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Despite the background of a troubled world economy the pure Smart Grid business has grown from a world market value in 2010 of $16 billion to approximately $22 billion in 2011. To keep on track to achieve full penetration by the year 2030 in order to meet CO2 targets Memoori estimates that it will need to grow by a CAGR of 23% to reach its zenith of $155 billion in 2022.
It is therefore currently in its embryo stage of development and is also heavily biased to one segment of the market, Smart Meters. The AMI business complete with Smart Meters took almost 40% of the pure Smart Grid market in 2010 but will account for only 9% market share of the total cumulative investment of $2 trillion needed to achieve a global Smart Grid at full penetration.
