Pune, Maharashtra -- (SBWIRE) -- 05/10/2018 -- A smart grid is a modern power generation, transmission and distribution system that can automate and manage the increasing complexity and needs of electricity in the 21st century. The technology aims to integrate and support renewable energy sources like solar, wind and hydro thereby empowering consumers with real-time information about their energy consumption and assist utility companies to reduce outages. Smart grids Market are essentially intelligent appliances that are capable of deciding when to consume power based on the pre-set user preferences. There are also smart substations that control critical and non-critical operational data, such as power factor performance, breaker, and battery and transformer status. The United States Smart Grid IT Systems Market was valued at US$ 3857.0 Mn in 2017 and is expected to reach US$ 9228.0 Mn by 2022.

A smart grid, or intelligent power system, refers to a power system that makes extensive use of digitalization. Smart grids enable customers' increased participation in the electricity market and improve power adequacy and create new business opportunities for companies. Consumers in U.S are expressing an interest in increasing their communication with their utility provider as a means of obtaining greater levels of control. Government support has been instrumental in the rapid forward movement of United States smart grid IT systems market. It has provided necessary funding as well as education on the value it will have to individuals, the energy industry and the nation by reducing U.S. dependence on foreign oil and allowing us to better manage the country's long-term energy needs.

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Advanced Metering Infrastructure(AMI) Anticipated to be the Dominant Segments During the Forecast Period, 2018-2026
Among the software, advanced metering infrastructure is a dominant segment holding the largest market share. It empowers customers and utilities with real Time information regarding energy use. It is a key element in the U.S. government's push for electric grid modernization.

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Government Intervention in Smart Grid IT Systems to drive the Market in California
California regulatory agencies such as the California Public Utility Commission (CPUC) and state energy policy and planning agencies such as the California Energy Commission (CEC) are continuing to launch a broad range of smart grid initiatives. Government objectives is aimed to increase use of cost-effective digital information and control technology to improve reliability, security, and efficiency of the electric grid.
United States Smart grid IT Systems Market is Fragmented in Nature

Some of the key participants in U.S. market are Green Charge Networks, Bit Stew, Duke Energy, Enbala Power Networks, Enphase, Florida Power & Light, Green Charge Networks, Greensmith Energy Management Systems, Gridco Systems, New Brunswick Power Corporation, NRG Home, Opower, S&C Electric Company, Sacramento Municipal Utility District, Schneider Electric, SolarCity, Stem, Sunverge Energy Inc., Tendril. IN 2017, FPL became the first utility in the industry to tackle momentary power outages that last less than one minute. These outages cost industrial, commercial and residential customers billions of dollars each year. By rolling out more than 80,000 TripSaver II lateral reclosers from S&C Electric Co. across FPL territory, S&C estimates that, according to government data, electricity users may save up to $500,000 per year on each main feeder.

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- Smart Grid IT Systems Market – By Software
o Advance Metering Infrastructure (AMI)
o Smart Grid Distribution Management
o Smart Grid Communication
o Grid Asset Management
o Substation Automation
o Billing and Customer Information System

- Smart Grid IT Systems Market – By Hardware
o AMI meter
o Sensors
o Networking hardware
o Programmable Logic Controller (PLC)

- Market By Service
o Consulting
o Deployment and integration
o Support and maintenance

- Market By Region
o North America
o Europe
o Asia Pacific
o Middle East and Africa
o Latin America