Albany, NY -- (SBWIRE) -- 10/05/2017 -- A market study, based on the global distribution automation market, has been published by Transparency Market Research (TMR), estimating the market to report a CAGR of 8.50% during the period from 2013 to 2019. Analysts at TMR anticipate the worldwide market for distribution automation to reach US$17,677.2 mn by the end of the forecast period.The research study, titled "Distribution Automation Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019", also estimates the historical value of the global distribution automation market in 2012 to be US$9,986.3 mn.
The technical advancement in distribution automation solutions, improving their reliability and efficacy, is significantly fuelling the global distribution automation market. However, the report states that the growth of the global market may get hampered by the lack of adequate standards in communication technology and infrastructure in the coming years.
The market for monitoring and control devices held 36.1% of the global distribution automation products market in 2012. However, the fastest growth is projected to be reported by the power quality and efficiency devices market over the forecast period, cites the report.The industrial sector emerged as the largest end user of distribution automation solutions in 2012 with a share of 51.3%, notes the study. This market segment is predicted to maintain its leadership throughout the forecast period.
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According this market study, the distribution automation market in Europe contributed for the highest revenue in 2012, accounting for a 32.2% of the global market. The rising number of smart grid projects and increasing investment in various components of distribution automation have stimulated this regional market. Additionally, the low cost associated with operation and maintenance of distribution automation is likely to drive this regional market during the forecast period, maintaining its dominance.
The research report further discusses the condition of the distribution market in North America and Asia Pacific. The increased focus on advanced metering infrastructure (AMI) integrated with distribution automation solutions in North America is likely to boost this market during the forecast period.
The distribution automation market in Asia Pacific is also expected to exhibit remarkable growth between 2013 and 2019, states the report.The global distribution automation market is highly concentrated with the presence of a few number of market players. ABB Ltd. and Siemens AG dominate this worldwide market with a share of 24% and 22%, respectively.
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Other prominent players in this market are American Electric Power, Dominion Virginia Power, Cooper Power Systems, Electricite de France, S&C Electric Co., Pacific Gas and Electric Co., General Electric Corp., Schneider Electric SA, Beckwith Electrics, Alstom Group, Edison Electric Institute, Schweitzer Engineering Laboratories Inc., Duke Energy Corp., PECO, Nissin Electric Co. Ltd., and Tennessee Valley Authority, reports the market study.