The Asia Pacific Smart Grid Market should witness market growth of 18.0% CAGR during the forecast period (2022-2028).
Predictive maintenance is one of the most important Internet of Things (IoT) initiatives based on the grid in power plants, energy distributors, and utilities. The foundation of operations is the use of expensive infrastructure and equipment. With cutting-edge smart grid technology for security and energy grid management, stakeholders may more effectively monitor their assets, anticipate depreciation and failure, and plan repair.
Machine learning applications are already widely used in the IoT sector, and smart energy grid IoT initiatives are no exception. Large data sets are well-known for being an excellent fit for machine learning. It helps with the improved comprehension and use of big data, the discovery of patterns, and forecasting. So, one method to increase efficiency is to analyse IoT data produced in the smart grid supply chain using sophisticated algorithms.
As a result of this AI movement, several startups have joined the market. On the business-to-business side, Fresh Energy, a rated company, links to smart metres and utilises AI to provide users with information and advice about their power usage.
China wants to dominate electrical power equipment by 2025. The Made in China 2025 Technological Roadmap (2017) outlines this national vision. The national initiative emphasises innovation and technology. Development financing is substantial. In 2015, the National Development and Reform Commission and National Energy Administration stressed the importance of smart grid development to improve the grid's ability to allocate energy resources and promote clean energy and distributed energy to create a safe, efficient, clean, and modern energy system.
India is also a significant adopter of smart city projects. To develop a sustainable city, the smart city programme uses digital technology for smart retail, IoT, transportation, grid, and retail. Smart city efforts rely on smart grid technologies to provide power for their many tasks. Smart grid in smart cities integrates renewables and permits sustainable energy generation near demand, providing more opportunities for the smart grid business.
The China market dominated the Asia Pacific Smart Grid Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $10,120.6 million by 2028. The Japan market is exhibiting a CAGR of 17.3% during (2022-2028). Additionally, The India market would experience a CAGR of 18.8% during (2022-2028).
Based on Component, the market is segmented into Solution (Smart Grid Distribution Management, Substation Automation, Smart Grid Network Management, Smart Grid Metering Infrastructure, Smart Grid Security, Smart Grid Communications, and Others) and Services. Based on End-user, the market is segmented into Commercial, Industrial, and Residential. Based on Application, the market is segmented into Distribution, Transmission, Consumption, and Generation. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include General Electric Company (GE Grid Solutions), Schneider Electric SE, Cisco Systems, Inc., IBM Corporation, Siemens AG, Wipro Limited, Honeywell International, Inc., Oracle Corporation, ABB Group, and Itron, Inc.
Predictive maintenance is one of the most important Internet of Things (IoT) initiatives based on the grid in power plants, energy distributors, and utilities. The foundation of operations is the use of expensive infrastructure and equipment. With cutting-edge smart grid technology for security and energy grid management, stakeholders may more effectively monitor their assets, anticipate depreciation and failure, and plan repair.
Machine learning applications are already widely used in the IoT sector, and smart energy grid IoT initiatives are no exception. Large data sets are well-known for being an excellent fit for machine learning. It helps with the improved comprehension and use of big data, the discovery of patterns, and forecasting. So, one method to increase efficiency is to analyse IoT data produced in the smart grid supply chain using sophisticated algorithms.
As a result of this AI movement, several startups have joined the market. On the business-to-business side, Fresh Energy, a rated company, links to smart metres and utilises AI to provide users with information and advice about their power usage.
China wants to dominate electrical power equipment by 2025. The Made in China 2025 Technological Roadmap (2017) outlines this national vision. The national initiative emphasises innovation and technology. Development financing is substantial. In 2015, the National Development and Reform Commission and National Energy Administration stressed the importance of smart grid development to improve the grid's ability to allocate energy resources and promote clean energy and distributed energy to create a safe, efficient, clean, and modern energy system.
India is also a significant adopter of smart city projects. To develop a sustainable city, the smart city programme uses digital technology for smart retail, IoT, transportation, grid, and retail. Smart city efforts rely on smart grid technologies to provide power for their many tasks. Smart grid in smart cities integrates renewables and permits sustainable energy generation near demand, providing more opportunities for the smart grid business.
