Friday August 2, 2019 0 comments
BOULDER -- Annual global revenue for distribution automation technologies is forecast to grow from $10.9 billion in 2019 to $20.9 billion in 2028 at a CAGR of 7.5%, according to a new report from Navigant Research.
The report analyzes the technologies and strategies being deployed on the distribution grid to increase grid reliability, visibility, resiliency, and flexibility.
The distribution grid is among the most critical, dynamic, and fastest changing pieces of the 2019 electric grid. During the next decade, utilities around the world are expected to make significant investment in distribution grids, specifically in distribution automation (DA).
“The importance of distribution automation is consistent across all types of utilities,” said Michael Hartnack, Navigant research analyst.
“Ratepayer, regulator, and stakeholder demand for improved grid performance is driving much of this investment, with increasingly widespread deployments of distributed energy resources (DER) also growing the market.”
According to the report, developed regions such as North America and Europe are witnessing high growth and significant distribution automation deployments, while the pure size and rate of development of the distribution grid in Asia Pacific bolsters the market and its growth rate there.
Developing regions typically include higher levels of automation for new construction, but existing grids in these areas are left unimproved. This situation drives an overall high growth rate for Latin America and the Middle East & Africa despite a lower overall market size.
The report, Distribution Automation Technologies, analyzes the key trends, drivers, and barriers to adoption of data platforms and other big data management solutions within the utility industry.
The study includes several submarkets within the utility data management space alongside global market adoption trends. Global market forecasts, segmented by technology, application, and region, extend through 2027.
The report examines different application segments for data management: data platforms, connected devices, edge computing, data storage, and IoT analytics.
An Executive Summary of the report is available for free download on the Navigant Research website.