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United Kingdom Smart Grid Market Size (2024 - 2029)

The UK smart grid network market is poised for growth, driven by increased investments and the deployment of advanced technologies such as smart meters and EV chargers. Despite the challenges posed by the COVID-19 pandemic and the complexities introduced by the rising use of renewable energy, the market is expected to expand as the government prioritizes smart grid technology for economic and environmental goals. This strategic focus is anticipated to create significant opportunities for market participants, contributing to the overall market size expansion in the coming years.

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Market Size of United Kingdom Smart Grid Industry

United Kingdom Smart Grid Market Forecast
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR > 3.00 %
Market Concentration Low

Major Players

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*Disclaimer: Major Players sorted in no particular order

UK Smart Grid Network Market Analysis

The UK smart grid market is expected to witness a CAGR of more than 3% during the forecast period, 2022-2027. The COVID-19 pandemic had slowed the growth of the smart grid market, as the United Kingdom was forced to implement strict lockdowns during the 2020-2021 period. Governments and local authorities issued strict guidelines, and all non-essential operations were halted. This adversely affected the smart grid market owing to the suspension of end-users activities. Although the subsequent growth in 2021-2022 nullified the effects on the consumption side. Factors such as increased investment and deployment of smart grid technologies such as smart meters, EV chargers, and other associated smart grid infrastructure technologies are expected to drive the market in the coming years. However, increasing usage of renewable energy has created issues on the supply side of electricity which is expected to restrain the market in the coming years.

  • Advanced Metering Infrastructure (AMI) is expected to witness significant growth during the forecast period due to the increasing deployment of smart grid technologies.
  • The UK government is increasingly viewing smart grid technology as a strategic infrastructural investment that will sustain their long-term economic prosperity and help them achieve their carbon emission reduction targets. This, in turn, is expected to provide an ample amount of opportunities to the companies involved in the smart grid network market in the near future.
  • Increasing investments in smart grid networks are expected to drive the market during the forecast period.

UK Smart Grid Network Industry Segmentation

The UK smart grid market report includes:

Technology Application Area
Transmission
Demand Response
Advanced Metering Infrastructure (AMI)
Other Technology Application Areas
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United Kingdom Smart Grid Market Size Summary

The UK smart grid market is poised for growth, driven by increased investments and the deployment of advanced technologies such as smart meters and electric vehicle chargers. The market experienced a slowdown due to the COVID-19 pandemic, which led to strict lockdowns and halted non-essential operations, impacting end-user activities. However, the subsequent recovery has been bolstered by the government's strategic focus on smart grid technology as a means to achieve long-term economic stability and carbon emission reduction targets. This has created significant opportunities for companies in the sector. Despite challenges posed by the increasing use of renewable energy affecting supply-side electricity, the market is expected to expand, particularly in the area of Advanced Metering Infrastructure (AMI), which offers operational benefits and cost savings for utility companies.

Public and private sector investments in smart grid upgrades are driving innovation and the development of new products and services. Notable initiatives include Northern Powergrid's pilot program to enhance grid resilience and Vodafone's trial with UK Power Networks to integrate 5G technology into the electricity network. These efforts are part of a broader trend towards modernizing the electricity grid and reducing transmission and distribution losses. The UK's commitment to a nationwide AMI roll-out, alongside the phasing out of fossil fuels in favor of cleaner energy sources, underscores the country's dedication to advancing its smart grid infrastructure. As demand for energy rises and supply constraints persist, the smart grid market in the UK is expected to continue its growth trajectory, supported by significant investments and technological advancements.

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United Kingdom Smart Grid Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast in MW, till 2027

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

      2. 1.5.2 Restraints

    6. 1.6 Supply Chain Analysis

    7. 1.7 Porter's Five Forces Analysis

      1. 1.7.1 Bargaining Power of Suppliers

      2. 1.7.2 Bargaining Power of Consumers

      3. 1.7.3 Threat of New Entrants

      4. 1.7.4 Threat of Substitutes Products and Services

      5. 1.7.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Technology Application Area

      1. 2.1.1 Transmission

      2. 2.1.2 Demand Response

      3. 2.1.3 Advanced Metering Infrastructure (AMI)

      4. 2.1.4 Other Technology Application Areas

United Kingdom Smart Grid Market Size FAQs

The United Kingdom Smart Grid Market is projected to register a CAGR of greater than 3% during the forecast period (2024-2029)

EdF Energy, SSE PLC, Schneider Electric SE, Renault Group and E.ON SE are the major companies operating in the United Kingdom Smart Grid Market.

UK Smart Grid Networking Market Report Snapshots

Smart Grid Network Market in UK Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)