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Global Smart Grid Market
Frost & Sullivan, Aug 2011, Pages: 82
Investments for smart grid technologies are expected to flourish through 2017. The objective of this study is to validate and forecast the global smart grid market by geographic region and by key technology categories. Technologies discussed include advanced meter infrastructure, demand response, distribution grid management, and high voltage transmission technologies. This study also discusses key opportunities and challenges experienced in each region as well as provide analysis of the competitive environment and identifies key market share leaders.
Market Overview
The electric grid is an extremely crucial, complex and vulnerable component in today's economy. The economic development of a country or region is dictated by the degree of power availability, consumption, reliability, and quality. In an increasingly competitive market that is being fueled by fears of the irreversible impact of CO2 emissions and other pollutants, countries are actively re-evaluating and modernizing their existing grid. This strategy has been referred to many names, including intelligent grid, digitalized grid, modern grid, future grid, and, most notably, smart grid. Strategies and objectives vary depending on priorities and the current state of a country or region. Furthermore, decisions to adopt smart grid are made locally (at the city, state or regional levels) or by a country as a whole. This study aims to shed some light on the developments that are taking place in the three major regions of the world - North America, Europe, and Rest-of-World (ROW).
Key objectives include:
- To validate market size and forecast the market for key smart grid categories by geographic region
- To determine market trends by region
- To identify market opportunities and challenges
- To analyze the competitive environment
- To determine key market share leaders
Geographic Scope:
This study takes a look at the following regions:
- North America: United States and Canada
- Europe: Western and Eastern Europe
- Rest-of-World: Asia, Latin America, and the Middle East
Product Scope & Definitions
As electricity cannot be stored, its production must be adjusted to demand, which is constantly fluctuating. A typical power network consists of electric power generation, power transmission, and distribution systems. Frost & Sullivan defines smart grid as technologies aimed at automating, improving the efficiency, and increasing the availability of the electric grid—ranging from generation to transmission systems to distribution levels.
At a conceptual level, the proposed technologies for the smart grid consist of a mix of new, developing, and mature technologies. The U.S. National Institute of Standards and Technology (NIST) Smart Grid Conceptual Model categorizes smart grid into seven different domains and several subcategories under the macrolevel domains.
For the purpose of this study, our analysis will center on:
- Advanced meter infrastructure
- Demand-side management
- Distribution grid management
- High-voltage power transmission
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