Electric power distribution automation systems market worth $23.8 B by 2026
North America is expected to be the leading contributor to the global market revenue during the forecast period.
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The electric power distribution automation systems market is anticipated to reach around $23.8 B by 2026, according to a new research published by Polaris Market Research.
In 2017, the industrial segment dominated the global market, in terms of revenue. North America is expected to be the leading contributor to the global market revenue during the forecast period.
The growing adoption of smart cities, along with high demand of smart grids has boosted the adoption of electric power distribution automation systems. The rising demand for electricity, and growing demand for efficient and low-cost solutions for efficient power distribution further support the growth of electric power distribution automation systems market. Increasing investments by vendors in technological advancements, growing need to update existing networks, and increasing ageing infrastructure would accelerate the adoption of electric power distribution automation systems during the forecast period. Growing demand from emerging economies, increasing adoption smart grid applications, and technological advancements are expected to provide numerous growth opportunities in the coming years.
The key players in the market include General Electric, Eaton Corporation Plc, Mitsubishi Electric Corp., ABB Ltd., G&W Electric Company, Schneider Electric, Elster Solutions, Schweitzer Engineering Laboratories, Siemens AG, and S&C Electric Company.
Source: Polaris Market Research