Dallas, Texas (PRWEB) August 23, 2014
One of the major trends in this market is the integration of renewable energy sources into power grids. The shifting focus from conventional sources of power generation to renewable sources will also require appropriate T&D infrastructure and energy management systems to balance the electricity supply and demand accordingly.
According to the “Smart Grid Market in the Americas 2014-2018” report, one of the major drivers in this market is the aging power grid infrastructure. The need to retrofit conventional power generation systems to improve their efficiency and reduce losses complements the growth of the Smart Grid Market in the Americas.
A smart grid is a large global commercial venture that aims at modernizing the power grid by using latest technology that helps utilities in minimizing the level of T&D losses, improving power system efficiency, and assisting in optimized utilization of resources. It improves the reliability of power grid by registering and reducing the frequency and duration of disturbances, faults, and outages. This is achieved with the help of advanced metering infrastructure, data management software, and communication networks.
Covered in this Report
The Smart Grid market in the Americas can be segmented into four divisions: Integrated Communication, Sensing and Measurement, Cabling, and Consumer Interface.
The Smart Grid Market in the Americas 2014-2018 has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas; it also covers the Smart Grid market landscape in the Americas and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
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The report recognizes the following companies as the key players in the mart Grid Market in the Americas: ABB Ltd., GE Energy, Landis+Gyr AG, Schweitzer Engineering Laboratories Inc. and Siemens AG.
Other Prominent Vendors in the market are: Arbiter Systems, ElsterMetering Holdings, Itron and Sensus Metering Systems.
Further, the report states that one of the major challenges in this market is the high susceptibility of smart grids to cyber-attacks. The software used in smart grids is highly vulnerable to the threat of virus attacks and mishandling by engineers or operators. The main information control system in smart grids is exposed to security threats because of the regular usage of the internet and access through points for electrical and communication lines.
One of the emerging trends in the market is the growing use of off-the-shelf applications. An increase in various smart grid challenges such as the ones seen in IT, communication networks, and other devices within the grid led to an increased focus on the need to closely monitor, detect, and eventually prevent cyber threats.
According to the “Global Smart Grid Cyber Security Market 2014-2018” report, one major driver in the market is the increase in complexity of cyber threats. An increase in the adoption of smart grids, which enable two-way communication through various communication, networking mechanisms, paves the way for increased cyber-attacks. There was an increase in demand for smart grid cyber security systems because of a corresponding increase in the risk of hackers gaining access to sensitive information and data pertaining to customers of the smart grid network.
The report recognizes the following companies as the key players in the Global Smart Grid Cyber Security Market: BAE Systems plc, IBM Corp., IOActive Inc., Lockheed Martin Corp. and Symantec.
Other Prominent Vendors in the market are: AlertEnterprise, AlienVault, Black and Veatch, Elster, Entergy Services, HP, N-Dimension Solutions, Siemens, Sophos, Sourcefire and ViaSat
Further, the report states that one major challenge in the market is the lack of effective defensive measures to tackle cyber attacks. Various power utilities worldwide are reluctant to disclose the occurrence of smart grid cyber attacks because of more grid vulnerabilities being exposed and the ensuing negative impact on customer loyalty. The feeble nature of the disclosure mechanism in the industry would in turn make it difficult for the market to grow rapidly in the future.
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