- The key vendors in the Smart Grid Market in the Americas are ABB Ltd., GE Energy, Landis+Gyr AG, Schweitzer Engineering Laboratories Inc. and Siemens AG.
London, 20 August 2014: TechNavio, an independent tech-focused global research firm, announced today the publication of its market research report on the Smart Grid Market in the Americas 2014-2018. One of the major trends in this market is the integration of renewable energy sources into power grids. The overall market is expected to grow at a CAGR of 9.6 percent during the forecast period.
A smart grid is a large global commercial venture that aims to modernize the existing power grid by using the latest technology, which helps utilities to minimize the level of transmission and distribution losses, improve power system efficiency, and optimize the utilization of resources. It improves the reliability of the power grid by registering and reducing the frequency and duration of disturbances, faults, and outages, with the help of advanced metering infrastructure, data management software, and communication networks.
“The future of the market looks promising with the increase in the number of applications such as power distribution systems, microgrid management and applications of synchrophasor technology,” says Faisal Ghaus, Vice President of TechNavio Research.
To define the market conditions in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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