HNY Research projects that the Self-Healing Grid market size will grow from USD 1.75 Billion in 2017 to USD 2.95 Billion by 2023, at an estimated CAGR of 9.12%. The base year considered for the study is 2017, and the market size is projected from 2020 to 2023.
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The self-healing grid market is driven by factors such as the government policies and legislative mandates for T&D utilities, complexity in distributed energy generation, and the need for protection of electric utilities from cyber attack. The emerging markets in Asia Pacific present a great opportunity for the self-healing grid market due to significant government initiatives to promote grid modernization. The hardware segment is estimated to lead the self-healing grid market in 2019. The hardware segment is also projected to grow at the fastest rate during the forecast period due to the increasing deployment of additional sensing as well as communication devices as a part of self-healing grid solutions. In North America, the major demand for hardware is from utilities for converting a smart grid into self-healing grid. This will boost the overall hardware market for self-healing grid.
By Market Players:
ABB , Eaton , Siemens , GE , G&W , S&C , Schneider Electric , Landis+Gyr , Cisco , Infosys , Oracle , Sentient Energy,
Hardware , Software & Services,
Distribution Lines , Transmission Lines, ,
Public Utility , Private Utility,
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