The Europe Smart Grid Market should witness market growth of 17.2% CAGR during the forecast period (2022-2028).
Depending on the choices of the user, intelligent appliances may choose when to use energy. This may lead to moving away along towards decreasing peak demands which have an influence on power producing prices. Smart sensors, for instance, may be employed in thermal stations to manage the temperature of the boiler depending on preset temperature thresholds.
Also, the smart metres enable two-way communication between power companies and end users, which helps to speed up the deployment of repair teams, automate billing data gathering, and identify equipment faults. Integrated communications are essential to smart grid technologies. It must respond as quickly as necessary to the system's real-time demands. Numerous various technologies, including Programmable Logic Controllers (PLC), wireless, SCADA (Supervisory Control and Data Acquisition), cellular,and BPL, are utilised in smart grid communication, depending on the situation.
IoT solutions are also likely to boost growth. Itron introduced a German household smart power metre in April 2021. To aid German towns and utilities in the energy transition, the business developed the eHZ-B smart metre. The smart metre meets Itron's 3. HZ FNN standard. Hence, the model is multi-vendor compatible. European governments are investing in smart metering infrastructure to update the grid and decrease T&D losses. By 2024, the EU will install 225 million electricity and 51 million gas smart metres. €47 billion might be invested. 77% of European power users will have smart metres by 2024. 44% will have gas. These reasons are boosting European Smart Grid Sensors Market demand.
The Germany market dominated the Europe Smart Grid Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $9,028.1 million by 2028. The UK market is registering a CAGR of 16.2% during (2022-2028). Additionally, The France market would showcase a CAGR of 18.1% during (2022-2028).
Based on Component, the market is segmented into Solution (Smart Grid Distribution Management, Substation Automation, Smart Grid Network Management, Smart Grid Metering Infrastructure, Smart Grid Security, Smart Grid Communications, and Others) and Services. Based on End-user, the market is segmented into Commercial, Industrial, and Residential. Based on Application, the market is segmented into Distribution, Transmission, Consumption, and Generation. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include General Electric Company (GE Grid Solutions), Schneider Electric SE, Cisco Systems, Inc., IBM Corporation, Siemens AG, Wipro Limited, Honeywell International, Inc., Oracle Corporation, ABB Group, and Itron, Inc.
Depending on the choices of the user, intelligent appliances may choose when to use energy. This may lead to moving away along towards decreasing peak demands which have an influence on power producing prices. Smart sensors, for instance, may be employed in thermal stations to manage the temperature of the boiler depending on preset temperature thresholds.
Also, the smart metres enable two-way communication between power companies and end users, which helps to speed up the deployment of repair teams, automate billing data gathering, and identify equipment faults. Integrated communications are essential to smart grid technologies. It must respond as quickly as necessary to the system's real-time demands. Numerous various technologies, including Programmable Logic Controllers (PLC), wireless, SCADA (Supervisory Control and Data Acquisition), cellular,and BPL, are utilised in smart grid communication, depending on the situation.
IoT solutions are also likely to boost growth. Itron introduced a German household smart power metre in April 2021. To aid German towns and utilities in the energy transition, the business developed the eHZ-B smart metre. The smart metre meets Itron's 3. HZ FNN standard. Hence, the model is multi-vendor compatible. European governments are investing in smart metering infrastructure to update the grid and decrease T&D losses. By 2024, the EU will install 225 million electricity and 51 million gas smart metres. €47 billion might be invested. 77% of European power users will have smart metres by 2024. 44% will have gas. These reasons are boosting European Smart Grid Sensors Market demand.
The Germany market dominated the Europe Smart Grid Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $9,028.1 million by 2028. The UK market is registering a CAGR of 16.2% during (2022-2028). Additionally, The France market would showcase a CAGR of 18.1% during (2022-2028).
Based on Component, the market is segmented into Solution (Smart Grid Distribution Management, Substation Automation, Smart Grid Network Management, Smart Grid Metering Infrastructure, Smart Grid Security, Smart Grid Communications, and Others) and Services. Based on End-user, the market is segmented into Commercial, Industrial, and Residential. Based on Application, the market is segmented into Distribution, Transmission, Consumption, and Generation. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include General Electric Company (GE Grid Solutions), Schneider Electric SE, Cisco Systems, Inc., IBM Corporation, Siemens AG, Wipro Limited, Honeywell International, Inc., Oracle Corporation, ABB Group, and Itron, Inc.
Scope of the Study
By Component
- Solution
- Smart Grid Distribution Management
- Substation Automation
- Smart Grid Network Management
- Smart Grid Metering Infrastructure
- Smart Grid Security
- Smart Grid Communications
- Others
- Services
By End-user
- Commercial
- Industrial
- Residential
By Application
- Distribution
- Transmission
- Consumption
- Generation
By Country
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
Key Market Players
List of Companies Profiled in the Report:
- General Electric Company (GE Grid Solutions)
- Schneider Electric SE
- Cisco Systems, Inc.
- IBM Corporation
- Siemens AG
- Wipro Limited
- Honeywell International, Inc.
- Oracle Corporation
- ABB Group
- Itron, Inc.
Unique Offerings
- Exhaustive coverage
- The highest number of Market tables and figures
- Subscription-based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Europe Smart Grid Market, by Component
1.4.2 Europe Smart Grid Market, by End User
1.4.3 Europe Smart Grid Market, by Application
1.4.4 Europe Smart Grid Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 Analyst's Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.3 Market Share Analysis, 2021
3.4 Top Winning Strategies
3.4.1 Key Leading Strategies: Percentage Distribution (2018-2022)
3.4.2 Key Strategic Move: (Partnerships, Collaborations & Agreements: 2018, Sep - 2023, Feb) Leading Players
Chapter 4. Europe Smart Grid Market by Component
4.1 Europe Solution Market by Country
4.2 Europe Smart Grid Market by Solution Type
4.2.1 Europe Smart Grid Distribution Management Market by Country
4.2.2 Europe Substation Automation Market by Country
4.2.3 Europe Smart Grid Network Management Market by Country
4.2.4 Europe Smart Grid Metering Infrastructure Market by Country
4.2.5 Europe Smart Grid Security Market by Country
4.2.6 Europe Smart Grid Communications Market by Country
4.2.7 Europe Others Market by Country
4.3 Europe Services Market by Country
Chapter 5. Europe Smart Grid Market by End User
5.1 Europe Commercial Market by Country
5.2 Europe Industrial Market by Country
5.3 Europe Residential Market by Country
Chapter 6. Europe Smart Grid Market by Application
6.1 Europe Distribution Market by Country
6.2 Europe Transmission Market by Country
6.3 Europe Consumption Market by Country
6.4 Europe Generation Market by Country
Chapter 7. Europe Smart Grid Market by Country
7.1 Germany Smart Grid Market
7.1.1 Germany Smart Grid Market by Component
7.1.1.1 Germany Smart Grid Market by Solution Type
7.1.2 Germany Smart Grid Market by End User
7.1.3 Germany Smart Grid Market by Application
7.2 UK Smart Grid Market
7.2.1 UK Smart Grid Market by Component
7.2.1.1 UK Smart Grid Market by Solution Type
7.2.2 UK Smart Grid Market by End User
7.2.3 UK Smart Grid Market by Application
7.3 France Smart Grid Market
7.3.1 France Smart Grid Market by Component
