Market drivers include reliability & resiliency, increasing grid infrastructure spending and cost-effectiveness
BOULDER, Colo., Feb. 7, 2023 /PRNewswire/ -- A new report from Guidehouse Insights explores the development of the distribution automation (DA) and substation automation (SA) markets by region, from 2022 through 2031.
Globally, distribution-level feeders and substations have varying degrees of automation as currently constructed. Many legacy feeders and substations have little to no remote monitoring or control capabilities, while more advanced modern systems contain high levels of visibility, digital communication, SCADA, and controllable protection. According to a new report from Guidehouse Insights, the global DA and SA markets are expected to grow significantly over the next decade, at a compound annual growth rate (CAGR) of 10.4% increasing from $7.6 billion in 2022 to $18.5 billion by 2031.
"Highly automated distribution feeders and substations can provide utilities and grid operators a greater level of resiliency, improved reliability, and increased visibility into the distribution system," says Michael McConnell, managing consultant with Guidehouse Insights. "Transmission and distribution systems throughout the world are poised for an influx of capital investment, in some cases to address capacity shortfalls, in others to replace aging infrastructure, with grid modernization being a constant theme applied across the board."
As utilities and grid operators ready their transmission and distribution systems for a future with extensive electrification, renewable generation, and distributed energy resources, visibility and control at every level of the grid become essential. The continual advancement of automation technologies and use cases will help the industry transition from conventional to more advanced automation systems, according to the report.
The report, Market Data: Distribution and Substation Automation Markets, analyses the specific drivers and barriers for the DA and SA markets, applying a regional focus based on historical and expected growth trends, recent policies, and unique distribution system characteristics. Global market analyses for grid infrastructure and revenue, broken out by segment and region, extend through 2031. The report also examines the key technologies related to distribution and SA and identifies key industry players. An executive summary of the report is available for free download on the Guidehouse Insights website.
About Guidehouse Insights
Guidehouse Insights, the dedicated market intelligence arm of Guidehouse, provides research, data, and benchmarking services for today's rapidly changing and highly regulated industries. Our insights are built on in-depth analysis of global clean technology markets. The team's research methodology combines supply-side industry analysis, end-user primary research, and demand assessment, paired with a deep examination of technology trends, to provide a comprehensive view of emerging resilient infrastructure systems. Additional information about Guidehouse Insights can be found at www.guidehouseinsights.com.
About Guidehouse
Guidehouse is a leading global provider of consulting services to the public sector and commercial markets, with broad capabilities in management, technology, and risk consulting. By combining our public and private sector expertise, we help clients address their most complex challenges and navigate significant regulatory pressures focusing on transformational change, business resiliency, and technology-driven innovation. Across a range of advisory, consulting, outsourcing, and digital services, we create scalable, innovative solutions that help our clients outwit complexity and position them for future growth and success. The company has over 16,500 professionals in over 55 locations globally. Guidehouse is a Veritas Capital portfolio company, led by seasoned professionals with proven and diverse expertise in traditional and emerging technologies, markets, and agenda-setting issues driving national and global economies. For more information, please visit www.guidehouse.com.
* The information contained in this press release concerning the report, Market Data: Distribution and Substation Automation Markets, is a summary and reflects the current expectations of Guidehouse Insights based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report's conclusions and the methodologies used to create the report. Neither Guidehouse Insights nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.
For more information, contact:
Cecile Fradkin for Guidehouse
+1.646.941.9139
[email protected]
SOURCE Guidehouse Insights
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