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Global Smart Grid Market To Witness Double-Digit Growth Rates: Market To Reach Us $57 Billion In 201
Global Smart Grid Market To Witness Double-Digit Growth Rates: Market To Reach Us $57 Billion In 201
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:
Carrollton,
Texas,
United States of America
(prbd.net)
22/12/2011
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 provides 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.com . Lucintel provides cutting-edge decision support services that facilitate critical decisions with greater speed, insight, and cost efficiency. To learn more, visit www.lucintel.com.
About Lucintel:
Lucintel provides world class business intelligence and cutting edge decision support services in the area of Carbon Fiber Market. Our domain experts specialize in market entry strategies, strategic growth consulting, opportunity screening, competitive benchmarking, M & A, due diligence, swot analysis and forecasting. Let Lucintel help you make better data driven strategic decisions. Lucintel has access to hundreds of market reports, which can be used to drive your business decisions.
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Lucintel, a leading global management consulting and market research firm, has analyzed the wind energy market and presents its findings in “Growth Opportunities in Wind Energy Market 2011–2016: Materials, Market and Technologies.
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