Smart grid market in China, Japan and South Korea to surge to US$19 billion

June 4, 2012: The cumulative smart grid market in China, Japan and South Korea is to increase to US$19 billion by 2016, from the present US$8.5 billion. This is according to GTM Research's latest market report, The Smart Grid in Asia, 2012-2016: Markets, Technologies and Strategies.

Kamil Bojanczyk, the report's lead author and an analyst-at-large with GTM Research, said last month: "We expect to see the smart grid in Asia move forward at a breakneck pace. Over $45 billion in funding has been earmarked by governments and utilities across China, Japan and South Korea, with the clear majority of those funds and opportunities originating in the Chinese market."

Each of these countries will have specific needs and growth patterns depending on existing infrastructure:

• China: The vast majority of smart grid investment in China centres around transmission, distribution automation and automatic metering reading (AMR) to support a developing grid and robust renewable energy build-out.
• Japan: The sunsetting of all of the country's nuclear plants has created an acute need for demand response, home energy management and smart meter deployments.
• South Korea: For the country with the most reliable grid in the world, South Korea is looking to develop next-gen smart grid technologies across all segments primarily for global export.

The report identifies the leading strategies for addressing each of Asia's smart grid markets, and analyses the companies that are currently winning big. This list includes; ABB, Accenture, BPL Global, Echelon, Freescale, GE, Holley Metering, Moxa, RuggedCom, Siemens, State Grid Corporation of China, Wasion, XD Electric, XJ Group. (Source: GTM Research)
 

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