Self-Healing Grid Market Share Growing Rapidly with Development, Recent Trends, Revenue and Forecast to 2026 | General Electric Company, ABB Ltd., Siemens AG and Schneider Electric.
The Self-Healing Grid is a system made up of sensors, automatic controls, and sophisticated software that uses real-time distribution data to detect and isolate problems, as well as reorganise the distribution network to reduce the number of consumers affected. The need for self-healing grid has increased as a result of government regulations and legal obligations for T&D utilities, as well as the complexity of distributed energy generation. Furthermore, the necessity to defend power utilities from cyber-attacks will help the market's expansion. The high initial cost of installing self-healing grid technology will be a stumbling block for the industry. By component, the hardware segment is expected to grow at the fastest rate during 2017-2022. As part of the drive to make smart self-healing grid, installation of additional hardware components contributed to the evolution of the hardware segment. Since the detrimental worldwide effects of the coronavirus are already present, the...