This Connected Energy market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Connected Energy market.
Connected Energy Market: - An Overview
Connected Energy is as system in which electricity, gas and thermal grids are combined with storage technologies and coordinated to identify the synergies between them to achieve the optimal solution for each individual sector as well as overall energy system.
Connected energy shows large potential for reducing energy bills of businesses and houses and can also help to cut the increasing oil and gas imports. Connected energy is flexible and intelligent system that ensures energy supply, storage and consumption while promoting cohesion between energy supply and demand. The connected energy system is built around three grid infrastructure including smart electricity grids, smart thermal grids, and smart gas grids.
Impact of COVID-19 Pandemic Outbreak on Connected Energy Market
The COVID-19 pandemic in Q1, 2020 has resulted in a shutdown of commercial and industrial establishment and even stoppage of railways services globally. This has adverse effect on electricity demand. But there is slight increase in demand for electricity by residential sectors as more people are staying at home due to lockdown across the countries.
As Italy has become an epic centre for COVID-19 pandemic the Italian grid experienced a significant reduction in electric demand as high as 18-21% reduction in demand. Other European countries have also observed decreasing demand for electric including Spain observed a decrease in electric demand by 5.6%, and French grid experienced 15% decrease in electric demand.
In New York City the electric demand has dropped by 9 to 10% due to full lockdown in the city. However, according to estimates, if the COVID-19 pandemic situation gets controlled during Q3-Q4, 2020, the electric demand will increase after the lockdown is over.
Connected Energy Market: - Market Dynamics
Increasing Adoption of Smart Grid is spurring the growth of Connected Energy Market
Smart grid technology is made up of two-way communication technology, computer processing and control systems. These system includes advanced sensors known as Phasor Measurement Units that helps operators to assess grid stability, relays that sense and recover from fault in the substation automatically, smart meters that gives information to the consumer and automatically report outages automated feeder switches that re-route power around problems.
Adoption of smart grid is increasing as smart grid helps is reducing peak demand that helps to lower electricity rates, also helps the transmission of electricity efficiently. However, due to these features of smart grid the adoption of smart grid is increasing which is spurring the growth of connected energy market.
Increasing demand of Smart Meters for Detail and Accurate Analytics
Smart meters are used to manage and record electricity and performance of electronic devices. The demand of smart meter is increasing as the smart meters has the ability to provide accurate and detailed information regarding electricity usage in real-time without a technician.
Smart meter helps to reduce the number of blackouts and system-wide electricity failures. However, the connected energy market is witnessing high demand due to adoption of smart meters.
Connected Energy Market: - Key Players
Key players in the Connected Energy market are focusing on and strategic partnerships and with the technology vendors to collaborate for offering digital transformation solution and services for sustained business growth. The major players offering Connected Energy solutions include -
- GE Energy
- Wasion Group Holdings
- Elster Group GmbH, among others.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain of the global Connected Energy market. The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with Connected Energy market attractiveness as per segments. The report on Connected Energy market also maps the qualitative impact of various factors on Connected Energy market segments and geographies.
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Connected Energy Market: - Segmentation
By Application, Connected Energy Market is segmented into-
- Smart Grid
- Smart Solar
- Home Energy Management Systems
- Digital Oilfields
By End user, Connected Energy Market is segmented into-
- A detailed overview of parent market of Connected Energy market
- Changing Connected Energy market dynamics in the industry
- In-depth segmentation of the Connected Energy market
- Historical, current, and projected Connected Energy market size by value
- Recent industry trends and developments in Connected Energy market
- Competitive landscape of the Connected Energy market
- Strategies for key players in Connected Energy and solutions and services offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on Connected Energy market performance
- Must-have information for Connected Energy market players to sustain and enhance their market footprint
Frequently Asked Questions
What research methodology is used to develop the Connected Energy Market report?
- FMI utilizes three branched methods to derive market measurements used to compile any report study (data derivation, triangulation and validation).
- These approaches include accumulating data from both primary and secondary sources
- Primary research involves interviews with industry operators and FMI's network of contacts spanning the world's value chain of the Connected Energy Market. This is supported by a comprehensive literature analysis of information gathered through secondary sources
- Analysis of several middle market stakeholders for country-wise data
What else does FMI offer apart from Connected Energy Market report?
In addition to up-to-date market figures and customized of the Connected Energy Market, FMI offer consulting services to help businesses within industry navigate challenges and take well-informed decisions amidst the breakneck competition.
How do you define competitors based on market structure? What aspects about a competitor are included in the company profile section?
- Most of the competitors are segregated according to their market share in 'Tier' wise statures.
- Global market participants are scrutinized and global competition metrics are included with numerous competitor profiles referring to their business background and go-to market strategies.