Press release
Unveiling the Global Self-Healing Grid Market 2024 - Comprehensive Industry Research, Anticipated Future Growth, Latest Trends, and Forecast To 2033
Self-Healing Grid Market
The Business Research Company presents an extensive market research report on the Self-Healing Grid Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The self-healing grid market size has grown strongly in recent years. It will grow from $2.12 billion in 2023 to $2.33 billion in 2024 at a compound annual growth rate (CAGR) of 10.0%. The growth in the historic period can be attributed to early adoption for pilot projects, grid modernization programs, government initiatives and regulations, utilities' emphasis on system efficiency, demand for grid reliability, rising frequency of grid outages..
The self-healing grid market size is expected to see rapid growth in the next few years. It will grow to $3.43 billion in 2028 at a compound annual growth rate (CAGR) of 10.1%. The growth in the forecast period can be attributed to increasing investment in cybersecurity solutions, development of advanced control algorithms, focus on grid modernization initiatives, expansion of renewable energy integration.. Major trends in the forecast period include collaboration and standardization, advancements in grid automation, integration of ai and predictive analytics, development of distributed energy resources (ders), enhanced communication and control systems, advancements in edge computing and iot.
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Key Market Players:
Major companies operating in the self-healing grid market report are Siemens AG, General Electric Company, S & C Electric Company, Eaton Corporation plc, Schneider Electric SE, Oracle Corporation, Landis+Gyr Corporation, Itron Inc., Sprecher Automation GmbH, Georgia Power Co., Eastern Green Power Pte Ltd., EnergyTech Global Pvt. Ltd., Hitachi Ltd., Open Systems International Inc., Det Norske Veritas Germanischer Lloyd, ABB Ltd., Aclara Technologies LLC, Cisco Systems Inc., International Business Machines Corporation, Wipro Limited, Sentient Energy Inc., Infosys Limited, G&W Electric Company, Alectra Utilities Corporation, Honeywell International Inc., C3.ai Inc., Power Analytics Corporation, Utilidata Inc., Varentec Inc., Enel X North America Inc., Opus One Solutions Energy Corporation, Advanced Microgrid Solutions Inc., Blue Pillar Inc., Powerhive Inc., Spirae LLC, Gridco Systems Inc., Autogrid Systems Inc., CleanSpark Inc., Grid4C Inc., Smarter Grid Solutions Inc.
Market Drivers:
The increasing adoption of clean energy sources such as wind and solar is expected to propel the growth of the self-healing grid market going forward. Clean energy sources are energy sources that are created utilising energy that is renewable, clean, and emits no emissions while using. The increasing production and adoption of clean energy sources requires self-healing grids as they enable integrated systems for large-scale renewable energy use. For instance, in December 2021, according to a report published by the International Energy Agency, a France-based intergovernmental organization, nearly 95% of the anticipated growth in global power capacity until 2026 is projected to be driven by renewables, with solar photovoltaic (PV) contributing more than half of this expansion. The increase in renewable capacity during the 2021-2026 period is forecasted to be 50% greater than the growth observed from 2015 to 2020. Therefore, the increasing adoption of clean energy sources such as wind and solar drives the self-healing grid market.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/self-healing-grid-global-market-report
The self-healing grid market covered in this report is segmented -
1) By Component: Hardware, Software and Services
2) By Application: Transmission Lines, Distribution Lines
3) By End-User: Public Utility, Private Utility
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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