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18 Apr, 2022, 12:30 BST
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ALBANY, New York, April 18, 2022 /PRNewswire/ —
Transparency Market Research: The global smart power distribution systems market is prognosticated to register growth at a CAGR of 13.9% during the forecast period, from 2021 to 2031, as per a study by Transparency Market Research (TMR). Moreover, the market is estimated to surpass a valuation of US$ 96.1 Bn by 2031.
Advanced automated software are gaining traction globally, owing to their ability to allow utilities decrease production cost by avoiding human errors, notes a study on the smart power distribution systems market. Furthermore, there has been increase in the adoption of such software, as they help in many activities, including management of power outages, rising power consumption, power theft, and fault detections. As a result, the software segment is a leading position in the global smart power distribution systems market.
Several nations around the world are increasing their focus on developing and refining grid infrastructure. Hence, they are concentrating on advanced metering, distribution on automation, universal communications networks, substation automation, DER integration, and micro grids. Such efforts are boosting the growth prospects in the global smart power distribution systems market.
The smart power distribution systems market is prognosticated to gain sizable business opportunities in North America and Asia Pacific during the forecast period, owing to rise in IT expenditure and grid infrastructure development in these regions.
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Smart Power Distribution Systems Market: Key Findings
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Smart Power Distribution Systems Market: Growth Boosters
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Smart Power Distribution Systems Market: Key Players
Some of the key players profiled in the report are:
· Aclara Technologies LLC.
· ABB Ltd.
· Fuji Electric Co., Ltd
· Cisco Systems Inc., Eaton Corporation
· Honeywell International Inc.
· General Electric Company
· Schneider Electric SE
· Siemens AG
· Itron Inc.
· Landis+Gyr AG
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Smart Power Distribution Systems Market Segmentation
· North America
· Asia Pacific
· Middle East & Africa
· South America
Browse Latest Electronics and Semiconductors Market Research Reports by TMR:
About Transparency Market Research
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyse information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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SOURCE Transparency Market Research
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