Proving the Business Case for the Internet of Things

Smart grid spending to hit $30 billion in next ten years: Navigant

Iain Morris
November 6, 2014
 
Spending on smart grid networking and communications technologies is expected to total nearly $30 billion over the next ten years, according to a new study from Navigant Research.

Investments will rise in tandem with demand for higher-bandwidth technologies used for grid edge control and monitoring applications, according to the market-research player.

As a result of the rising interest in smart grid applications, the market for smart grid networking and communications technology is thriving, says Navigant, with a number of companies providing services and equipment.

In its report, the company argues that cumulative spending on smart grid communications networking and equipment will amount to as much as $30 billion between 2014 and 2023.

“Whereas the focus over the last decade was largely on smart metering systems, utilities increasingly expect their networks to support a multitude of control and monitoring functions,” said Richelle Elberg, senior research analyst with Navigant Research. “As reliability mandates spread, and distributed generation and electric vehicles proliferate, utilities’ need for visibility all the way to the grid edge will grow strongly—supporting demand for sophisticated communications solutions for the foreseeable future.”

Nevertheless, even as new and upgraded technologies appear, the market is moving towards a smaller number of standards for most major applications, reckons Navigant.

These include advanced metering infrastructure (AMI), distribution automation (DA) and substation automation SA).

As the industry moves towards more standardization and interoperability between vendor solutions, support for IP-based technologies is likely to increase.
 
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