Smart Grid: Digital Electricity Network Connected using IOT Devices

The smart meters were introduced with the aim of replacing the limitations of age old electrical grids by controlling power peaks and distribute the energy cost burden fairly among consumers. Additionally, growing concerns of environmental damage due to fossil-fired power stations have led to increased support for renewable energy. But, its growing forms including wind power and solar power are highly variable. Hence, there is a growing need for more complex and mature control systems to replace the traditional ones.

Large centralized power stations have also become inefficient and there is a growing move toward a more decentralized model of power distribution. Moreover, growing concern of security and vulnerable positions of power stations make them a high priority target. 

Many governments globally have been boosting the deployment of smart meters and grids due to rising concerns of global warming. Smart grids are expected to control and deal with global warming through more responsive mechanisms and contributing heavily to an energy independent future. 

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Advanced smart grid systems integrate the following features:

The technology has self-repairment mechanisms.

It is more democratic in nature and provides space for consumer participation in grid operations.

It ensures reliability and consistency in power supply through reduction in power leakages. The transparent nature and self-repairing mechanism allow smart grids to achieve this.  

It creates opportunities for electricity makers to grow and reach new consumers. The smart grid technology is expected to make new forays into various industries through cost-savings advantages.  

It is expected to provide a smooth and secure flow of electricity to industries in the near future.

Global Smart Water Grid Market: Overview  

Smart Water Grid (SWG) is a two-way water distribution network, which involves intelligent monitoring and response systems relying on real time information, sensors and IOT technology driven devices. These devices include the likes of smart water meters, which are used for monitoring water pressure, quality, temperature, flow, etc. Smart water grid market is increasingly playing an important role in water management systems globally. 

Global Smart Water Grid Market: Key Trends

The decreasing water supply across the globe and increasing need for conservation, makes smart water grid an essential need for public entities such as municipalities. On the other hand, smart water grid are useful for private entities which have a large water distribution network and require maximum efficiency in managing these widespread resources. Management of water distribution networks can be complex and failure to do so actively, can result in various unintended disruptions and severe consequences. Hence, companies based in sectors such as agriculture find SWG systems an integral part of their water management systems.

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Smart water grid market also faces considerable challenges during the forecast period. Currently, the SWG systems are often availed by large scale private and public entities, which find its use essential. However, the SWG system face considerable challenges while breaking into small-scale water distribution systems as the capital costs and initial funding is difficult ceiling to break. With the growing awareness of water conservation and increasing subsidies in the area, can prove to be a positive solution to the current challenge.