Europe Smart Grid Market 2022-2027

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    EUROPE SMART GRID MARKET

     

    INTRODUCTION

    The smart grid is an electricity network that incorporates a number of operational and energy-saving techniques. Power systems regulation and management of power generation and distribution are critical components of the smart grid.

     

    The implementation of smart grid technologies necessitates a fundamental re-engineering of the energy services business, despite the fact that the phrase is typically used to refer to technological infrastructure. Challenges about smart grid technologies mostly center on smart meters, the things enabled by these, and fundamental safety concerns.

     

    But even though the electric grid is regarded a technical wonder, we are exceeding its capacity due to its patchwork structure. As progress forwards, humans have to have a new type of electric infrastructure, one that is designed from the ground up to withstand the onslaught of digital and computerized devices.

     

    This Smart Grid, like that of the World wide web, will be comprised of management, computing, mechanization, and emerging technologies and software that collaborate, but in this instance, these technologies will collaborate with the electricity network to adapt digitally to our rapidly changing electricity consumption.

     

    infographic: Europe Smart Grid Market, Europe Smart Grid Market Size, Europe Smart Grid Market Trends, Europe Smart Grid Market Forecast, Europe Smart Grid Market Risks, Europe Smart Grid Market Report, Europe Smart Grid Market Share

     

    This same Smart Grid provides a once-in-a-lifetime chance to usher the energy sector into a new era of dependability, accessibility, and effectiveness that will benefit both our economically and environmentally health.

     

    Even during transitional period, it will be necessary to conduct testing, technological upgrades, consumer education, guideline and regulatory creation, and exchange of information amongst initiatives.

     

    EUROPE SMART GRID MARKET DYNAMICS

    The overall market seen by countries’ legislative frameworks surrounding the introduction of smart networks to provide consistent electricity supply. The growing demand for dependable and consistent power production as a result of the transition towards alternative sources of energy is fuelling the expansion of the smart grid industry.

     

    The increasing adoption of electric vehicles throughout the world, as well as increased expenditures in establishing charging points in diverse locations, is the most major element driving the growing need for smart metering around the world.

     

    Furthermore, escalating attempts to minimize carbon emissions and generate emission-free renewable resources are increasing adoption of advanced networks. Several countries have ambitions to build a number of smart cities that will mostly run over the internet.

     

    Power supplied by smart metering is predicted to be one of the most important primary drivers microgrid industry. The key growth catalyst is the development of numerous regulatory requirements governing the implementation of smart energy infrastructure.

     

    Additionally, the continent’s fast industrialization has resulted in significant contamination, and that as a consequence, interest for sustainable green electricity is increasing rapidly in this location. The construction of smart grids requires a significant capital commitment.

     

    As a result, capital-intensive nations such as Europe and North America can swiftly construct smart network infrastructure, but impoverished regions such as Africa and Latin America lack enough capital to spend in smart metering.

     

    EUROPE SMART GRID MARKET SEGMENTATION

    The Europe Smart Grid Market can be segmented into following categories for further analysis.

    By Application

    • Generation
    • Transmission
    • Distribution
    • Consumption

     

    By Structure Type

    • Advanced Metering Infrastructure
    • Distribution Management
    • Substation Automation
    • Communications
    • Security
    • Network Management

     

    By Operational Structure Type

    • Residential
    • Commercial
    • Industrial

     

    By Regional Classification

    • Austria
    • Belgium
    • Bulgaria
    • Croatia
    • Republic of Cyprus
    • Czech Republic
    • Denmark
    • Estonia
    • Finland
    • France
    • Germany
    • Greece
    • Hungary
    • Ireland
    • Italy
    • Latvia
    • Lithuania
    • Luxembourg
    • Malta
    • Netherlands
    • Poland
    • Portugal
    • Romania
    • Slovakia
    • Slovenia
    • Spain
    • Sweden

     

    RECENT TECHNOLOGICAL TRENDS IN EUROPE SMART GRID MARKET

    Smart energy macroeconomic variables such as an increase in environmental concerns as well as an increase in the use of smart grid technology to enhance efficiency in energy saving and consumption are propelling the industry’s expansion.

