PUBLISHER: The Business Research Company | PRODUCT CODE: 1392409
PUBLISHER: The Business Research Company | PRODUCT CODE: 1392409
“Advanced Distribution Management System Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on advanced distribution management system market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for advanced distribution management system? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The advanced distribution management system market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.
The Advanced Distribution Management System (ADMS) serves as the software framework that facilitates a comprehensive range of distribution management and optimization functions. This includes automated outage restoration and other features that enhance the performance of the distribution grid.
The primary types of offerings within advanced distribution management systems are solutions and services. Solutions involve customized products tailored to address specific or common issues for individual clients. Various deployment types, such as cloud and on-premises, are available, and these encompass diverse system types like Distribution Management Systems (DMS), Automated Meter Reading and Advanced Metering Infrastructure (AMR/AMI), Distributed Energy Resources Management Systems (DERMS), Energy Management Systems (EMS), Customer Information Systems (CIS), and Meter Data Management Systems (MDMS). These systems cater to organizations of different sizes, including large enterprises and SMEs. Additionally, various end-users utilize ADMS, including those in the energy and utilities sector, defense and government, manufacturing, transportation and logistics, telecom, IT and ITES, and other industries.
The advanced distribution management system market research report is one of a series of new reports from The Business Research Company that provides advanced distribution management system market statistics, including advanced distribution management system industry global market size, regional shares, competitors with an advanced distribution management system market share, detailed advanced distribution management system market segments, market trends and opportunities, and any further data you may need to thrive in the advanced distribution management system industry. This Advanced Distribution Management System Market Research Report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The advanced distribution management system market size has grown rapidly in recent years. It will grow from $2. 15 billion in 2023 to $2. 58 billion in 2024 at a compound annual growth rate (CAGR) of 20. 0% The growth observed in the historic period can be attributed to several factors, including the need for improved grid reliability and efficiency, the growth in Distributed Energy Resources (DERs), the adoption of smart grid technologies, an increase in the integration of renewable energy, and an emphasis on grid modernization.
The advanced distribution management system market size is expected to see rapid growth in the next few years. It will grow to $5. 17 billion in 2028 at a compound annual growth rate (CAGR) of 19. 0%. The anticipated growth in the forecast period can be attributed to various factors, including the expansion of electric vehicle (EV) charging infrastructure, increased adoption of microgrids, a rise in demand response programs, the integration of artificial intelligence and machine learning in Advanced Distribution Management Systems (ADMS), and a heightened emphasis on cybersecurity for advanced distribution management. Key trends expected in the forecast period encompass the integration of distributed energy storage systems, the use of predictive analytics for grid optimization, the implementation of adaptive and self-healing networks, a focus on edge computing for real-time decision-making, and collaborative efforts between utilities and technology providers for ADMS innovation.
The rapid investment in power infrastructure is anticipated to drive the growth of the advanced distribution management system (ADMS) market. Investments in electricity and power infrastructure involve the allocation of resources for the generation, transmission, transformation, and distribution of electrical power. ADMS plays a crucial role in various activities, including outage management, fault location, isolation, and restoration, as well as optimizing voltage and VAR (Volt-Ampere Reactive) levels, demand response, and integrating distributed energy resources like wind, solar, and battery storage. The surge in investment in the energy sector, exemplified by a 1. 4% increase to ($17. 84) £16. 7 billion in 2022 compared to 2021, contributes to the growth of the advanced distribution management system market.
The increasing adoption of smart grid infrastructure is also expected to propel the growth of the ADMS market. Smart grid infrastructure employs digital technology to monitor and regulate electricity transmission efficiently. This technology enables real-time monitoring and control of energy flows, leading to more effective load management, optimal utilization of existing infrastructure, and reduced need for additional network development. For instance, the investment spending on electricity grids in the United States increased by 9. 09% from $77 billion in 2020 to $84 billion in 2021, according to the International Energy Agency. The growing adoption of smart grid infrastructure contributes to the demand for advanced distribution management systems.
Major players in the advanced distribution management system market are strategically focusing on partnerships and collaborations to achieve common goals. By combining resources, expertise, and capabilities, these collaborations aim to enhance weather forecasting for electric utilities. For example, in June 2022, GE Digital, a US-based subsidiary of General Electric, partnered with Climavision, a US-based weather technology company. This partnership seeks to assist utilities in accurately predicting weather conditions and improving preparedness for severe storms. Integrating Climavision's global weather forecasting technology into GE Digital's ADMS, Storm Assist, and Storm Readiness software enhances utilities' capabilities to forecast and plan for extreme weather events, minimizing power outages and enhancing the reliability and safety of the electric distribution grid. This collaborative approach showcases the importance of partnerships in driving innovation and addressing challenges in the power infrastructure sector.
Major companies in the Advanced Distribution Management System (ADMS) market are incorporating innovative tools, such as AI-powered conversational tools, to gain a competitive edge. An AI-powered conversational tool is a software application or system that utilizes artificial intelligence and natural language processing technologies to engage in human-like conversations with users. These tools provide information, assistance, and responses to queries and tasks, enhancing user interaction. For example, in August 2023, Schneider Electric SE, a France-based digital automation and energy management company, introduced EcoStruxure Resource Advisor Copilot. This is an AI-powered conversational tool designed to facilitate quick and efficient interactions with energy and sustainability data. The tool offers enhanced data analysis, visualization, decision support, and performance optimization. Through simple, conversational interactions with Copilot, users can efficiently request and receive the data they need, reducing the time spent searching for information. This innovation from Schneider Electric demonstrates the incorporation of advanced technologies to streamline interactions in the field of energy management.
In January 2023, TE Connectivity, a Switzerland-based consumer electronics company, acquired Kries Energietechnik GmbH & Co. KG for an undisclosed amount. This strategic acquisition strengthens TE Connectivity's energy business unit, positioning it as a leading supplier of grid stability solutions for utilities, power network owners, and developers of renewable energy infrastructure worldwide. Kries Energietechnik GmbH & Co. KG, based in Germany, specializes in providing solutions for highly accessible distribution networks, introducing more intelligence to the grid. This acquisition underscores the industry's focus on integrating advanced technologies to enhance grid stability and intelligence.
Major companies operating in the in the advanced distribution management system market report are Schneider Electric SE, General Electric Company, Siemens AG, Survalent Technology Corporation, Oracle Corporation. , Capgemini SE, Operation Technology Inc. , Hexagon AB, Hitachi Ltd. , Tata Power Delhi Distribution Limited. , Minsait ACS Inc. , Wipro Limited, Anterix Inc. , Det Norske Veritas GL, Advanced Control Systems Inc. , Advanced Microgrid Solutions, Asea Brown Boveri Ltd. , Accenture plc, Advanced Energy Industries Inc. , Advanced Power Technologies LLC, Advanced Utility Systems, Alstom SA, Ambient Corporation, American Electric Power Company Inc. , Aquanta Inc. , AutoGrid Systems Inc. , Avangrid Inc. , Black & Veatch Holding Company, CGI Group Inc. , Cisco Systems Inc. , Comverge Inc.
North America was the largest region in the advanced distribution management system market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the advanced distribution management system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the advanced distribution management system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The advanced distribution management system (ADMS) market includes revenues earned by providing outage management system, energy management system, geographic information system, customer information system, distributed energy resources management system, and meter data management system. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.