Global Distribution Automation Market: Snapshot
The global distribution automation market is likely to grow at an exponential rate during the forecast period 2013 – 2019, due to the rise in need for automation from utilities sector. Increasing demand from commercial sector which includes hospitals, hotels, offices, and data centers is predicted to augment the global distribution automation by increasing the sales of the product. Adoption of distributed automation solution is mainly because to avoid power outrage in these places. Distribution automation system is a set of communication technologies, sensors, and intelligent processors that allows to monitor and coordinate the distribution assets of electricity. Distribution automation system is an integral part of smart grid systems as it is known to provide benefits of efficient and reliable operations within the grid.
According to a recent report, published by Transparency market Research, the global distribution automation market anticipated to expand at whooping CAGR of 8.3% during the forecast period. The value of the market is predicted to be worth at US$17677.2 mn by the end of the assessed period.
Industrial Sector to Play Significant Role in the Global Distribution Automation Market
The global distribution automation market is classified on the basis of end users, product and region. On the basis of product type the market is segregated into monitoring and control devices, power quality and efficiency devices, and switching and power reliability. Amongst the pack monitoring and control devices segment held 36.1% of the market. These devices are used to detect any faulty present in the smart grid coupled with reducing the time take for restoration from hours to few minutes. These functions have helped the monitoring and control devices to grow significantly. On the other hand it has been noticed that power quality and efficiency segment is likely to become the fastest growing segment particular in Europe and North America, owing to monitor, alarm and control on power in various power quality events.
On the basis of end use segment, the market is bifurcated into commercial segment, industrial segment, and residential segment. The industrial end user segmented held the major share in terms of revenue which accounted for 51.3% of the total revenue in the DV market. Islanding operation, load shedding, power quality improvement, energy efficiency, and self-healing functionality is anticipated to increase the sales of the market product. On the other hand, residential segment is likely to expand at a stupendous CAGR of 12.0% due to the required for improved reliability b declining the number and duration of outages. Another factor helping the segment to grow is that it helps in reducing the electricity bills by reducing the electricity bills.
Faster Adoption in Technology Helps Europe to Remain Ahead
On the basis of geography the market is segmented into North America, Europe, RoW, and Asia Pacific. Europe played a major role in generating revenues in the global market. Operating cost and saved maintenance is considered to be the major driver behind Europe’s performance. North America on the other hand is focusing on deploying AMI deployment. India and China are testing their capabilities by investing more on equipment design. Rise in demand for green technology accompanied with China government’s heavy investment in renewable energy technology is helping the region to grow. On the flip side absence of standardization in communication infrastructure and technology accompanied with modernization of existing switchgears are factors which are deterring the growth of the market.