The China market dominated the Asia Pacific Smart Grid Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $10,120.6 million by 2028. The Japan market is exhibiting a CAGR of 17.3% during (2022-2028). Additionally, The India market would experience a CAGR of 18.8% during (2022-2028).
Based on Component, the market is segmented into Solution (Smart Grid Distribution Management, Substation Automation, Smart Grid Network Management, Smart Grid Metering Infrastructure, Smart Grid Security, Smart Grid Communications, and Others) and Services. Based on End-user, the market is segmented into Commercial, Industrial, and Residential. Based on Application, the market is segmented into Distribution, Transmission, Consumption, and Generation. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include General Electric Company (GE Grid Solutions), Schneider Electric SE, Cisco Systems, Inc., IBM Corporation, Siemens AG, Wipro Limited, Honeywell International, Inc., Oracle Corporation, ABB Group, and Itron, Inc.
Scope of the Study
By Component
- Solution
- Smart Grid Distribution Management
- Substation Automation
- Smart Grid Network Management
- Smart Grid Metering Infrastructure
- Smart Grid Security
- Smart Grid Communications
- Others
- Services
By End-user
- Commercial
- Industrial
- Residential
By Application
- Distribution
- Transmission
- Consumption
- Generation
By Country
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- General Electric Company (GE Grid Solutions)
- Schneider Electric SE
- Cisco Systems, Inc.
- IBM Corporation
- Siemens AG
- Wipro Limited
- Honeywell International, Inc.
- Oracle Corporation
- ABB Group
- Itron, Inc.
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- Exhaustive coverage
- The highest number of Market tables and figures
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- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Asia Pacific Smart Grid Market, by Component
1.4.2 Asia Pacific Smart Grid Market, by End User
1.4.3 Asia Pacific Smart Grid Market, by Application
1.4.4 Asia Pacific Smart Grid Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 Analyst's Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.3 Market Share Analysis, 2021
3.4 Top Winning Strategies
3.4.1 Key Leading Strategies: Percentage Distribution (2018-2022)
3.4.2 Key Strategic Move: (Partnerships, Collaborations & Agreements: 2018, Sep - 2023, Feb) Leading Players
Chapter 4. Asia Pacific Smart Grid Market by Component
4.1 Asia Pacific Solution Market by Country
4.2 Asia Pacific Smart Grid Market by Solution Type
4.2.1 Asia Pacific Smart Grid Distribution Management Market by Country
4.2.2 Asia Pacific Substation Automation Market by Country
4.2.3 Asia Pacific Smart Grid Network Management Market by Country
4.2.4 Asia Pacific Smart Grid Metering Infrastructure Market by Country
4.2.5 Asia Pacific Smart Grid Security Market by Country
4.2.6 Asia Pacific Smart Grid Communications Market by Country
4.2.7 Asia Pacific Others Market by Country
4.3 Asia Pacific Services Market by Country
Chapter 5. Asia Pacific Smart Grid Market by End User
5.1 Asia Pacific Commercial Market by Country
5.2 Asia Pacific Industrial Market by Country
5.3 Asia Pacific Residential Market by Country
Chapter 6. Asia Pacific Smart Grid Market by Application
6.1 Asia Pacific Distribution Market by Country
6.2 Asia Pacific Transmission Market by Country
6.3 Asia Pacific Consumption Market by Country
6.4 Asia Pacific Generation Market by Country
Chapter 7. Asia Pacific Smart Grid Market by Country
7.1 China Smart Grid Market
7.1.1 China Smart Grid Market by Component
7.1.1.1 China Smart Grid Market by Solution Type
7.1.2 China Smart Grid Market by End User
7.1.3 China Smart Grid Market by Application
7.2 Japan Smart Grid Market
7.2.1 Japan Smart Grid Market by Component
