With growing electricity consumption, the peak electricity demand is expected to increase manifold by 2050. It is believed that, owing to their intelligence features, smart grids have the potential to reduce the projected peak demand increases by up to 24% across some of the major regions of the world. This is because sensors in smart grids can detect peak load in advance and divert surplus supply from low demand areas to meet the peak requirements in a particular region. Moreover, with countries having ambitious renewable energy targets, it is important to ensure that a compatible infrastructure is put in place in parallel.
Smart Grids Will Play a Pivotal Role in Meeting the Future Energy Demand
The world is facing a pressing need for advanced electricity grid infrastructure; close to 170 companies are presently offering a variety of smart grid equipment.
Companies Across the Globe are Offering a Variety of Infrastructure Solutions
The current market landscape is fragmented and comprises a mix of small to mid-sized companies and large enterprises distributed across the globe
Large Enterprises are Setting Benchmarks for Small and Mid-Sized Stakeholders
Industry stakeholders are actively widening the scope of their offerings to gain a competitive edge, setting benchmarks for emerging players.
Regulations and Standards Across the Countries Demonstrate the Pressing Need
There is a marked difference in smart grid related policies / legislations worldwide; this is evident across ongoing as well as recently announced projects.
Investment Opportunity Varies Across Different Regions Worldwide …
Primarily driven by the current market state and available infrastructure, the opportunity for smart grids varies across different regions.
… Developments in Emerging Economies, Though, Will Sustain the Long-Term Growth
Though the short term, the smart grids infrastructure market is likely to be driven by developed economies, long term sustainability will be offered through the contributions of emerging economies
Arun is an enthusiastic professional and has been associated with Roots Analysis since the very early years. He has led multifaceted roles over the years be it business research, consulting, competitive intelligence, IT & technology, sales and marketing. He currently drives strategic thinking and execution within the sales and marketing domain. With educational background in life sciences from Thapar University and digital marketing credentials from Indian School of Business, he has led a lot of critical initiatives at the organization. His background in life sciences has been one of the key reasons for quick understanding and implementation of customized marketing strategies. During his early years, he has led multiple consulting assignments for global clients ranging from competitive landscaping, deal structuring and preparing go-to-market strategy for his clients.