DUBLIN, Feb. 12, 2018 /PRNewswire/ --
The "Global Power Utility Monitoring System Market 2018-2022" report has been added to ResearchAndMarkets.com's offering.
The global power utility monitoring system market to grow at a CAGR of 6.24 % during the period 2018-2022.
Global Power Utility Monitoring System Market 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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.
According to the 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 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.
Market trends
- Increase in use of real-time power distribution analysis in utility grids
- Growing adoption of smart sensors in power utilities
- Increase in adoption of microgrids
Key vendors
- ABB
- Emerson Electric
- General Electric
- Itron
- Schneider Electric
- Siemens
Key Topics Covered:
Part 01: Executive Summary
Part 02: Scope Of The Report
Part 03: Research Methodology
Part 04: Market Landscape
Part 05: Market Sizing
Part 06: Five Forces Analysis
Part 07: Customer Landscape
Part 08: Market Segmentation By End-User
Part 09: Regional Landscape
Part 10: Decision Framework
Part 11: Drivers And Challenges
Part 12: Market Trends
Part 13: Vendor Landscape
Part 14: Vendor Analysis
Part 15: Appendix
For more information about this report visit https://www.researchandmarkets.com/research/g98d8d/global_power?w=5
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SOURCE Research and Markets
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