The Smart Grid concept combines a number of technologies, end-user solutions and addresses a number of policy and regulatory drivers. It enables demand response and demand side management through the integration of smart meters, smart appliances and consumer loads, micro-generation, and electricity storage (electric vehicles) and by providing customers with information related to energy use and prices.
The global smart grid market is expected to witness high growth during the forecast period. The rise in adoption of the smart grid technologies along with firm government regulations and policies to reduce carbon emissions at the same time ensuring grid reliability on a global scale is expected to propel the demand for smart grid.
Some of the leading players in smart grid market are ABB Ltd., Alcatel-Lucent S.A., Eaton Corporation PLC, General Electric Company, Itron, Inc., Landis+Gyr AG, Schneider Electric SE, Sensus, Inc., Schweitzer Engineering Laboratories Inc. and Siemens AG are among others.