TechNavio, the market intelligence platform from Infiniti Research, announced the launch of its report, Global Smart Grid Energy Storage Market 2009 -2013.
Smart grids have been enabling the integration of renewable energy sources like wind and solar power generation systems to an electric grid. Furthermore, energy storage devices are increasingly being integrated with smart grids to provide additional supply during load balancing. The popularity of smart grids has been boosted with the pressing need for efficient energy utilization.
TechNavio™s analyst says, With environment friendly electrical distribution becoming the trend of the day, electrical grids across the world will soon be upgraded to smart grids. Various government policies to develop alternative energies will further encourage this development.
According to TechNavio, the Smart Grid Energy Storage market is expected to reach $1,315.7 million in 2013 growing at a CAGR of 39.7%. Various factors are expected to contribute to this growth including increased adoption among residential and small commercial customers. Other key factors that will drive this market include increasing implementation of real-time electricity coupled with the integration of renewable energy sources.
This report has been prepared based on an in-depth analysis of the smart grid energy storage market with the focus on trends across geographies. Inputs from industry experts, vendors and end users were used in the analysis. The report includes a market size estimation and forecasts, vendor landscape, drivers, challenges and trends.
For further information on this report please visit: https://www.technavio.com/content/global-smart-grid-energy-storage-market…
Global Smart Grid Energy Storage Market 2009-2013
