Top 3 Emerging Trends in the Power Distribution Automation Components Market in the Next Five Years by Technavio

August 10, 2017

#Automation--Technavio’s latest report on the global power distribution automation components market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.

The growth in the global power distribution automation components market is predicted to be high in developed countries whereas developing countries will remain at the initial growth stage of the cycle during the forecast period. The US and Europe will be the major markets for the deployment of power distribution automation components during the forecast period. Countries such as China, India, and the Middle East countries, which are facing the challenge of increasing demand for electricity due to rapid growth in the economy, will initiate the installation of automated components during the forecast period.

This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing

Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.

The top three emerging trends driving the global power distribution automation components market according to Technavio industrial automation research analysts are:
- Emergence of IoT
- Increasing demand for renewable energy
- Deployment of smart meters
Looking for more information on this market? Request a free sample report

Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.

Emergence of IoT

“IoT is the next generation technology for all the end-user applications owing to its superior advantages in connectivity. In 2016, IoT already commercialized to a degree in the factory, thereby bringing an industrial revolution with the concept of Industry 4.0,” says Bharath Kanniappan, a lead analyst at Technavio for research on automation.

The accompanying global digitalization is growing rapidly across the world and involves components that can identify and transmit conditional information. In addition to this, IoT is further simplifying the connectivity techniques with the use of IPv6-based Protocol addressing systems. In addition, the interoperability and data readability issues find a better solution with the advent of IoT.

Increasing demand for renewable energy

“The power generation from renewable energy sources is increasing in various countries such as India, the US, and China due to rising concern about depleting natural resources such as coal and natural gas. In addition, the increasing government initiative on the wave of green energy production across the world further attracts new projects in the renewable energy sectors,” adds Bharath.

Renewable energy technologies like solar and wind have huge abilities to trim down greenhouse gas emissions and other adverse environmental impacts from electricity generation. Integration of these technologies into the electric power grid stands as a huge challenge.

Deployment of smart meters

Smart meters are used to provide real-time monitoring of the electricity usage to the customer as well as electricity providers. Deployment of smart meters is an inseparable part of power distribution automation components to extend the benefits for the customers. Thus, it is a big trend present in power distribution automation components.

Benefits offered by smart meters are not only restricted to customers and utility providers, rather, the government also benefitted as the real-time information of electricity usage makes the customers conscious about their energy utilization and thus reduces the power wastage and optimum utilization of power generating capacity.

Browse Related Reports:
About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at [email protected].

Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com
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LONDON–(BUSINESS WIRE)–#Automation–Technavio’s latest report on the global
power distribution automation components market provides an
analysis of the most important trends expected to impact the market
outlook from 2017-2021. Technavio
defines an emerging trend as a factor that has the potential to
significantly impact the market and contribute to its growth or decline.

The growth in the global
power distribution automation components market is predicted to be
high in developed countries whereas developing countries will remain at
the initial growth stage of the cycle during the forecast period. The US
and Europe will be the major markets for the deployment of power
distribution automation components during the forecast period. Countries
such as China, India, and the Middle East countries, which are facing
the challenge of increasing demand for electricity due to rapid growth
in the economy, will initiate the installation of automated components
during the forecast period.

This report is available at a USD 1,000 discount for a limited time
only: View
market snapshot before purchasing

Buy 1 Technavio report and get the second for 50% off. Buy 2
Technavio reports and get the third for free.

The top three emerging trends driving the global power distribution
automation components market according to Technavio industrial
automation research analysts are:

Emergence of IoT
Increasing demand for renewable energy
Deployment of smart meters

Looking for more information on this market? Request
a free sample report

Technavio’s sample reports are free of charge and contain multiple
sections of the report including the market size and forecast, drivers,
challenges, trends, and more.

Emergence of IoT

“IoT is the next generation technology for all the end-user
applications owing to its superior advantages in connectivity. In 2016,
IoT already commercialized to a degree in the factory, thereby bringing
an industrial revolution with the concept of Industry 4.0,” says
Bharath Kanniappan, a lead analyst at Technavio for research on automation.

The accompanying global digitalization is growing rapidly across the
world and involves components that can identify and transmit conditional
information. In addition to this, IoT is further simplifying the
connectivity techniques with the use of IPv6-based Protocol addressing
systems. In addition, the interoperability and data readability issues
find a better solution with the advent of IoT.

Increasing demand for renewable energy

“The power generation from renewable energy sources is increasing in
various countries such as India, the US, and China due to rising concern
about depleting natural resources such as coal and natural gas. In
addition, the increasing government initiative on the wave of green
energy production across the world further attracts new projects in the
renewable energy sectors,” adds Bharath.

Renewable energy technologies like solar and wind have huge abilities to
trim down greenhouse gas emissions and other adverse environmental
impacts from electricity generation. Integration of these technologies
into the electric power grid stands as a huge challenge.

Deployment of smart meters

Smart meters are used to provide real-time monitoring of the electricity
usage to the customer as well as electricity providers. Deployment of
smart meters is an inseparable part of power distribution automation
components to extend the benefits for the customers. Thus, it is a big
trend present in power distribution automation components.

Benefits offered by smart meters are not only restricted to customers
and utility providers, rather, the government also benefitted as the
real-time information of electricity usage makes the customers conscious
about their energy utilization and thus reduces the power wastage and
optimum utilization of power generating capacity.

Browse Related Reports:

About Technavio

Technavio
is a leading global technology research and advisory company. Their
research and analysis focuses on emerging market trends and provides
actionable insights to help businesses identify market opportunities and
develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists
of more than 10,000 reports and counting, covering 800 technologies,
spanning across 50 countries. Their client base consists of enterprises
of all sizes, including more than 100 Fortune 500 companies. This
growing client base relies on Technavio’s comprehensive coverage,
extensive research, and actionable market insights to identify
opportunities in existing and potential markets and assess their
competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team
at [email protected].

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US:
+1 630 333 9501
UK: +44 208 123 1770
www.technavio.com