About Volt/VAr Management System
The growing deployment of smart grids, increasing demand for electricity, improved technological advancement will help to boost global Volt/VAr Management System market in the forecasted period. Volt-VAr Management Software (VVMS) is a centralized distribution automation software that optimizes circuit VAr flow and circuit voltages. It is essential for the various function of electrical effectiveness including the capability to deliver energy within suitable voltage limits for the correct operation of consumer tools and to reduce losses. There are various applications of Volt/VAr Management System such as voltage level optimization along distribution lines, loss minimization applications along distribution lines and VAr management along distribution lines having pole-mount capacitor banks.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
Competition among existing players is due to the Time and Expense Management System market share occupied by leading players. The industry leader is engaged in offering innovative and superior quality products to cater to the ever-growing demand for Time and Expense Management System Market. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage.The Players having a strong hold in the market are Varentec, Eaton, General Electric Company (GE), Schneider, and Siemens. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Volt/VAr Management System market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Varentec Inc. (United States), Eaton Corporation (Ireland), General Electric Company (GE) (United States), Schneider Electric SE (France), Siemens AG (Germany), Advanced Control Systems (Indra Sistemas, S.A.) (France), Landis+Gyr (Switzerland), Open Systems International, Inc. (United States), Utilidata, Inc. (United States) and Beckwith Electric Co. Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are DC Systems (United States), S&C Electric Company (United States) and ABB (Switzerland).
Segmentation Overview
AMA Research has segmented the market of Global Volt/VAr Management System market by Type (Real-Time Volt-VAR Control and On-Demand Volt-VAR Control), Application (Distribution, Transmission and Generation) and Region.
On the basis of geography, the market of Volt/VAr Management System has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by End Use Industry, the sub-segment i.e. Industrial will boost the Volt/VAr Management System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component, the sub-segment i.e. Hardware will boost the Volt/VAr Management System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Upsurgind Investments in Distributed Grid Management and Renewable Power Generation and Growing Power Factor Optimization and Minimized Operational Cost
Market Growth Drivers:
Increasing Demand for minimizing the Losses Incurred in Electric Transmission and Distribution and Rising Need for Secure and Reliable Networks across the Globe
Challenges:
Continues Technological Advancements and Availability of Substitute Products for Volt/Var Management and High Cost Involved with the Setup of Smart Grid Managed Services
Restraints:
Higher Initial Investments might Stagnate the Demand for Volt/VAr Management System and Integration Complexities Associated with the Voltage Regulating System
Opportunities:
Highly Escalating Infrastructural Development across the Developing Economies and Highly Volatile AC Current and Voltage Supplies
In January 2017, AMSC, a global energy solutions provider serving wind and power grid industry leaders, announced that it is launching a product solution for electric utility customers at DistribuTECH the largest annual energy transmission and distribution event in North America. AMSC's D-VAR VVO™ is a new offering, which is specifically designed to mitigate power quality issues on the distribution power grid for increased solar capacity and to support conservation voltage reduction management. D-VAR VVO™ not only manages current power quality concerns, but also expands grid capacity for distributed generation, reacting seamlessly to cloud pass or changing wind speeds across the distribution grid.
Key Target Audience
Volt/VAr Management System Manufacturers, Volt/VAr Management System Distributors and Suppliers, Voltage Regulating Industry Associations, Research and Development Institutes, Government Agencies, Electronics and Electrical Industry Associations, Upstream and Downstream Buyers and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.