Asia-Pacific Smart Grid Network Market Size (2024 - 2029)

The Asia-Pacific smart grid network market is poised for substantial growth, driven by governmental initiatives in countries like China and India to integrate smart technologies into power grid infrastructure. Challenges such as outdated transmission and distribution systems, the rise of electric vehicle charging, and distributed generation are contributing to the market's expansion. The increasing solar power sector, marked by heightened solar PV installations, further propels the market. However, issues like limited electricity access and inadequate regulatory frameworks in some regions may hinder progress. The advance metering infrastructure segment is anticipated to grow significantly, reflecting the broader adoption of smart grid technologies. Governments in emerging and underdeveloped nations are increasingly recognizing smart grid technology as a vital investment for economic sustainability and carbon reduction goals, presenting numerous opportunities for market participants. China is expected to dominate the market due to its substantial investments aimed at meeting electricity demand.

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Market Size of Asia-Pacific Smart Grid Network Industry

Asia-Pacific Smart Grid Network Market - Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR 15.00 %

Major Players

Asia-Pacific Smart Grid Network Market Major Players

*Disclaimer: Major Players sorted in no particular order

Asia-Pacific Smart Grid Network Market Analysis

The Asia-Pacific smart grid network market is expected to grow at a CAGR of more than 15% during the forecast period. Factors such as the increasing focus of governments, such as China and India, on adopting smart technology in power grid infrastructure and rising challenges, such as aging transmission and distribution (T&D) infrastructure, electric vehicle charging, and distributed generation, are expected to benefit the growth of smart grid network across Asia-Pacific. Moreover, the growing solar power market in the region is expected to drive the smart grid market, owing to increased solar PV installations across Asia-Pacific. The challenge, however, is the problem of low accessibility to electricity in some nations and poor government regulations and initiatives to expand and modernize the grid infrastructure, which in turn is expected to limit the growth of the market studied.

  • Advance metering infrastructure is expected to witness significant growth during the forecast period owing to the increasing deployment of smart grid technologies across Asia-Pacific.
  • A number of governments of both emerging and underdeveloped nations across the world are increasingly viewing smart grid technology as a strategic infrastructural investment that will sustain their long-term economic prosperity and help them to achieve their carbon emission reduction targets. This, in turn, is expected to provide an ample amount of opportunity to the companies involved in smart grid market in the near future.
  • China is expected to be the largest market for smart grid network, owing to increased investment to meet the demand of electricity in the country.

Asia-Pacific Smart Grid Network Industry Segmentation

The Asia-Pacific smart grid network market report include:

Application
Transmission
Demand Response
Advanced Metering Infrastructure (AMI)
Others
Geography
India
Japan
China
South Korea
Rest of Asia-Pacifc
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Asia-Pacific Smart Grid Network Market Size Summary

The Asia-Pacific smart grid network market is poised for substantial growth, driven by governmental initiatives in countries like China and India to integrate smart technologies into power grid infrastructure. This growth is further supported by the region's expanding solar power market, which is enhancing solar PV installations. However, challenges such as aging transmission and distribution infrastructure, electric vehicle charging demands, and distributed generation issues are also influencing market dynamics. Despite these challenges, the market faces limitations due to low electricity accessibility in certain nations and inadequate government regulations to modernize grid infrastructure. Advanced metering infrastructure (AMI) is anticipated to experience significant expansion, offering operational benefits like cost savings and improved customer service through bi-directional communication capabilities.

China stands out as the largest market for smart grid networks, bolstered by substantial investments to meet its electricity demand and a national strategy focused on reducing carbon emissions and promoting green development. The country's commitment to becoming a leader in electrical power equipment by 2025, as part of the Made in China 2025 programme, underscores its focus on innovation and technology. Initiatives like the 'Global Energy Internet' concept and the development of the world's largest smart grid facility are expected to drive market growth. The Asia-Pacific smart grid network market is moderately fragmented, with key players including ABB Ltd, Siemens AG, Schneider Electric SE, Cisco Systems Inc., and General Electric Company, all contributing to the region's technological advancements and infrastructure modernization efforts.

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Asia-Pacific Smart Grid Network Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast in USD billion, till 2025

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

      2. 1.5.2 Restraints

    6. 1.6 Supply Chain Analysis

    7. 1.7 Porter's Five Forces Analysis

      1. 1.7.1 Bargaining Power of Suppliers

      2. 1.7.2 Bargaining Power of Consumers

      3. 1.7.3 Threat of New Entrants

      4. 1.7.4 Threat of Substitutes Products and Services

      5. 1.7.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Application

      1. 2.1.1 Transmission

      2. 2.1.2 Demand Response

      3. 2.1.3 Advanced Metering Infrastructure (AMI)

      4. 2.1.4 Others

    2. 2.2 Geography

      1. 2.2.1 India

      2. 2.2.2 Japan

      3. 2.2.3 China

      4. 2.2.4 South Korea

      5. 2.2.5 Rest of Asia-Pacifc

Asia-Pacific Smart Grid Network Market Size FAQs

The Asia-Pacific Smart Grid Network Market is projected to register a CAGR of greater than 15% during the forecast period (2024-2029)

ABB Ltd, Siemens AG, Eaton Corporation, Cisco Systems Inc. and General Electric Company are the major companies operating in the Asia-Pacific Smart Grid Network Market.

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Asia-Pacific Smart Grid Network Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)