Smart Grid to Become €6.8 Billion Industry in Europe by 2016
September 5, 2011
According to a recent report by GTM Research, The Smart Grid in Europe 2012: Technologies, Market Forecasts and Utility Profiles, the cumulative European smart grid technology market will hit €3.1 billion in 2012, with that number set to increase 120% to €6.8 billion in 2016.
The smart grid market in Europe will experience considerable development over the next five years, as utilities across the region work to meet rigorous efficiency mandates and integrate an ongoing build-out of renewable energies into the grid.
There is a confluence of progressive policy, technology advances and utility necessity propelling the smart grid in Europe. It is expected that an integrated rollout in the region over the next five years will lead to substantial deployment for each of the smart grid’s major market segments: advanced metering, distribution automation, integration of renewables, electric vehicles and utility IT systems.
While the majority of national markets in Europe are advancing smart grid goals, few if any have meaningfully engaged the end-consumer. The next step for these countries and their utilities is to demonstrate the value of home energy management or demand response technologies to their customers; consumer engagement is the key variable in the final business case for smart grid in Europe.
Copy/Paste to view the press release: http://www.businesswire.com/news/home/20110816006236/en/Smart-Grid-%E2%82%AC6.8-Billion-Industry-Europe-2016
