Advanced Distribution Management Systems Are Expected to Exceed $3.3 Billion in Annual Revenue by 2024, According to Navigant Research
By Business Wire News
A new report from Navigant Research analyzes the global market opportunities for advanced distribution management systems (ADMSs), including global forecasts for software purchases and upgrades, integration services, maintenance, analytics, and software as a service (SaaS) through 2024.
Offering the potential to unify utility distribution IT systems into a single, more efficiently managed platform, ADMSs have emerged over the past few years as a major smart grid technology innovation. As such, the market for ADMSs has expanded rapidly, fueled by investment in marketing and R&D coming from many of the major smart grid IT vendors. Click to tweet: According to a new report from Navigant Research, worldwide revenue from ADMSs, including software, services, maintenance, and analytics, is expected to grow from $681 million in 2015 to more than $3.3 billion by 2024.
“Although utilities still face a steep learning curve with ADMS technology, its direct and indirect benefits are becoming widely apparent,” says Lauren Callaway, research analyst with Navigant Research. “Industrywide, utilities are taking an increasingly strategic approach to their smart grid IT/OT deployments, and ADMSs represent a key element of this trend.”
Until recently, ADMS vendors have been at pains to provide experiential proof that their system can provide solutions and determine whether those solutions can be applied to each unique distribution grid, according to the report. As a result, vendors have been required to play a prominent role in the integration process and, in many cases, to actively build their product as they install it, managing it after installation at an unsustainably low cost. That is expected to change, according to the report, as penetration rises and utilities develop in-house expertise around these systems.
The report, “Advanced Distribution Management Systems,” analyzes the global market opportunities for ADMSs. It provides an assessment of current operational benefits for utilities, market drivers and barriers, regional trends, and technologies, in addition to business recommendations for both vendors and utilities. Global forecasts for software purchases and upgrades, integration services, maintenance, analytics, and software as a service (SaaS) for ADMSs, segmented by region and category, extend through 2024. The report also profiles key industry players and examines several utilities that have implemented ADMS technology to align with more ambitious smart grid initiatives and aggressive regulatory policies. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Energy Technologies, Utility Transformations, Transportation Efficiencies, and Buildings Innovations sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant is a specialized, global professional services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals deliver expert and advisory work through implementation and business process management services. The firm combines deep technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism to address clients’ needs in highly regulated industries, including Construction, Energy, Financial Services and Healthcare. More information about Navigant can be found at navigant.com.
* The information contained in this press release concerning the report, “TITLE TK,” is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.