Philippines Electric Power and Water Utility Industry - The Omicron Disruption

Things (IoT) intervention for enhancing grid
efficiency, demand management customer
service across electrical utilities would be
stimulating industry outlook further.
Digital transformation of the grid through
cloud computing technology and sensors
facilitates crucial electricity usage data in
real time. This further helps in consumption
pattern monitoring, helping utilities address
the energy efficiency goals introduced by
government regulations.
The Asia Pacific smart grid market is set to grow
over 12% by 2024. High T&D losses, rising
electricity thefts and aging grid infrastructure
will entail significant deployment of the
smart grid across diverse utilities. Stringent
regulatory requirements aimed at reducing
carbon emissions and energy consumption
will further boost product demand.
Europe’s smart grid market growth is projected
to stand out prominently from a regional frame
of reference over the forecast timeframe. The
region’s prominence is being attributed to
substantial growth in investment towards the
rollout of smart meters.
Leveraging the European Commission’s
favorable climate and energy policies, EU
member states aim to replace approximately
80% of the region’s conventional electricity
meters with technologically advanced smart
meters.
Moreover, the ongoing integration of numerous
renewable energy sources into the continent’s
existing power grid infrastructure would
be further presenting substantial growth
prospects throughout the region.
Across Europe, the U.K. smart grid market is
slated to witness robust growth on the back of
favorable government-sponsored regulatory
norms that focus on energy conservation
and environmental sustainability. Upcoming
legislation and mandates across the country
that promote adoption of smart meters would
be further augmenting the industry landscape
in the coming years.
Apart from Europe, the market is projected
to see sizable growth coming from Latin
America, especially Brazil, during the forecast
time period. The Brazil smart grid market
would be recording growth on account of
growing energy demand and high-level nontechnical
and technical losses across its grid
infrastructure.
Furthermore, the country’s low grid reliability
along with its immense renewable energy
potential is presenting significant expansion
opportunities to regional industry players,
boosting the market revenues further.
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