BOSTON, Mass., Aug. 13, 2013 (GLOBE NEWSWIRE) -- What is the outlook for the global smart grid market? According to the latest report by GTM Research, Global Smart Grid Technologies and Growth Markets 2013-2020, the global smart grid market is expected to cumulatively surpass $400 billion worldwide by 2020, with an average compound annual growth rate of over 8%. China will be the largest smart grid market in the world, accounting for over 24% of the global market.
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.
FIGURE: Smart Grid Regional Forecast 2013-2020
This new report examines 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 examining the major markets and technologies from a comparative perspective, GTM Research identifies the most attractive growth opportunities for investors and utility vendors over the next eight years.
The 96-page report analyzes the five key geographies of North America, Europe, Asia-Pacific, China and Latin America; with in-depth forecasting on each area from 2013 through 2020, based on the key metrics of market segment value, percent share of the overall smart grid market, and compound average growth rate (CAGR).
FIGURE: Smart Grid Markets Analyzed In The Report
"Evolving regulatory requirements and historical IT and infrastructure investments are the biggest drivers shaping global utility demand," said Ben Kellison, research contributor to the report and Senior Analyst at GTM Research. "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."
For more information on the Global Smart Grid Technologies and Growth Markets 2013-2020 report, please visit http://www.greentechmedia.com/research/report/global-smart-grid-technologies-and-growth-markets-2013-2020.
About GTM Research:
GTM Research, a division of Greentech Media, provides critical and timely market analysis in the form of research reports, data services, advisory services and strategic consulting. GTM Research's analysis also underpins Greentech Media's webinars and live events. Our coverage spans the green energy industry including solar power, smart grid, energy storage, energy efficiency and wind power sectors.
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Source: Greentech Media