The estimated installed base of smart meters (electricity, gas and water) is expected to surpass the 1 billion mark within the next 2 years. Just under 132 million smart meters were shipped worldwide in 2018. This number is expected to grow 7% per year to exceed 200 million by 2024.
via IoT Analytics
“Initial results of this study are suggesting blockchain can facilitate the decentralized electricity markets that create more grid flexibility – as long as we have enough decentralized computational power to support the market.”
China and the EU have both signaled that they see electric vehicles as a strategic priority and a way to reduce their exposure to volatile oil markets. According to estimates from Benchmark Mineral Intelligence, China and the EU will have the highest EV market share in 2028.
“Innovation-as-usual is no longer enough. Fortunately, artificial intelligence (AI) is emerging as a catalyst for scientific discovery, helping clean energy innovations get to market faster and disrupting existing business models.”
As a report from the World Economic Forum makes clear, we’re at the start of a mobility revolution. By 2040, more than half of new cars sold in the world will be electric vehicles, with 70 percent of market share in Europe, and over 50 percent in China.
Total forecast IT spending by Western European utilities is expected to reach $18.4 billion by 2019, with an estimated 2014–2019 CAGR of 3.3%. Total current IT spending by Western European utilities is expected to be $16.3 billion in 2015, with electricity companies accounting for the largest share.
The Juniper Smart City Rankings have been compiled following an analysis of the Smart capabilities offered in each city, with particular focus on their use of smart grids, smart traffic management and smart street lighting.
IDATE forecasts that there will be a total of just under 1.4 billion smart meters (electricity, gas and water combined) deployed worldwide in 2018, that’s up from roughly 500 million in 2013 — a CAGR of 22.7%.
Many countries now have regulation in place which targets close to 100% replacement of ‘dumb’ meters by 2020.
The Chinese government has been an early pioneer of smart grid technology. Since embarking on its national smart metering project at the turn of the decade, more than 200 million new electricity meters have already been deployed across China.
However, according to the latest market study by ABI Research, only around 50 million have so far been connected with bi-directional communication that can support true smart meter capabilities — such as ‘demand response’ measurement.
After years of steady but low growth, the commercial building automation systems (BAS) market is experiencing a rapid period of change and investment.
According to ABI Research, over the next five years the building automation services market will grow to $43 billion — that’s up from $35 billion this year.