Publication Month: Nov 2020 | Report Code: TIPTE100000762 | No. of Pages: 230 | Category: Technology, Media and Telecommunications | Status: Published
Smart Grid has overcome the challenges of traditional grid, such as greenhouse effect, polluted gas emission. It is a modern power generation that supports renewable energy sources such as, sun, wind, and water. Smart grid benefited from improved security, helps in reducing operational costs, help in lowering electricity rates, efficient transmission of electricity and also increased integration of large-scale renewable energy systems. Similarly, the smart grid is also capable of learning behavior of power generation, resources to optimize energy generation and to automatically maintaining voltage, power, and frequency factor on multiple points in the grid. Smart grid technologies are flourishing US market, with more than 140 companies, out of which 77.4% of smart grid technology companies are US based. Advanced metering infrastructure (AMI) and a meter data management system (MDMS) are basic components of smart grid which is responsible for data collection, storage, and management. Therefore, with the increasing need for smart grid technology and emerging technologies such as AMI, Outage Management System (OMS) and MDMS led the market growth in near future.
According to latest situation report from World Health Organization (WHO), the US, Spain, Italy, France, Germany, UK, Russia, Turkey, Brazil, Iran, and China are some of the worst affected countries due to COVID-19 outbreak. The outbreak first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The COVID-19 crisis is affecting the industries worldwide and the global economy is anticipated to take a worst hit in the year 2020 and likely in 2021 also. AI and big data technologies were used to strengthen the contact tracing and management of priority populations. Personal data processing is difference in every geographical location. For instance, China, US, and the European Union have different legislation for governing processing personal data of their respective citizens.
During watching the news for information Coronavirus, the individuals comes across various sensitive personal information about many patients and their family members. Even, the name of patients are not disclosed, this other information includes movement of patients, details about their previous & current health status which might result into identification of individual.
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Modernization in the grid for distribution systems has the ability to monitor, control and mangling unplanned event with reliability. The integration of ADMS with smart devices has created enormous opportunity in ADMS market, as ADMS technologies are increasingly deployed to control and manage the complexities involved. The main complexities are such as increasing penetration levels of renewable generation, grid forming smart assets such as smart inverters. Therefore, the demand for ADMS integration with smart devices has been increasing.
In addition to this, grid modernization efforts for ADMS has become the primary decision support system for all utility operators to handle complexities that are increasing day by day. ADMS is enabling IT convergence with geospatial asset management, weather services, enterprise resource planning, and real-time operation and planning among others.
Moreover, mobile devices such as tablets, smartphones, iPad and more have been found to be most useful and gradually integrating into ADMS in order to provide portable and accessible medium to congregate with ADMS technology.
Based on type, the advanced distribution management system market is bifurcated into solutions and services. SCADA (Supervisory control and data acquisition) is system of hardware and software which enables the ADMS to monitor and analyse the grid in real time. The key components of SCADA are host equipment, communication infrastructure and field devices. The system uses various visualization tools such as geospatial view, one-line diagram, smart graphical user interface, and digital dashboards to display various information. With the growing inclination of industrial internet of the things (IIoT) in power generation sector the SCADA market is expected to witness significant growth during the forecast period.
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The high voltage grid ranges between 36 kV and 150 kV and it differs from region to region. The transmission power is high or extra high is to increase the efficiency. Owing to improve the overall operational efficiency of power transmission across the region the integration of ADMS at high voltage grid is packing up pace gradually across the world. Furthermore, the growing concerns over carbon emissions, the governments across the globe are investing heavily to develop renewable projects. Thus, with the rising adoption of advanced technologies across the world to better management power transmission and increasing contribution renewables to the energy mix due to development of large scale solar, wind, and bio farms the high voltage grid segment is expected witness steady growth over the forecast period.
As the price of electricity is growing year on year companies across the world are investing heavily to develop in-house renewable source of energy. Solar PVs is the most preferred choice of renewable followed by wind turbines, biofuel, and others in industrial sector. Further, as the renewables components get affordable coupled with government incentives in form tax rebates and subsides is projected to increase the adoption of advanced distribution management system in industrial segment. Meanwhile, the Industrial sector globally is transforming rapidly, which is mainly attributed to the burgeoning trend of IIOT (Industrial IoT) that comprises of factory automation and other relative advancements is among other factor that is driving the growth market.
|Market Size Value in||US$ 952.0 Million in 2019|
|Market Size Value by||US$ 3035.0 Million by 2027|
|Growth rate||CAGR of 19.9% from 2020-2027|
|No. of Pages||230|
|No. of Tables||100|
|No. of Charts & Figures||157|
|Historical data available||Yes|
|Segments covered||Type , Grid Type , and Vertical|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America|
|Country scope||US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Free Sample Copy Available|
The players operating in the enterprise content management market focus on strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key players are listed below:
The List of Companies - Advanced Distribution Management System Market