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Research analysis on the global grid optimization solutions market identifies that the transition to smart grids will be one of the major factors that will have a positive impact on the growth of the market. Technavio’s market research analysts predict that this market will grow at a CAGR of more than 11% by 2021. The transition from rigid structures to smart grids is driven by factors such as climate change policies, urbanization, and technological advancements. Smart grids offer advantages such as optimization to all grid functions by installing sensors, communication systems, and information technology. This makes the grid smarter and enables utilities to achieve the balance between cost, reliability, and efficiency. Moreover, this transition also assists utilities to obtain real-time control and improved data exchange that in turn will permit them to manage risks, maximize asset utilization, carry out systematic maintenance to increase the network performance and efficiency. This will subsequently drive the need for grid optimization solutions, fueling market growth.
The rising need for energy efficiency is one of the latest trends that will gain traction in the grid optimization solutions market in the forthcoming years. Energy efficiency is one of the most effectual ways to lower energy consumption rates as it is much more profitable than procuring extra power from reserve plants or investing in building newer power sources. Grid efficiency can be improved by optimizing system performance and increasing asset utilization. Improving energy efficiency in grids leads to lesser burden on energy systems and reduced line losses. This increases the need for energy efficiency in grids. Additionally, investments in energy efficiency will also pave the way for utilities to adopt grid optimization technologies in the future.
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market by products
PART 07: Geographical
PART 08: Decision framework
PART 09: Drivers and challenges
PART 10: Market trends
PART 11: Vendor landscape
PART 12: Key vendor analysis
PART 13: Appendix
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