Market Research Report
ASEAN Smart Grid Market: Focus on Product Offerings, Technology (AMI, T&D Automation, Consumer Energy Management, Energy Storage), End User, Communication Tech, Countries, Cost-Benefit, Investment - Analysis and Forecast, 2019-2024
|Published by||BIS Research Inc.||Product code||931361|
|Published||Content info||284 Pages
Delivery time: 1-2 business days
|ASEAN Smart Grid Market: Focus on Product Offerings, Technology (AMI, T&D Automation, Consumer Energy Management, Energy Storage), End User, Communication Tech, Countries, Cost-Benefit, Investment - Analysis and Forecast, 2019-2024|
|Published: March 30, 2020||Content info: 284 Pages||
The ASEAN smart grid market is projected to grow from $1,248.8 million in 2019 to $2,949.6 million by 2024, at a CAGR 18.76% from 2019 to 2024.
The increasing demand for energy efficiency and the need for transparent energy consumption mechanism has propelled the need for smart grid in the ASEAN market. Moreover, there is an increased concern to reduce transmission and distribution losses across the supply chain to reduce power outages. Furthermore, the rising share of renewable energy in the energy mix can lead to congestion and complexity within the grid. Therefore, smart grid using transmission and distribution automation software, demand response technology, and advance metering infrastructure will mitigate the abovementioned issues, which is currently existing in the traditional grid. Therefore, the growth of the market is likely to be encouraged by the abovementioned factors, along with the growing digitalization in the ASEAN countries.
"Consumer energy management is emerging as one of the prominent technologies in the ASEAN smart grid market. Consumers at residential households, commercial end user, and at the manufacturing industries are using this technology to monitor and control their energy demand. Catering to the residential households, the consumer energy management software, known as smart home controller, communicates with the all the household components. The batteries in smart homes get charged through the rooftop solar panel throughout the day. The electricity stored in the batteries are also used to charge the electric vehicles. The surplus electricity generated is fed to the electrical grid. The consumer energy management technology in smart grid works on demand response programs. With demand response programs, the electricity consumption can be altered depending on the supply of electricity during peak demand."
Scope of the ASEAN Smart Grid Market
The ASEAN smart grid market research provides a detailed perspective regarding the smart grid product offerings, technologies, and the impacted end users. Market size estimation and forecast has been provided for the entire region, for individual countries and for the respective market segmentations. The purpose of this market analysis is to examine the impact of smart grids in ASEAN countries in terms of factors driving the market, business trends, technological developments, and funding scenario, among others.
The report further takes into consideration the market dynamics and the competitive landscape along with the detailed financial and product portfolio of the key players operating in the market. The ASEAN smart grid market report is a compilation of different segments including market breakdown by product offerings, technologies, end users, and countries. The report also includes a comprehensive industry analysis chapter which includes comprehensive illustration of the smart grid ecosystem, key regulatory bodies and their impact on ASEAN smart grid market , investment and funding landscape for smart grid projects in the region, stakeholder analysis, key consortiums and associations, and cost benefit analysis of smart grids in the region.
ASEAN Smart Grid Market Segmentation
The ASEAN smart grid market by end user has been segmented into generation, transmission, distribution, and consumption. In 2019, the distribution segment accounted for the largest share in the market as a result of the increasing necessity for advance metering infrastructure. However, during the forecast period, consumption segment is expected to display the highest growth owing to the increasing demand for transparent billing mechanism depending upon the time of use across consumers during the peak load hours.
The trends in the ASEAN smart grid market vary across different countries. Singapore and Malaysia currently hold a prominent market share in the ASEAN smart grid market, owing to constant product innovation, expansion of automated technologies in small-scale holdings, and favorable government support in terms of initiatives and regulations to promote renewable energy. In 2019, Singapore was witnessed to be the frontrunner in the market. During the forecast period, Thailand and Vietnam are expected to flourish as one of the most lucrative markets for smart grid technology providers, owing to governmental initiative to make these two countries as smart nation. Also, these countries in this ASEAN region present immense scope for market development, owing to the increasing urban population size and growing market penetration of advance technologies such as electric vehicles charging infrastructure and vehicle to grid.
Key Companies in the ASEAN Smart Grid Market
The prominent players in the ASEAN smart grid market include Itron Inc., General Electric, Autogrid Systems, ABB Ltd. Siemens AG, Schneider Electric, Enel X, S&C Electric, Aclara Technologies, Tantalus Systems, Eaton Corporation, Landis+Gyr, Honeywell International, Wipro Limited, IBM Corporation, Mitsubishi Electric, Oracle Corporation, Fujitsu Limited, Esyasoft Technologies, eSmart Systems, Kamstrup LLC, Sympower, EDMI Ltd., Holley Technology, Prominent GmbH, Krizik Malaysia Sdn Bhd, Smart Meter Technologies, Singapore Power, Tenaga Nasional Berhad, Xylem Inc., Cisco Systems, Huawei Technologies, Trilliant Networks, Nokia Networks, Rockwell Automation, Johnson Controls, Ingersoll Rand, ENGIE, and Emerson Electric.
Energy Management and Automation Companies
Information and Communication Technology Companies
Other Smart Grid Companies