NewswireToday - /newswire/ -
Montréal, Québec, Canada, 2009/03/27 - According to a new market research report, the US market for enabling technologies for the smart grid was worth $17.3 billion in 2008. This will increase to $19.4 billion in 2009 and over $39.4 billion in 2014.
Electronics.ca Publications, the electronics industry market research and knowledge network, announces the availability of a new report entitled "Enabling Technologies for the Smart Grid".
According to a new market research report available at Electronics.ca Publications, Enabling Technologies for the Smart Grid, the U.S. market for enabling technologies for the smart grid was worth $17.3 billion in 2008. This will increase to $19.4 billion in 2009 and over $39.4 billion in 2014, for a compound annual growth rate (CAGR) of 15.3%.
The market is broken down into segments for communications; sensing, measurement and control; distributed energy generation and storage; and transmission lines. Of these, distributed energy generation and storage currently has the largest market share, worth $12.1 billion in 2008 and an estimated $13.3 billion in 2009. This segment should reach $22.1 billion in 2014, for a CAGR of 10.7%.
The sensing, measurement and control technologies segment has the second largest share of the market, worth almost $4.0 billion in 2008 and an estimated $4.4 billion in 2009. This segment is expected to grow at a CAGR of 26.0% to reach $14.0 billion in 2014.
The third largest market segment is communication technologies, which generated $1.1 billion in 2008. This should increase to $1.6 billion in 2009 and almost $3.0 billion in 2014, for a CAGR of 12.4%.
In addition to growing concerns about the U.S. electric grid's robustness and reliability, the grid was designed and built with the basic objective of keeping the lights on. Meanwhile, other concerns have become increasingly important in the political and public dialogue about the status and future of the electrical grid, particularly energy efficiency, environmental impacts and consumer choice.
Governments and utilities in the U.S. and elsewhere are investing new technologies in order to build a 21st century grid that runs more efficiently, generates higher quality power, resists attack, is self healing, enables consumers to manage their use better, and integrates renewable energy and storage technologies.
Details of the new report, table of contents and ordering information can be found on Electronics.ca Publications' website.