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Smart Grid Communication Node Market to Undertake Strapping Growth by the End 2023
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The adoption of smart grid communication nodes is increasing rapidly worldwide.The market for smart grid communication nodes has expanded colossally since its inception. North America and Europe have matured smart grid communication nodes markets. Asia Pacific has a huge potential market for smart grid communication nodes and is growing significantly.
The global smart grid communication nodes market is commonly segmented on the basis of technology and geography. There are primarily two main modes of smart grid communication nodes including wireless and wired (fixed) communication nodes. Wireless communication nodes are more practical and feasible over wired communication nodes. Wired communication nodes needs more infrastructure and thus cover a smaller area as compared to wireless communication nodes. Europe and North America are the matured markets of the smart grid communication nodes. Countries such as the U.S, U.K, Germany and France have the major chunk of the global market share. Asia Pacific is likely to pose one of the lucrative markets for smart grid communication nodes. Japan, South Korea and China are some of the major players in Asia Pacific. Countries such as China and India are likely to witness substantial demand in the foreseeable years and are expanding constantly.
The rising demand for uninterrupted power supply and streamlining communications between power suppliers and consumers have equally bolstered the demand for smart grid communication nodes.Smart grid communication nodes assist in the reduction of technical and commercial losses. They also abet in the real-time monitoring of systems and communicating the feedback. All these factors have attributed to the overall demand of the smart grid communication nodes market. Operational errors are also reduced due to the usage of communication nodes.
However, high installation costs could impede the growth of smart grid communication nodes market. New technological advancements such as RF mesh, point-to-multipoint,Worldwide Interoperability for Microwave Access (WiMAX), and LTE will further boost the smart grid communication nodes market. Long term profits will also bring new opportunities to the smart grid communication nodes market.
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Some of the key players in the global smart fault detection system for electricity transmission market include ABB Ltd.,ETap Inc., Metrycom Communication Ltd., Osisoft LLC, Southern States LLC, Sensus, Viola Systems, Tropos Networks Inc. and Trilliant Inc.
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