Smart grid technology combines traditional grid infrastructure with the advantages of advanced internet technology, with the aim of improving the efficiency of electricity supply as well as decreasing consumption by providing real-time information. The global smart grid market is expected to experience strong expansion during the following decade. However, the industry faces two crucial issues which remain to be addressed in the coming years: the merging of interoperability standards and more consistent integration of renewable energy into the grid. Once those two obstacles have been resolved large scale deployment of smart grid projects will become reality. Visiongain calculates that global smart grid market in 2012 will total $33.91bn.
The growth in smart grid expenditure will be fuelled by large public and private investments in Asia Pacific, Latin America and North America. Europe, as a more developed smart grid market will see slower growth which will be in the short run negatively influenced by the weak economic climate across the EU. The smart grid market within the Middle East and Africa is currently fairly underdeveloped, however it holds a huge potential for growth during the following decade. The overall spending on smart grid infrastructure is tightly linked to governmental support, since public funds as well as favourable regulations are essential for the development of the market.
Though the industry will be faced with the restraints of fiscal austerity, lack of customer awareness and an incomplete regulatory framework, the global smart grid market is likely to provide substantial opportunities for potential investors. This report offers an examination of the smart grid market over the next decade, providing detailed market forecasts for each of the regional markets and offers in-depth analysis of the opportunities and challenges facing companies in the smart grid market throughout the world. The various drivers and restraints of the market are evaluated in order to provide readers with specific insights into the future direction of the smart grid market.
The Smart Grid Market 2012-2022 report includes 66 tables, charts and graphs quantifying, analysing and forecasting the global smart grid market in detail, providing information on the 5 regional smart grid markets and analysis of the 4 smart grid submarkets. Interviews with six experts involved in the smart grid market further underpin visiongain’s analysis and forecasts. In addition, the report offers profiles of 50 of the leading companies involved in the smart grid business.
Visiongain’s The Smart Grid Market 2012-2022 report will be valuable to those already involved in the smart grid market or to those wishing to enter this important market in the future.
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