The Self-Healing Grid is a system made up of sensors, automatic controls, and sophisticated software that uses real-time distribution data to detect and isolate problems, as well as reorganise the distribution network to reduce the number of consumers affected. The need for self-healing grid has increased as a result of government regulations and legal obligations for T&D utilities, as well as the complexity of distributed energy generation. Furthermore, the necessity to defend power utilities from cyber-attacks will help the market's expansion. The high initial cost of installing self-healing grid technology will be a stumbling block for the industry.
By component, the hardware segment is expected to grow at the fastest rate during 2017-2022. As part of the drive to make smart self-healing grid, installation of additional hardware components contributed to the evolution of the hardware segment.
Since the detrimental worldwide effects of the coronavirus are already present, the Self-Healing Grid market is expected to expand at a stable rate through 2020. However, in the post-COVID-19 period, the market is anticipated to expand quickly. Furthermore, the high costs of installation and maintenance of these devices may limit the revenue growth of the worldwide Self-Healing Grid market throughout the forecast period.
Objectives of study:
Tracking and analysing competitive changes in the market, such as contracts and agreements, investments and expansions, new product innovations, and mergers and acquisitions.
On the basis of component, application, end-user, and region, define, characterise, segment, and predict the worldwide self-healing grid market.
To offer thorough information on the key variables driving the market's growth (drivers, restraints, opportunities, and industry-specific challenges).
To conduct a strategic analysis of the market in terms of individual growth patterns and market contributions from each category.
To offer information about the competitive landscape for firms in this industry and to assess market potential for stakeholders.
To develop a strategic profile of major companies and conduct a thorough analysis of their market shares.