     

    Furthermore, favourable national policies for the adoption of smart meters, as well as an increase in expenditures in digital power infrastructure, are some of the key drivers driving market expansion. Nevertheless, a lack of standardization and an increase in concerns about privacy are projected to stymie the development of the smart grid industry.

     

    Nonetheless, the rise with privacy and security concerns is projected to stymie the expansion of the smart grid business. Additionally, a growth in the number of electric cars on the road, as well as forthcoming smart city initiatives in emerging regions, are likely to deliver significant benefits.

     

    Furthermore, with continual monitoring of disruptions, smart grid provides real-time help to energy management software, increasing transmission systems tactical awareness.

     

    Furthermore, smart grid would entail the use of detectors and some other technology, which is expected to reduce the amount of power consumed while not in use. Furthermore, smart grid’s interconnected data and knowledge infrastructure is projected to empower utilities to effectively incorporate and respond on huge amounts of data in order to improve system resilience.

     

    COMPETITIVE LANDSCAPE

    The ageing electric grid architecture, together with the rising need for power sector digitalization, is expected to boost the smart grid share in the market. Excessive government attention on ecological responsibility and the implementation of tough requirements aimed at reducing carbon emissions will boost product deployment.

     

    Rising investments in electronic grid infrastructure as a result of reduced recovery times and the entrance of new technologies such as IOT are expected to supplement the market overview.

     

    Cisco Systems Inc.  is part of the growing force of consumers based upon the varied levels of products launched in the European market. Featuring comprehensive distributed systems, the Cisco Connected Grid Network Operating System assists institutions in transforming their operations (such as demand management, distributing mechanization, and power stations) for such power system.

     

    Utility operators exchange a convergent IP-based communications infrastructure with all of this technology, allowing them to control millions of network endpoints. This Cisco Integrated Grid Network Management Software framework that aids in the segregation of global communications maintenance and utility functional operations. This included the Distributed Management Solution (DMS), the Outage Management Software (OMS), and indeed the Metering Monitoring System (MDM).

     

    IBM Corporation has been growing towards newer integration of the technologies focusing on better and optimized requirements based on the customer needs. The AMI (energy monitoring architecture) assists providers in changing consumer demand, such as the extensive use of distributed generation units and the rising acceptance of electric cars.

     

    AMI enabled by IoT technology via 5G technology with adaptable, elastic IoT cloud features is part of the next generation of power systems. This permits powerful broadcast analyses to ingest and interpret consumption data as well as millions of communications in real-time to monitor grid problems.

     

    These advancements in data analytics, artificial intelligence, and communications aid in the acceleration of grid transformation, which creates new sources of opportunity for utilities management and transforms the consumer experience.

     

    COMPANIES PROFILED

    Sl no Topic
    1 Market Segmentation
    2 Scope of the report
    3 Abbreviations
    4 Research Methodology
    5 Executive Summary
    6 Introduction
    7 Insights from Industry stakeholders
    8 Cost breakdown of Product by sub-components and average profit margin
    9 Disruptive innovation in theIndustry
    10 Technology trends in the Industry
    11 Consumer trends in the industry
    12 Recent Production Milestones
    13 Component Manufacturing in US, EU and China
    14 COVID-19 impact on overall market
    15 COVID-19 impact on Production of components
    16 COVID-19 impact on Point of sale
    17 Market Segmentation, Dynamics and Forecast by Geography, 2022-2027
    18 Market Segmentation, Dynamics and Forecast by Product Type, 2022-2027
    19 Market Segmentation, Dynamics and Forecast by Application, 2022-2027
    20 Market Segmentation, Dynamics and Forecast by End use, 2022-2027
    21 Product installation rate by OEM, 2022
    22 Incline/Decline in Average B-2-B selling price in past 5 years
    23 Competition from substitute products
    24 Gross margin and average profitability of suppliers
    25 New product development in past 12 months
    26 M&A in past 12 months
    27 Growth strategy of leading players
    28 Market share of vendors, 2022
    29 Company Profiles
    30 Unmet needs and opportunity for new suppliers
    31 Conclusion
    32 Appendix

     

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