2019 Analysis and Review of Advanced Distribution Management Systems Market by Solution - ADMS Platforms and Services for 2019 - 2029
Valley Cottage, NY -- (SBWIRE) -- 06/29/2020 -- Advanced Distribution Management Systems Market Set for 19% CAGR Through 2029; Smart Grid Applications to Influence Developments: Future Market Insights
Major advanced distribution management systems vendors are focusing on the needs of energy and utilities businesses to expand their product offerings and improve performance.
Future Market Insights, Dubai: The global advanced distribution management systems market will witness an exponential growth outlook with a projected 19% CAGR during the forecast period (2019 – 2029). According to a new study by Future Market Insights (FMI), the market for advanced distribution management systems is largely influenced by upsurge in demand for energy conservation and optimal distribution management.
"Key players in the market can gain substantially by promoting advanced distribution management systems to utility companies, as these systems enable network functions in multiple scenarios to boost distributed renewable energy resources," reveals the FMI report.
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Key Research Findings of FMI's Advanced Distribution Management Systems Market Study
- The energy & utilities industry will account for a major market share owing to increasing need for reduced energy losses.
- The advanced distribution management systems market is gaining substantial tailwinds from the fault location and isolation & service restoration segments.
- Supervisory control & data acquisition (SCADA) continues to be the conventional application for the advanced distribution management systems market.
- Asia Pacific excluding Japan will display significant growth potential, with a major support from favorable government policies.
Key Growth Drivers – Advanced Distribution Management Systems Market
- Importance to energy conservation and peak demand management are key growth drivers for advanced distribution management systems market.
- The rise in numerous advanced digital technologies such as smart grid home area networks are projected to increase consumption of advanced distribution management systems.
- Leading manufacturers continue to adopt innovative designs to boost cost effectiveness and optimization of energy distribution operations.
Key Impediments – Advanced Distribution Management Systems Market
- The increasing volume and complexity of data associated with utilities and distribution networks is an ongoing challenge for market players.
- Issues with interoperability, old infrastructure, and inadequate standard interfaces are restricting global growth.
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Competition Structure Analysis – Advanced Distribution Management Systems Market
The competition landscape of advanced distribution management systems market remains largely consolidated. Key producers are seeking to adopt market initiative strategies involving collaborations with government backed utilities bodies to sustain growth and to keep ahead of the competition. Manufacturers are also entering strategic collaborations with private partners to bolster scope of product advancements.
Some of the key players in the advanced distribution management systems market include, but are not limited to Open Systems International Inc., Advanced Control Systems Inc., and Schneider Electric SE.