According to GTM Research, the global smart grid market is projected to grow with an average compound annual growth rate of over 8%. The cumulative value of the smart grid market is expected to exceed $400 billion by 2020. Geographically this includes Asia-Pacific, China, Europe, Latin America, and North America.
GTM Research breaks the smart grid maket down into seven segments;
- Smart Grid Data Analytics
- Network Operations Software
- Transmission Upgrades and Automation
- Smart Distribution
- Services and Consulting
The global opportunity and growth rate for thesse technologies and services are plotted according to their share of the smart grid market (relative to the other technologies and services) and their relative compound average growth rate (CAGR). The size of the bubble represents the overall value of that market in US$. The graph shows that the fasting-growing smart grid market segments globally are analytics (CAGR 17.34%) and AMI (CAGR 9.6%). All other smart grid markets are growing at between 3.5% and 7.5%.