7.3.1.1 France Smart Grid Market by Solution Type
7.3.2 France Smart Grid Market by End User
7.3.3 France Smart Grid Market by Application
7.4 Russia Smart Grid Market
7.4.1 Russia Smart Grid Market by Component
7.4.1.1 Russia Smart Grid Market by Solution Type
7.4.2 Russia Smart Grid Market by End User
7.4.3 Russia Smart Grid Market by Application
7.5 Spain Smart Grid Market
7.5.1 Spain Smart Grid Market by Component
7.5.1.1 Spain Smart Grid Market by Solution Type
7.5.2 Spain Smart Grid Market by End User
7.5.3 Spain Smart Grid Market by Application
7.6 Italy Smart Grid Market
7.6.1 Italy Smart Grid Market by Component
7.6.1.1 Italy Smart Grid Market by Solution Type
7.6.2 Italy Smart Grid Market by End User
7.6.3 Italy Smart Grid Market by Application
7.7 Rest of Europe Smart Grid Market
7.7.1 Rest of Europe Smart Grid Market by Component
7.7.1.1 Rest of Europe Smart Grid Market by Solution Type
7.7.2 Rest of Europe Smart Grid Market by End User
7.7.3 Rest of Europe Smart Grid Market by Application
Chapter 8. Company Profiles
8.1 General Electric Company (GE Grid Solutions)
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Segmental and Regional Analysis
8.1.4 Research & Development Expense
8.1.5 Recent strategies and developments:
8.1.5.1 Partnerships, Collaborations, and Agreements:
8.1.5.2 Product Launches and Product Expansions:
8.1.6 SWOT Analysis
8.2 Schneider Electric SE
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Segmental and Regional Analysis
8.2.4 Research & Development Expense
8.2.5 Recent strategies and developments:
8.2.5.1 Partnerships, Collaborations, and Agreements:
8.2.5.2 Product Launches and Product Expansions:
8.2.6 SWOT Analysis
8.3 Cisco Systems, Inc.
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Regional Analysis
8.3.4 Research & Development Expense
8.3.5 Recent strategies and developments:
8.3.5.1 Partnerships, Collaborations, and Agreements:
8.3.6 SWOT Analysis
8.4 IBM Corporation
8.4.1 Company Overview
8.4.2 Financial Analysis
8.4.3 Regional & Segmental Analysis
8.4.4 Research & Development Expenses
8.4.5 SWOT Analysis
8.5 Siemens AG
8.5.1 Company Overview
8.5.2 Financial Analysis
8.5.3 Segmental and Regional Analysis
8.5.4 Research & Development Expense
8.5.5 Recent strategies and developments:
8.5.5.1 Partnerships, Collaborations, and Agreements:
8.5.6 SWOT Analysis
8.6 Wipro Limited
8.6.1 Company Overview
8.6.2 Financial Analysis
8.6.3 Segmental and Regional Analysis
8.6.4 Research & Development Expenses
8.6.5 SWOT Analysis
8.7 Honeywell International, Inc.
8.7.1 Company Overview
8.7.2 Financial Analysis
8.7.3 Segmental and Regional Analysis
8.7.4 Research & Development Expenses
8.7.5 SWOT Analysis
8.8 Oracle Corporation
8.8.1 Company Overview
8.8.2 Financial Analysis
8.8.3 Segmental and Regional Analysis
8.8.4 Research & Development Expense
8.8.5 SWOT Analysis
8.9 ABB Group
8.9.1 Company Overview
8.9.2 Financial Analysis
8.9.3 Segmental and Regional Analysis
8.9.4 Research & Development Expense
8.9.5 SWOT Analysis
8.10. Itron, Inc.
8.10.1 Company Overview
8.10.2 Financial Analysis
8.10.3 Segmental and Regional Analysis
8.10.4 Research & Development Expense
8.10.5 Recent strategies and developments:
8.10.5.1 Partnerships, Collaborations, and Agreements:
Companies Mentioned
- General Electric Company (GE Grid Solutions)
- Schneider Electric SE
- Cisco Systems, Inc.
- IBM Corporation
- Siemens AG
- Wipro Limited
- Honeywell International, Inc.
- Oracle Corporation
- ABB Group
- Itron, Inc.
Methodology
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