Smart grid software market will be worth $1.3 billion in 2012

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Smart grid software market will be worth $1.3 billion in 2012

Greentech Lead Asia: The smart grid software market will
be worth $1.3 billion in 2012 and will reach $2.9 billion by 2017.

The total software and related IT services market is
forecast to reach $4.3 billion in 2012 and grow to over $8.6 billion by 2017,
with a CAGR of 15.5 percent, according to Pike Research.

“Siloes of operations are being broken down, and new
capabilities are emerging based on large-scale information management,
real-time data analysis, and the move to closed-loop systems for managing,
monitoring, and controlling the smart grid,” said research director Eric Woods,
Pike Research.

This market is marked by a mix of established IT vendors,
equipment providers, and startup technology providers. It also reflects an
uncertain jostling for position between IT and operational technology vendors.

IT giants such as IBM, HP and Oracle are expanding into
areas of operations management, while grid infrastructure suppliers such as
ABB, Siemens, and Schneider Electric are increasing their IT capability.

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