WASHINGTON, Oct. 14, 2014 /PRNewswire/ -- Southeast Asian countries will invest $13.6bn in smart grid infrastructure between 2014 and 2024. This investment will include smart metering and the modernization of electricity transmission and distribution networks with sensors, communications and software. By 2024, the largest markets will be Thailand, Indonesia, Malaysia, Singapore, the Philippines and Vietnam, according to a new study published today by Northeast Group, LLC.
"Smart grid investment over the next decade will shift from North America and Europe to emerging market regions," said Ben Gardner, president of Northeast Group. "Southeast Asian countries are just beginning on the path of modernizing their electric infrastructure. Strong GDP growth of nearly 6% through 2018 and corresponding growth in electricity demand will help lay the foundation for investment. Electrification programs and growth in renewable resources will also drive investment. Singapore is currently leading the region in development but later in the decade the large markets of Thailand, Indonesia, Malaysia, Vietnam and the Philippines will account for significant smart grid investment."
Southeast Asian countries will deploy 37.3m smart meters between 2014 and 2024, accounting for $8.8bn in investment. The region will also invest $2.5bn in distribution automation, or advanced monitoring and control of the distribution network with sensors and communications. Other smart grid segments will account for an additional $2.2bn in investment.
Several countries in the region have drafted smart grid roadmaps and pilot projects are widespread. Regulatory frameworks are still developing but momentum will grow over the next several years. Both utilities and vendors are already working together to ensure preparedness when regulations are finalized.
Many vendors are active across the region. These include ABB, Alstom, Echelon (NES), EDMI (Osaki), Elster, Enverv, GE, Itron, Schneider, Secure, Siemens, Silver Spring Networks, ST Electronics, Trilliant and other global and local vendors.
Northeast Group's Southeast Asia Smart Grid: Market Forecast (2014-2024) Volume II study is 179 pages long, includes 120 tables and graphics and comes with an excel file with over 1,500 data points. Forecasts are included for AMI, DA, HEM, WAM and IT for the countries of: Singapore, Thailand, Malaysia, Philippines, Indonesia and Vietnam. Summary forecasts are available for Cambodia, Laos and Myanmar. To order a copy of the study, please visit: www.northeast-group.com or email Ben Gardner at: firstname.lastname@example.org
ABOUT: Northeast Group, LLC is a Washington, DC-based smart infrastructure market intelligence firm. www.northeast-group.com
SOURCE Northeast Group, LLC