The IoT is a grand vision as it ascribes the concept of millions of interconnected intelligent devices that can communicate with one another, and thereby control the world around us. Technically speaking, the smart grid can be considered to be an example of the IoT composed of embedded machines, wh…
The IoT is a grand vision as it ascribes the concept of millions of interconnected intelligent devices that can communicate with one another, and thereby control the world around us. Technically speaking, the smart grid can be considered to be an example of the IoT composed of embedded machines, which sense and control the behavior of the energy world. The IoT-driven smart grid is currently a hot area of research boosted by the global need to improve electricity access, economic growth of emerging countries, and the worldwide power plant capacity additions. GlobalData, a renowned consulting firm, forecasted that the global power transformer market is anticipated to increase from $10.3 billion in 2013 to $19.7 billion in 2020, with an astounding compound annual growth rate of 9.6 percent due to the phenomenal rise in energy demand in China, India and the Middle East. Therefore, it is the perfect time to invest research initiative, e.g., through our event, in the IoT-dominated smart grid sector.