The ongoing global and regional efforts to decentralize and decarbonize the energy industry result in an increasingly digitized network that will be a more interconnected, intelligent, and responsive energy infrastructure continuously generating substantial amounts of data.
New York, Aug. 04, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Digital Grid Guidebook" - https://www.reportlinker.com/p06312010/?utm_source=GNW
However, the industry historically lacks innovative technologies and operational tools that leverage these growing volumes of data to generate real-time insights to drive real value for energy utilities and grid operators.
Within this context, utilities across the globe are seeking advanced solutions that enable smart monitoring, visualization, and analysis of energy distribution networks, empowering them to enhance power quality while addressing prevalent energy equality challenges.As a result, there is a growing market need for grid optimization solutions.
Despite potential growth opportunities, critical factors, including subsequent COVID-19 waves and the associated decline in revenue, lack of return-on-investment evidence for digital solutions, value-creation uncertainty, and overlapping functionalities of several solutions, are restraining the widespread adoption of digital solutions.This research initiated by Frost and Sullivan helps decision makers within the utility sector to overcome the critical issues they face by evaluating the ecosystem of digital transformation solution providers.
Using industry expert dialogues and decision support matrices, The analyst has identified the top 50 digital practitioners across the grid space within the grid industry. A detailed discussion covers industry innovations and trends with implications for the near future. The study offers the digital solution details of 50 companies and the critical customer issues these solutions address with the justification of why each company is a digital best practitioner. The analyst defines the digital grid market as a suite of digital solutions (software, life cycle services, and associated hardware components) that drive business innovation and operational transformation across the power distribution industry. These solutions can focus on a specific value chain function or span the end-to-end value chain from conceptualization, remote asset monitoring, fault detection, analytics-based insights, predictive maintenance, digital twin, and other life cycle management solutions. The analyst estimates value generated by grid optimization digital solutions will reach $22.27 billion in 2025.
Read the full report: https://www.reportlinker.com/p06312010/?utm_source=GNW
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