Growth opportunities in US smart grid market 2012-2017 report provides trend scenarios and forecast statistics
Friday, Nov 23, 2012
Research and Markets (http://www.researchandmarkets.com/research/73kt4r/growth) has announced the addition of the "Growth Opportunities in US Smart Grid Market 2012-2017: Trends, Forecast, and Market Share Analysis" report to their offering.
“Growth Opportunities in US Smart Grid Market 2012-2017: Trends, Forecast, and Market Share Analysis”
The US smart grid market is expected to continue its double-digit growth momentum of the last five years to reach approximately $26.7 billion by 2017 with a CAGR of 13% over the next five years. Growing use of renewable energy sources and their integration into a common grid is likely to drive the market over the forecast period.
As the study indicates, the communication solutions segment is expected to grow more rapidly than other segments. The test and monitoring solutions segment is likely to experience slower growth, but the smart grid infrastructure segment is forecast to have the largest market size, followed by the communication solutions segment. An increase in smart meter penetration among customers is anticipated to be the primary growth driver for this expansion. Other factors affecting the market include technological advances, development of smart meters, and increasing electricity generation prices, growth in demand conditions, government incentives promoting green energy, and development of transmission facilities to provide energy to remote areas.
In the next five years, the T&D segment is expected to have the highest growth rate while the utilities segment market is likely to dominate the market by value by 2017. The consumers segment is expected to have both the slowest growth rate and the smallest market by value. The report, which provides trend scenarios and forecast statistics for 2012-2017, details industry drivers and challenges, covers emerging trends, and highlights major smart grid manufacturers, also describes various smart grid properties, manufacturing processes, and more.
Source: Business Wire