Grid Optimization Solution Market to rise at CAGR of 11% through 2027 – Report by Market Research Future (MRFR)


New York, July 26, 2021 (GLOBE NEWSWIRE) — Grid Optimization Solution Market Overview: According to a comprehensive research report by Market Research Future (MRFR), Grid Optimization Solution Market Research Report, Type, Application and Region – Forecast till 2027″ the market size is projected to grow at a rate of ~11% during the forecast period 2021-2027.

Increasing need for energy efficiency

Power demand has increased in line with the world economy, and it is anticipated that global energy demand will increase by 2030. Energy shortage is becoming a concern for companies, and as a result, every organization is attempting to overcome the energy shortage crisis.

Energy efficiency is one of the most effective strategies to reduce energy consumption since it is more lucrative than collecting more power from reserve plants or investing in the building of newer power sources. Grid efficiency can be increased by optimizing system performance and maximizing asset utilization.

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Key Players

The key players active in the global grid optimization solution market are-

  • Hitachi ABB Power Grid
  • Hubbell
  • Eaton Corporation GE
  • FirstEnergy
  • Green Mountain Power
  • Doble Engineering Company
  • Énergir Limited Partnership
  • EKM Metering
  • CGI Group

Competitive Landscape

Many key competitors, like Hitachi ABB Power Grids, Hubbell, Eaton Corporation, and CGI Group, are actively working on delivering a diverse product range and entering profitable contracts for grid optimization solution systems. In August 2020, Hitachi ABB Power Grids, for example, signed a contract with the Gulf Cooperation Council Authority (GCCIA). Hitachi ABB Power Grids developed a new reliability-based service solution, RelCare, under this contract. This solution has enabled GCCIA to improve operational performance and network system resilience. Such advancements are projected to boost the worldwide grid optimization solution market growth over the next few years.

Browse In-depth Market Research Report (111 pages) on Grid Optimization Solution

Implementation of Smart Grids

Nations all over the world are focusing on the implementation of smart grids and the integration of optimization systems due to …

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