Smart Power Distribution Systems Market to be worth US$ 63,500 Million by 2026
Increasing developments of grid infrastructure, rising demand for integration of renewable energy sources, improved grid reliability, and efficient outage response have increased the penetration of smart power distribution systems, globally. Adoption of smart power distribution solution by utilities is rising due to the increasing need for savings in capital expenditure (CapEx) and operational expenditure (OpEx). Increasing consumer demand for high speed data networks for reliable connectivity and mobility has fueled the demand for smart power distribution systems solutions. Numerous advancements in the networking industry and various benefits provided by automation technologies are expected to boost the demand for smart power distribution systems solutions.