DUBLIN, August 11, 2017 /PRNewswire/ --
The "Global Power Distribution Automation Components Market 2017-2021" report has been added to Research and Markets' offering.
The global power distribution automation components market to grow at a CAGR of 6.20% during the period 2017-2021
Global Power Distribution Automation Components Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
The latest trend gaining momentum in the market is Emergence of IoT. IoT is the next generation technology for all the end-user applications owing to its superior advantages in the connectivity. In 2016, IoT already commercialized to a degree in the factory, thereby bringing an industrial revolution with the concept of Industry 4.0. The accompanying global digitalization is growing rapidly across the world and involves components that can identify and transmit conditional information. In addition to this, IoT is further simplifying the connectivity techniques with the use of IPv6-based Protocol addressing systems. In addition, the interoperability and data readability issues find a better solution with the advent of IoT.
According to the report, one of the major drivers for this market is Increasing investment in smart grids. Rising population and urbanization increased the demand for electricity over the past years and is expected to increase further in the coming years. According to the US Energy Information Administration, electricity generation in the world is expected to increase 69% by 2040 from 25.8 trillion kWh in 2020 to 36.5 trillion kWh in 2040, electricity being the highest growing form of energy consumption.
Further, the report states that one of the major factors hindering the growth of this market is High upfront cost. Power distribution automation components involve many expensive components to be employed with smart grids. Thus, new or retrofit projects are required to be installed with expensive sensors, automated relays, automated circuit breakers, and other monitoring and measuring equipment that involve huge capital. Similarly, modernization of switchgear further needs the plant devices to configure through highly expensive sensors and energy meters. Therefore, no electricity suppliers accept a major upgrade or new project without a long-term project scope and justified investment scenario.
- Schneider Electric
- Grid Solutions
Other Prominent Vendors
- Larsen & Toubro
- G&W Electric
- S&C Electric Company
Key Topics Covered:
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by components
PART 07: Market segmentation by end-user
PART 08: Geographical segmentation
PART 09: Decision framework
PART 10: Drivers and challenges
PART 11: Market trends
PART 12: Vendor landscape
PART 13: Key vendor analysis
PART 14: Appendix
For more information about this report visit: https://www.researchandmarkets.com/research/qk9t79/global_power
Research and Markets
Laura Wood, Senior Manager
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets