Smart Grid market to expand
The worldwide Smart Grid operations management software and services market will grow more than 65 percent over the next five years, representing a compound annual growth rate (CAGR) of 11.1 percent, according to a new report published by the ARC Advisory Group. The report projects this substantial growth will result from a concurrent wave of new technology and worldwide infrastructure spending driven by sovereign investment programs focused on technology to improve grid reliability, efficiency and information management capabilities. Smart grid operations management software is a critical element in the development of more efficient and reliable electric grids.
The United States, China and India are the countries currently allocating the greatest amount of public capital to grid expansion and improvement initiatives, according to ARC.
"The concurrent deployment of the $8 billion in U.S. smart grid investment, $180 billion in Chinese grid investment and $10 billion for the Indian R-APDRP program is serving as the catalyst for exceptional growth in this technology-driven market," according to Clint Reiser, enterprise software analyst, and the principal author of ARC’s Smart Grid Operations Management Software & Services Worldwide Outlook. The growth is also being supported by expansion projects in emerging markets, such as the Middle East and Latin America.
For more information on this study, visit www.arcweb.com/res/sgom.