After the March 11, 2011 tsunami caused massive blackouts and a meltdown at a key nuclear power plant in Fukushima, Japan has now started to focus on smart grid technology, according to a report from Zpryme Research & Consulting.

The report, titled "Japan: Tsunami Wakens the Smart Grid," projects that the smart grid market will grow at an annual rate of 63.8 percent from 2011 to 2016 from this year's $1 billion to $7.4 billion, with electricity generation will grow from 1.04 billion kWh to 1.09 KWh.

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