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Greentech Media Webinar Highlights "The Networked Grid 150" Report

2 min. read

I just got off a Greentech Media webinar on their new report, "The Networked Grid 150." Here's a brief overview of what the webinar covered:

What does 2013 hold for the smart grid market? As the industry continues to evolve rapidly, a vibrant ecosystem of vendors is competing for a share of the estimated USD $500 billion global utility to be spent on smart grid initiatives by 2030. Traditional utility solution providers, tangential entrants into the industry and pure play smart grid vendors are all converging around the smart grid value proposition over the short, medium and long term.

As we move into 2013, GTM Research is publishing the next edition of The Networked Grid 150 report, the industry's leading compendium of market players, vendor rankings, competitive positioning and market maturity assessments for each smart grid segment.

Now, here are a few highlights from the webinar:

  • The smart grid is growing rapidly, at rates of 20%-30% per year; this is impressive for a sector that only got going 6-7 years ago, and that has had to deal with a tremendous amount of economic uncertainty during that period.
  • The market potential is as high as $1 trillion over the next 20 years.  Given that we're not even close to that yet, this implies tremendous potential for growth.
  • The market for advanced meters in the U.S. is still in its early stages, with 25 states currently having under 25% market penetration.
  • Given the enormous volume and velocity of data coming from smart meters, the data analytics sector has huge potential upside.
  • In the world market, U.S. firms have their best opportunities to compete on data analytics and quality, not so much on hardware solutions.
  • To date, North America has made up 50% or more of the smart grid market, but that will decline as Asia - China, Japan, South Korea - and other regions grow rapidly in coming years.
  • U.S. firms can compete in those regions through partnerships with dominant, local vendors, as well as through high-quality information technology solutions.

In sum, the smart grid is a dynamic, rapidly growing industry that offers tremendous potential in coming years. It's definitely will pay to keep a close eye on.