A new study by GTM Research expects the global smart grid market to cumulatively surpass $400 billion worldwide by 2020, with China accounting for more than 24 percent of the total market share. However, the Global Smart Grid Technologies and Growth Markets 2013-2020 also notes, “However, as smart grid implementations and applications begin to develop further in various geographies, the once-linear depiction of a smart grid roadmap is becoming increasingly multidimensional. There are of course, common architectural, hardware and process components that will be deployed regionally; however, the deployment and maturity of applications will evolve differently depending on local drivers, requirements, and technological appetites.”
The study also analyzes the deployment of smart grid technologies and services globally “from the perspective of growth and market share, featuring comprehensive financial forecasts along with highlights of regional trends, analysis, and opportunity across established and emerging smart grid markets.”
By looking at the major markets and technologies from a comparative perspective, the 96-page report—which analyzes the five key geographies of North America, Europe, Asia-Pacific, China and Latin America—identifies growth opportunities for investors and utility vendors over the next eight years.
Ben Kellison, research contributor to the report and Senior Analyst at GTM Research observes, “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.”
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