Smart Grid Market and Technology Outlook - Industry Trends and Competitive Analysis

Jan. 23, 2012 - PRLog -- Cloud computing has emerged as a potential solution for managing data generated from the advanced metering technology used in smart grids. Issues related to the large-scale, real-time computing, communication, transfer and storage of data generated by smart grid technologies can all be addressed through cloud computing. Cloud computing is a new phenomenon in the field of information technology that will allow utilities to make better use of their storage and processing capacity in smart grids. The need for cloud computing will increase as the deployment of smart meters and intelligent electronic devices increases.

The need to improve power grid security has been a major global concern. Increased use of various technologies, such as advanced storage systems, advanced metering infrastructure and wireless networks, has led to increased concern over the physical and cyber-based security of the smart grid and its components. Security in smart meters is mostly related to the physical design of the meters. However, tamper-proof meters are now available that alert consumers and utilities to interference. Smart meter security is also critical at the consumer end of the process. Various companies and organizations are taking a cue from the NIST guidelines and are likely to release new products and solutions with the aim of improving the security of smart grid applications: Cyber security vendors such as Boeing Corporation, Lockheed Martin, and BAE Systems, for example, provide various security solutions. The increasing focus on cyber security is expected to encourage consumers to use smart grid technologies, by allay their concerns about the security of their data.

Electric Vehicles (EV) require specialized Vehicle-To-Grid (V2G) technologies that are able to allow the bi-directional flow of data and exchange of power between the vehicle and the electric grid. These systems will help to store energy generated from renewable resources that can be sent back to the grid.
With V2G, consumers are allowed to sell the excess stored electricity in their battery, with the price attained being based on the time of day, and quantity required by the utility. These systems are presently not available, as the current infrastructure is incapable of supporting them. V2G products and services are presently in the testing phase, and are expected to be functional by 2012. In the future, many players, such as automobile manufacturers, smart grid integrators and other energy service providers, are expected to participate in the development of this upcoming technology.

For Sample Pages, please click or add the below link to your browser:
http://www.globaldata.com/ReportStore/RequestSamplePages....

GlobalData, the industry analysis specialist, has released its latest research, “Smart Grid Market and Technology Outlook - Industry Trends and Competitive Analysis”, that provides a detailed account of the developments in global smart grid markets in 2010 and their implications for the market in 2011-2016. The report provides information on the current scenario and an outlook on smart grid markets, investments, revenues and the competitive landscape. The report explains the current state of the global smart grid industry in terms of various upcoming technologies such as Vehicle to Grid (V2G), cloud computing, Outage Management Systems (OMS), microgrid and more. The report also discusses various projects, plans and policies related to the installation of smart grids that have initiated by governments around the globe. It provides details about the investment trends of global smart grid technologies, and covers key financing activities such as mergers, acquisitions, partnerships, private equity and venture capital. A section of the report is dedicated to an analysis of the current competitive scenario amongst global vendors of smart grid technologies.

This report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analyses by GlobalData’s team of industry experts.

For further details, please click or add the below link to your browser:
http://www.globaldata.com/ReportStore/Report.aspx?ID=Smar...

Visit our report store: http://www.globaldata.com/reportstore

For more details contact:
pressreleases@globaldata.com
           
North America:    +1 646 395 5477
Europe:        +44 207 753 4299
           +44 1204 543 533
Asia Pacific:       +91 40 6616 6782

# # #

GlobalData is a global market intelligence services company providing information research and analysis products and services.