Smart grid refers to a grid system in which all the elements involved are integrated to improve the efficiency, reliability, and safety of the electrical grid. Built on advanced infrastructure, global smart grid communication nodes market with renewable and non-renewable energy sources, communication networks, and automated control. The most vital advantage of a smart grid lies in managing the electricity demand in a reliable, sustainable, and economic manner.
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Communication is an intrinsic component of smart grid infrastructure for real-time operations. So much so that a robust communication system is the basis of an improved smart grid infrastructure. In smart grids, communication nodes are the redistribution points for transmission of communication signals within the smart grid network. However, maintaining the type and technology requirement of smart grid communication is important for optimal performance output. In a smart grid, it is the communication of data, voice, and numbers that takes place for real-time transfer of information.
Use of Smart Grid Communication Nodes Reduces Electrical Grid Redundancies
Worldwide, the adoption of smart grid communication nodes is on the rise. The increasing demand for uninterrupted power supply and need for streamlining communication between consumers and power suppliers is bolstering the demand for smart grid communication nodes. In addition, the adoption of smart grid communication node helps prevent technical and commercial redundancies, supports real-time system monitoring, and enables communication of feedback. These factors are collectively contributing to the growth of the smart grid communication nodes market. Last but not the least, operational errors are considerably reduced when communication nodes are used, thereby leading to improved overall process efficiency.
However, high installation cost of smart grid communication nodes is challenging the growth of this market. To counter this, communication nodes such as RF mesh, Worldwide Interoperability for Microwave Access (WiMAX), point-to-multipoint, and LTE, which are developed using newer technologies are slated to be economically sustainable, thereby benefitting the global smart grid communication nodes market.
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Segmentation of Smart Grid Communication Node Market: an Overview
The smart grid communication nodes market is segmented on the basis of technology and geography. By technology, wired (fixed) and wireless are the segments of the smart grid communication nodes market. Of the two, wireless communication nodes are preferred over wired communication nodes, thanks to the latter utilizing more infrastructure to cover a relatively smaller area than wireless nodes for communication.
By geography, North America, Europe, Latin America, Asia Pacific, and the Middle East and Africa are the regional segments of the smart grid communication nodes market. Amongst all, North America and Europe are mature markets for smart grid communication nodes, with countries such as the U.S., Germany, the U.K., and France contributing large amounts of revenue to the regional markets of North America and Europe.
In the coming years, Asia Pacific will emerge as a lucrative market for smart grid communication nodes. Currently, Japan, China, and South Korea account for the majority of the demand for smart grid communication nodes in Asia Pacific. In China and India, economic growth and other factors favorable for the adoption smart grid communication nodes will lead to substantial demand for these components in the next few years.
Some of the major companies operating in the global market for smart grid communication nodes are ABB Ltd., Metrycom Communication Ltd., southern States LLC, Viola Systems, Trilliant Inc., ETap Inc., Osisoft LLC, Sensus, and Tropos Networks Inc.
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