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The global smart grid market is expected to grow from US$4.5bn to $15.8bn by 2015, according to a report by Lux Research.
The report states that countries around the world are planning to add intelligence to their power grids, and investment in the sector is now expected to increase rapidly.
“The smart grid offers huge opportunities for investors, companies and utilities. But many of those opportunities are fast-moving targets,” said Jacob Grose, a senior analyst at Lux Research, and the report’s lead author.
“The most successful players will be those who can navigate a shifting landscape of market segments, and partner with companies able to capitalize on opportunities before their competition,” he added.
According to the report, the measurement and communication segment of smart grids has the early momentum and is expected to top $5bn by 2015. smart meters and supporting networking infrastructure technologies are seeing the earliest growth, as governments and utilities recognise that better management of electrons first requires better management of information across the grid.
It also states that the analysis and services segment is poised for explosive growth. Led by demand response applications, analysis and services revenues could make up the largest piece of the smart grid pie by 2015. While revenues are currently below $1.4bn, companies in this sector will likely see them grow at a 30% CAGR, leading to revenue totaling over $6.7bn by 2015.