DUBLIN, Nov. 4, 2015 /PRNewswire/ -- Research and Markets (http://www.researchandmarkets.com/research/5g73r7/global_remote) has announced the addition of the "Global Remote Terminal Unit (RTU) in Smart grid Market 2015-2019" report to their offering.
The global remote terminal unit (RTU) in smart grid market to grow at a CAGR of 5.18% over the period 2014-2019.
The report, Global Remote Terminal Unit (RTU) in Smart grid Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas, EMEA, and APAC. It also covers the landscape of the global remote terminal unit (RTU) in smart grid market and its growth prospects in the coming years. The report includes a discussion on the key vendors operating in this market.
Standardization of hardware and software in control devices of the grid is making communication between other devices easy, thus helping in controlling, monitoring, and performing diagnostics. This is also reducing costs for utilities. Advanced IT implementation in power grids is making a higher level of integration in devices possible and providing only important information to the operator.
Higher integration allows more processes to be automated and reduces the risk of system failure, as each fault can be detected in advance and corrective measures can be taken immediately. The involvement of the operator is required only during critical situations. RTU devices are designed to meet all the recent safety standards, making them less vulnerable to cyberattacks, thus reducing system failures and increasing grid reliability. These improvements in technology will create demand for RTUs in smart grids in the future.
According to the report, the rising need for energy worldwide is influencing utilities to operate power plants at full capacity and produce power efficiently. As a result, there is a growing need for awareness about the grid conditions at all times and increased automation processes grids. Automation also reduces overall costs, as system failures due to negligence are minimized. RTUs are control devices helpful in controlling and monitoring substations from a remote location by communicating with master devices.
RTUs show real-time data of the grid and highlight areas of concern, such as points of greater T&D losses, to help operators address the problems. System automation, with the help of RTUs, detects a problem and has the capability to communicate with other control devices of the grid to fix any issue that requires the attention of its operators.
Further, the report states that reluctance of utilities to retrofit existing switchgear and control devices is a big challenge for the RTU industry.
To calculate the market size, the report considers revenue generated through sales of various RTU products used in smart grids in sectors such as:
Key vendors
Other prominent vendors
For more information visit http://www.researchandmarkets.com/research/5g73r7/global_remote
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SOURCE Research and Markets
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