ARC says Smart Maintenance Technology market is growing in power industry
The huge investments pouring into the electric grid infrastructure provide an economical opportunity for power grid owner/operators to include an asset condition monitoring infrastructure from the onset of these projects. This will fundamentally change the way that grid assets are managed and maintained. With smarter electric grids, operators will be able to take a more proactive role to ensure the seamless flow of power. Smart maintenance technology solutions will enable operators to identify problems quickly, preventing equipment failures and subsequent power outages, according to Analyst Allen Avery, the principal author of ARCs Smart Maintenance Technology Solutions for Power T&D Worldwide Outlook.
Increased Energy Demand Pushing Grid to Its Limit
The rising demand for electricity in North America continues to strain the aging electricity infrastructure in both the US and Canada, with more businesses and homeowners struggling with surges, outages, and weather-related power losses. While demand rises, fewer new generating plants are being built, and utilities are pushing the electric grid to its capacity and beyond. Keeping the grid operating smoothly and reliability has become more difficult than ever as the industry is forced to grapple with the aging, less reliable infrastructure, and an aging workforce that is approaching retirement.
Aging Power Grid Needs Closer Monitoring
The average age of equipment on the grid in North America is between 40 and 50 years old, and much of it on the distribution segment, has little or no automation, particularly in remote areas. By some estimates, more than half of the installed transformers are nearing the end of their operation lives, or have already exceeded them. Effective SMT solutions could allow utilities to prolong the lives of their transformers by keeping them operating within safe tolerances that do not push them beyond their limits.
North America Will Lead SMT Growth
The North American market is arguably the most fertile ground for SMT installations in coming years, as owner/operators deploy asset management technologies to help optimize the performance and the equipment life of their aging electrical grids, and as part of their smart grid initiatives, which are experiencing meteoric growth. The addition of alternative energy and power storage resources to the grid adds to the complexity of balancing power loads, and will drive adoption of asset management solutions and performance management of its networks.
About ARC: Founded in 1986, ARC Advisory Group is the leading research and advisory firm for industry. Our coverage of technology from business systems to product and asset lifecycle management, supply chain management, operations management, and automation systems makes us the go-to firm for business and IT executives around the world. For the complex business issues facing organizations today, our analysts have the industry knowledge and first-hand experience to help our clients find the best answers.
MORE INDUSTRY NEWS
ams to divest NFC and RFID reader IP and technologies to STMicroelectronics
The transaction is part of ams’ ongoing efforts to actively manage its portfolio of technologies with a clear focus on implementing its sensor...
Fives announces launch of Liné Machines Robotics
The robotics options will complement the traditional, large machine tool solutions already being provided to the aerospace, rail and heavy...
Automation Federation welcomes SANS Institute as its seventh working group
In adding SANS as one of its working groups, the Automation Federation takes a step forward in broadening awareness around the need to integrate...
Allied announces Rebecca Weiser and Mary Edmonds as new directors
Weiser joins Allied as Product Director in Product Management for the Interconnect, Passives and Electromechanical category of industrial...
TrendMiner announces $1.1 Million funding from The Innovation Fund
This is a symbolic investment after the Fund’s recent series A funding to TrendMiner of $6 million in December 2015. The investment group...
NEMA publishes NEMA ABP 1-2016 Selective Coordination of Low-Voltage Circuit Breakers
The purpose of this paper is to provide guidance to engineers regarding the National Electrical Code (NEC) requirements for selective coordination.
7 Myths of Version Control & Backups in Automated Production
This whitepaper tackles the seven most common myths and misconceptions surrounding version control and data management in the current technological...
FIPA builds End-of-Arm-Tooling to enhance FANUC robotics
Built in FIPA’s American facilities, and installed in the testing and demonstration laboratory at FANUC headquarters in Rochester Hills,...
Emerson Industrial's Unidrive AC delivers power for German textile company
Freudenberg needed to replace an AC drive within their nonwoven production facility in Kaiserslautern, Germany. The need for a small footprint...
EU Automation releases guide to smart technology
EU Automation's one page guide provides an insight into the smart technologies lighting the way to a more energy efficient future. The resource is...