Electricity networks are critical to achieving United Kingdom's (UK) energy and climate change objectives. Without the right network, for example, energy generated from renewable sources will not be able to reach customers. The evolving nature of generation and demand for electricity brings new challenges to electricity networks. This particularly applies to how the UK prepare for, and manage, uncertainties in the future patterns of generation and demand. The United Kingdom Smart Grid Market is estimated at USD XX billion in 2017 and is projected to reach USD XX billion by 2022, at a CAGR of XX% in the forecast period 2017-2022.
The number of industries and the consumers in this world is 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. A 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.
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.
Developed countries like the United States and the United Kingdom have already systems in place and are using this technology to reduce the loss of power. In the United Kingdom alone the projected savings are to be USD 20 billion by 2050, and in the United States, the savings would be between USD 46 billion and USD 117 billion 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.
Key Deliverables in the Market Study
·Market Definition along with identification of key drivers and restraints for the market.
·Market analysis for the United Kingdom Smart Grid Market, with specific assessments and competition analysis on a regional scale.
·Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies which can influence the market on a regional scale.
·Extensively researched competitive landscape section with profiles of major companies along with their share of markets.
·Identification and analysis of the Macro and Micro factors that affect the United Kingdom Smart Grid Market on a regional scale.
·A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
1. Executive Summary
2. Research Methodology
3. Market Overview
3.2 Market Demand Until 2022
3.3 Recent Trends and Developments
3.4 United Kingdom Power grid installed capacity
3.5 United Kingdom Smart grid installed capacity
4. Market Dynamics
5. United Kingdom PESTLE Analysis
6. United Kingdom Smart Grid Market Analysis, by Component
6.1.2 Market Demand Until 2022
6.2 Advanced Meter Infrastructure
6.2.2 Market Demand Until 2022
6.3 Smart Transmission and Distribution Equipment
6.3.2 Market Demand Until 2022
6.4.2 Market Demand Until 2022
7. Key Company Analysis
7.1 ABB Ltd.
7.2 Cisco System Inc
7.3 General Electric
7.4 Intl Business Machines Corp
7.5 Schneider Electric S.A.
7.6 Siemens AG
7.7 Echelon Corporation
7.9 Silver Springs Network
7.10 Itron Inc.
7.11 Telematics Wireless Ltd.
7.12 Hawker Siddeley Switchgear Ltd.
7.13 LSIS Co. Ltd.
8. Competitive Landscape
8.1 Mergers & Acquisitions
8.2 Market Share Analysis