"Our annual report demonstrates that smart energy is no longer a niche market,"
BOULDER, Colo.--(BUSINESS WIRE)--The smart energy paradigm is gaining traction worldwide, opening a window of opportunity for transformation. A number of convergent market drivers are leading to expanded availability and increasing revenue opportunities across the smart energy continuum. These drivers include the rising costs of maintaining the current energy system as well as regulatory and policy initiatives in many countries around the world. According to a new report from Pike Research, total revenue from smart energy and smart energy storage reached $222 billion in 2011. By 2015, the cleantech market intelligence firm forecasts, total market value will be $420 billion -- an increase of 90% in just four years.
"the range of efficient technological options available to providing electricity in a distributed fashion, either for local use or for grid support."
"Our annual report demonstrates that smart energy is no longer a niche market," says research director Kerry-Ann Adamson. "The overall smart energy market is now growing at such a pace that it represents over 10% of the global annual additional capacity forecast by the International Energy Agency between now and 2020."
Pike Research defines smart energy as "the range of efficient technological options available to providing electricity in a distributed fashion, either for local use or for grid support." Thanks largely to the directed policies of the European Union, Europe represents the largest regional market for smart energy today. While North America is adding new capacity at the highest rate, it's clear that, if Asia Pacific's current development trajectory holds, then this region will challenge North America in terms of its global leadership position in annual capacity additions. Although North America is heavily reliant on the biofuel and biopower sectors for revenue and new installations in the smart energy sector today, there are a number of exciting underlying growth areas that could create a more sustainable, high value, high growth smart energy sector in North America, and indeed globally, by mid-decade.
Pike Research's "Smart Energy Annual Report 2012" provides a comprehensive view of the smart energy market across three main application sectors – renewable energy production, energy storage, and energy conversion devices – along with 15 key subsectors. The study examines key market trends and issues in smart energy hotspots around the world and includes profiles of more than 30 trendsetting companies in the smart energy space. Revenue and capacity snapshots are provided by technology and region for 2011 and 2013, with key topline forecasts extending through 2015. An Executive Summary of the report is available for free download on the firm's website.
Pike Research is a market research and consulting firm that provides in-depth analysis of global clean technology markets. The company's research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Grid, Smart Transportation, Smart Industry, and Smart Buildings sectors. For more information, visit www.pikeresearch.com