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Global Electric Power Distribution Automation Systems Market Growth

Inkwood Research estimates that the Global Electric Power Distribution Automation Systems Market is predicted to rise with a CAGR of 6.59% in terms of revenue over the forecasting years of 2022-2030.

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Global Electric Power Distribution Automation Systems Market Growth

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  1. Aging Power Infrastructure to enable Global Electric Power Distribution Automation Systems Market Growth Opportunities Inkwood Research estimates that the Global Electric Power Distribution Automation Systems Market is predicted to rise with a CAGR of 6.59% in terms of revenue over the forecasting years of 2022-2030. Distribution automation systems (DAS) offer enhanced situational awareness, intelligent controls, sensors, and communication. Also, these systems aid in stabilizing the distribution grids that handle a large amount of decentralized power generation plants. Whereas electric power distribution automation systems help manage, analyze, and collect electricity distribution. REQUEST FREE SAMPLE LINK -https://inkwoodresearch.com/reports/electric-power-distribution- automation-systems-market/#request-free-sample Aging Power Infrastructure offers Growth Opportunities The aging infrastructure is a major factor projected to have damaging impacts on the power industry. The aging energy generation & distribution infrastructure has emerged as an impending challenge. Accordingly, investments are being directed to infrastructure replacement or upgradation. Additionally, automation is playing a central role in profiting the distributed energy, given the modernization of aging infrastructure. Besides, a stable and constant energy supply is vital to economic progress, stability, and social well-being. At the same time, the existing infrastructure in several parts of the world is not equipped to handle the rising power demands or maintain the variable electricity offered by renewable energy sources. As a result, it has become necessary to improve the electricity grid. This is also due to the power

  2. interruptions caused by high demand, aging infrastructure, and storms, thereby impacting businesses and individuals. For instance, as per the US Department of Energy (DOE), almost 70% of the distribution and transmission lines are over 25 years old. Such factors boost the global electric power distribution automation systems market growth. Substation Automation: Largest & Fastest-Growing Implementation Segment The growing deployment of substation automation is attributed to the rising prioritization of restricting transmission and distribution losses by energy and power utilities. Also, several industries are looking to enhance the reliability and performance of electric circuits and minimize outage time, offering growth opportunities for the segment. Besides, recent market trends like the emergence of IoT and smart meter installation offer real-time monitoring of electricity usage to electricity billing companies and consumers. Asia-Pacific: Fastest-Growing Region The expanding industrial sector and the rising number of manufacturing facilities propel market growth in the region. Also, the increasing investments by power utilities to advance their distribution and transmission networks boost market demands. For instance, Australia has been undertaking initiatives to modernize its energy infrastructure, wherein the government invests almost $5 billion annually for the transmission distribution network. The competitive rivalry is high, with companies competing on the basis of geographical presence, ability to serve different application areas, and prices. Some of the key firms operating in the market include General Electric Company, S&C Electric Company, Honeywell International Inc, Mitsubishi Electric Corporation, etc. Request for Customization: https://inkwoodresearch.com/request-for-custom-report/ About Inkwood Research Inkwood Research specializes in syndicated & customized research reports and consulting services. Market intelligence studies with relevant fact-based research are customized across industry verticals such as technology, automotive, chemicals, materials, healthcare, and energy, with an objective comprehension that acknowledges the business environments. Our geographical analysis comprises North & South America, CEE, CIS, Middle East, Europe, Asia, and Africa. Contact Us https://www.inkwoodresearch.com sales@inkwoodresearch.com 1 857-302-4704 Related Reports: GLOBAL SUBSTATION AUTOMATION MARKET GLOBAL SMART GRID DATA ANALYTICS MARKET GLOBAL SMART GRID MARKET

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