The advanced protective relay sector is growing in sophistication and giving utilities new features and capabilities, such as sub-second monitoring and data collection, according to Navigant Research.
These devices are used to manage and control transmission and distribution grids, and the data they collect on grid conditions is highly actionable and otherwise valuable. Navigant found that the market is expected to total $73 billion during the period starting this year and culminating in 2024.
The firm said that the current base of protective relays is obsolete and nearing failure. The markets that are associated with the equipment are expected to collapse. This, the firm found, will create opportunity for upgrades. Navigant explores mechanical, solid-state and digital advanced protective relays and integrated digital protection systems in its report.
Making the grid smarter is a goal of the Internet of Things. That’s one area of focus for Ingenu, which recently rolled out a network that covers 55,000 square miles in the United States, according to The San Diego Union. The company – which has changed its name from On-Ramp, has raised more than $100 million since it launched in 2008.