Global Smart Grid Market To Witness Double-Digit Growth Rates: Market To Reach Us $57 Billion In 2016
Lucintel, a leading global management consulting and market research firm, has analyzed the global smart grid market and presents its findings in "Growth Opportunities in the Global Smart Grid Market 2011-2016.
- Texarkana, TX-Texarkana, AR (1888PressRelease) December 23, 2011 - The global smart grid market has experienced double-digit growth rates over the last five years and is expected to continue its growth momentum, reaching approximately US $57 billion by 2016 with a CAGR of 13% over the next five years.
Lucintel, a leading global management consulting and market research firm, has analyzed the global smart grid market and presents its findings in "Growth Opportunities in the Global Smart Grid Market 2011-2016: Trends, Forecast, and Regional Analysis."
Lucintel's research indicates that growth in renewable energy generation sources and their integration into a common grid is one of the major drivers in the smart grid market. The high cost of installing smart grid components such as smart meters and sensors, and the maintenance and monitoring expenses of smart grid technology are challenging factors. Rising costs of electricity generation, government incentives to promote green energy, distribution of smart meters, and development in transmission facilities to provide energy to remote areas, however, are boosting the smart grid market.
During 2011-2016, the communication solutions segment is expected to grow at a higher rate as compared to other segments while the test and monitoring solutions segment is expected to grow at a slower pace. The smart grid infrastructure segment is likely to have the highest market size.
As per the study, the growth rate is expected to be the highest in Asia Pacific because of higher cumulative investments in the countries of that region. North America is expected to grow more than Europe because of higher potential in NA to install renewable energy sources with low customer penetration at present. Growth rate in ROW region is expected to be the lowest because of comparatively low energy demand and customer penetration.
Lucintel's Industry Research Report trend scenarios and forecast statistics 2011-2016; details the industry's drivers and challenges; analyzes smart grid market by regions, domains, and components; and also describes emerging trends and new opportunities in global smart grid market; smart grid market manufacturers' profiles, and more.
For a detailed table of contents and pricing information on these timely, insightful reports, contact Lucintel at +1-972-636-5056 or via email at helpdesk ( @ ) lucintel dot com dot Lucintel provides cutting-edge decision support services that facilitate critical decisions with greater speed, insight, and cost efficiency dot To learn more, visit www dot lucintel dot com dot
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