India Smart Grid Network Market Outlook - Market Analysis by Components, Competitive Landscape, Key Company Information - Growth Trends and Forecasts (2020 - 2025)

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The electric grid is on the threshold of a paradigm shift. After several years of centralized power generation and creation of massive electric grids that span the globe, the shift is now towards de-centralized generation. In the past 5 years, the picture of the grid has changed dramatically in most geographies. Furthermore, the global trend is to add more renewable energy sources, and smart grid will play an important role in integrating these in transmission and distribution grids. The evolving smart grids in the future is  going to provide huge business and employment opportunities, and India can leverage the demographic advantage to play a leading role in this new world. The Indian government has already embarked on $900 billion investment in electrical infrastructure by 2020 that includes building new transmission and distribution lines and power generation plants. 

On the Flipside, High implementation costs hinder the deployment of smart grids. There is also public concern over issues like privacy, fair availability of electricity, and a fear of misuse of the variable tariff system. The power savings and network stabilization that they provide outweigh the disadvantages of smart grids.

Smart grid uses smart meters instead of the mechanical meters to record the power consumed in real time. It also provides a means of communication to interact with the generation plants. The advanced sensors used in this help to avoid congestion and give the grid stability. By using systems like supervisory control and data acquisition (SCADA), fiber optics, energy management systems, and wireless mesh networks the communications between the consumer and the supply station it will help to provide real time control of power supply and also data flow.

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