Utilities/Smart Grid

The global market for smart grid tech is estimated to grow from $36.9 billion in 2021 to $55.9 billion by 2026, at a compound annual growth rate (CAGR) of 8.7% during the forecast period of 2021-2026.  The North American market for smart grid technology is estimated to grow from $12.2 billion in 2021 to $16.2 billion by 2026, at a CAGR of 5.8% during the forecast period of 2021-2026.The Asia-Pacific market for smart grid technology is estimated to grow from $9.5 billion in 2021 to $16.8 billion by 2026, at a CAGR of 12.0% during the forecast period of 2021-2026.  Behind these numbers is an industry still hampered with the failure of the smart meter revolution because of network limitations that restrict the amount and quality of the data produced by the meter.

For instance, out in California where limited meter reading collection on a network of 10 million meters and other PG&E assets is an ongoing consumer/company safety issue.  This is occurring along with similar recent electric grid failures in Texas where there are some 7 million meters and other grid assets (plants, stations/substations, renewable resources, transmission, distribution systems).  This is an industry hampered with SCADA systems collections failures so that every time you talk to a grid official, they tell you that they want to be able to operate as if they are within the fence.  Translation their field assets are surrounded by fences and due to SCADA reporting failures, they no longer feel in control of their assets unless they are locally there.    

Target: 17 million meters transmitting one signal plus Utility field assets, e.g., stations/substations, transmission systems.