The North America Distribution Automation Market would witness market growth of 11.1% CAGR during the forecast period (2023-2030).
The demand is anticipated to increase during the forecast period due to recent scientific developments in IoT and communication devices. Companies in the market will benefit from the chance to learn from the expanding usage of advanced computerized power supply innovation. A significant trend that offers tremendous commercial prospects is technological advancement. Moreover, to increase their product portfolio and acquire a competitive edge in the market, major firms have refocused their R&D efforts.
Mexico has abundant potential resources and can draw substantial investments to increase its energy supply. Similarly, Canada's national smart grid initiative focuses on the country's natural resources. The national government has invested more than $100 million in utility-led initiatives to lower greenhouse gas emissions, make better use of the available electrical resources, and promote innovation.
The US electric grid is also a technological marvel, connecting nearly 9,200 power plants with a combined output of over 1 million megawatts over more than 600,000 miles. For customers to access dependable, secure, and environmentally friendly energy sources, the US Office of Electricity (OE) is collaborating with public and commercial partners to strengthen, develop, and upgrade the country's energy infrastructure. Therefore, the market in the region will expand rapidly in the coming years owing to rising grid modernization and electrification objectives.
The US market dominated the North America Distribution Automation Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $7,389.1 million by 2030. The Canada market is showcasing a CAGR of 13.6% during (2023 - 2030). Additionally, The Mexico market would witness a CAGR of 12.7% during (2023 - 2030).
Based on Communication Technology, the market is segmented into Wired (Fiber Optic, Ethernet, and Powerline Carrier), and Wireless. Based on Utility, the market is segmented into Public, and Private. Based on Component, the market is segmented into Field Devices (Automated Feeder Switches/Reclosers, Remote Fault Indicators, Smart Relays, Automated Capacitors, Automated Voltage Regulators, Transformer Monitors, Remote Terminal Unit, Feeder Monitors, and Others), Software, and Services. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Worldwide Distribution Automation Market is Projected to reach USD 35.9 Billion by 2030, at a CAGR of 11.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ABB Group, Schneider Electric SE, Siemens AG, Eaton Corporation PLC, General Electric Company, Itron, Inc., Toshiba Corporation, Xylem, Inc., G&W Electric, and S&C Electric Company
By Communication Technology
By Utility
By Component
By Country
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