Outlook of the global water quality monitoring equipment market
Technavio’s market research analyst predicts the global water quality monitoring equipment market to grow steadily at a CAGR of above 6% by 2021. The increasing demand for wastewater treatment has been one of the primary drivers contributing to the growth of the water quality monitoring equipment market. The growing rate of urbanization has put pressure on the water infrastructure, as several cities in the developing countries do not have the necessary set-up in place to collect or treat wastewater. Due to the absence of a required infrastructure such as drainage systems, the sewage waste mixes with storm water, thereby polluting the water. In such cases, the water quality monitoring equipment helps to test the level of contaminants present in water. Also, it helps in gaining vital information which can be used to infer which water treatment process should be followed to ensure the supply of potable and high-quality water.
One of the latest trends gaining traction in this market is the adoption of smart water networks. Smart water network enables utilities to control the entire system through sensors networks and geographic information systems (GIS). This enables utilities to monitor and evaluate the water flow that can lead to a better decision-making for developing sustainable management of resources. A smart water network has distinct layers, which can perform designated functions by interacting with the adjacent layers. Moreover, the adoption of smart water network reduces the operational cost by real-time monitoring of the water network and automatic redirection of water for more efficient and effective water flow processes.
Competitive landscape and key vendors
At present, the water quality monitoring equipment market is highly competitive. The key factors responsible for this competition are on the
Overview of the global intelligent remote terminal unit (RTU) market
Technavio’s market research analyst predicts the global intelligent remote terminal unit (RTU) market to grow at a CAGR of around 7% between 2017 and 2021. The high demand for energy and rising focus on energy efficiency are driving the need for data analysis and monitoring of grids, which has subsequently led to the installation of intelligent RTUs. RTUs provide real-time data that help in executing necessary actions to ensure that the power outage is eliminated, stop the leaks in the water line, or avoid any breakage in the pipeline used to transport oil and gas. RTUs have enabled substation automation and voltage regulation, and with the increased adoption of smart grid technology across the globe, it becomes crucial to upgrade such devices. The implementation of RTUs helps better monitoring of the current flow and control of remotely located devices. They provide the operators situational awareness through real-time monitoring and make immediate changes in the grid. The modernization of the grid has led to the creation of innovative technologies for controlling the grid, which is likely to have a positive impact on the growth of the global intelligent RTU market in the coming years.
The growing focus on saving has propelled several water utilities to adopt smart water network systems, which is driving the implementation of intelligent RTU. Through a smart water network infrastructure, utilities can potentially save up to 7% of the capital expenditure and operational expenditure annually
Overview of the global automatic generation control (AGC) market
Market research analysts at Technavio predict that the global automatic generation control market will grow steadily during the next four years and will post a CAGR of almost 3% by 2020. This market research analysis identifies the changes in grid structure that drive the demand for IT implementation as one of the primary growth factors for the power generation control market. Utilities and energy companies are constantly making changes to the functioning of the grid to accommodate power generation resources such as fossil fuel. To improve each part of the value chain, companies have started focusing on implementing new IT technologies. These IT systems help in transforming the grid to accommodate low carbon polluting technologies, in turn, making power generation multi-dimensional. This will increase the complexities of grid operation and will lead to the adoption of power management systems such as AGC which allows the seamless integration of power generation resources and services.
The rise in integration of power resources will be one of the major trends that will gain traction in this market. Realizing the need to reduce GHG emissions, countries around the globe have started reducing their dependency on fossil fuel and started focusing on cleaner fuel sources such as nuclear and renewable energy. This addition of new resources will make electrical grids more complex and multidimensional. And as a result, companies will start using power control systems such as AGC which help in ensuring the stability of power grids.
