Global Self-Healing Grid Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
MarketResearch.biz delivers in-depth insights on the global self-healing grid market in its upcoming report titled, “Global Self-Healing Grid Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027”. The global self-healing grid market is estimated to register a CAGR of X.X% in terms of value during forecast period 2018–2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global self-healing grid market report has been segmented on the basis of application, component, end user, and region.
Self-healing grids are a type of grids used in power distribution facilities. These are a part of the overall power distribution assemblies and consist of various sensors, advanced controls and software’s, and automated switchgears. Self-healing grids are also referred to as smart grid systems, owing to its ability to analyze distribution networks for detecting faults in real time and to reconfigure flow of electricity so as to minimize the impact on consumers due to electric faults. Self-Healing grids are widely used to improve system reliability.
Growing demand for uninterrupted power supply from various end users that include industries, government organizations, commercial outlets, and individual consumers is a major factor driving growth of the global self-healing grid market. In addition, government initiatives for development of power distribution grids coupled with rising demand for reduction in complexities in existing power distribution utilities are other major factors expected to boost growth of the global self-healing grid market over the forecast period.
However, high initial costs associated with procurement and installation of self-healing grids is a major factor restraining growth of the global self-healing grid market. Additionally, problems associated with security of these grids from cyber-attacks and need for regular upgradation and maintenance of these grids are other major factors anticipated to hamper growth of the global self-healing grid market over the forecast period.
Currently, the market in North America dominates the global self-healing grid market in revenue terms owing to increasing government initiatives for development of power distribution grids and high adoption of technologies in transport and distribution of power in countries in the region. The market in Europe accounted for second-highest revenue share in the global self-healing grid market, followed by markets in Asia Pacific, Latin America, and Middle East & Africa respectively. The market in Asia Pacific is projected to witness fastest growth in terms of revenue, owing to increasing investment by governments in emerging economies such as China and India for development of power grid infrastructure.
Global self-healing grid market segmentation:
- Distribution lines
- Transmission lines
- Sensing devices
- Communication devices
- Software & Services
By end user:
- Public Utility
- Private Utility
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- General Electric Company
- ABB Ltd.
- Siemens AG
- Schneider Electric
- Itron Inc.
- Aclara Technologies LLC
- Cisco Systems Inc.
- Open Systems International Inc.
- International Business Machines Corporation
- Wipro Limited
- Oracle Corporation
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