Dive Summary:
- Global smart grid technology revenue will reach $494 billion between 2012 to 2020, with a compound annual growth rate of 10%, a new white paper by Navigant Research forecasts.
- 51% of smart grid investment will be spent on high-voltage direct-current transmission upgrades totaling $256 billion, plus $78 billion for distribution automation.
- Home energy management will increase significantly, demand response will expand to continually fix second-by-second power system problems and utilities will rely on real-time grid analytics, Navigant found among many interesting trends.
From the article:
Navigant Research says smart grid cybersecurity remains top of mind but bottom of budget for many utilities. Annual cybersecurity revenue is expected to increase from $370 million to $607 million over the forecast period - a relatively modest market with a relatively modest 6% CAGR, according to the research firm.
