Power System State Estimator Market expected to reach $5.87 Billion by 2019 Report by Marketsandmarkets
(PRWEB) March 19, 2015 -- The report "Power System State Estimator Market by Software type, Application and Solution Methods - Global Trends & Forecasts to 2019", published by MarketsandMarkets, defines and segments the global Power System State Estimator Market with an analysis and forecast of the market size.
The Power System State Estimator Market will expand from an estimated $3 Billion in 2014 to $5.87 Billion by 2019 with a CAGR of 14.35% from 2014 to 2019.
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Browse 63 market data tables with 24 figures spread through 185 pages and in-depth TOC on "Power System State Estimator Market - Global Trends & Forecasts to 2019".
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The biggest market for state estimators is North America and Europe. The fast growth rate of the Latin American market can be attributed to the increasing investments on preventive steps taken up by developed countries such as U.S., U.K., and Germany among others to curb energy loss and theft, thereby increasing the demand for smart infrastructure. Increased adoption towards energy efficiency, roll outs of smart grids, utilities' inclination to mitigate outages, and avoid blackouts are driving the state estimator market.
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The major software used in state estimators is utility state estimation software and power control center software. It has two applications: transmission and distribution. Transmission has got the major share compared to the distribution, as the requirements of the observability are easier to determine the distribution systems.
North America is the largest market for power system state estimators, with continuing upgrades to existing networks. Power system state estimators are witnessing high CAGR in the region, ensuring that it will continue to be the leading market in the near future.
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Power Control Centers are the largest market for power system state estimators by software type, largely due to the strong presence of independent system operators and private utility companies in North America and Europe.
Transmission networks are the biggest market for power system state estimators by application, driven by the need for accurate real-time estimation of bus voltages, which helps enhance the reliability of electric power systems.
The Weighted Least Square (WLS) method dominates the power system state estimators market in terms of solution methods used. It is widely used in transmission networks across the globe, due to its ability to handle regression situations where data points vary in quality.
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