Smart grid is a modern concept encompassing integration of electricity grid with renewable and non-renewable energy resource, automated control and communication networks. Smart grid aim to improve the efficiency, safety and reliability of the electrical grid. Communication is vital in smart grid infrastructure as most of the operations in smart grid are carried out in real time. Communication nodes in smart grids are the redistribution points for communication within the smart grid network. Smart grid communications systems are directly dependent on smart grid networks. For the development of better smart grid infrastructures, a strongand robust communication system is needed. The type and technology for smart grid communication needs to be carefully studied for optimal performance output. Primarily, communication in terms of data, numbers and voice takes place in a smart grid. Communication nodes are installed in smart home appliances, sensors, smart meters, and utility data centers.
The adoption of smart grid communication nodes is increasing rapidly worldwide.The market for smart grid communication nodes has expanded colossally since its inception. North America and Europe have matured smart grid communication nodes markets. Asia Pacific has a huge potential market for smart grid communication nodes and is growing significantly.
The global smart grid communication nodes market is commonly segmented on the basis of technology and geography. There are primarily two main modes of smart grid communication nodes including wireless and wired (fixed) communication nodes. Wireless communication nodes are more practical and feasible over wired communication nodes. Wired communication nodes needs more infrastructure and thus cover a smaller area as compared to wireless communication nodes. Europe and North America are the matured markets of the smart grid communication nodes. Countries such as the U.S, U.K, Germany and France have the major chunk of the global market share. Asia Pacific is likely to pose one of the lucrative markets for smart grid communication nodes. Japan, South Korea and China are some of the major players in Asia Pacific. Countries such as China and India are likely to witness substantial demand in the foreseeable years and are expanding constantly.
The rising demand for uninterrupted power supply and streamlining communications between power suppliers and consumers have equally bolstered the demand for smart grid communication nodes.Smart grid communication nodes assist in the reduction of technical and commercial losses. They also abet in the real-time monitoring of systems and communicating the feedback. All these factors have attributed to the overall demand of the smart grid communication nodes market. Operational errors are also reduced due to the usage of communication nodes.
However, high installation costs could impede the growth of smart grid communication nodes market. New technological advancements such as RF mesh, point-to-multipoint,Worldwide Interoperability for Microwave Access (WiMAX), and LTE will further boost the smart grid communication nodes market. Long term profits will also bring new opportunities to the smart grid communication nodes market.
Some of the key players in the global smart fault detection system for electricity transmission market include ABB Ltd.,ETap Inc., Metrycom Communication Ltd., Osisoft LLC, Southern States LLC, Sensus, Viola Systems, Tropos Networks Inc. and Trilliant Inc.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.