The smart grid market has shown significant growth over the past decade, and as metering infrastructure advances, the possibility of integrating all types of energy into the grid become increasingly possible, including renewable sources.
Research has predicted that the global smart grid market will reach $118.1 billion by 2019. This means that the industry will be growing at a compound annual growth rate of 18.2% from 2013 to 2019.
In 2012 the global market was valued at $37.7 billion by Transparency Market Research, which also provides these updated figures.
The demand is expected to be driven by not only the imbalance of power demand and increasing transmission and distribution losses, but also the increasing need for a reliable and quality power supply, of which the smart grid optimization will efficiently achieve.