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Future Growth Potential Enhanced by the Rising Need for Real-time Decision-making Solutions Among Grid Operators
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This research study provides an overview of digital grid deployment initiatives globally. It also identifies the factors that will drive and pose challenges to the industry’s move towards the digitalization of the transmission and distribution (T&D) network. The global digital grid (sensors, meters, and communication) market is expected to generate a cumulative revenue of $86.95 billion during the forecast period (2021–2030). This is expected to be driven by the rising need for grid efficiency improvements, the growing access to renewable energy, an aging infrastructure, and an increasing number of customer touchpoints through demand-side energy resources. However, budgetary concerns—especially following a pandemic—and lack of awareness among utilities will challenge the market growth in the medium term.While smart meters comprise the largest segment, grid line sensors comprise the fastest-growing one in the forecast period, with a CAGR of 10.2%. This is a highly competitive market with opportunities for traditional and new entrants. The global digital grid market is very diverse, with the presence of global players like Landis+Gyr, EDMI, Siemens, GE, and ABB, and new entrants or standalone product/solution providers like Sentient Energy, Trilliant, Micatu, Awesense, and others. The expected acceleration of the digital grid is likely to create revenue opportunities for both traditional T&D players and emerging startups in the industry.Geographic coverage: North America, Europe, Asia-Pacific (excluding China), China, and the rest-of-the-world (ROW) countries
Key Issues Addressed
Author: Rajalingam Chinnasamy
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