The Smart Grid market in the Americas is expected to grow at a CAGR of 9.6 percent over the period 2013-2018.
The integration of renewable energy sources into power grids is the major trend in this market.
The shifting focus from conventional power production sources to renewable sources need appropriate T&D infrastructure and energy management systems to balance the electricity supply and demands.
One of the major drivers in this market is the aging power grid infrastructure. The need to retrofit conventional power generation systems to improve their efficiency, reducing losses balances the growth of the Smart Grid Market in the Americas.
Further, one of the major challenges in this market is the high susceptibility of smart grids to cyber-attacks.
The software used in smart grids is vulnerable to the threat of virus attacks as well as mishandling.
The main information control system in smart grids is exposed to security threats because of the regular usage of the internet and access through points for electrical and communication lines.