Report: Smart Grid Market Could Double in Four Years
By: SGN Staff
A new report from market research firm Zpryme says the Smart Grid market, considered an industry in its own right, will double in four years if it remains on course.
According to the report, the Smart Grid industry was valued at roughly $21.4 billion in 2009. Zpryme says its value will hit at least $42.8 billion by 2014. The global market is predicted to grow even more forcefully, from $69.3 billion in 2009 to $171.4 billion in four years.
And the market sectors expected to gain the most from the growth are, not surprisingly, smart meter hardware vendors and software developers producing the systems for sending and managing the massive amounts of information collected by the meters.
Meter makers like Itron and Landis+Gyr that have hooked up with utilities to supply millions of smart meters should benefit immensely, as will Smart Grid networking providers like Silver Spring Networks.
The report essentially gives a thumbs up to the Recovery Act Smart Grid stimulus programs that funneled $3.4 billion in investment and demonstration grants, in addition to loan guarantees, to develop and implement an intelligent, green and secure electric grid.
Venture Beat news article
Zpryme report snapshot (pdf)
Smart Grid stiimulus awards and projects on SGN