Mexico’s smart grid market forecasts
October 21, 2011
A new report from Northeast Group, LLC titled Mexico Smart Grid Market Forecast (2011-2020) projects the total smart grid market in Mexico will reach a cumulative $8.3 billion by 2020.
Mexico trails only Brazil in terms of potential for smart grid in the Latin America region. The smart metering market in Mexico represents the biggest opportunity, with more than 21 million smart meters to be deployed by the end of the decade. Other smart grid market segments such as distribution automation, wide area measurement, and home energy management are also projected to grow strongly over the forecast period.
Like other Latin American and emerging market nations, the country faces high rates of electricity theft and power outages, both of which can be reduced through smart grid technologies.
Mexico's smart meter market alone will contribute $5.1 billion to the overall smart grid market value by 2020. This includes meter hardware, communications, IT, installation costs and professional services. The total Latin American smart metering market is expected to reach nearly 126 million meters by 2020.
In addition to smart meter deployments, Mexico is projected to invest heavily in distribution automation, wide area measurement and home energy management in the later half of the decade. These other segments of the smart grid market make up an additional $3.2 billion in cumulative market opportunity by 2020.
