United Kingdom Smart Grid Network Market Outlook – Market Analysis by Components, Competitive Landscape, Key Company Information - Growth Trends and Forecasts (2015-2020)
Electricity networks are critical to achieving UKs 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 UK prepare for, and manage, uncertainties in the future patterns of generation and demand.
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.
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 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
·Market Definition for the specified topic along with identification of key drivers and restraints for the market.
·Market analysis for the Africa Smart Grid Network Market, with region specific assessments and competition analysis on a global and 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 global and 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 Africa Smart Grid Network market on both global and regional scale.
·A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
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