Global Smart Infrastructure - Smart Grids and Smart Meter Trends and Statistics
By making the electricity grid intelligent' and adding telecoms to it, the power will eventually shift away from the electricity companies and to the customers, who will be able to control their energy consumption through sensors, M2M devices, and the Internet of Things (IoT).
Europe and North America are rated as the most advanced adopters of smart grid and smart metering technology, but the market is expected to shift more and more towards Asia and the developing world.
Smart' means communication, and since many countries are addressing their broadband networks, the smart thing to do would be to roll out fast broadband infrastructure in combination with smart grids and, wherever applicable, other smart infrastructure. In that way, energy efficiency measures can be implemented throughout society and throughout the economy (buildings, transport, cities) with a minimum of extra infrastructure, as a trans-sector approach is based on sharing the infrastructure.
Unfortunately, one of the major obstacles to smart grid uptake continues to be the lack of good government policies. With all the knowledge we now have, it would amount to a criminal offence if this generation were to allow vested interests to prevent us from developing trans-sector policies and holistic initiatives to address energy and environmental concerns. We need to break down those silos and force cooperation between the sectors wherever possible.
This BuddeComm report is designed to provide a current smart grid market overview as well as insightful observations supported by statistics and examples, which may assist investors, analysts and industry participants in making investment and business decisions.
After some early enthusiasm from 2007 to 2012, we are witnessed a lull in smart grid developments. However, smart technology is on the agenda of most electricity companies and governments. The value of the global smart grid market is forecast to grow to $118.1 billion by 2019. Energy is now at the heart of the G20's agenda and, for the first time, G20 Energy Ministers are holding meetings to address global energy concerns. China has surpassed the US in smart grid investment. Smart grid systems had been installed in more than 30% of Singapore's households. It is only a matter of time before disruptive sharing developments will take place in the electricity industry.