FRAMINGHAM, USA: IDC Energy Insights today announced the availability of a new in-depth and focused study that assesses and forecasts the intelligent grid opportunity for North American electric utilities.
Findings from the study, North American Intelligent Grid Utility Spending Forecast, reveal that information and communications technologies (ICT) spending on intelligent grid technology will increase at a CAGR of 15.1 percent to reach $17.5 billion by 2013.
"The intelligent grid is a rapidly growing area, yet little hard data has been available in the past to provide market players with a validated assessment of the market’s status and direction – particularly in terms of spending," said Marcus Torchia, research manager, IDC Energy Insights, Intelligent Grid Strategies.
"To understand the magnitude and timing of ICT investments, we surveyed more than 80 utilities in U.S. and Canada to help our industry clients in their strategic planning. The result is a comprehensive forecast of spending and adoption of key smart grid ICT technologies across multiple utility segments."
Key findings of this ground-breaking research include the following:
* The investor-owned utility segment leads in spending on intelligent grid technology investments through the forecast period;
* Intelligent metering/AMI projects act as a springboard for business process transformation and further technology investment;
* There is an increase in pilot project activity accompanied with expectations for longer trial periods which provide ample opportunity for vendor learning as utility investment focus shifts in forecast period.