Global Electric Power Distribution Automation Systems Market is estimated to reach approximately $23.8 billion by 2026, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2017-2026.
In the year 2017, the industrial segment led the global market, with regards to revenue. In terms of regional growth, North America is likely to emerge as a leading revenue contributor over the forecast period.
As per the report, the increasing adoption of smart cities, in tandem with high demand for smart grids has propelled the adoption of electric power distribution automation systems. The burgeoning electricity demand and growing need for effective and cost-efficient solutions for proper power distribution will further proliferate the growth of electric power distribution automation systems industry.
High investments into technological advancements, burgeoning need for upgradation of existing networks, and the surge in aging infrastructure would boost the adoption of electric power distribution automation systems over the forecast period. Moreover, high demand from developing nations, rapid adoption of smart grid applications, and advancements in technology are projected to present industry players with numerous growth opportunities over the coming years.
North America procured the highest returns in the market in 2017 and is anticipated to lead the global market during the forecast period. The existence of established telecom and cloud infrastructure along with increasing trends of smart cities would drive the electric power distribution automation systems market growth in the region.
The rising demand from the energy sector and technological enhancements will further support market growth in the region. Utilization of smart technologies in energy and utilities, investments in transmission and distribution infrastructure, as well as the upsurge in aging infrastructure is projected to favor North American electric power distribution automation systems market growth over the estimated duration, cites the report.
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The report also covers the Europe electric power distribution automation systems market with respect to regional contributors like UK, Germany, France, Italy and rest of Europe and the Asia Pacific market with respect to regional contributors like India, China, Japan and rest of Asia Pacific.
The competitive landscape of the worldwide electric power distribution automation systems market comprises of eminent industry players such as Eaton Corporation Plc, General Electric, Mitsubishi Electric Corp., G&W Electric Company, ABB Ltd., Schneider Electric, Schweitzer Engineering Laboratories, Elster Solutions, S&C Electric Company, and Siemens AG. The growth strategies employed by these companies include new product launch and collaborations with other market leaders in order to innovate and introduce new products to meet the evolving consumer demand.
The report also delivers a comprehensive analysis of the electric power distribution automation systems market drivers, restraints, and opportunities over the estimated timeline. An in-depth analysis of the market in terms of component, implementation, end-user type, and regional landscape is also included in the report. Additionally, company profiles of market majors have been documented in the report under business overview, product benchmarking, financials, and recent developments.