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.
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.
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.
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 -
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.
By Application, Connected Energy Market is segmented into-
By End user, Connected Energy Market is segmented into-
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