Smart meters and demand response drive growth

The global smart grid data management market will reach US$380 million in revenue by 2020, according to new research by Technavio. At present, the Asia-Pacific region accounts for 16.43% of total revenue.

The company says that the last two decades have seen the share of renewable and alternative energy sources in the global energy mix increase due to major investment from China, the US and the EU. According to its report, intermittent power generation from renewables has given rise to the need for services that enable integration and optimisation of renewable power generation and this is driving demand for smart grid management systems. Utilities need to effectively plan, forecast and manage various energy sources and to integrate more clean power onto the grid, meaning that companies supplying smart grid data management solutions are well placed to take advantage of this increasing opportunity. 

While the Americas and EMEA lead the charge, smart grid data management in APAC was valued at US$150 million last year. The report concedes that the market here is still in the early stages but is expected to grow rapidly between now and 2020; it identifies China, Australia and India as the key players. Deployment of smart meters and demand response programs will drive much of the growth.