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By Jesse Berst

Although the rate has now peaked, "growth will stabilize at a compound annual growth rate of 26.6 percent between 2010 and 2017" – still a tremendous rate when you consider that the U.S. economy is growing at less than 3% and even China at less than 10%.

Why the continued strong growth? Saeed cited, among other factors, continuous and strong demand for distribution grid management, including distribution automation and substation automation.

The report will be good news to smart grid vendors and investors. Many had come to believe that the North American market had stalled. In fact, it appears that the growth rate has slowed, but continues to be extremely robust.

Jesse Berst is the founder and chief analyst of Smart Grid News.com. He consults to smart grid companies seeking market entry advice and M&A advisory. A frequent keynoter at industry events in the US and abroad, he also serves on the Advisory Council of Pacific Northwest National Laboratory's Energy & Environment directorate.

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