Wind Forecasting and Data Analytics Revenue Will Surpass $300 Million by 2020

May 29, 2013

Record worldwide growth for wind power in recent years has led to increasing need for variable wind generation to integrate effectively on the larger power grid.  As a result, wind forecasting and data analytics technologies have become a key element in the rapid deployment of wind plants.  According to a new report from Navigant Research, annual revenue from meteorological towers, or met towers, and remote sensing devices for wind forecasting will surpass $300 million by 2020.

“Wind, as a fuel, is free, but wind plants are capital-intensive and require exhaustive study,” says Feng Zhao, managing consultant with Navigant Research.  “With wind now playing an increasingly important role in utilities’ overall energy portfolios, wind forecasting technologies and rigorous data analysis have become essential not only to improve grid integration, but also for wind turbine optimization.”

As wind turbines grow in size, the value proposition for using met towers alone is rapidly vanishing, according to the report.  A large proportion of turbine deployments in North America and Europe now use 100-meter hub heights, meaning that a typical 60-meter met tower introduces additional uncertainty at those heights.  Since most 100-meter towers are not cost-effective for project site assessment, remote sensing devices – including sound detection and ranging and light detection and ranging systems – have entered the market in recent years.

The report, “Wind Forecasting and Data Analytics”, examines the market for remote sensing devices and met towers for wind forecasting, as well as disruptive remote sensing-based wind turbine control technology.  Market drivers and barriers, along with key technology issues, are examined in detail, and profiles of key industry players, including hardware and service providers, are included.  The report also provides market forecasts for demand for and revenue from wind forecasting technologies, segmented by region, through 2020.  An Executive Summary of the report is available for free download on the Navigant Research website.

Contact: Richard Martin

+1.303.493.5483

richard.martin@navigant.com

* The information contained in this press release concerning the report, “Wind Forecasting and Data Analytics,” is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.

Register to Receive Updates

Sign up or login to receive free newsletters, research updates, access to webinars, and other analyst content from Navigant Research.

Data Services

An interactive data visualization platform with online access to global forecasts spanning the energy, utility, transportation, and buildings industries.

More Information

Research News

Rss
Global Market for Smart Grid IT and Analytics for Software and Services is Expected to Exceed $21.4 Billion in 2026
During the next decade, software as a service is expected to be the fastest-growing utility…
Read More »
Annual Smart Grid Revenue in India is Expected to Exceed $32 Billion in 2026
Country’s utilities and government regulators are focused on aggressive electrification, decentralization, and digitization efforts A…
Read More »
More than 250 Smart City Projects Exist in 178 Cities Worldwide
The global market for smart city solutions and services is expected to reach nearly $98…
Read More »
View All News

{"userID":"","pageName":"Wind Forecasting and Data Analytics Revenue Will Surpass $300 Million by 2020","path":"\/newsroom\/wind-forecasting-and-data-analytics-revenue-will-surpass-300-million-by-2020","date":"3\/27\/2017"}