The global Self Healing Grid market is valued at US$XX.XX million in 2017 and is projected to reach US$XX.XX million in 2023 exhibiting a CAGR of XX.XX% during the forecast span. Distribution and transmission systems are growing complex due to the integration of conventional power sources such as thermal power and non-conventional power sources including solar, wind, and hydro among others. Self healing grids are essential and are in demand owing to higher reliability, stability, and efficiency. Self healing grids establish communication with all of its four components which include generation, transmission, distribution, and consumers. The global self healing grid market is significantly driven by increasing cyber attacks on national grids. Also, the ability to anticipate and respond to system disturbances within limited time frame, is augmenting the demand for self healing grids across all geographic regions. Moreover, complexities in integrating different power sources such as solar, hydro, wind, and tidal among others into a common grid, is heightening the market growth of self healing grids across the globe. Furthermore, this market has ample of opportunities in modernization of the traditional grid system prevailing in most of the countries. However, lack of skilled workforce along with improper electrical infrastructure will restrain the growth of self healing grid market across the mentioned regions during the forecast period.
On the basis of application, self healing grid market is bifurcated into power transmission and power distribution. Both, transmission as well as distribution lines are the grid connected entities. Transmission lines are responsible for exporting electricity from generators to respective distribution networks. The distribution networks are then liable to export electricity to all the associated consumers. The exporting of the electricity is managed and controlled by the national grid.
On the basis of geography, self healing grid market is segmented as North America, Europe, Middle East & Africa, Asia-Pacific, and South America. North America holds significant share of the global self healing grid market owing to the early and rapid adoption of advanced technologies and high investment made in the research and development. Asia Pacific will experience the highest growth due to the increasing demand for more reliable, stable, and efficient grid system. Increasing adoption of the self healing grid systems in power sector will augment the growth for self healing grid market during the forecast period.
Self healing grid market is highly competitive due to the presence of well diversified international, and regional. However, some big international players dominate the market share owing to their brand image and market reach. With high market growth rate and increase in demand, this sector is attracting more players to enter into the market resulting in a more competitive self healing grid market. Competitive landscape provides with the strategy and investment details in order to boost up their presence.
Some of the key players of self healing grid market included in the report are ABB, Siemens AG, IBM, General Electric Company, S&C Electric Company, CISCO, Eaton, Itron, and Schneider Electric among others.
The Self Healing Grid market has been segmented on the basis of application, grid integration source, and geography.
By Grid Integration Source
Middle East and Africa
Key questions answered by the report
What would be the global Self Healing Grid market size from 2017-2022?
How are the major drivers and restraints affecting the global Self Healing Grid market and the opportunities which exist for the key vendors?
Which segment and region will lead the market growth and why?
A comprehensive analysis of competitive landscape and key market participants behavior.
Key strategies adopted by vendors, with in-depth analysis along with their impact on competition and market growth.