By 2014, the U.S. smart grid market is expected to double from its 2009 value of $21.4 billion to $42.8 billion, according to research from Zpryme.
Smart metering hardware and software is the sector expected to see the highest compounded annual growth rate, at 16.9 percent.
Globally, smart grid growth is projected to be even greater. By 2014, the global market should be worth $171.4 billion, compared to $69.3 billion in 2009. See the chart below for more details.
The Association of Home Appliance Manufacturers (AHAM) has laid out guidelines for establishing a smart grid in a newly released white paper at the Copenhagen Climate Conference. The U.S.-based trade group said smart-grid-enabled home appliances, through a fully functional smart grid, will significantly reduce greenhouse gas (GHG) emissions, and provide better integration and coordination of renewable energy resources.