Analysts forecast
the Global Grid
Optimization Solutions market will grow at a CAGR of 16.4 percent over
the period 2013-2018. Grid optimization involves a wide array of prospective
advances that gives utilities and grid operators digital control of the power
delivery network. Although the concept of network optimization is simple, the
practice is complex because it involves multiple variables and compensation.
The factors that threaten the network instability include demands rise, the
unpredictable generation from renewable sources, volatile energy costs, and the
emergence of electric vehicles. Utilities have to predict and diagnose
potential problems on the faster edge, and to make decisions of control located
in a matter of seconds in order to provide a high-quality and reliable service.
Grid optimization serves as an umbrella term that encompasses improvements in
three main areas:
- System Reliability
- Operational Ef?ciency
- Asset Utilization and Protection
The Report
recognizes the following companies as the key players in the Global Grid
Optimization Solutions Market : ABB Ltd., GE Energy LLC, Schneider Electric SA
, S&C Electric Co. Inc., Schweitzer Engineering Laboratories (SEL) Inc.,
Ambient Corp., BPL Global Ltd, Oracle Corp.
Countries across the
globe have supported the implementation of smart grids. Funds are being raised
to support the deployment of smart grid optimization solutions, resulting in an
increased number of smart grid solutions being built by grid optimization
vendors. A large-scale smart grid construction project was incorporated in
China's 12th five-year development plan work which began in 2011
Covered in this Report
The Global Grid
Optimization Solutions market can be segmented into three divisions based on
application: Generation Optimization, Transmission Optimization, and
Distribution Optimization.
Global Grid
Optimization Solutions Market 2014-2018, has been prepared based on an in-depth
market analysis with inputs from industry experts. The report covers the Grid
Optimization Solutions market landscape and its growth prospects in the coming
years. The report also includes a discussion of the key vendors operating in
this market.
According to the
report, an increased number of power outages has spurred the need for varied
grid optimization solutions. The market was dominated by the Americas in 2013
followed by the EMEA and the APAC regions. The Global Grid Optimization
Solutions market is expected to grow at a CAGR of 16.4 percent during the
period 2013-2018.
Further, the report
states that despite the presence of several drivers, the Global Grid
Optimization Solutions market is curtailed by some serious challenges.
Vulnerability to cyber-attacks is one of the major challenges in the market.
There is an increased threat of cyber-attacks and viruses as the deployment of
grid optimization solutions includes communication networks and the internet.
