Global Opportunity Analysis for Smart Grid Conducted by GlobalData

By Calvin Azuri, TMCnet Contributor

Utility companies have universally accepted the need for smart grids. As the demand for electricity increases, the shortfall of supply is addressed by a smart grid. To meet the demands, companies cannot simply directly increase their output. Energy is provided more efficiently if intelligence is built into the electrical grid network.

Allocation of the supply in a smarter and more efficient manner is needed. Utility companies can therefore better manage their energy with smart meters. The need for investment in new generating capacity can then also be reduced.

Utility companies can store and analyze the energy usage data collected from customers with meter data management, or MDM. Companies need to install advanced meters for MDM and will then be provided storage for the large number of meter readings that are collected from these meters every year. Utility companies will have to invest in MDM systems. These will be used for storing and analyzing large amounts of data.

Two-way communication is the basic function of the advanced meters. The meter data can be read by the utility companies remotely. The meters can also be used to control the usage of the customers. Through LAN and WAN, the data is collected from the advanced meters. Utility companies will, however, have to pay usage and maintenance charges. This will be for the data transmission through these networks and getting meter interval data. Investment for advanced metering infrastructure and communication infrastructure is therefore necessary for remote meter reading.

In-depth analysis of the opportunities in the global advanced metering infrastructure market was provided by the report, “Advanced Metering Infrastructure (AMI): Smart Grid Global Opportunity Analysis” from GlobalData. The key drivers and restraints that will impact different market segments within Advanced Metering Infrastructure are provided by the report. Market size, forecasts and cost analysis by region and for top 10 key countries in the world are also included in the report.

The initiatives and support provided by the government are primarily driving the advanced metering infrastructure market. The initiatives and support are in the form of research and development of smart grid technologies. During 2010-2013, the region is expected to exhibit high growth.

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(source: http://smart-grid.tmcnet.com/topics/smart-grid/articles/105210-global-opportunity-analysis-smart-grid-conducted-globaldata.htm)