The Insight PartnersAdvanced Distribution Management System Market to Surge with 19.9% of CAGR by 2027 fuelled by Increasing Energy Demand and Distributed Renewable Energy System by 2027According to The Insight Partners’ latest market study on “Advanced Distribution Management System Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Type, Grid Type, and Vertical,” the market was valued at US$ 952.0 million in 2019 and is projected to reach US$ 3,035.0 million by 2027; it is expected to grow at a CAGR of 19.9% from 2020 to 2027.
Impact of COVID-19 Pandemic on Advanced Distribution Management System Market
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.
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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.
ADMS Integration with Smart Devices
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.
Strategic Insights:
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:
- In June 2019, General Electric Company announced to help two New Zealand utilities companies, Top Energy Limited and Northpower Limited, to upgrade their traditional supervisory control and data acquisition systems with General Electric’s advanced distribution management solutions (ADMS).
- In August 2019, Advanced Control Systems, Inc. announced that Fort Collins Utilities had opted for their advanced distribution management system as part of a multi-year digital transformation project. The objective is to increase the system resiliency for its customers and address the changing landscape of the utility industry.
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