Smart Grid Technology Market Will Reach $73 Billion in Annual Revenue by 2020, Forecasts Navigant Research

  Smart Grid Technology Market Will Reach $73 Billion in Annual Revenue by
  2020, Forecasts Navigant Research

Business Wire

BOULDER, Colo. -- June 12, 2013

Although the market for smart grid technologies is already established,
representing more than $33 billion in revenue in 2012, it has grown with
little contribution from a number of countries with populations greater than
100 million, and with almost no activity in Africa, with its population of 1
billion. This suggests that the market is likely to continue robust growth for
the foreseeable future. According to a recent report from Navigant Research,
the market for smart grid technologies will reach $73 billion in annual
revenue by the end of 2020, totaling $461 billion in cumulative revenue from
2013 to 2020.

“Smart grid technologies improve the reliability and efficiency of the power
grid via the application of modern IT capabilities alongside or in place of
existing utility assets and networks,” says Bob Lockhart, research director
with Navigant Research. “However, the term ‘smart grid’ has been overused to
the point of losing its meaning. A more precise definition includes five key
applications: transmission upgrades, substation automation, distribution
automation, smart grid information and operations technology, and smart
metering.”

Of these five, by far the most capital-intensive application is transmission
upgrades, which require substantial infrastructure investments. Transmissions
upgrades will represent nearly $250 million in revenue from 2013 to 2020, or
more than half the total for the overall smart grid technology market, the
study concludes.

The report, “Smart Grid Technologies”, examines the market dynamics and most
important technology issues for smart grid technologies for the period from
2012 through 2020. The report profiles the key players in smart grid
technologies in eight categories: influential utilities, control system
vendors, telecommunications vendors, smart metering vendors, application and
services vendors, systems integrators, cyber security vendors, and standards
associations. Analysis and forecasts are presented year-by-year and
cumulatively through 2020, dissecting the market by smart grid application and
by region, with further technology segmentation within each application. An
Executive Summary of the report is available for free download on the Navigant
Research website.

About Navigant Research

Navigant Research, the dedicated research arm of Navigant, provides market
research and benchmarking services for rapidly changing and often highly
regulated industries. In the energy sector, Navigant Research focuses on
in-depth analysis and reporting about global clean technology markets. The
team’s research methodology combines supply-side industry analysis, end-user
primary research and demand assessment, and deep examination of technology
trends to provide a comprehensive view of the Smart Energy, Smart Utilities,
Smart Transportation, Smart Industry, and Smart Buildings sectors. Additional
information about Navigant Research can be found at www.navigantresearch.com.

About Navigant

Navigant (NYSE: NCI) is a specialized, global expert services firm dedicated
to assisting clients in creating and protecting value in the face of critical
business risks and opportunities. Through senior level engagement with
clients, Navigant professionals combine technical expertise in Disputes and
Investigations, Economics, Financial Advisory and Management Consulting, with
business pragmatism in the highly regulated Construction, Energy, Financial
Services and Healthcare industries to support clients in addressing their most
critical business needs. More information about Navigant can be found at
www.navigant.com.

* The information contained in this press release concerning the report,
“Smart Grid Technologies,” is a summary and reflects Navigant Research’s
current expectations based on market data and trend analysis. Market
predictions and expectations are inherently uncertain and actual results may
differ materially from those contained in this press release or the report.
Please refer to the full report for a complete understanding of the
assumptions underlying the report’s conclusions and the methodologies used to
create the report. Neither Navigant Research nor Navigant undertakes any
obligation to update any of the information contained in this press release or
the report.

Contact:

Navigant Research
Richard Martin, +1-303-493-5483
richard.martin@navigant.com
or
Laverne Murach, +1-202-481-7336
laverne.murach@navigant.com
 
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