Advanced Distribution Management System Market Trends, Share, Size, Growth, Opportunity And Forecast 2022-2031
Advanced Distribution Management System Market
WILMINGTON, DE, UNITED STATES, July 8, 2024 /EINPresswire.com/ -- The advanced distribution management system market was valued at $2 billion in 2021, and is estimated to reach $11.2 billion by 2031, growing at a CAGR of 19.3% from 2022 to 2031.
The telecom and IT & ITeS segments collectively accounted for around 49.3% market share in 2021, with the former constituting around 30.1% share. The manufacturing and defense & government segments are expected to witness considerable CAGRs of 22.5% and 20.6%, respectively, during the forecast period.
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An advanced distribution management system (ADMS) is the software platform that supports the entire scope of distribution control and implementation. An ADMS's cutting-edge components offer next-generation control capabilities that surpass those of traditional distribution management systems. Some of the features include closed-loop interactions with ADMS and tighter utility tool integration for asset data and meter data management. An ADMS can automate outage restoration and boost the effectiveness of the distribution grid. The ADMS is significant because it supports control room and field operating staff and effectively monitors and controls the electrical distribution system, enhancing safety, effectiveness, asset protection, and customer satisfaction.
The increased adoption of tech-driven innovation in relation to energy & utility sector is expected to boost growth in the market for advanced distribution management system. The optimize CAPEX, administration, Voit-VAR optimization, investment, and utilization of e-mobility have all been influenced by advanced distribution management system.
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Region wise, North America held a significant global advanced distribution management system market share, due to the country's expanding hotel capacity, the U.S. currently dominates the regional market for North America. The main drivers of the growth of the ADMS Market in North America are government initiatives to promote innovation, urbanization and advancements in green sustainable energy management. Moreover, growing adoption of cloud integrated power infrastructure, smart grid management systems and automating outage restoration processes management are the primary factors that drive growth of the ADMS Market in Asia-Pacific and Europe.
Key players profiled in the report include Eaton Corporation Plc, General Electric, Hitachi Ltd., Itron Inc., Mitsubishi Electric Corporation, Oracle Corporation, Schneider Electric SE, Siemens AG, Innowatts Inc. and Wipro Limited. Market players have adopted various strategies, such as product launch, collaboration & partnership, joint venture, and acquisition to expand their foothold in the advanced distribution management system industry.
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