Market Research Report
Asia-pacific Smart Grid Market Forecast 2021-2028
|Published by||Inkwood Research||Product code||991398|
|Published||Content info||133 Pages
Delivery time: 2-3 business days
|Asia-pacific Smart Grid Market Forecast 2021-2028|
|Published: March 1, 2021||Content info: 133 Pages||
The Asia-Pacific smart grid market is anticipated to project a CAGR of 10.93% during the forecast period, 2021-2028. The surging initiatives of smart cities in developing countries like India, the increasing need to link rural areas with national grid systems, and the growing investments in smart meters and smart grid technology propel market growth.
Thailand, China, Singapore, Indonesia, South Korea, Australia & New Zealand, India, Japan, and Rest of Asia-Pacific, are evaluated for the Asia-Pacific smart grid market growth analysis. The smart grid is closely associated with the smart community in Japan. The smart communities focus on energy issues, along with increasing stakeholders' involvement. Smart meters are one of the central measures in the country's strategy for smart grids. Singapore entails one of the most reliable electricity systems in the world. In comparison to other systems, the country has several smart grid features built-in, like the SCADA (Supervisory Control and Data Acquisition) system, enabling remote monitoring and control of key installations. The partnerships and collaborations among the market players are set to benefit the market. Further, three new initiatives were announced in 2019 to supply households with more electricity usage information. In Australia, the smart grid is the sought-after solution to tackle the increasing electricity costs, political pressure to shut down coal-fired power stations, and the aging infrastructure. The investments are expected to enhance the operations of utility firms and provide gird reliability. Such factors are expected to boost the market growth.
Wipro Limited, International Business Machines Corporation, Cisco Systems Inc, Sensus Inc, Amdocs Corporation, etc., are some of the market's leading companies.