Competitive landscape and key vendors
Characterized by the presence of
Global outlook of the energy management systems market
Technavio’s market research analysts have predicted that the global energy management systems market will grow impressively during the next four years and will post a CAGR of almost 17% by 2020. The increasing need for reducing carbon emission levels has induced utilities and energy companies to change the functioning of the grid by implementing new IT technology in every part of the value chain. This industry research report identifies this change in grid structure to be one of the major factors that will have a positive impact on the growth of this market in the coming years. IT systems help in transforming the grid by integrating several low carbon polluting technologies such as renewable energy, distribution generation, and energy storage for power generation. Though beneficial, these technologies make grid operations more complex, in turn, driving the demand for energy management solutions. These systems facilitate seamless integration of power generation resources and also offer services such as load forecasting, data analytics, state estimation, and fault calculation. This enables utilities companies to generate the required power to meet the peak hour demand and also helps in minimizing excess power generation.
Owing to high energy costs, the construction industry across the world is investing in adopting energy efficiency solutions. Since green energy systems increase efficiency and reduce the impact of production and manufacturing processes on surroundings, there is an increasing adoption of
Overview of the global smart grid cyber security market
Market research analysts at Technavio have predicted that the global smart grid cyber security market will grow steadily at a CAGR of almost 10% by 2020. Smart grids are an integration of the traditional grid with the IT systems. They offer grid operators greater control of the functions of the grid for improving the reliability with enhanced monitoring and efficiency through information exchange. Composed of various integrations of information technology (IT) and operation technology (OT) systems to manage different functions, smart grid offers various access points for adversaries to breach the security systems. For instance, a few years ago, adversaries took control of the programmable logic controllers that control the centrifuges used to enrich uranium in Iran. They were then reprogrammed to speed up, damaging several of them, whereas the control system displayed that the equipment was operating under normal conditions. Though the integration of IT and OT systems offers several benefits such as remote monitoring and automation of controls across various geographical locations, it also opens up new vulnerabilities for attacks. This in turn, will be one of the major factors that will fuel the demand for the smart grid security systems market during the forecast period.
This market research and analysis identifies that the adoption of cloud-based applications will be one of the major trends that will gain traction in this market in the coming years. Cloud-based smart grid applications offer organizations several features to reduce operational costs and also to
Global outlook of the generation management systems market
The deregulation of the power market has structurally changed the power sector. Electric deregulation is the process of changing rules and regulations that control the electric industry so plant operators can improve the efficiency of the plants and provide reliable service to their customers. This process has led to intense competition and to stay ahead in the race, utilities are adopting generation management systems that provide solutions for day to day operations. In addition, these systems gather data from different departments in the electric industry to optimize the power generation resources and provide continuous power to their consumers, while keeping the prices of electricity low. Generation management system gathers critical data from all verticals to provide the operators with enough information, which results in the efficient running of the power plant and reduction of maintenance costs. Hence, the electric industries are adopting dedicated generation management systems to focus on plant and system reliability improvements. According to the market research analysts at Technavio, the global generation management systems market is anticipated to witness steady growth and will post a CAGR of more than 3% over the forecast period.
An important trend spurring the growth prospects for this market is the decreasing use of fossil fuel as it is one of the major contributors to emissions. Governments, globally, are compelled to focus on clean fuels like nuclear and renewables that reduce the toxic emissions, significantly. This approach is being supported by the governments with the aid of lucrative policies, incentives, and rebates. Over the years, the share of renewable and alternate sources of energy has risen to a great extent due to the investments flowing from the US, China, and the EU.
Smart grid refers to the modernization of the power grid, using the latest digital technology, which helps utilities minimize transmission and distribution losses, improve power system efficiency, and optimize available energy resources.
The main components of smart grid technology are advanced metering infrastructure, data management software, and communication networks. Both developed and developing economies are investing heavily in and allocating funds to smart grid technologies.
Additionally, utilities are implementing robust security solutions to mitigate the threat of cyberattacks and curb concerns related to the security of smart grids.
Smart grid companies such as Siemens, Alstom, and ABB have a significant presence in this industry and these companies are expected to focus on developing innovative smart grid applications in the future.