BOULDER, Colo.--(BUSINESS WIRE)--A new report from Navigant Research analyzes the technologies and strategies capable of enhancing sensing and measurement for transmission and distribution (T&D) networks, providing global market forecasts for eight equipment categories, segmented by technology category and region, through 2026.
During the next decade, utilities worldwide will undertake significant investments in automation and monitoring solutions in substations, T&D lines, transformers, and more as they look to upgrade and replace aging infrastructure. Driven by increasing demands for distributed generation, such as wind and solar, and coupled with pressure from regulators and customers for enhanced grid intelligence, T&D sensing and measurement (TDSM) devices are likely to have a significant role in paving the way toward a more advanced, self-monitoring, and self-healing electric grid. Click to tweet: According to a new report from @NavigantRSRCH, global revenue for TDSM technology is expected to reach $4.8 billion by 2026.
“The power industry is in the early stages of a radical paradigm shift that will see the traditional one-way system of towers and lines connecting a power plant to an electric customer transform into a complex network characterized by bidirectional power flow, pervasive communications, and high levels of automation,” says Michael Hartnack, research analyst at Navigant Research. “As the grid becomes more diverse, a sophisticated system of sensing, measurement, condition monitoring, and asset management solutions must be deployed.”
According to the report, as the cost of sensors and connectivity falls, utilities are expected to deploy TDSM systems farther and faster than ever before. An advanced sensor, paired with real-time communications and analysis, provides a utility with vital system health information and tools for monitoring asset functionality, assessing safety risks, and preventing extended network interruptions.
The report, T&D Sensing and Measurement Market Overview, examines the technologies and strategies being adopted to enhance sensing and measurement capabilities on T&D networks. The study provides an analysis of the market issues, including drivers and barriers, associated with TDSM solutions. Global market forecasts for eight TDSM equipment categories, segmented by technology category and region, extend through 2026. The report also examines the key technologies related to sensing and measurement hardware and software in the global T&D market, as well as the competitive landscape. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Energy Technologies, Utility Transformations, Transportation Efficiencies, and Buildings Innovations sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant Consulting, Inc. is a specialized, global professional services firm that helps clients take control of their future. Navigant’s professionals apply deep industry knowledge, substantive technical expertise, and an enterprising approach to help clients build, manage and/or protect their business interests. With a focus on markets and clients facing transformational change and significant regulatory or legal pressures, the Firm primarily serves clients in the healthcare, energy and financial services industries. Across a range of advisory, consulting, outsourcing, and technology/analytics services, Navigant’s practitioners bring sharp insight that pinpoints opportunities and delivers powerful results. More information about Navigant can be found at navigant.com.
* The information contained in this press release concerning the report, T&D Sensing and Measurement Market Overview, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.