SMART GRIDS
TECHNOLOGY
Agency ( IRENA ), the proliferation of smart grids will only continue at a faster pace . With the technology connecting utilities and consumers , digital is enabling energy grids to better respond to electricity demand . Smart grids are designed to transmit electricity more efficiently , reduce costs , lower peak demand , restore power quicker in the event of disturbances , better integrate renewable projects , and have heightened security .
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SMART GRIDS
By 2025 , the smart grid industry is anticipated to be the largest emerging market , according to the Global Smart Grid Market study released by Big Market Research . The industry was worth US $ 66.96bn in 2017 and is expected to be worth $ 169.19bn by 2025 , growing at a compound annual growth rate ( CAGR ) of 12.4 % between the two periods , Allied Market Research claims . Despite North America contributing the most to the market in 2017 , the APAC region is expected to grow at the highest speed , with its CAGR set to reach 13.9 % in the review period . Companies such as Wipro Limited , Cisco
AUGUST 2019