Latest Study on “Smart Power Distribution Systems Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2027”.
The global Smart Power Distribution Systems market size is expected to be worth around US$ 63,580 Million by 2027, according to a new report by Nova One Advisor .
The global Smart Power Distribution Systems market size was valued at US$ 18,510 Million in 2020 and is anticipated to grow at a CAGR of 15.6% during forecast period 2021 to 2027.
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The increasing importance of system reliability and resilience is changing the way distribution systems are planned and operated. To achieve a distribution system self-healing against power outages, emerging technologies and devices, such as remote-controlled switches (RCSs) and smart meters, are being deployed. The higher level of automation is transforming traditional distribution systems into the smart distribution systems (SDSs) of the future. The availability of data and remote control capability in SDSs provides distribution operators with an opportunity to optimize system operation and control. In this paper, the development of SDSs and resulting benefits of enhanced system capabilities are discussed.
The smart power distribution systems market is driven by an increasing grid infrastructure development and efficient outrage response. Further, the improved grid reliability and increasing integration demand for renewable energy sources are also attracting consumers to the market. The increasing demand for capital savings in the operational expenditure (OpEx) and capital expenditure (CapEx) among utilities is boosting the adoption of products from the smart power distribution systems market.
Furthermore, there is a rapid increase in the customer demand for the network with high-speed trustworthy connectivity and mobility. It has further fueled the expansion of smart power distribution systems market. The automation technology profits and advancements in the networking industry are also boosting the smart power distribution systems market.
Development of Smart City Projects to Drive Market Demand
Initiatives taken by governments and property builders for developing smart cities can drive market demand significantly. Use of efficient lighting and sustaining growth in countries can augur favorably for the market. Rapid urbanization and transformation of cities to smart cities can spur demand for smart power distribution system solutions.
Huge need for infrastructure development and public safety can drive market demand. Moreover, adoption of internet of things (IoT), 5G, and analytics can create a bevy of opportunities in the coming years.
North America Anticipated to Continue to Share Major Portion in Market
The presence of many grid automation solution providers and increased technological advancements in North America are boosting the growth of regional smart power distribution systems market. Power grid services and solutions providers are collaborating with each other in the region. Further, regional utilities are investing a handsome amount in technological advancements for the improvement in smart power distribution services. These industry advancements contribute greatly to help North America secure a prominent position in the smart power distribution systems market. Further, Europe and Asia Pacific regions are also expected to show prominent expansion avenues in the smart power distribution systems market in the forthcoming years.
COVID-19 Impact on Smart Power Distribution Systems Sales
- Businesses today are operating in a dynamic environment. Earlier focus primarily concentrated on keeping pace with changing consumer preferences. COVID-19 outbreak was unprecedented and exposed vulnerabilities of various industries. Pandemic-induces obstacles also were registered in the Smart Power Distribution Systems market.
- Sales plummeted as COVID-19 gradually tightened its noose worldwide. Supply-chain disruptions caused massive losses, while demand took nose-dive as consumers remained indoors with affected countries implementing either partial or complete lockdown.
- Gradual recovery however is on the cards with the roll out of vaccinations. Nonetheless, consecutive waves of the virus compelled businesses to stay prepared for the worst. As government and healthcare organizations successfully implement steps to contain the spread of COVID-19, industries have begun operations, albeit at a slow and more cautious pace.
- Against this backdrop, Nova one advisor’s study predicts gradual recovery for the Smart Power Distribution Systems market 2021 onwards. This trend will however continue through the course of the report’s assessment period
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Recent report on the Smart Power Distribution Systems market, with the help of a comprehensive outlook, provides readers with an assessment of the global market landscape. This study on the Smart Power Distribution Systems market analyzes the scenario for the period of 2017 to 2027, wherein, 2021 is the base year and 2020 is historical data. This report enables readers to make important decisions with regard to their business, with the help of a wealth of Information enclosed in the study. The report also provides the compound annual growth rate (CAGR) of the global Smart Power Distribution Systems market for the forecast period of 2021–2027. This data can help readers interpret quantitative growth aspects of the global market during the forecast period. It presents a wealth of information on key market dynamics, including drivers, market trends, and challenges, as well as the structure of the global market across the globe.
