The self-healing grid market is projected to grow at a CAGR of 9.07% from 2017 to 2022. The self-healing grid market is projected to reach USD 2.66 billion by 2022 from an estimated USD 1.72 billion in 2017, at a CAGR of 9.07%, during the forecast period. The government policies and legislative mandates for T&D utilities and complexity in distributed energy generation have boosted the demand for self-healing grid. In addition, the need for protection of electric utilities from cyber attack would further aid the growth of this market. High initial cost of deploying self-healing grid technologies would act as restraint for the self-healing grid market.
‘The hardware segment is expected to grow at the highest CAGR from 2017 to 2022 The hardware segment is expected to be the fastest-growing self-healing grid market, by component, from 2017 to 2022. The growth of the hardware segment can be attributed to increasing deployment of additional hardware components as a part of making smart grid into a self-healing grid. The increasing deployment of hardware component in regions such as North America and Europe is expected to drive this segment of the self-healing grid market during the forecast period.
The public segment is expected to grow at the fastest CAGR from 2017 to 2022. The public utility segment is estimated to be the largest market for self-healing grid in 2017 and is expected to grow at the fastest CAGR during the forecast period. The market for public utility is driven by utilities such as Duke Energy, NextEra Energy, and PG&E. These utilities are involved in the implementation of self-healing grid solutions. Majority of public utilities in countries such as US and India are expected to invest in self-healing grid technology, which will drive the market for public utility.
North America: The largest market for self-healing grid. North America is expected to be the largest market for self-healing grid in 2017, followed by Europe and Asia Pacific. The US is expected to be the largest market for self-healing grid in the region in 2017 owing to increasing investment in the upgrading to advanced T&D infrastructure.
The self-healing grid market is also growing at a good pace in Canada because of the increasing smart grid projects in the country. These factors are expected to boost the growth of the self-healing grid market in North America.
Breakdown of Primaries: In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows: - By Company Type: Tier 1 - 55%, Tier 2 - 25%, Tier 3 - 20% - By Designation: C-Level - 55%, D-Level - 20%, Others - 25% - By Region: Asia Pacific - 25%, North America - 30%, Europe - 35%, and Rest of the World - 10% Note: The tier of the companies has been defined on the basis of their total revenue; as of 2016: Tier 1 = >USD 10 billion, Tier 2 = from USD 1 billion to USD 10 billion, and Tier 3 = Some of the leading players in the self-healing grid market are ABB (Switzerland), Siemens (Germany), GE (US), Eaton (Ireland), and Schneider Electric (France).
Research Coverage: The report defines, describes, and forecasts the global self-healing grid market by component, application, end-user, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges.
Why Buy this Report? 1. The report identifies and addresses key markets for self-healing grid, which would help providers review the growth in the demand for the solutions. 2. The report helps solutions providers understand the pulse of the market and provides insights into drivers, restraints, opportunities, and challenges. 3. The report will help key players understand the strategies of their competitors better and will help in making strategic decisions.
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