The telecom and IT & ITeS segments collectively accounted for around 49.3% market share in 2021, with the former constituting around 30.1% share.
WILMINGTON, DE, UNITED STATES, November 16, 2023 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled, “Advanced Distribution Management System Market, by Solution (ADMS Platforms, Services), by Organization Size (SMEs, Large Enterprise), by End Use Vertical (Energy and Utilities, Defense and Government, Manufacturing, Transportation and Logistics, Telecom, IT and ITeS, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031″.
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.
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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.
The telecom and IT & ITeS segments collectively accounted for around 49.3% market share in 2021, with the former constituting around 30.1% share. The manufacturing and defense & government segments are expected to witness considerable CAGRs of 22.5% and 20.6%, respectively, during the forecast period.
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The competitive environment of Advanced Distribution Management System Industry is further examined in the report. It includes details about the key players in the market’s strengths, product portfolio, Advanced Distribution Management System Market share and size analysis, operational results, and market positioning. It comprises the actions taken by the players to grow and expand their presence through agreements and entering new business sectors. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.
Eaton Corporation Plc
Mitsubishi Electric Corporation
Schneider Electric SE Siemens AG
Wipro Limited and Many More
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.
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.
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.
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