7.2.1.1 Japan Smart Grid Market by Solution Type
7.2.2 Japan Smart Grid Market by End User
7.2.3 Japan Smart Grid Market by Application
7.3 India Smart Grid Market
7.3.1 India Smart Grid Market by Component
7.3.1.1 India Smart Grid Market by Solution Type
7.3.2 India Smart Grid Market by End User
7.3.3 India Smart Grid Market by Application
7.4 South Korea Smart Grid Market
7.4.1 South Korea Smart Grid Market by Component
7.4.1.1 South Korea Smart Grid Market by Solution Type
7.4.2 South Korea Smart Grid Market by End User
7.4.3 South Korea Smart Grid Market by Application
7.5 Singapore Smart Grid Market
7.5.1 Singapore Smart Grid Market by Component
7.5.1.1 Singapore Smart Grid Market by Solution Type
7.5.2 Singapore Smart Grid Market by End User
7.5.3 Singapore Smart Grid Market by Application
7.6 Malaysia Smart Grid Market
7.6.1 Malaysia Smart Grid Market by Component
7.6.1.1 Malaysia Smart Grid Market by Solution Type
7.6.2 Malaysia Smart Grid Market by End User
7.6.3 Malaysia Smart Grid Market by Application
7.7 Rest of Asia Pacific Smart Grid Market
7.7.1 Rest of Asia Pacific Smart Grid Market by Component
7.7.1.1 Rest of Asia Pacific Smart Grid Market by Solution Type
7.7.2 Rest of Asia Pacific Smart Grid Market by End User
7.7.3 Rest of Asia Pacific Smart Grid Market by Application
Chapter 8. Company Profiles
8.1 General Electric Company (GE Grid Solutions)
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Segmental and Regional Analysis
8.1.4 Research & Development Expense
8.1.5 Recent strategies and developments:
8.1.5.1 Partnerships, Collaborations, and Agreements:
8.1.5.2 Product Launches and Product Expansions:
8.1.6 SWOT Analysis
8.2 Schneider Electric SE
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Segmental and Regional Analysis
8.2.4 Research & Development Expense
8.2.5 Recent strategies and developments:
8.2.5.1 Partnerships, Collaborations, and Agreements:
8.2.5.2 Product Launches and Product Expansions:
8.2.6 SWOT Analysis
8.3 Cisco Systems, Inc.
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Regional Analysis
8.3.4 Research & Development Expense
8.3.5 Recent strategies and developments:
8.3.5.1 Partnerships, Collaborations, and Agreements:
8.3.6 SWOT Analysis
8.4 IBM Corporation
8.4.1 Company Overview
8.4.2 Financial Analysis
8.4.3 Regional & Segmental Analysis
8.4.4 Research & Development Expenses
8.4.5 SWOT Analysis
8.5 Siemens AG
8.5.1 Company Overview
8.5.2 Financial Analysis
8.5.3 Segmental and Regional Analysis
8.5.4 Research & Development Expense
8.5.5 Recent strategies and developments:
8.5.5.1 Partnerships, Collaborations, and Agreements:
8.5.6 SWOT Analysis
8.6 Wipro Limited
8.6.1 Company Overview
8.6.2 Financial Analysis
8.6.3 Segmental and Regional Analysis
8.6.4 Research & Development Expenses
8.6.5 SWOT Analysis
8.7 Honeywell International, Inc.
8.7.1 Company Overview
8.7.2 Financial Analysis
8.7.3 Segmental and Regional Analysis
8.7.4 Research & Development Expenses
8.7.5 SWOT Analysis
8.8 Oracle Corporation
8.8.1 Company Overview
8.8.2 Financial Analysis
8.8.3 Segmental and Regional Analysis
8.8.4 Research & Development Expense
8.8.5 SWOT Analysis
8.9 ABB Group
8.9.1 Company Overview
8.9.2 Financial Analysis
8.9.3 Segmental and Regional Analysis
8.9.4 Research & Development Expense
8.9.5 SWOT Analysis
8.10. Itron, Inc.
8.10.1 Company Overview
8.10.2 Financial Analysis
8.10.3 Segmental and Regional Analysis
8.10.4 Research & Development Expense
8.10.5 Recent strategies and developments:
8.10.5.1 Partnerships, Collaborations, and Agreements:
Companies Mentioned
- General Electric Company (GE Grid Solutions)
- Schneider Electric SE
- Cisco Systems, Inc.
- IBM Corporation
- Siemens AG
- Wipro Limited
- Honeywell International, Inc.
- Oracle Corporation
- ABB Group
- Itron, Inc.
Methodology
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