Market Report

The growing demand for power is the need of the hour. There is an increasing demand for reliable and continuous power supply, and this is especially an area of concern in developing and emerging economies of the world. The need to reduce transmission and distribution losses is also a point that needs to be addressed urgently. A smart grid is capable of addressing the aforementioned issues and essentially has the ability to modernize the power grid. One of the major factors driving the growth of the smart grid market is the resulting increase in efficiency and optimization that can be achieved with the use of this technology. Favorable government regulations and policies is another factor attributing to the growth of this market. Smart grid technologies play a major role in helping with greenhouse gas emission control and also increase the strength of critical infrastructure to be able to better withstand the effects of climatic change. Recent technological advancements that are fuellin...