Skip to main content

Smart Grid Investment to Reach $80+ Billion in 2018

The various utility applications for communications networks and associated investment in infrastructure will grow rapidly in 2013, according to the latest market study by ABI Research.

Moreover, spending by utilities transitioning their networks to Smart Grid capabilities reached $23.68 billion in 2012.

Highlighting the growing momentum behind the spending, the 2012 total alone represents 48 percent of Smart Grid spending to date.

During the year, spending on transmission and distribution capabilities surpassed smart meter investments as utilities increasingly looked to improve their core networks and maximize the benefits of their growing Advanced Metering Infrastructure (AMI) deployments.

"Utilities are investing in the roll-out of a broad assortment of new applications and spending is driving new services from a wide range of vendors and consultants,” says Jonathan Collins, principal analyst at ABI Research.

The complexity of the new hardware, applications, and the expansive array of suppliers vying to deliver services continues to ensure that systems integrators benefit with a significant share of the spending.

Smart grid spending in 2012 was up 47.1 percent from $16.10 billion in 2011 as remaining government stimulus funds were spent in the United States and utilities around the world increased their own investments.

Even so, these remain the early years of Smart Grid investments and spending will continue to grow over the next five years to reach $80.8 billion during 2018.

The latest ABI Research report, "Utilities and Smart Grids" forecasts a number of strategic investment areas -- including AMI, Demand Response, Grid Optimization, Distribution Automation, Software and Application provision, System Integration, and connectivity.

Popular posts from this blog

Big Data Analytics Revenue to Reach $215.7 Billion

Across the globe, more leaders seek actionable insight from the customer data they've stored in huge data lakes. Worldwide spending on big data and business analytics (BDA) solutions is forecast to reach $215.7 billion in 2021 -- that's an increase of 10.1 percent over 2020, according to the latest worldwide market study by International Data Corporation (IDC). Moreover, BDA technology investment will likely gain momentum over the next five years as the global economy recovers from the COVID-19 pandemic. The compound annual growth rate (CAGR) for global BDA spending over the 2021-2025 forecast period will be 12.8 percent. Big Data Analytics Market Development "As executives seek solutions to enable better, faster decisions, we're seeing relatively healthy BDA spending across all industries. Leveraging data for insights into everything from internal business operations to the customer journey is top of mind and of strategic importance," said Jessica Goepfert, vice

Warehouse Robot Deployment Gains New Momentum

The retail and wholesale back-office infrastructure market is being transformed by technology. The warehousing industry has accelerated automation efforts due to the increased order volume and labor shortages driven by the global pandemic. In addition to technology solutions such as handheld devices with enhanced capabilities, autonomous, collaborative, and mobile robots are proving to be the fastest-growing productivity-enhancing solution in the warehouse workspace. Commercial Robotics Market Development According to the latest worldwide market study by ABI Research, global commercial robot revenue in warehouses will have a Compounded Annual Growth Rate (CAGR) of over 23 percent from 2021 to 2030 and exceed $51 billion by 2030. "Mobile robots are at the heart of the warehouse robotics market and account for most shipments and revenue. These robots, made up of Autonomous Guided Vehicles (AGVs) and Autonomous Mobile Robots (AMRs), are being used to move goods within the warehouse a

Hybrid Work: How to Enhance Employee Productivity

When you hire qualified talent for a key role and trust them to perform, you'll likely achieve the best outcome. Skilled and experienced people will deliver results, regardless of the challenges. That's a key lesson learned from the pandemic experience as most knowledge workers were asked to work from their homes. However, some resist returning to an open-plan office. It's unacceptable. Meanwhile, forward-thinking leaders decided a "return to normal" is undesirable, and in hindsight, everyone should aspire to be more accomodating than before. Therefore, location flexibility is okay. Hybrid Workforce Market Development How will people adapt to these changes? They'll apply the modern IT tools at their disposal. They'll learn new skills and thrive. Nearly 80 percent of employees are now successfully using online collaboration tools for work in 2021 -- that's up from just over half of workers in 2019, according to the latest market study by Gartner. This g