June 17, 2015
Many utilities are developing end-to-end solutions to manage the overall energy consumption of their end-users. An end-to-end solution helps monitor and control total energy production, transmission, and consumption along with better management of energy. Power utilities are increasingly using smart grids and networking solutions with modern sensing technologies to achieve an effective smart grid system. Many developed countries such as the UK, Italy, the US, and Japan are aiming to implement these end-to-end solutions by 2020 to enhance supervision of energy consumption in their jurisdictions. We expect this rising trend in the demand for energy management to boost the market during the forecast period.
According to the report, the increased implementation of smart grids is expected to propel the growth of the market. Investments in this technology worldwide may exceed $100 billion by 2015, as several large-scale projects related to the implementation of smart grid applications and smart grid networking have been undertaken by global companies. Smart grids are expected to facilitate the growth of several technologies such as meter data management, AMI, sensing applications, and others. The smart grid sector includes smart grid applications and equipment such as smart energy meters, smart sensors, SCADA systems, substation automation, IT, and other communication networks. These applications hold a considerable market share in the smart grid sector.
The market is highly fragmented with several small and medium-sized vendors offering smart grids and efficient sensors along with data analytics and networking solutions.
DUBLIN–(BUSINESS WIRE)–Research and Markets(http://www.researchandmarkets.com/research/p72z2k/global_smart_grid) has announced the addition of the “Global Smart Grid Sensors Market 2015-2019” report to their offering.