Dive Summary:
- Global Smart Grid Technologies and Growth Markets 2013-2020, a new report by Greentech Media Research (GTM Research), predicts the value of the global smart grid market to exceed $400 billion by 2020 (click here for graphic), "with an average compound annual growth rate of over 7%."
- GTM Research forecasts China will become the world's biggest smart grid market, making up 24% of the worldwide market.
- Ben Kellison, Senior Analyst at GTM Research, identifies the key trends that will shape the global smart grid market in the years to come: "Evolving regulatory requirements and historical IT and infrastructure investments are the biggest drivers shaping global utility demand. These factors continue to make transmission optimization and distribution automation the dominant capital expenditures for grid modernization. However, in most regions we see the largest growth opportunities in analytics, followed by AMI and network operation software."
From the article:
This new report examines the global smart grid market from the perspective of growth and market share of technologies and services, featuring a top-down and bottom-up financial forecast along with highlights of regional trends, analysis and opportunity across the world’s established and emerging smart grid markets. By examining the major markets and technologies, the report identifies the biggest growth opportunities for the next 8 years and those markets which are most attractive to investors and utility vendors.