Distribution Automation Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 – 2019
Albany, NY -- (SBWIRE) -- 12/10/2015 -- A study from Transparency Market Research (TMR) emphasizes that advancement in distribution automation (DA) influences decision-making processes in the majority of socioeconomic and business aspects. This research study is called "Distribution Automation Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019".
Browse the full Distribution Automation Market report at http://www.transparencymarketresearch.com/distribution-automation-market.html
Distribution automation involves automation of distribution systems and this factor decreases functioning and maintenance costs. Costs are reduced as DA has the capability to detect, isolate, and restore faults well ahead. The decrease in cost is the main driver for global distribution automation (DA) market . The DA market had reached a value of US$9,986.3 million in 2012 and is expected to expand at a CAGR of 8.5% over the next few years and reach a value of US$17,677.2 million by the end of 2019.
The reduction of power outages, consistent and efficient distribution of power systems and improved quality are among the factors stimulating the market for Distribution Automation (DA) worldwide. Whereas, the communication system technology and infrastructure lack standardization, and switchgears are not updated to suit contemporary standards and these factors deter market growth. However, there are market opportunities that exist in technological innovations and the yet unexplored rural market for DA systems. Knowledge about conservation of energy to reduce power expenses is a market driving aspect in rural areas.
Global DA Market Dynamics :
Two of the major opportunities in the DA market include untapped rural markets and technological innovation. Growing awareness among households for distribution automation and towards voltage conservation application to save energy and reduce power bills is driving the DA market in the rural regions, where many untapped opportunities exist. In addition, accelerating demand for green technology development and heavy investment in renewable energy technologies from China will lead to tremendous need for DA system implementation in the future. The Regulatory Innovation Task Group (RITG) is in the process of implementing a strategy which promotes an efficient and durable incentive-based regulatory model. This strategy also promotes development of a more effective policy and regulatory framework to support greater investment in DA infrastructure.
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DA systems allow effective monitoring and controlling of assets, restoration of services, and identification and isolation of faults. This enhances the distribution system's efficiency through energy and system loss saving, and increasing the DA system's reliability by reducing the frequency and duration of power outages. It also increases the flexibility of the DA system by enabling higher penetration of distributed energy resources. Factors such as reduced number of outages and their duration, improved reliability and efficiency of the distribution system, and cost and maintenance reduction with enhanced power quality are fueling the global DA market.
However, elements such as the absence of standardization in communication infrastructure and technology along with modernization of existing switchgears inhibit the growth of the global DA market.
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