Proving the Business Case for the Internet of Things

Annual SGaaS spending to hit $11.2 billion in 2023: Navigant

Iain Morris
May 20, 2014
 
Annual spending on smart grid as a service (SGaaS) technology is forecast to rise from $1.7 billion in 2014 to around $11.2 billion in 2023, according to the latest study from Navigant Research.

The market-research player says that hosted or managed services will be especially valued by smaller utilities that lack access to adequate financial and human resources.

“SGaaS solutions are a small part of the market today, but they have substantial growth potential,” says Richelle Elberg, senior research analyst with Navigant Research. “These flexible models allow utilities with financial constraints to spread project costs over several years, and can provide skilled IT professionals to utilities that may otherwise have difficulty attracting talent.”

According to Navigant, SGaaS offerings are now available for a range of smart grid applications in several categories, including home energy management, advanced metering infrastructure, distribution and substation automation communications, asset management and condition monitoring, demand response and software solutions and analytics.

Moreover, while initial adoption will come from smaller utilities – says Navigant – large utilities may find the business cases for certain functions to be very compelling over time.
 
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