Self Healing Grid Market Size and Growth to 2026 | Key Players | Regional Analysis



Self Healing Grid: 

The self-healing grid is a system of sensors, automatic controls, and smart software that uses real-time distribution data to detect and isolate failures and reorganize the distribution network to limit the number of customers affected. Improved system dependability is one of the key objectives of a self-healing grid. This can be performed by reprogramming the distribution feeder's switches and reclosers. This is done to swiftly isolate the feeder's faulty area and restore service to as many consumers as possible using alternate sources/feeders.


Market Growth:

The Self Healing Grid Market was worth USD 1.98 billion in 2018 and is expected to reach USD 3.66 billion by 2026, with a CAGR of 9.10 per cent from 2019 to 2026.


The growing need to replace obsolete power distribution systems and increased government investments in smart energy infrastructure such as smart grids are generating a profitable market for self-healing grids. Furthermore, the growing necessity to defend electrical utilities from cyber-attacks resulting from smart grid deployment is likely to propel the market even higher.


Due to ongoing technical innovation in the energy sector combined with rising power consumption, the self-healing grid market is likely to see many developments over the forecast period. Multinationals and well-established corporations are also likely to invest heavily in the industry. In addition, several contracts and agreements between major EPCs and the government are predicted to be signed over the projected period, indicating that mergers and acquisitions will be prevalent.


Market Segmentation:

The worldwide Self Healing Grid Market may be segmented into transmission lines and distribution lines based on application. During the projected period, the transmission lines segment is expected to grow at a faster rate.


The market can be divided into two categories based on components: software and services and hardware. However, due to the increased installation of many hardware components to create self-healing smart grids, hardware was a rapidly increasing segment in 2020.


The market can be divided into private utility and public utility based on end-use. However, because most public utilities in countries like India and the United States are likely to invest in self-healing grid technology, the public utility segment is expected to soon account for a significant portion of the market.


Regional Analysis: 

Because of the increased emphasis on grid modernization, North America is the dominant region in the Self Healing Grid Market. Because of increased investment in gridding technology, the United States is expected to be the leading country in the self-healing grid industry in North America. The market in Canada has been growing as the country's smart grid projects have increased. The market in North America is expected to be pushed even farther by implementing a strict government regulatory framework.


Key Players:

General Electric Company, ABB Ltd., Siemens AG, Schneider Electric, Itron, Inc., Aclara Technologies LLC, Cisco Systems, Inc., Open Systems International, Inc., International Business Machines Corporation, Wipro Limited, and Oracle Corporation are the major key players of Self Healing Grid Market.

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