PUNE, India, June 3, 2016 /PRNewswire/ --
According to a new market research report, "Advanced Distribution Management System Market by Software, by Service (Consulting, System Integration, Support and Maintenance), and By Region (North America, Europe, Asia-Pacific, Middle East and Africa, Latin America) - Global Forecast to 2021", published by MarketsandMarkets, the ADMS market size is expected to grow from USD 687.2 Million in 2016 to USD 1,788.4 Million by 2021, at a Compound Annual Growth Rate (CAGR) of 21.1% during the forecast period.
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The major drivers of this market include better cost efficiency, rising demand of energy, and higher carbon savings associated with smart grid. Furthermore, more than 200 smart city projects across the globe provide huge opportunities for ADMS vendors, service providers, software providers, and consulting companies.
Evolution of smart grid technology and accelerating demand for energy offer major opportunities for ADMS vendors and solution providers
The market size of ADMS has considerably grown over the past few years on the account of evolving smart grid and the emergence of technologies such as advanced metering infrastructure, outage management system, and energy management system. Rapid industrialization in emerging economies such as India and China has increased the demand for energy in these regions. Also, the demand for affordable and reliable energy has forced the utilities to upgrade to advanced technologies and enhance their electric and distribution network, thereby driving the adoption of ADMS.
System integration services segment is expected to grow at the highest CAGR during the forecast period
The ADMS market has been segmented into software, services, and regions. System integration and support and maintenance services are projected to grow at a high growth rate; and hence, will present good market opportunity during the forecast period. The increasing demand for system integrators to install, manage, and maintain various connected platforms acts as a major driving factor for the growth of system integrators in the ADMS market.
North America is expected to hold the largest market share in the ADMS market.
North America is expected to hold the largest market share and dominate the ADMS market from 2016 to 2021, with an increasing number of smart grid projects, rising need for energy, and increasing number of government mandates regarding carbon savings. Latin America and the Middle East & Africa (MEA) offer potential growth opportunities due to the upcoming smart grid projects, new economic and political reforms of the regions, increasing energy prices, and growing employment opportunities.
The major vendors covered in the ADMS market for this study include ABB Group (Switzerland), Oracle Corporation (U.S.), Schneider Electric SE (France), Seimens AG (Germany), and Indra Sistemas (Spain).
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