U.S. smart grid network management systems market to exceed $1 billion by 2020
SUBNET Solutions Inc | Tuesday, May 15, 2012
A new report released by Zpryme found that the U.S. market for smart grid network management systems will grow to $1.05 billion by the end of the decade.
The report, titled U.S. Smart Grid Network Management Systems, noted that the market, which will be controlled by utilities as they begin new smart grid projects, will grow by 21 percent from its current $225 million to more than $1 billion in 2020.
The growth has already taken root, with 30 million smart meters currently operating in the U.S., which require utilities to adopt new smart grid technologies that will allow them to manage, monitor and control customers' electricity consumption. In addition to high-profile smart meters, utilities are increasingly using complex communication systems that allow companies to monitor and manage the state of their transmission and distribution systems in real-time.
These new T&D networks will result in quicker resolution of power outages and give utilities the ability to establish two-way communication between them and homes and businesses. The increased use of such systems will require utilities to also incorporate an integrated network management system to fully benefit from what the smart grid has to offer.
The report also features a Q&A session with smart grid expert Andres Carvallo, executive vice president of Proximetry, in which he details how other network management systems, such as cloud computing, will play into smart grid systems.
The market as a whole is expected to see myriad changes in the next five years as utilities deploy such systems to manage networks and new devices, supporting strong growth. However, the report projects that the market will see the most growth as utilities seek out network management solutions that can integrate, connect and manage customer-level devices.
"The significant number of renewables, electric vehicles and energy storage devices to be deployed into the near future introduces new complexity and a multitude of networking technologies, protocols, and standards to manage them all," it stated.
SUBNET has developed several solutions and products that can help utilities better manage their transmission and distribution networks. SUBNET's SubSTATION Explorer, a solution that unifies the visualization and control of all crucial substation information, helps utilities collect information scattered among dozens of different intelligent electronic devices that can then be analyzed and sorted with a standardized solution.
Substation Automation & Remote Access