Pike research is a market research and consulting firm that provides in-depth analysis of global clean technology markets. Their research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and examination of technology trends. They want to provide a comprehensive view of Smart Energy, Smart Grid, Smart Transportation, Smart Industry and Smart building sectors.
They define smart energy as the range of efficient technological options available to providing electricity in a distributed fashion, for local use or for grid support. There already are a number of convergent market drivers that lead to expand availability and increasing revenue opportunities across the smart energy continuum. One of these drivers is the rising cost of maintaining the current energy system.
According to a new report from Pike Research, total revenue from smart energy and smart energy storage reached $222 billion in 2011. And by 2015, the firm forecasts the total market value will be $420 billion. That’s an increase in value of 90% in just four years.
The report demonstrates that smart energy is no longer a niche market. The smart energy market is growing at such pace that it already represents over 10% of the global annual additional capacity forecast of the International Energy Agency between now and 2020. Europe represents the largest market for smart energy today. But North America and Asia also challenge each other for a global leadership position.
The “Smart Energy Annual Report 2012″ of Pike Research provides a comprehensive view of the smart energy market across three main application sectors; the renewable energy production, energy storage and energy conversion devices. They examined market trends and issues in smart energy hotspots globaly. An Executive Summary of the report is available for free download on the firm’s website.