Smart Grid Optimization Solutions Market in Americas 2015-2019
About Smart Grid Optimization Solutions
Smart grid optimization solutions have a wide array of advances that give utilities and grid operators to digital control a power delivery network. Although the concept of network optimization is simple, the practice is complex because it involves multiple variables and compensations. Rising demand, lack of predictability of renewable resource generation, volatile energy costs, and the emergence of electric vehicles are the factors that affect network stability. Utilities have to predict and diagnose potential problems and take decisions to provide high-quality and reliable services. Grid Optimization is an umbrella term that refers to improvements in three main areas:
Technavio Announces the Publication of its Research Report – Smart Grid Optimization Solutions Market in Americas 2015-2019
Technavio recognizes the following companies as the key players in the Smart Grid Optimization Solutions Market in Americas: ABB Ltd., GE Energy, Schneider Electric SA, S&C Electric, and Schweitzer Engineering laboratories.
Other Prominent Vendors in the market are: Ambient, BPL Global, and Oracle.
Commenting on the report, an analyst from Technavio’s team said: “One trend that is expected to foster growth in this market is the integration of advanced smart grid technologies. Smart grid technology and networks include the integration of advanced technologies, such as the Internet, PCs, and wireless networking, including WAN and LAN, with power grids.”
According to the report, the need to reduce power loss is a key driver that augments growth in this market. Developing and developed countries equally face the threat of power loss. Even in developed countries, almost 8% of power loss results from inefficient distribution systems. In some grids, the absence of low-voltage automation systems in transformers makes it difficult to measure energy lost during transmission.
Further, the report states that the reluctance of power utilities to upgrade their power grids is a significant challenge faced by the market. Many utilities across the globe upgrade their power systems only when they become damaged. This is an outcome of the near-term cost evasion strategy adopted by utilities, which acts as a barrier to the adoption of smart grids.