In Europe, the electricity network has grown in size and complexity over the years. With the experience gained in the operation of the large grids, there is plan to link the major electricity network with neighboring grids, forming large interconnected national and international grids. Given that several components of such a Smart Gird are still in a demonstration phase, it is required to bring together different stakeholders to one forum to discuss the challenges ahead and to come out with action plans to have these smart power delivery systems.
From one perspective, it could be said that smart grids offer the electrical equivalent of giving customers the vote, providing them with the tools to exercise greater control over the way they use electricity. However, experience throughout some regions has shown that consumers are unaware of how to take advantage of these changes. Indeed, most customers fail to recognize these new tools as something they want or need. Nonetheless, as was noted, no one asked for a BlackBerry before it was invented.
The number of industries and the consumers in this world are increasing day by day. The power demand for fuelling them will also increase exponentially. Smart grid technology could be the answer for all the problems of power delivery system that the grids across the world are facing today. Smart grid uses the principle of digital technology with power grids to estimate the varied demand and effectively supply without wasting power. This will reduce the dependency of the world on fossil fuels. It will make the power grids sustainable, efficient and reliable.
Developed countries like United States and United Kingdom have already systems in place and are using this technology to reduce the loss of power. In United Kingdom alone the projected savings are to be $20 billion by 2050 and in United States the savings would be between 46 and 117 billion dollars over the next 20 years.
There are various concerns with smart grid technology which include the cost of setting up, privacy concerns and the problem of various systems to work together. With major IT companies like Cisco coming in and innovations in sensors the future of smart grid network looks promising.
Smart grid uses smart meters instead of the mechanical meters to record the power consumed in real time. It also provides a means of communication to interact with the generation plants. The advanced sensors used in this help to avoid congestion and give the grid stability. By using systems like supervisory control and data acquisition (SCADA), fiber optics, energy management systems, and wireless mesh networks the communications between the consumer and the supply station it will help to provide real time control of power supply and also data flow.
What the Report Offers
1. Executive Summary
2. Research Approach and Methodology
3. Market Overview
3.2 Market Size and Demand Forecast to 2022
3.3 Recent Trends and Developments
4. Market Dynamics
5. Europe Smart Grid Network Market Analysis, by Region
5.1 United Kingdom
5.1.1 Market Overview
5.1.2 Market Size and Demand Forecast to 2022
5.2.1 Market Overview
5.2.2 Market Size and Demand Forecast to 2022
5.3.1 Market Overview
5.3.2 Market Size and Demand Forecast to 2022
5.4 Rest of Europe
5.4.1 Market Overview
5.4.2 Market Size and Demand Forecast to 2022
6. Europe Smart Grid Network Market Analysis, by Application
6.1 Transmission Upgrades
6.1.1 Market Overview
6.1.2 Market Size and Demand Forecast to 2022
6.2 Demand Response
6.2.1 Market Overview
6.2.2 Market Size and Demand Forecast to 2022
6.3 Advance Metering Infrastructure
6.3.1 Market Overview
6.3.2 Market Size and Demand Forecast to 2022
6.4 Others (Substation Automation, Electric Vehicle Management Systems)
6.4.1 Market Overview
6.4.2 Market Size and Demand Forecast to 2022
7. Key Company Profiles
7.3 Eaton Corporation plc.
7.4 General Electric
7.7 Osaki Electric Co., Ltd.
7.8 S&C Electric Company Inc.
7.9 Schneider Electric
7.11 (-List not Exhaustive)
8. Competitive Landscape
8.1 Mergers & Acquisitions
8.2 Joint Ventures, Collaborations and Agreements
9.1 Contact Us
*List not Exhaustive