CHICAGO, May 19, 2022 /PRNewswire/ -- According to a research report "Advanced Distribution Management System Market by Offering ((Solutions and Services), Solutions (Outage Management System, Energy Management System), Services (Professional and Managed Services)), End User and Region - Global Forecast to 2027", published by MarketsandMarkets, the global Advanced Distribution Management System Market size is expected to grow from USD 2.2 billion in 2022 to USD 5.6 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 20.2% during the forecast period.
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303 - Tables
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287 - Pages
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By offering, the services segment to have the highest growth rate during the forecast period
The services segment is expected to have a higher growth rate during the forecast period. The Advanced Distribution Management System Market, by service, is segmented into professional services and managed services. The services segment is expected to witness fast growth in the future as most industry players are focusing on providing specialized services with respect to automated distribution and technology. Also, the need to increase efficiency and profitability is expected to boost their adoption in this market.
By functionality, the voltage/var segment has the highest growth rate during the forecast period
The voltage/var segment is expected to have the highest growth rate during the forecast period. The demand for these solutions can be attributed to the increasing demand for electricity, reduction in distribution losses, increasing energy generation, and distribution complexity. Increasing investments and government initiatives in distributed power generation for renewable sources such as solar and wind and installation of volt/var management projects for voltage optimization are expected to drive the market.
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North America region to account for the highest market share in Advanced Distribution Management System Market
North America is one of the prominent regions in the Advanced Distribution Management System Market. North America is expected to hold the largest share in the ADMS market due to the early adoption of cloud-based technologies and IoT by the US. The region consists of developed economies, such as the US and Canada, which have undergone digitalization to a large extent. The presence of major market players in the region such as General Electric, Oracle Corporation, Itron, and ETAP has been the key factor that has driven the market expansion. North America has long been at the forefront of smart grid technology adoption, and most utilities in the region are now either fully deployed or in the implementation or planning stages of full-scale rollouts. The continued growth in North America in the next few years would largely be driven by the large investor-owned utilities in the US market.
Key and innovative vendors in the Advanced Distribution Management System Market are Schneider Electric (France), General Electric (US), Siemens AG (Germany), Hitachi (Japan), Oracle (US), Itron (US), Landis+GYR (Switzerland), ETAP (US), OSI (US), Minsait ACS (US), Elipse Software (Brazil), Wipro (India), Survalent Technology (Canada), Tantalus (US), Hexagon Safety and Infrastructure (US), Eaton (Ireland), Mitsubishi Electric (Japan), IBM (US), AutoGrid (US), EnergyHub (US), Opus One Solutions (Canada), PXiSE Energy Solutions (US), GridBright (US), Innowatts (US), SparkMeter (US), depsys (Switzerland), mPrest (Israel)
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