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Help in waste and water management Cleaner energy use
There is an increasing influx of people that are moving into the cities, this phenomenon is creating immense pressure on grids and will impact citizens. Smart grids are needed here due to its better infrastructure of transmission and distribution which is capable of handling bidirectional energy flows, this allows energy generation from multiple sources such as photovoltaic cells on the roof, using fuel cells, wind turbines, hydroelectric power and so on. Additionally, smart grid technology is required for a huge amount of energy on the grid due to its ability to sustain a large amount of fluctuations caused by weather conditions. Current Market Trends in the Smart Grid Market •
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Smart meters have been deployed significantly in most of the regions. China is in the lead position followed by Japan, Spain, and France. In the US and European Union smart meters are placed in half of the market. Usage of Microgrid, which can be used as power backup or on-site power generation system in hospitals, military bases, universities, research facilities and so on. Some of the efficient microgrids are being used in few universities of the US.
Global Smart Grid Market- Segmentation By Software • • • • •
Advanced Metering Infrastructure Smart Grid Distribution Management Smart Grid Security Grid Asset Management Billing and Customer Information System
By Hardware • • • •
Smart Meters Sensors Programmable Logic Controllers (PLC) Others
By Service • •
Consulting Support and Maintenance