Skip to main content

Forward-Thinking Utilities Adopt the Internet of Things

Most utility companies have a plan to utilize technologies that are key ingredients of the Internet of Things (IoT). As an example, the Smart Grid Sensor market will expand rapidly in the coming decade, with revenues growing nearly ten-fold, according to the latest worldwide market study by IHS.

IHS forecasts that while the smart grid sensor market only accounted for less than 20 percent of total sensor sales revenues in 2014, they will account for 75 percent of the total sensor market in 2021.

The smart grid sensor market is expected to reach the $100 million mark in 2017. To date, the market for smart grid sensors is centered mainly in North America, where there is a mixture of a few large installations and many smaller pilot projects.

There's a pressing need to monitor the electric grid in real-time, and utilities are expected to gain greater value by installing smart grid sensors, which can potentially improve utility operations and performance.

The United States market is estimated to reach $30 million in 2014 -- however, annual growth from 2015 to 2021 is expected to average 36 percent.


"The United States has been on the forefront of smart grid sensor market development," said Fizza Arshad, analyst at IHS. "Many factors have converged to make this happen, but one of the stronger influences was the American Recovery and Reinvestment Act (ARRA) of 2009."

The ARRA provided the investment needed to install extensive grid distribution-layer communications networks. Having affordable, ubiquitous communications networks is essential to making the smart grid sensor solution come to fruition.

While the current growth is centered in the United States, Europe and Latin America are also forecast to become high-growth markets. In Latin America, utilities are spending time and resources to install pilot programs to aid fault location and theft prevention.

In Europe there is a particularly strong need for renewable energy management. In fact, the influx of energy from solar and wind is creating a large demand for improved electric grid monitoring.

Greater adoption of smart grid sensors across Europe is therefore anticipated, as utilities will need more granular measurements on the electricity grid, in order to efficiently integrate renewables.

Overall, going from pilot programs to large-scale installations will offer more examples of successful deployments that further reveal the benefits to utilities, and thereby enable smart grid sensor technology to scale.

Popular posts from this blog

Software-Defined Infrastructure: The Platform of Choice

As more organizations adapt to a hybrid working model for their distributed workforce, enterprise CIOs and CTOs are tasked with delivering new productivity-enabling applications, while also seeking ways to effectively reduce IT cost, complexity, and risk. Traditional IT hardware infrastructure is evolving to more software-based solutions. The worldwide software-defined infrastructure (SDI) combined software market reached $12.17 billion during 2020 -- that's an increase of 5 percent over 2019, according to the latest market study by International Data Corporation (IDC). The market grew faster than other core IT technologies. The three technology pillars within the SDI market are: software-defined compute (53 percent of market value), software-defined storage controller (36 percent), and software-defined networking (11 percent). "Software-defined infrastructure solutions have long been popular for companies looking to eliminate cost, complexity, and risk within their data cente

Digital Identity Verification Market to Reach $16.7B

As more enterprise organizations embrace the ongoing transition to digital business transformation, CIOs and CTOs are adopting new technologies that enable the secure identification of individuals within their key stakeholder communities. A "digital identity" is a unique representation of a person. It enables individuals to prove their physical identity during transactions. Moreover, a digital identity is a set of validated digital attributes and credentials for online interactions -- similar to a person's identity within the physical world. Individuals can use a 'digital ID' to be verified through an authorized digital channel. Usually issued or regulated by a national ID scheme, a digital identity serves to identify a unique person online or offline. Digital Identity Systems Market Development Complementary to more traditional forms of identification, digital identity verification systems can enhance the authenticity, security, confidentiality, and efficiency of

Global Pandemic Accelerates the Evolution of Transportation

Given the current trends across the globe, organizations that depend upon the continued growth of personal vehicle ownership will need to consider a plan-B scenario. While some companies will be able to adapt, others may find that their traditional business model has been totally disrupted. According to the latest worldwide market study by Juniper Research, Mobility-as-a-Service (MaaS) will displace over 2.2 billion private car journeys by 2025 -- that's rising from 471 million in 2021. Juniper believes that for MaaS to enjoy widespread adoption, subscription or on-the-go packages need to offer a strong combination of transport modes along with feasible infrastructure changes, high potential for data collection and low barriers to MaaS deployments. Mobility-as-a-Service Market Development The concept of MaaS involves the provision of multi-modal end-to-end travel services through a single platform by which users can determine the best route and price according to real-time traffic