This growth can be ascribed to the rising demand for a reliable, secure, integrated, efficient, fast acceptance of the smart grid technology, a single platform for power transmission management, and the growing need to advance the power infrastructure in emerging nations.
In 2021, distributed energy resource management systems had the largest market share, of above 35%. Several steps have been taken by governments throughout the globe for power management in residential structures.
For example, in the U.S., the Building Technologies Office (BTO) allies with house manufacturers, educators, state and local governments, product makers, energy experts, utilities, and researchers to surge the power effectiveness of new and standing houses.
Browse detailed - Advanced Distribution Management System Market Revenue Estimation and Growth Forecast Report
In 2021, The North American advanced distribution management system industry had the highest revenue share, at approximately 32%. A huge part of utilities in the U.S. is taking steps in order to swap their present distribution systems with modern and enhanced
management systems. However, in Canada, there is a surge in the acceptance of enhanced technologies which will ultimately encourage fast infrastructure development and, finally, a rise in ADM's acceptance.
Furthermore, the existence of numerous businesses in the continent, including Oracle Corporation, General Electric, ETAP, Itron Inc., Minsait ACS, Opus One Solutions, Minsait ACS, AutoGrid, Innowatts Inc., and SparkMeter, boosts the market here.
Hence, the rising demand for a reliable, secure, integrated, efficient, fast acceptance of the smart grid technology, a single platform for power transmission management, and the growing need to advance the power infrastructure, are the major factors driving the advanced distribution management system industry.