(MENAFN - GetNews) The Self-Healing Grid market is expected to grow at 9% CAGR during the period 2019 to 2023.
Netherlands based company Alfen launches world's first storage solutions for self-healing grids.
US government announced funding up to $220 million for grid modernization.
The Self-Healing Grid Market is growing at a faster pace with the introduction of new energy which is developing rapidly. The alluring advantages of self-healing smart grid give solutions such as less pollution, storage of energy and renewed energy to help the overall market grow and capture high position. The self-healing grid system includes automated controls, advanced software, and sensors. These detect faults by utilizing real-time distribution data to reconfigure the distributed network. Some of its essential functions are creating stability and improve reliability. Such smart grids employ real-time communication technologies and digital components to monitor electrical strength.
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In Market Research Future (MRFR) Report, Applications, Components, End-Users have segmented the Global Self-Healing Grid Market.
- Transmission Line
- Distribution Lines
- Public Utility
- Private Utility
Geographically, the global self-healing grid market is seen propelling in regions like North America, Asia Pacific, Europe, and the rest of the world. Among these, the Asia Pacific region is expected to grow at the highest CAGR from 2017-2022 where China was leading, followed by India and Japan. The factor of rising population with high energy demand has resulted in tremendous for electric infrastructure. This helped wisely in the growth of the self-healing grid market subsequently.
Factors Driving Self-Healing Grid Market
Increased focus on advanced control, big data, and artificial intelligence will help with raising the future development of self-healing technology. On account of the security of cyber-attack, adoption of legislative commands by Government bodies and moderation in electricity distribution are the key factors propelling the self-healing grid market. However, the availability of substitutes for self-healing grid technology, initial high costing may hamper the growth of the market over the assessment period. But, due to continuous innovation in communication technologies and upgradation of grid infrastructure can create more opportunities for the growth of the self-healing grid market in the forecast period.
Key Players in Self-healing grid Market
The key players of Global Self-Healing Grid Market are
- ABB Ltd. (Switzerland)
- Siemens AG (Germany)
- General Electric Company (U.S.)
- S & C Electric Company (U.S.)
- Sentient Energy, Inc. (U.S.)
- Eaton Corporation plc (Ireland)
- Schneider Electric SE (France)
- Landis+Gyr AG (Switzerland)
- Cisco Systems, Inc. (U.S.)
- Infosys Limited (India)
- Oracle Corporation (U.S.)
- G & W Electric (U.S.)
Browse the Full Research Report At@ https://www.marketresearchfuture.com/reports/self-healing-grid-market-5442
Table of content
1 Executive Summary
2 Scope of the Report
3 Market Landscape
4 Market Dynamics
5 Global Self-Healing Grid Market, By Application
6 Global Self-Healing Grid Market, By Component
7 Global Self-Healing Grid Market, By End-User
8 Global Self-Healing Grid Market, By Region
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