Market Research Report
South and Central America Smart Grid Network Market Outlook - Market Analysis by Geography, Components, Competitive Landscape, Key Company Information - Growth Trends and Forecasts (2017 - 2022)
|Published by||Mordor Intelligence LLP||Product code||369560|
|Published||Content info||86 Pages
Delivery time: 1-2 business days
|South and Central America Smart Grid Network Market Outlook - Market Analysis by Geography, Components, Competitive Landscape, Key Company Information - Growth Trends and Forecasts (2017 - 2022)|
|Published: January 15, 2017||Content info: 86 Pages||
The South and Central American regions smart grid market is expected to reach USD XX billion by 2022 from USD XX in 2015, growing at a CAGR of XX%.
South and Central America is expected to invest $3.3bn in smart grid infrastructure over the period 2015-2025. This investment is expected to lower the regions cost of electricity by incorporating renewable resources. The region is blessed with a wealth of untapped renewable energy resources. Smart grid infrastructure investment is critical for incorporating solar, wind and other renewables into the existing grid. Furthermore, the regions transmission and distribution losses average approximately 20%, majorly due to rampant electricity theft. Incorporating more renewable generation capacity and reducing losses can help bring down the regions high electricity prices.
The largest investments are expected to be in the Dominican Republic, Jamaica and Costa Rica. Furthermore, the regions larger markets of Guatemala and Honduras are also likely to see significant investment during the outlook period. The region benefits from shared standards with the US and proximity to several experienced North American smart grid vendors.
On the Flipside, the region must overcome several barriers to smart grid investment. Security challenges are likely to put pressure on power infrastructure progress in the region.
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.