According to a new report published by Allied Market Research, titled, “Advanced Distribution Management System Market," The advanced distribution management system market was valued at $2 billion in 2021, and is estimated to reach $11.2 billion by 2031, growing at a CAGR of 19.3% from 2022 to 2031.
An advanced distribution management system (ADMS) is the software platform that supports the entire scope of distribution control and implementation. An ADMS's cutting-edge components offer next-generation control capabilities that surpass those of traditional distribution management systems. Some of the features include closed-loop interactions with ADMS and tighter utility tool integration for asset data and meter data management. An ADMS can automate outage restoration and boost the effectiveness of the distribution grid. The ADMS is significant because it supports control room and field operating staff and effectively monitors and controls the electrical distribution system, enhancing safety, effectiveness, asset protection, and customer satisfaction.
COVID-19 has forced billions of organizations around the world to adopt remote work policies. The transition has led to a rapid increase in demand for tools to support remote teams and workflows. While there are certainly challenges involved in going fully remote. The fear of going out developed a trend for purchasing from home and boosted online connectivity systems and other related industries. Since then, on-demand manufacturing and mass customization have been growing faster than ever, and observing the trend; it is expected to drive growth through advanced distribution management system market forecast data.
According to Akansha Priya Gandham, Lead Analyst, ICT, at Allied Market Research, “The increased adoption of tech-driven innovation in relation to energy & utility sector is expected to boost growth in the market for advanced distribution management system. The optimize CAPEX, administration, Voit-VAR optimization, investment, and utilization of e-mobility have all been influenced by advanced distribution management system.”
Region wise, North America held a significant global advanced distribution management system market share, due to the country's expanding hotel capacity, the U.S. currently dominates the regional market for North America. The main drivers of the growth of the ADMS Market in North America are government initiatives to promote innovation, urbanization and advancements in green sustainable energy management. Moreover, growing adoption of cloud integrated power infrastructure, smart grid management systems and automating outage restoration processes management are the primary factors that drive growth of the ADMS Market in Asia-Pacific and Europe.
KEY FINDINGS OF THE STUDY
- By solution, in 2021, ADMS Platforms segment was the highest revenue contributor to the market, with $1,509.8 million in 2021. However, the services segment is estimated to reach $2,259.0 million by 2031, at a significant CAGR of 17.9% during the forecast period.
- By service, support & maintenance services exhibits dominating shares in the market. However, consulting and integration & implementation are expected to grow with impressive CAGR.
- By organization size, the large enterprises segment was the highest revenue contributor to the market, with $1,475.8 million in 2021. However, the small & medium-sized enterprises (SMEs) segment is estimated to reach $2,199.5 million by 2031, at a significant CAGR of 16.7% during the forecast period.
- By end use vertical, the telecom segment was the highest revenue contributor to the market, with $587.3 million in 2021. However, the IT & ITeS segment is estimated to reach $1,594.9 million by 2031, during the forecast period.
- Region wise, the advanced distribution management system market size is dominated by North America region. However, Asia-Pacific and Europe is expected to witness significant growth rate during the forecasted period.
- The report includes the market share of key vendors and advanced distribution management system industry.
- The overall advanced distribution management system market analysis is determined to understand the profitable trends to gain a stronger foothold.
Key players profiled in the report include Eaton Corporation Plc, General Electric, Hitachi Ltd., Itron Inc., Mitsubishi Electric Corporation, Oracle Corporation, Schneider Electric SE, Siemens AG, Innowatts Inc. and Wipro Limited. Market players have adopted various strategies, such as product launch, collaboration & partnership, joint venture, and acquisition to expand their foothold in the advanced distribution management system industry.