Smart grid interface software business worth $1 Billion by 2016
In many developed countries, industrial and commercial buildings consume 40 percent of all generated electrical power
London — In many developed countries, industrial and commercial buildings consume 40 percent of all generated electrical power. Interfacing the smart grid with this building stock provides opportunities to balance electrical supply and demand particularly as smart buildings are already fitted with fully automatic DDC controls.
Much of the technology is already in place for both smart grid and smart buildings to benefit from interfacing and integration.
Memoori predicts that the average annual aggregated spend on both the smart grid side and smart building side for interface software will be approximately $1 billion in 2016 and demand will peak in 2020 at $2.2 billion. The current global spend on interface products for smart buildings’ not likely to be exceeding $100 million.
In the U.S., about 80,000 sites in the commercial sector offer a high propensity for smart building to smart grid interfacing. The world population will be over 250,000 buildings.