Pike Research Launches Smart Grid Intelligence Service
Jan 22, 2010
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Market research firm Pike Research has launched a new Smart Grid Advisory Service, a subscription-based information tool that provides market intelligence and strategy insights for companies in the rapidly evolving energy technology sector. The service covers grid automation, smart metering, and energy management applications that are defining the next generation of the electrical grid.
“The worldwide electrical grid is perhaps the greatest technical innovation of the 20th century, delivering the life blood for technology advances in computing and communications that have occurred in recent decades,” said managing director Clint Wheelock. “Ironically, however, the grid itself has not yet taken full advantage of the integrated intelligence of the IT and telecom products that it enables. But all of that is changing quickly now, and this transition will yield significant innovation for electricity customers, as well as a period of dramatic transformation for the utility industry.”
As part of its Smart Grid service, Pike Research’s industry analysts offer market insights, covering specific technology and business sectors as well as overall market conditions and trends. Research reports include an in-depth examination of business models, technology issues, policy and regulatory factors, the competitive landscape, and market sizing, segmentation and forecasting.
A few of Pike Research’s key forecasts about the emerging smart grid industry include the following:
• Smart Meter installations will grow quickly over the next several years, with global penetration rates reaching 18% by 2015. Penetration will be highest in North America at 56% and Europe at 39%, and total installed smart meters will reach 250 million by that time.
• Despite the growth in advanced metering infrastructure (AMI), smart meters are just the beginning with regard to the broader smart grid market opportunity. Grid automation initiatives including transmission upgrades, substation automation, and distribution automation will represent 84% of the total smart grid market.
• Microgrids that enable “islanded” power generation and distribution will be another important growth market in the coming years, with U.S. $7.8 billion in cumulative investment by 2015. North America will be the leading region for microgrid deployments.
• Cyber Security for the smart grid is an area of increasing concern for utilities worldwide, and this market will grow from $1.2 billion in 2009 to $4.1 billion by 2013.
• Home Energy Management tools including in-home display devices, web dashboards, and mobile applications represent a vital user interface for the smart grid, and Energy Information Display users will reach 28 million worldwide by 2015.
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