The analysts forecast global power utility monitoring system market to grow at a CAGR of 6.24 % during the period 2018-2022. The latest trend gaining momentum in the market is increase in use of real-time power distribution analysis in utility grids.
The real-time analysis comprises computerized circuit probe that measures real-time inputs such as voltage and current and outputs.
The outputs include customer consumption data to determine actual and forecasted power flow through the distribution grid.
Major key players in the global power utility monitoring system market: ABB, Emerson Electric, General Electric, Itron, Schneider Electric, and Siemens.
According to the power utility monitoring system market report, one of the major drivers for this market is Successful awareness programs encouraging consumers to adopt smart meters in Europe and North America. There are only a few consumers that have adequate knowledge of power distribution solutions.
Therefore, utilities are trying to educate consumers regarding the benefits of implementing advanced power distribution solutions. For instance, in the US, there is a significant belief among consumers that the power utilities are investor-owned, neglecting the fact that most of the power utilities are either public power utilities or rural electric cooperatives.
Further, the power utility monitoring system market report states that one of the major factors hindering the growth of this market is Increasing complexity in managing data in power utility monitoring systems. Smart grids generate a significant amount of data owing to their connected network.
At present, on an average, utilities require more than 150 devices for one smart meter for monitoring the grid. With an addition of the IoT connected devices and an increase in variable power generation sources, such as fossil fuels, gas, and renewable sources, data have increased by thousand times along with maintenance concerns.
Report at www.reportsnreports.com/.aspx?name=1317622.
Key questions answered in this report:
What will the market size be in 2022 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
Few Points from List of Exhibits Provided in Global Power Utility Monitoring System Market 2018-2022:
Exhibit 1: Related market
Exhibit 2: Market characteristics
Exhibit 3: Market segments
Exhibit 4: Market definition - Inclusions and exclusions checklist
Exhibit 5: Market size 2017
Exhibit 6: Validation techniques employed for market sizing 2017
Exhibit 7: Global power utility monitoring system market Market size and forecast 2017-2022 ($ mn)
Exhibit 8: Global power utility monitoring system market Year-over-year growth 2018-2022 (%)
Exhibit 9: Five forces analysis 2017
Exhibit 10: Five forces analysis 2022
Exhibit 11: Bargaining power of buyers
Exhibit 12: Bargaining power of suppliers
Exhibit 13: Threat of new entrants
Exhibit 14: Threat of substitutes
Exhibit 15: Threat of rivalry
Exhibit 16: Market condition - Five forces 2017
Exhibit 17: Customer landscape
Exhibit 18: Global power utility monitoring system market by end-user Market share 2017-2022 (%)
Exhibit 19: Comparison by end-user
Exhibit 20: Commercial and residential sector Market size and forecast 2017-2022 ($ mn)