Global investments in smart grid technologies will reach $200 billion by 2015, according to new market analysis.
Ubiquitous electricity has served as the foundation for numerous technological innovations in the modern world, but the electrical grid itself is based on decades-old technology and has suffered from low levels of investment for many years. However, governments and industry leaders are coming together with newfound urgency to drive an overhaul of grid infrastructure and according to a new report from Pike Research.
Grid automation initiatives will capture 84% of smart grid investment through 2015, compared to just 14% for advanced metering infrastructure (AMI) and 2% for electric vehicle management systems.
Pike Research also anticipates that smart grid revenues will peak in 2013 after several years of a strong push by key governments, and will thereafter be a smaller, albeit still very substantial, market.
“Smart meters are currently the highest-profile component of the Smart Grid, but they are really just the tip of the iceberg,” says managing director Clint Wheelock. “Our analysis shows that utilities will find the best return on investment, and therefore will devote the majority of their capital budgets, to grid infrastructure projects including transmission upgrades, substation automation, and distribution automation.”
The report, “Smart Grid Technologies,” analyzes the global market opportunity for smart grid technologies and applications. The report examines utility business models, regulatory factors, technology issues, and the dynamics of end-user demand. It includes profiles and analysis of 70 key players in the rapidly evolving Smart Grid industry ecosystem, as well as detailed global market forecasts through 2015, segmented by region and application.
An Executive Summary of the report is available for free download at the link below.
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