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Automatic Generation Control - Market Drivers and Forecasts, Reports TechnavioTechnavio analysts forecast the global automatic generation control (AGC) market to grow at a CAGR of more than 3% during the forecast period, according to their latest report. The research study covers the present scenario and growth prospects of the global AGC market for 2016-2020. The report discusses the major drivers influencing the market growth and the challenges faced by vendors and the market as a whole. The growing competition in the power sector and need for optimization of utility resources are the major drivers for the global AGC market. This system is employed to improve services and power quality delivered to the customers. AGC enables efficient management of assets; therefore, vendors are providing it as part of the energy management system (EMS). The rise in cross-border electricity interconnection in Europe is expected to drive the market growth, as AGC systems automatically adjust the load and frequency, and maintain the grid stability in European countries. In addition, growing implementation of smart grids in APAC and MEA will drive the demand for EMS, which will fuel the growth of the global AGC market during the forecast period. Request a sample report: http://www.technavio.com/request-a-sample?report=53727 Technavio's sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more. Technavio energy analysts highlight the following three factors that are contributing to the growth of the global AGC market:
Changes in grid structure drive demand for IT implementation The resources used for power generation has evolved from fossil fuels to low carbon or no carbon fuels. Utilities and energy companies are making changes to the functioning of the grid to accommodate these fuels. Traditional ower grids had linear power generation, partial interaction with customers, and one-way communication; however, energy and utility companies are improving each part of the value chain by implementing new IT technologies. Thanikachalam Chandrasekaran, a lead smart grid analyst at Technavio, says, "IT systems help in collaborating and transforming the grid to accommodate low carbon polluting technologies such as renewable resources, distribution generation, and energy storage, thus making power generation multi-dimensional." "The additions of various sources of power generation have increased the complexities of grid operation, making it necessary for utilities to use power management systems such as AGC," adds Thanikachalam. Increase in investments in smart grid technologies The growth in global population has triggered an increased demand for electricity. Transmission and distribution losses, rise in demand for power, and the demand-supply mismatch are leading to global power crisis. To overcome this challenge, countries such as the US, China, India, and the UK have started adopting smart grid technologies such as phasor measurement units, RTU's IED, and smart meters. The shift to smart technologies will enable the grid operators to gain additional visibility to the functioning of each asset in the field, identifying the problem area, and carrying out timely maintenance. This improves efficiency and effectively balances the demand and supply of electricity. Deregulation of power market The electrical grid is a complex and dynamic system, as it involves various activities such as power generation, transmission, and distribution. Earlier, the whole grid was largely owned and managed by a single entity; however, the power system changed drastically due to the deregulation that started in Europe and the US since the 1990s. The deregulation gave rise to generation companies, distribution companies, transmission companies and independent system operators where in each activity was treated separately. The changes in the power industry motivated utilities to specialize in either power generation, transmission, or distribution. The rise in competition led to the adoption of control systems such as EMS; this improves the services and power quality delivered to customers and enables utilities to stay ahead of the competition. The deregulation also brought in independent producers into the power market. This led to the integration of several utilities through tie-lines, wherein they can exchange power to meet the respective load requirements in case of power shortage. Top vendors: Browse Related Reports:
Do you need a report on a market in a specific geographical cluster or country but can't find what you're looking for? Don't worry, Technavio also takes client requests. Please contact [email protected] with your requirements and our analysts will be happy to create a customized report just for you. About Technavio Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies. Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users. If you are interested in more information, please contact our media team at [email protected].
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