The report, focuses on the global Smart Grid Market By Software market, and answers some of the most critical questions stakeholders are currently facing across the globe. Information about the size of the market (by the end of the forecast year), companies that are most likely to scale up their competitive abilities, leading segments, and challenges impeding the growth of the market are given. Learn details of the Software Market Research Report during 2017-2021
Smart grid communication software is expected to have the fastest growth rate during the forecast period. The software enables networking abilities in electricity distribution system for improving operations, maintenance, and planning by enabling two-way communication between different components of the utility grid involved in generation, transmission, and distribution.
The networking hardware and software work together to form a mesh network, enabling a utility grid with intelligent features such as substation automation, distribution automation, energy management, real-time control, self-healing, and increased reliability and security.
This report includes data collected from market leaders across the value chain and has been evaluated in detail.
Drivers, constraints, trends, impact and development are one of the many key parts of the report.
The smart grid market size is estimated to grow at a Compound Annual Growth Rate (CAGR) of +19% during forecast period 2017-2021. The market is driven by factors the availability of hardware and connectivity devices at affordable cost, rising need for real-time information system, government policies and legislative mandates, regional government initiatives for smart meter roll-outs, increasing demand for integration of renewable energy sources, and increasing awareness about carbon footprint management.
However, the utility operators face various obstacles while adopting smart grid solutions, such as security concerns, data protection, and lack of a standardized and uniform technology for smart grid.
Smart grid sensors are small, lightweight nodes that serve as a detection station in the network. Smart grid sensors enable the remote monitoring of equipment such as transformers and power lines and the management of energy resources in the smart grid.
Smart grid sensors determine, monitor, and measure the voltage supply and return them into a readable format signal. These sensors also detect electric current (AC or DC) in a wire, and generate a signal proportional to it in a digital output.
Smart grid sensors offer several advantages to utilities. They provide valuable data for energy transmission, which is maintained and utilized by the departments of utilities.
The report will help the market leaders/new entrants in this market in the following ways:
- This report segments the smart grid market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across different regions.
- This report helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
- This report will help stakeholders to better understand the competitors and gain more insights to enhance their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, and mergers and acquisitions.
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