The "Self-Healing Grid Market by Component (Hardware and Software & Services), Application (Transmission and Distribution Lines), End-User (Public and Private Utility), and Region (NA, EU, APAC, Row) - Global Forecast to 2022" report has been added to ResearchAndMarkets.com's offering.
The global self-healing grid market is estimated to be USD 1.72 Billion in 2017 and is projected to grow at a CAGR of 9.07%, from 2017 to 2022, to reach a market size of USD 2.66 Billion by 2022.
The self-healing grid market is driven by factors such as the government policies and legislative mandates for T&D utilities, complexity in distributed energy generation, and the need for protection of electric utilities from cyber attack. The emerging markets in Asia Pacific present a great opportunity for the self-healing grid market due to significant government initiatives to promote grid modernization.
The market in North America is expected to lead the global self-healing grid market by 2022. The market size in this region can be attributed to the increasing focus on grid modernization, of which self-healing grid is a part. Countries such as US and Canada are the key markets for self-healing grid in North America. The stringent regulatory framework regarding self-healing grid in the region is expected to drive the self-healing grid market in North America.
Self-healing grid market in the Asia Pacific region is expected to grow at the fastest CAGR during the forecast period. The key countries to demand self-healing grid technology in this region are China and India. Investment in the advanced grid infrastructure and fault detection systems will drive self-healing grid market in the Asia Pacific region.
The key players in the self-healing grid market include ABB (Switzerland), Siemens (Germany), GE (US), Eaton (Ireland), and Schneider Electric (France). Contracts & Agreements was the most commonly adopted strategy by the top players in the market from 2014 to 2017. It was followed by new product developments, mergers & acquisitions, and investments and expansions.
Market Dynamics
Drivers
- Protection of Electric Utilities From Cyber Attack
- Government Policies and Legislative Mandates Regarding Smart Grid Technologies
- Complexity in Distributed Energy Generation
Restraints
- High Initial Cost for Deploying Self-Healing Grid Technologies
Opportunities
- Advancement in Communication Technologies
- Modernization of Aging Grid Infrastructure
Challenges
- Low Acceptance Level of Self-Healing Grid in Developing Nations
Companies Mentioned
- ABB
- Cisco
- Eaton
- G&W
- GE
- Infosys
- Landis+Gyr
- Oracle
- S&C
- Schneider Electric
- Sentient Energy
- Siemens
For more information about this report visit https://www.researchandmarkets.com/research/jc39lx/2_66_billion?w=4
View source version on businesswire.com: http://www.businesswire.com/news/home/20180116006240/en/
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Topics: Smart
Grid