Making Grid Digital
In the coming years, the Internet of Things (IoT) is poised to make smart grids even smarter. The electricity delivery system proves to be a grid in continuous transition from a demand driven to a bidirectional energy system.
Smart Grids will boost efficiency of utilities
There are the two aspects with smart grids that are changing the industry. India is definitely moving towards implementing a smart and sustainable system. I want you to see smart grids in terms of their application in the Internet of things (IoT) technology.
The global IoT in energy market is expected to reach 265 billion by 2023 Research Nester
Furthermore, high cost of internet of things devices and software is one of the major reasons which are hampering the growth of IoT in energy sector. The global IoT in energy market reached $6.8 billion in 2015 and the market is expected to reach $26.5 billion by 2023. Further the market is projected to register a CAGR of 15.5 per cent during the forecast period 2016-2023 globally. The IoT comprises devices and software that enable connectivity and exchange of information.
Foreign shopping to widen market
Pumps are a common and important component in almost all industrial segments across the world. The most commonly and widely used pumps are the centrifugal pumps or the water pumps, of which the agricultural segment in India are the largest consumers
Switchgears on upswing
The demand for electricity is ever increasing in India. urbanisation, infrastructure additions, growth in real estate, and of course the rural electrification project is spiralling the electricity demand.
The Powerful backup
24x7 power supply is a rarity in India. There are very few places in the country that can boast of having continuous supply of power. All this has resulted in growth of inverters, UPS and DG sets, fondly called the ´power backup´ industry.
It gains ground in new renew devices
The emergence of distributed generation and isolated micro grids are creating the need for new systems and processes in IT and smart devices for ensuring higher efficiencies.
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