Global Smart Grid Networking Market, is expected to witness an impressive growth rate with a CAGR of 11.1 percent during the period 2014-2019.
Deerfield Beach, FL -- (SBWIRE) -- 07/17/2015 -- Global Smart Grid Networking Market 2015-2019
About Smart Grid Networking
The smart grid networking platform consists of three segments: Hardware, Software, and Services. The Hardware segment includes cables, switches, in-home devices, and controllers. These devices are backed by networking software that comprises network performance monitoring management, IP address management, network traffic management, network device management, network configuration management, network security management, and other software. The hardware and software work in combination to facilitate features such as substation automation, distribution automation, energy management, real-time control, self-healing, and increased reliability and security. Smart grid networking systems enable analysis and mapping of energy consumption patterns of its customers, thus, helping in load forecasting and peak demand management, along with risk determination. They also help in avoiding power outages by providing detailed information about the functioning status of power system networks. They also have the ability to predict future energy demands by end-users such as homes, offices, and industries. The efficient implementation and management of smart grids largely depends on the capability to manage and act on the large amounts of network data, which can only be done with the help of smart grid networking systems.
Global Smart Grid Networking market to grow at a CAGR of 11.1 percent over the period 2014-2019.
The new report also emphasizes the need for better energy management. Many utilities are developing end-to-end solutions to manage the overall energy consumption of their end-users effectively. Power utilities are also adopting smart grid technologies and networking solutions to achieve the overall goal of creating an effective smart grid system.
"Many developed countries like the UK, Italy, the US and Japan are aiming to implement these end-to-end solutions by 2020 to enhance the monitoring of energy consumption in their countries,"
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Covered in this Report
Global Smart Grid Networking Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Global Smart Grid Networking market landscape and its growth prospects over the coming years. The report includes the segmentation of Global Smart Grid Networking market on the basis of type as well as geography. The report also includes a discussion of the key vendors operating in this market.
Smart grid investment worldwide is expected to boom in 2015. Smart grid network and communication technology holds a considerable market share in the smart grid sector, and the emergence of smart grid technologies is likely to facilitate the growth of several other technologies as well. "Smart grids are not only beneficial for energy management, but also save electricity, which is generally lost in T&D networks,"
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