Smart Grid Communication Technologies Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth and Forecast 2014 - 2020

Smart grid is a relatively modern concept of ensuring proper grid discipline and efficient scheduling and dispatch of power. In some literatures, smart grid has even been defined as an infrastructure facilitating the integration of the electricity grid with energy resources, communications and automated control technology. The concept of smart grid propagated with the need to integrate intermittent sources of renewable energy generation and the electrical grid.

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Smart grid concepts are adopted by multiple nations to address the transmission related problems and also electricity based distribution infrastructure. Smart grids aim to improve the efficiency, safety and reliability of the electrical grid. For the development of better smart grid infrastructures, a very strong and robust communication system needs to be established. Essentially, the smart grid communications systems market is likely to grow hand in hand with the growth of smart grid implementations globally. Communication systems form the key component of any smart grid infrastructure as the majority of smart grid functions occur on a real time basis.

The major drivers for the smart grid communication technology market include: reduction in the technical & commercial losses, real time monitoring of the systems and reduction in the operational errors whereas the major constraints of the market involve the cost and time associated with the installation of smart grid systems. Installation of the smart grid equipments incurs extra burden on the utilities and reduces the initial profit level. New technological advancements in the communication technologies and long term profits bring new opportunities to the smart grid system market.

It is extremely important for every electrical utility setting its eyes on a smart grid system to carefully analyze its communication requirements first. With...