TechNavio recognizes the following companies as the key players in the Global Grid Optimization Solutions Market: ABB Group, SEL Inc., S and C Electric Co. Inc., GE Energy LLC, and Schneider Electric SA.
Commenting on the report, an analyst from TechNavio’s Clean Technology team said: ”Governments across the globe have been supporting the implementation of smart grids. Funds are being raised to support the deployment of smart grid optimization solutions, resulting in an increased number of smart grid solutions being built by grid optimization vendors across the globe. A large scale of smart grid construction was incorporated in China’s twelfth five-year development plan and it began in 2011. The US, too, offered a grant, under the Smart Grid Investment Grant program, through which the Obama Government has allotted US$4.3 billion for the development of smart grid applications. A part of this grant will be diverted to the development of grid optimization solutions as they are an integral part of the Smart Grid sector.”
According to the report, one of the major drivers is the emergence of smart grids, which has resulted in the integration of various new technologies/communication devices into existing power grids. This helps power utilities improve power transmission and distribution and helps them solve issues such as power failures/outages at a faster rate. Thus, the electricity distribution process is controlled and monitored, and thus, the efficiency of the existing grid is improved.
Further, the report states that one of the major challenges in this market is its exposure to cyber-attacks. As the deployment of grid optimization solutions includes communication networks and internet technologies, there is an increased risk of cyber-attacks and viruses. This can affect consumers, and thus will hinder the growth of the market.
The report also includes a discussion of the other vendors operating in this market. The other vendors in the market are Siemens AG, Ambient Corp., BPL Global Ltd., and Oracle Corp.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/content/global-grid-optimization-solutions-mark…
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our Clean Technology market research, please visit https://www.technavio.com/clean-technology
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TechNavio Announces the Publication of its Research Report-Global Grid Optimization Solutions Market 2012-2016
