Proving the Business Case for the Internet of Things

FLISR hardware market to be worth $5.4 billion in 2023: Navigant

Iain Morris
June 3, 2014
 
The global market for fault location, isolation and service restoration (FLISR) hardware for electricity grids will be worth $5.4 billion annually by 2023, according to a new study from Navigant Research.

In a release, the market-research company says the damage to electric infrastructure caused by recent storms is driving demand for faster service restoration.

Systems that can be used to decrease the duration of outages as well as the number of customers affected are set to flourish in such an environment, reckons Navigant, growing in annual value from $2.4 billion in 2014 to $5.4 billion by 2023.

“FLISR is one of the more effective applications of distribution automation technology, and can noticeably improve utility performance metrics such as the system average interruption duration index (SAIDI) and the system average interruption frequency index (SAIFI),” says Bob Lockhart, research director with Navigant Research.

“Improving these indicators can lead directly to improved customer satisfaction and reduced penalties by industry regulators, giving FLISR a quantifiable return on investment,” he added.

In the US, notes Navigant, investment grants from the American Recovery and Reinvestment Act have already funded significant rollouts of advanced metering infrastructure (AMI) systems.

Between 2009 and 2012, more than $1 billion was spent on distribution assets, including $300 million on automated switches that could be used for FLISR.

Although utilities are genuinely interested in smart metering, they could also see those AMI deployments as a way of acquiring the necessary network for distribution automation applications such as FLISR, says Navigant.
 
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