The major drivers for the global advanced distribution management system market are the skyrocketing demand to enhance the power infrastructure in advanced economies, swift deployment of the smart grid technology, and surging requirement for an integrated, efficient, reliable, secure, and one platform for energy transmission management. In 2021, the market was valued at $1,998.0 million, which is predicted to touch $10,097.9 million by 2030, witnessing an approximately 20% CAGR between 2021 and 2030. Since the lifting of the COVID-10 lockdowns, the pending electrical infrastructure projects have gathered steam.
The swift adoption of advanced technologies will assist the advanced distribution management system market players to adapt to the current market dynamics, thereby generating high revenue in the coming years. Energy sector reequipment is boosting the infrastructure with technological innovations. There is a significant increase in energy consumption because of the growing integration of the latest electricity-powered objects, including high-tech consumer and industrial equipment and electric vehicles. Nevertheless, the appropriate degree of energy distribution is not met by the existing engineering management tools, which creates a strong need for infrastructure advancement.
In 2021, the biggest advanced distribution management system market share, of about 35%, was held by distributed energy resource management systems. It is complemented by the extensive government supporting the form of several stringent policies on energy management in the residential sector. For example, the BTO functions with researchers, educators, product makers, utilities, state and local governments, energy experts, and home builders to enhance the energy efficiency of existing and new houses. Moreover, there is an amalgamation of energy efficiency solutions into the construction sector for retrofits and new buildings in the U.S. and many other countries.
The robust adoption of the smart grid technology will spur advanced distribution management system market growth. By allowing renewables to be employed on a larger scale, smart grids could help the electric transportation sector enter the era of digitalization and sustainability. An intelligent power grid could ultimately lower energy usage and the utility sector’s carbon emissions by at least 10% annually by 2030. The surging investment in smart grid technologies, including EV chargers, smart meters, and other interdependent advancements, will propel growth in the market.
A CAGR of at least 20%, the highest in the end user segment, will be witnessed by the energy and utilities sector till 2030. Market players are evolving to cater to the surging demands of the energy and utilities sector for a smarter and more-robust transmission & distribution system. As utility companies throughout the world are gradually adapting to the market trends, the adoption of smart grids will significantly impact how distribution networks operate. Government agencies and Customers expect increasingly more, such as increased dependability and improved customer service.
Geographically, North America dominated the advanced distribution management system market in 2021, accounting for about 32% of the global market revenue. Many utilities in the U.S. are pursuing projects to replace their present distribution systems with new and sophisticated ones. In the same vein, there is a surge in the use of sophisticated technologies in Canada, which will result in rapid infrastructure expansion and, eventually, an increase in ADMS acceptance. Furthermore, the existence of several corporations that provide ADMS solutions is pushing the market advance.
Hence, the rising requirement for an integrated, efficient, reliable, secure, and platform for energy transmission management will drive the market.
