The global smart grid communication market is expected to witness considerable growth over the next six years owing to high energy efficiency offered by smart grid communication technology coupled with rising government investments. This technology offers efficient dispatch of power, proper grid discipline along with efficient scheduling which is projected to accentuate the smart grid communication market growth.
Smart grid concept has been widely adopted by various nations in order to address the electricity-based transmission and distribution infrastructure problems which are simultaneously driving the smart grid communication market. Communication system forms the key component for smart grid infrastructure as the majority of smart grid function occurs on a real time basis.
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These networks provide required infrastructure allowing utilities to manage devices from a central location. It also provide advanced power utilities through facilitating data management and two way communication which is anticipated to trigger smart grid communication market growth over the forecast period. Various technological advancement has led to the replacement of machine-to machine technology with usage of field-based sensors and wireless technologies for supporting Supervisory Control And Data Acquisition (SCADA) systems.
Smart grid communication reduces the operational errors along with reducing carbon emissions which is expected to drive market growth. Slow response time provided by traditional switches along with rising energy consumption is projected to drive the smart grid communication market over the next six years. However, lack of interoperability of standards along with high installation cost may hamper the market.
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The smart grid communication market can be classified on the basis of technology into wireless and wired communication system. Wireless communication systems are favored over wired systems owing to low infrastructural requirements along with high level of flexibility.
Owing to the availability of advanced technological infrastructure, North America is projected to be the dominant region for the smart grid communication market. Asia Pacific is anticipated to be the emerging regions due to rising demand for smart grids.
Notable vendors in the smart grid communication market include ABB Ltd, International Business Machines Corporation, Verizon Communications Inc., Cooper Power System LLC, Tropos Network. Inc., Infrax Systems Inc., Sensus and Viola Systems.
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