Enjoy complimentary customisation on priority with our Enterprise License!
A smart grid uses computer-based automation technology to monitor and control power flows from the point of generation to consumption, enhancing predictability, visibility, and efficient management of the production and demand. The reduction in the reliance on foreign oil imports for energy consumption and the rise in concerns about greenhouse gas emissions is expected to drive the smart grid equipment market. Technavio’s market research analyst predict the smart grid equipment market in the US to witness a steady growth at a rate of around 9% during the forecast period.
The smart grid can aid in significantly reducing the cost incurred due to power disturbances. For instance, the annual cost of power disturbances in the US is around USD 100 billion. Real-time data monitoring by the use of advanced sensors and measurement techniques will enable the grid to detect, analyze and respond to peak load and adverse situations.
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.
Get the report (PDF) sent to your email within minutes.