The self-healing grid market is estimated to grow at a CAGR
of 9.07%, from 2017 to 2022, to reach a projected value of USD 2.66 billion by 2022.
A self
healing grid is a combination of sensors, automated controls, and
advanced software that helps in reducing the occurrence of power outages by identifying
faults and taking necessary action. A self-healing
grid also utilizes real-time distribution data to identify the fault and
isolate the fault area, thus, increasing grid reliability. Modernization of
aging grid infrastructure is one of the major opportunities for the self-healing
grid market.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=60620398
Asia Pacific is expected to be the fastest-growing market
for self-healing grid from 2017 to 2022. The growing focus on modernizing the
grid, mostly in China and Japan, along with increasing government initiatives in
the deployment of new communication technologies in the grid, has led to a
growth in the demand for self-healing grid. China and Japan are expected to be
the two largest markets for self-healing grid in the region in 2017. Government
support for reliable power supply through minimizing the power outage in both
countries will drive the self-healing grid market. Moreover, the market is also expected to grow
significantly in countries such as India and South Korea during the forecast period. Factors such as enhancing the
ability to optimize the energy allocation in the distribution network and
integration of new power generation capacity from renewable energy resources
are driving the self-healing grid market in India and South Korea.
Scope of the
Report:
By Application
·
Distribution
lines
·
Transmission
lines
By Component
·
Hardware
·
Software
& Services
By End-user
·
Public
Utility
·
Private
Utility
By Region
·
North
America
·
Europe
·
Asia
Pacific
·
Rest of
the World
Public utility is expected to be the fastest-growing segment
of the self-healing grid market from 2017 to 2022, owing to the significant
efforts being made by the government to extend the services of public utilities.
The grants by the governments will help in modernizing the grid. This will
boost the market for self-healing grid. North America and Asia Pacific are the
fastest-growing markets for public utility and offer various business
opportunities for self-healing grid solution providers in the public utilities segment.
Major European companies such as ABB (Switzerland) and Eaton (Ireland) are
involved in providing complete self-healing grid solutions. In Asia Pacific,
governments are focusing on increasing the contribution of renewable energy
sources to meet the domestic electricity demand. This will increase the grid
complexity, thereby driving the market of self-healing grid, which helps to
minimize the grid complexity.
Browse Research Report Summary With Complete TOC @
https://www.marketsandmarkets.com/Market-Reports/self-healing-grid-market-60620398.html
The hardware sub-segment is expected to be the fastest-growing
market, by component, from 2017 to 2022. These hardware devices include both
sensing as well as communication devices, which are an integral part of the
distribution network helping to mitigate the losses occurring from power
outage. The increasing deployment of
hardware component in self-healing grid will drive the hardware segment.
About MarketsandMarkets
MarketsandMarkets™ provides quantified B2B research on
30,000 high growth niche opportunities/threats which will impact 70% to 80% of
worldwide companies’ revenues. Currently servicing 7500 customers worldwide
including 80% of global Fortune 1000 companies as clients. Almost 75,000 top
officers across eight industries worldwide approach MarketsandMarkets™ for
their painpoints around revenues decisions.
Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
