“Increased Adoption of Smart Grid and Renewable Energy Integration”
- One prominent trend in the global power supply market is the increasing adoption of smart grid technology and the integration of renewable energy sources
- Smart grids are being widely deployed to enhance electricity distribution efficiency and reliability
- For instance, The incorporation of smart grids allows for better management of electricity flow, reduces outages, and enhances grid reliability by automatically rerouting power during faults. This was highlighted in 2023 when Pacific Gas and Electric (PG&E) began rolling out a smart grid system across California, improving grid stability and enabling better energy management
- The integration of renewable energy sources, such as solar and wind, is also shaping the market
- These trends are transforming the power supply infrastructure by improving energy efficiency, enabling better demand response, and reducing carbon emissions, contributing to an increased demand for modern power supply systems in the market
