The Electric Power Distribution Automation Systems Market is anticipated to reach around USD 23.8 billion by 2026 according to a new research published by Polaris Market Research. In 2017, the industrial segment dominated the global market, in terms of revenue. North America is expected to be the leading contributor to the global market revenue during the forecast period.
The growing adoption of smart cities, along with high demand of smart grids has boosted the adoption of electric power distribution automation systems. The rising demand for electricity, and growing demand for efficient and low-cost solutions for efficient power distribution further support the growth of electric power distribution automation systems market. Increasing investments by vendors in technological advancements, growing need to update existing networks, and increasing ageing infrastructure would accelerate the adoption of electric power distribution automation systems during the forecast period. Growing demand from emerging economies, increasing adoption smart grid applications, and technological advancements are expected to provide numerous growth opportunities in the coming years.
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North America generated the highest revenue in the market in 2017, and is expected to lead the global market throughout the forecast period. The presence of established telecom and cloud infrastructure in this region, and growing trend of smart cities drive the market growth in the region. The growing demand from energy sector, and technological advancements further support market growth in the region. The use of smart technologies in energy and utilities, investments in transmission and distribution infrastructure, and increasing ageing infrastructure is expected to support market growth in this region during the forecast period.
The companies operating in the market include General Electric, Eaton Corporation Plc, Mitsubishi Electric Corp., ABB Ltd., G&W Electric Company, Schneider Electric, Elster Solutions, Schweitzer Engineering Laboratories, Siemens AG, and S&C Electric Company. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
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Mar 04, 2020: The global Electric Scooters market size is expected to reach USD 41.98 billion by 2030 at a CAGR of 7.7% over the forecast period, according to a study conducted by Radiant Insights Inc. Increasing adoption of e-scooters among the young population, rising purchasing power of the middle-class community in developing countries, and rapid urbanization are expected to significantly drive product demand across the globe.
Electric scooters offer affordable last-mile transportation as compared to on-demand transportation.
Agility and ease of maneuver in densely populated areas with high traffic congestion are additional advantages these vehicles offer, which is expected to fuel E-scooters market growth.Consumer satisfaction is another essential factor for vendors trying to retain existing customers or looking to expand their customer base.
Vendors are trying to focus on two critical factors to attract customers: design/style and specifications.
In May 2019, Pure EV launched two electric scooters for the Indian market, EPLUTO and ETRANCE, with the long-range of 120kms per charge.
Ltd., VÄSSLA ELECTRIC SCOOTERS., and PURE EV are among other players that integrated swappable battery systems in their electric scooter variants.