The report analyzes the historical and present-day scenario of the global Smart Power Distribution Systems market to accurately gauge its growth potential. The study presents detailed information about important growth factors, restraints, and key trends that are creating the landscape for growth of the global market in order to identify opportunities for stakeholders.
The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments in the scope of the study. Moreover, the report sheds light on the changing competitive dynamics in the Smart Power Distribution Systems market. These indices serve as valuable tools for existing market players as well as for entities interested in participating in the market.
The report delves into the competition landscape of the global Smart Power Distribution Systems market. Key players operating in the market have been identified and each one of these has been profiled for distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players in the Smart Power Distribution Systems market that are profiled in this report.
Y-o-Y growth comparison, volume and revenue comparison, and market share comparison of various market segments are provided in the report. The Smart Power Distribution Systems market is analyzed at both regional and country levels.
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Major Players Covered in this Report
The updated market research report on Smart Power Distribution Systems market allows the buyers and manufacturers to stay updated with the current market trends, ongoing happenings, and a clear picture on the market scenario. List of key players included in the research report will help the market vendors to know their market position and plan more operational strategies to gain topmost position among other players. The report offers crucial company information on each market player, such as company profile, financial information, and recently adopted growth strategies. This will help other existing players and the new entrants to plan strategies and establish their presence in the market.
The global smart power distribution systems market include Cisco Systems Inc., General Electric Company, ABB Ltd., Siemens AG, Schneider Electric SE, Landis+Gyr AG, Itron Inc., Oracle Corporation, Eaton Corporation, and Aclara Technologies LLC.
The report is divided into major categories comprising product, application, regions and others. Every segment is further sub-segmented into several sub-segmented that are deeply analyzed by experts to offer valuable information to the buyers and market players. Every segment is studied thoroughly in order to offer a better picture to the buyers and stakeholders to benefit from. Information like highest prevailing product, highly demanded product by the application segment and end users are rightly mentioned in the Smart Power Distribution Systems report.
Global Smart Power Distribution Systems Market, by Component
- Advanced Metering Infrastructure
- Smart Grid Communication
- Smart Grid Distribution And Management
- Substation Automation
- Billing Information System
- AMI Meters
- Programmable Logic Controller (PLC)
- Protection and Control Relays
- Deployment and Integration
Global Smart Power Distribution Systems Market, by Application
A unique research methodology has been utilized to conduct a comprehensive research on the growth of the global Smart Power Distribution Systems market and arrive at conclusions on the future growth prospects of the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions. Secondary sources referred to by analysts during the production of the global market report include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of our study on the market as a primary source.
These primary and secondary sources provided exclusive information during interviews, which serves as a validation from mattress topper industry leaders. Access to an extensive internal repository and external proprietary databases allows this report to address specific details and questions about the global Smart Power Distribution Systems market with accuracy. The study also uses the top-down approach to assess the numbers for each segment and the bottom-up approach to counter-validate them. This has helped to estimates the future prospects of the global market more reliable and accurate.
Key Questions are
- What are the key factors influencing the Smart Power Distribution Systems market in each region?
- How much value will the global market generate by the end of the forecast period?
- What will be the CAGR of the global market between 2021 and 2027?
- What would be the Y-o-Y growth trend of the global market between 2021 and 2027?
- What is the future scope and current trends in technologies of the global market?
- What is the revenue of the global market based on segments?
- Which key strategies are used by top players of the global market?
- Which are the leading companies in the global market?
- What are the essential strategies by key stakeholders in the market to expand their geographic presence?
- What are the major advancements witnessed in the global market?
Why should you invest in this report?
If you are aiming to enter the global Smart Power Distribution Systems market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for Smart Power Distribution Systems are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2027 so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.
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