

By Type

• Wired
• Wireless

By Product

• Monitoring and Control Devices
• Power Quality and Efficiency Devices
• Switching and Power Reliability Devices

By Application

• Private
• Public

By Components

• Software
• Field Devices
• Services

By End User

• Industrial
• Commercial
• Residential

Get this report to explore global market size, share, CAGR and trends, featuring detailed segmental analysis and an insightful competitive landscape overview@ https://www.precedenceresearch.com/checkout/1893

You can place an order or ask any questions, please feel free to contact at sales@precedenceresearch.com | +1 804 441 9344