The electric power distribution automation systems market is anticipated to reach around $23.8 billion by 2026 according to a new research published by Polaris Market Research.
In 2017, the industrial segment dominated the global market, in terms of revenue. North America is expected to be the leading contributor to the global market revenue during the forecast period.
The growing adoption of smart cities, along with high demand of smart grids has boosted the adoption of electric power distribution automation systems.
The rising demand for electricity, and growing demand for efficient and low-cost solutions for efficient power distribution further support the growth of electric power distribution automation systems market.
Increasing investments by vendors in technological advancements, growing need to update existing networks, and increasing ageing infrastructure would accelerate the adoption of electric power distribution automation systems during the forecast period.
Growing demand from emerging economies, increasing adoption smart grid applications, and technological advancements are expected to provide numerous growth opportunities in the coming years.
North America generated the highest revenue in the market in 2017, and is expected to lead the global market throughout the forecast period. The presence of established telecom and cloud infrastructure in this region, and growing trend of smart cities drive the market growth in the region.
The growing demand from energy sector, and technological advancements further support market growth in the region. The use of smart technologies in energy and utilities, investments in transmission and distribution infrastructure, and increasing ageing infrastructure is expected to support market growth in this region during the forecast period.
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