NEW YORK, Nov. 14, 2012 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:
http://www.reportlinker.com/p01029657/Growth-Opportunities-in-Global-Smart-Grid-Market-2012-2017-Trends-Forecast-and-Market-Share-Analysis.html#utm_source=prnewswire&utm_medium=pr&utm_campaign=Energy_technologyBackground: The global smart grid market has grown steadily over the last five years and is expected to continue its growth momentum during 2012-2017. The market is forecast to reach approximately US $64.3 billion by 2017 with a CAGR of 17% over the next five years. Asia Pacific (APAC) is anticipated to lead the market due to greater generation potential and an increase in consumption rates in that region. Lucintel, a leading global management consulting and market research firm, has analyzed the global smart grid market and presents its findings in "Growth Opportunities in Global Smart Grid Market 2012-2017: Trends, Forecast, and Market Share Analysis." As indicated by the study, the North America region emerged as the leading smart grid consumer in value, replacing Europe, where smart grid projects initially were implemented and with comparable growth rates. Economic recession and sharp declines in most US market segments resulted in a decrease in growth rates in 2008. Globally, the smart grid market grew until 2008, but a huge drop in 2009 caused its progress to be much lower than worldwide GDP growth. Overall, the global smart grid market growth rate declined by half post-2008 compared to 2006-2008. In 2008, due to the impact of global recession, investments in smart grid decreased considerably along with revenue. After 2008, many new players entered the market, which contributed to the increase in market size by the end of 2011. Research by Lucintel indicates that in APAC countries such as Japan, Korea, and China, smart grid development began more recently. Rest of the World (ROW) nations such as Australia and Brazil usually import smart grid components from APAC and Europe. Growth rates for 2006-2008 were higher for North America and Europe, although after the global economic recession, the growth rates in APAC and ROW surpassed these regions. The report, which provides trend scenarios and forecast statistics for 2012-2017, details industry drivers and challenges; compares properties and prices; highlights major smart grid suppliers, describes various smart grid properties and manufacturing processes; and more. This unique report from Lucintel is expected to provide you valuable information, insights, and tools needed to identify new growth opportunities and operate your business successfully in this market. This report is estimated to save hundreds of hours of your own personal research time and is anticipated to significantly help in expanding your business in this market. In today's unstable economy, you need every advantage that you can find to keep you ahead in your business.