A new report, entitled Mexico Smart Grid Market Forecast, 2011-2020, predicts that the total Smart Grid market in Mexico will reach a cumulative $8.3bn by 2020.

According to the report, recently published by Northeast Group  LLC, Mexico trails only Brazil in terms of Smart Grid potential in the Latin America region.

The report said that smart metering market represents the biggest opportunity, with over 21 million smart meters to be deployed across the country by the end of the decade.

Northeast Group said: “Mexico is well positioned to develop into a leading Smart Grid market, both in Latin America and globally.

Like other Latin American and emerging market nations, the country faces high rates of electricity theft and power outages, both of which could be reduced through the introduction of Smart Grid technologies.

Mexico is also uniquely situated to benefit from its close relationship with the US market. These benefits include Smart Grid standards, US vendors looking for new markets and a transfer of Smart Grid technical expertise.

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