The Distribution Automation Market is estimated to grow at a CAGR of 7.29% from 2018 to 2023, to reach a projected market size of USD 16.81 billion by 2023. Distribution automation is a solution, which includes monitoring, protecting, controlling, and maintaining the distribution network. Distribution automation is mainly divided into two areas including distribution substation & feeder automation and customer-end automation. Increasing renewable power generation and upgrade of ageing distribution infrastructure are the key factors contributing to the growth of the distribution automation market. Increasing distributed energy generation in developing countries such as India can create opportunities for the distribution automation market.
Browse 68 market data Tables and 29 Figures spread through 134 Pages and in-depth TOC on "Distribution Automation Market by Component (Field Device (Smart Meters, Voltage Regulators, and Smart Sensors), Software & Services, Communication Technology (Wired, and Wireless)), Type of Utility (Public, Private), and Region - Global Forecast to 2023"
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Asia Pacific is expected to be the fastest-growing market for distribution automation from 2018 to 2023. The demand for distribution automation system in Asia Pacific is driven by rapid industrialization, increasing population, and urbanization. China and Japan are expected to hold a significant share of the distribution automation market in the region in 2018. Utilities in these countries require the refurbishment of an obsolete distribution management system. Government support for reliable power supply through minimizing the power outage will also drive the distribution automation market in both countries. Moreover, the distribution automation market is also expected to grow significantly in countries such as India and Australia during the forecast period. The ability to optimize the energy allocation in the distribution network and integration of new power generation capacity from renewable energy resources are expected to drive the distribution automation market in India and Australia.
Drivers –
• Increasing Renewable Power Generation
• Upgrade of the Aging Distribution Infrastructure
• Need for Energy Efficiency, Protection, and Immediate Fault Detection in the Power Distribution Network
Restraints –
• High Initial Installation Cost of Distribution Automation System
The public utility is expected to be the fastest-growing segment of the distribution automation market from 2018 to 2023. The growth of this segment can be attributed to the significant grants given by the government to enhance the distribution network of public utilities. The grants offered by the government will help in modernizing the grid, which in turn will boost the market for distribution automation. The Middle East & Africa is the fastest-growing market for public utility and offers various business opportunities to distribution automation solution providers in the public utility segment. The governments of several countries in the region are focusing on increasing the contribution of renewable energy sources to meet the domestic electricity demand. This will increase the grid complexity, which in turn would drive the market of distribution automation to minimize the grid complexity.
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The field device segment is expected to be the fastest-growing market, by component, from 2018 to 2023. Field devices are an integral part of the distribution network and help to mitigate the losses occurring from power outage and voltage fluctuation. The increasing deployment of field devices in distribution automation market will drive the field device segment. Moreover, increasing investments in field devices, particularly in Asian countries such as China, India, Japan, and South Korea, will result in the higher market share of field device segment in the distribution automation market.
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