The smart grid market will be worth over US$400 billion by 2020, according to a report by market analysts GTM Research. The paper, called Global Smart Grid Technologies and Growth Markets 2013 – 2020 says the global smart grid industry will experience 8% annual compound growth.
With many of the world’s power grids in need of upgrading or, for less developed areas, need implementing, smart grids have become a hot topic, and an area of accelerated growth. This is reflected in the report, which analyses the smart grid industry by geographic region, divided into five continents, plus China as a stand-alone region that has been identified as expected to have the greatest growth – accounting for 24% of the global market.
Individual market segments such as distribution, advanced metering, data analytics and network operations software are examined for growth potential and anticipated market share of each.
