The term "smart grid" refers to an intelligent power grid that optimizes cooperation between electricity producers, storage providers, consumers, and power transmission and distribution networks. The aim is to ensure power supply based on efficient and reliable systems. Energy transition and the associated development of renewables are driving a compelling need to restructure power grids. Electricity is already no longer being generated exclusively in huge plants, and is instead being fed into the grid on a decentralized basis. The trend towards a power grid with external suppliers is leading to strong demand for expansion. This is necessary to address future requirements appropriately. Experts are referring to the smart grid sector as a nascent market worth billions.