DUBLIN, Oct. 29, 2015 /PRNewswire/ -- Research and Markets (http://www.researchandmarkets.com/research/gdvndt/smart_grid) has announced the addition of the "Smart Grid Equipment in the US 2015-2019" report to their offering.
The report forecasts the smart grid equipment market in the US to grow at a CAGR of 4.05% over the period 2014-2019.
The report covers the present scenario and the growth prospects of smart grid equipment market in the US for the period 2015-2019. The market is segmented on the basis of equipment type: software and hardware, smart meters, sensors, communication and wireless network infrastructure, and smart T&D equipment. The report includes a discussion of the key vendors operating in this market.
According to the report, many power grids in the US are reaching the end of their life cycle and are facing infrastructure-related challenges in their day-to-day operations. Most power grids in the US are more than 100 years old and were designed to carry much smaller loads than it does today. With the growing population and rapid technological advances in the consumer electronics industry, the rate of power consumption has increased considerably. Therefore, power grids need to be upgraded. This upgrade is facilitated by the adoption and incorporation of various smart grid technologies into the power grid, fueling the market growth.
Further, the report states that the lack of standards also hinders future innovation and realization of applications such as smart appliances that are responsive to demand and price response signals.
Following are some of the equipment required for the transformation of traditional electrical grids into smart grids:
- Hardware and software technologies
- Smart meters
- Communication and wireless network infrastructure
- Smart T&D equipment
- GE Digital Energy
- Schneider Electric
- Siemens Energy
Other prominent vendors
- Arbiter Systems
- Sensus Metering Systems
- Silver Spring Networks
For more information visit http://www.researchandmarkets.com/research/gdvndt/smart_grid
Laura Wood, +353-1-481-1716, [email protected]
SOURCE Research and Markets