Global Information, Inc. would like to present a new market research report "Global Smart Grid Energy Storage Market 2009-2013" by Infiniti Research Limited (Technavio).
Smart grids are rising in popularity due to urgent needs for efficient utilization of energy. More so, energy storage devices are being integrated with smart grids to enable additional supply during load balancing.
According to Technavios new report, "the Smart Grid Energy Storage market is expected to reach $1,315.7 million in 2013 growing at a CAGR of 39.7%." Among the factors that research analysts expect to contribute to growth in this market include increased adoption among residential and small commercial customers. Rising implementation of real-time electricity couples with renewable energy source integration stand among the other major drivers for this market.
"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," says a TechNavio analyst.
Despite the positive outlook, this market is not without obstacles. One example of a potential problem is that energy storage technologies have regulatory challenges during the implementation phase of smart grids. Another issue is that this market has very limited available credit or financing, which affects capital investments and R&D spending in the industry as a whole.