Smart grid IT revenue projected to double by 2024

May 05, 2015 //By Rich Pell
Smart grid IT revenue projected to double by 2024
Smart grid information technology (IT) revenue is expected to double by 2024, according to a new report by research firm Navigant Research. At the same time, IT systems and analytics are projected to be a significant - and increasing - portion of utility smart grid investment over the next 10 years.

The report ( Smart Grid IT Systems ), which looks at global market forecasts for utility smart grid IT software and services through 2024, projects worldwide revenues for smart grid IT software and services to grow to $17.1 billion in 2024 from $8.5 billion annually in 2014. Until now, the ramp up in smart grid technology investment has been slower than forecast, according to the report, perhaps due to cautious return-on-investment expectations on the part of utility executives and/or regulators.

However, continuing advances in smart grid technology - such as new sensing devices in the grid and the ability to monitor real-time performance on mobile devices - are offering increasing opportunities for utilities to increase efficiency, reduce costs and better interact with customers. As more deployments provide market validation, investment in these systems is expected to accelerate, the report finds.

The study discusses the potential benefits and challenges in deploying new IT systems and describes a dozen major utility IT applications. It also considers global market forecasts for utility smart grid IT software and services segmented by category, application, and region. In-depth profiles of numerous vendors involved in the utility smart grid IT space are also included.


Vous êtes certain ?

Si vous désactivez les cookies, vous ne pouvez plus naviguer sur le site.

Vous allez être rediriger vers Google.