Smart Grid Market to Experience Extraordinary Growth
Smart Grid Operations Management software includes daily operations management and long-term planning for electric power transmission, distribution, and substation automation. Examples of these applications include energy management systems, distribution management systems, outage management systems, market management systems, substation automation, demand response, load forecasting and planning, and other operations applications.
The worldwide Smart Grid Operations Management software and services market will grow extensively over the next five years due to a confluence of new technology and infrastructure spending driven by sovereign investment programs.
The US, China, and India are the countries currently allocating the greatest amount of public capital to grid expansion and improvement initiatives. In 2009, the American Recovery and Reinvestment Act allotted $4.5 billion ($8 billion with matching) to modernize the electric grid. A substantial amount of investment is expected to be allocated toward the installation and upgrade of smart grid software systems to control and manage grid operations.
Chinese Government and industry leaders have stated that a unified strong and smart grid system is going to be built across the country by 2020. Larger scale smart grid construction is expected to be included in China's five year development plan beginning in 2011.
In India, 87 communities have been designated as eligible for SCADA and distribution management systems under their Restructured APDRP program.
Strategic Issues
ARC predicts strong sales growth for the Smart Grid Operations Management market. However, growth rates vary through the forecast period and across the market segments such as revenue category, geographic region, application area, and utility ownership. This study helps answer questions such as:
- What world regions offer the greatest growth potential and what suppliers are best positioned to capture that growth?
- Who are the leading suppliers in this market and its segments?
- What is the growth potential of software, project services, and maintenance services within this market and when will that growth occur?
- What application areas offer the greatest growth potential and why?
- What factors are contributing to growth and what factors are likely to inhibit growth in this market?
