Smart Grid market in China, Japan, South Korea to hit $19B by 2016, according to GTM Research

Source: GTM Research

Asia is quickly becoming a center of global smart grid activity. The cumulative smart grid market in China, Japan and South Korea is currently valued at US$8.5 billion, with that number forecasted to increase to $19 billion by 2016, according to GTM Research's latest market report, The Smart Grid in Asia, 2012-2016: Markets, Technologies and Strategies. 

A clear understanding of the energy scenarios in China, Japan, and South Korea, as well as their respective smart grid technology and deployment trends will be crucial to achieving meaningful entry in Asia. 

PennEnergy's Research area offers an analysis of the impact of smart grid technology.

"We expect to see the smart grid in Asia move forward at a breakneck pace," said Kamil Bojanczyk, the report's lead author and an analyst-at-large with GTM Research. "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."

Bojanczyk indicated that each country's growth will be characterized by the specific needs of their utilities and existing grids. The vast majority of smart grid investment in China centers around transmission, distribution automation and automatic metering reading (AMR) to support a developing grid and robust renewable energy build-out.

In 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.

While in South Korea, the market is developing quite differently; for the country with the most reliable grid in the world, South Korea and its chaebols are looking to develop next-gen smart grid technologies across all segments primarily for global export.

In addition, the report identifies the leading strategies for addressing each of Asia's smart grid markets, and analyzes 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.



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