Smart Grid Technology Market Will Total $494 Billion in Cumulative Revenue from 2012 to 2020, Forecasts Pike Research

Tue Mar 5, 2013 11:15am EST

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BOULDER, Colo.--(Business Wire)--
The creation of the smart grid remains a colossal undertaking. Many complex
smart grid programs are underway, but the scale of what remains to be done is
enormous. The challenges ahead translate into strong growth for vendors of smart
grid technologies - transmission upgrades, automation of substations and
distribution, smart grid IT, and smart meters. According to a new report from
Pike Research, a part of Navigant`s Energy Practice, the market for smart grid
technologies will grow from $33 billion annually in 2012 to $73 billion by the
end of 2020, totaling $494 billion in cumulative revenue over that period. 

"The overlay of modern smart grid technologies onto existing grids promises
numerous benefits to utilities, including increased reliability and capacity,
reduced energy losses, and deferring or eliminating the need for new generation
resources," says senior research analyst Bob Lockhart. "These benefits reach far
beyond the business of any particular utility to underlie economic growth,
social well-being, and the shift to energy sources that are less damaging to the
environment." 

There is no single "smart grid solution" that will work for all utilities,
according to the report. Utilities are likely to take individual approaches to
smart grids, some starting with smart metering while others begin with
transmission upgrades. However, the number of smart meter deployments (estimated
at a total of 832 million smart meters during the 2011-2020 timeframe) implies
that quite a few utilities have yet to set out on an advanced metering
infrastructure course but are likely to do so over the coming seven years. 

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 Pike Research
website. 

About Pike Research

Pike Research, which joined Navigant`s global Energy Practice on July 1, 2012,
provides in-depth analysis of 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 Pike Research can be found at www.navigant.com/pikeresearch. 

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 Pike 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
Pike Research nor Navigant undertakes any obligation to update any of the
information contained in this press release or the report.

Pike Research
Richard Martin, +1-303-997-7609
richard.martin@navigant.com
or
Laverne Murach, +1-202-481-7336
laverne.murach@navigant.com

Copyright Business Wire 2013

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