The global distribution automation solutions market to grow at a CAGR of 5.51% during the period 2017-2021.
The report, Global Distribution Automation Solutions 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.
One trend in market is emergence of Internet of Things. IoT is the next generation technology for all industrial, commercial, and residential applications due to its superior advantages in the connectivity. At present, the IoT has already been commercialized to a degree in the factory, thereby bringing an industrial revolution with the concept of Industry 4.0.
According to the report, one driver in market is rising need for grid efficiency and reliability. The demand for electricity is ramping up due to the rising population and urbanization across the world. This has created a shortage of electricity due to limited resources. Another difficulty that further complicates the situation is the variation in load demand to a large extent through the years. Thus, electricity supplying vendors must constantly match supply with demand every second to maintain reliability. The rising adoption of variable generation resources such as the wind and solar, intensifies higher levels of non-dispatchable resources to the system.
Further, the report states that one challenge in market is lack of interoperability within devices. The cost of distribution automation has increased greatly due to rising interoperability issues among existing systems. The present distribution automation systems lack the integrational capabilities. Therefore, the limited infrastructure in power distribution needs to be revamped with fully functional digital workflows to maintain effective data sharing between systems. Since the distribution automation is still in its embryonic stage, it will be challenging for electricity service providers to integrate all systems in a seamless manner.