Utility Spending on Asset Management and Grid Monitoring Technology Will Reach Nearly $50 Billion through 2023, Forecasts Navigant Research
New technology provides a holistic, predictive view of grid performance, report concludes.
BOULDER, Colo.–(BUSINESS WIRE)–Most utilities today handle asset management with what amounts to a run-to-fail strategy. Despite the growing availability of new solutions, many utilities have not yet incorporated sensing or monitoring technology into their networks. With the advent of the smart grid, however, the inclusion of sensing and monitoring systems is starting to make compelling economic sense. Click to tweet: According to a new report from Navigant Research, cumulative utility spending on asset management and condition monitoring systems for the power grid will total $49.2 billion during the period from 2014 to 2023.Read more