The global wind operations and maintenance market will grow to $17bn by 2020, from $10bn in 2015. This was revealed by the consulting and research firm GlobalData. Achieving this performance would result in an average growth of 11.2% of the sector over the period.

“The operations and maintenance of a wind farm is essential as it contributes to value creation, increases turbine availability – lowering downtime – and increases returns,” explained Ankit Mathur, GlobalData’s Practice Head for Power.

According to the firm’s projections, development in technology will stimulate a rapid growth of the wind technology. “Advanced connected technologies such as the Internet of Things (IoT) will enable a much more effective and efficient evaluation of wind turbines along with its associated components. The IoT platform, through its collective and predictive analytics, can alert a service provider to any machinery problems in advance and to stay away from any crucial issues,” Mathur said. Other technologies such as the direct transmission principle and the voltage control technology will also help cut cost associated with operations and maintenance of wind farms.

Fossils’ rapid decline and government incentives will also contribute to the growth of wind power industry.

Gwladys Johnson