• Resources
  • Blog
  • Journalists
  • Log In
  • Sign Up
  • Data Privacy
  • Send a Release
Cision PR Newswire: news distribution, targeting and monitoring home
  • News
  • Products
    • Overview
    • Distribution by PR Newswire
    • Cision Communications Cloud®
    • Cision IR
    • All Products
  • Contact
    • General Inquiries
    • Request a Demo
    • Editorial Bureaus
    • Partnerships
    • Media Inquiries
    • Worldwide Offices

 

When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All News Releases
      • All Public Company
      • English-only
      • News Releases Overview

      • Multimedia Gallery

      • All Multimedia
      • All Photos
      • All Videos
      • Multimedia Gallery Overview

      • Trending Topics

      • All Trending Topics
  • Business & Money
      • Auto & Transportation

      • All Automotive & Transportation
      • Aerospace, Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads and Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking and Road Transportation
      • Auto & Transportation Overview

      • View All Auto & Transportation

      • Business Technology

      • All Business Technology
      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • Business Technology Overview

      • View All Business Technology

      • Entertain­ment & Media

      • All Entertain­ment & Media
      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • Entertain­ment & Media Overview

      • View All Entertain­ment & Media

      • Financial Services & Investing

      • All Financial Services & Investing
      • Accounting News & Issues
      • Acquisitions, Mergers and Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalization
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • Financial Services & Investing Overview

      • View All Financial Services & Investing

      • General Business

      • All General Business
      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls and Research
      • Trade Show News
      • General Business Overview

      • View All General Business

  • Science & Tech
      • Consumer Technology

      • All Consumer Technology
      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • Consumer Technology Overview

      • View All Consumer Technology

      • Energy & Natural Resources

      • All Energy
      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil and Gas Discoveries
      • Utilities
      • Water Utilities
      • Energy & Natural Resources Overview

      • View All Energy & Natural Resources

      • Environ­ment

      • All Environ­ment
      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • Environ­ment Overview

      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • All Heavy Industry & Manufacturing
      • Aerospace & Defense
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation and Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking and Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • Heavy Industry & Manufacturing Overview

      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • All Telecomm­unications
      • Carriers and Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • Telecomm­unications Overview

      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • All Consumer Products & Retail
      • Animals & Pets
      • Beers, Wines and Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics and Personal Care
      • Fashion
      • Food & Beverages
      • Furniture and Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewelry
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • Consumer Products & Retail Overview

      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • All Entertain­ment & Media
      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • Entertain­ment & Media Overview

      • View All Entertain­ment & Media

      • Health

      • All Health
      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • Health Overview

      • View All Health

      • Sports

      • All Sports
      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • Sports Overview

      • View All Sports

      • Travel

      • All Travel
      • Amusement Parks and Tourist Attractions
      • Gambling & Casinos
      • Hotels and Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • Travel Overview

      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • All Policy & Public Interest
      • Advocacy Group Opinion
      • Animal Welfare
      • Congressional & Presidential Campaigns
      • Corporate Social Responsibility
      • Domestic Policy
      • Economic News, Trends, Analysis
      • Education
      • Environmental
      • European Government
      • FDA Approval
      • Federal and State Legislation
      • Federal Executive Branch & Agency
      • Foreign Policy & International Affairs
      • Homeland Security
      • Labor & Union
      • Legal Issues
      • Natural Disasters
      • Not For Profit
      • Patent Law
      • Public Safety
      • Trade Policy
      • U.S. State Policy
      • Policy & Public Interest Overview

      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • All People & Culture
      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • People & Culture Overview

      • View All People & Culture

      • In-Language News

      • español
      • português
      • Česko
      • Danmark
      • Deutschland
      • España
      • France
      • Italia
      • Nederland
      • Norge
      • Polska
      • Portugal
      • Россия
      • Slovensko
      • Suomi
      • Sverige
  • Overview
  • Distribution by PR Newswire
  • Cision Communications Cloud®
  • Cision IR
  • All Products
  • General Inquiries
  • Request a Demo
  • Editorial Bureaus
  • Partnerships
  • Media Inquiries
  • Worldwide Offices
  • PR Newswire: news distribution, targeting and monitoring
  • Send a Release
    • ALL CONTACT INFO
    • Contact Us

      888-776-0942
      from 8 AM - 10 PM ET

  • Send a Release
  • Sign Up
  • Log In
  • Resources
  • Blog
  • Journalists
  • RSS
  • GDPR
  • News in Focus
    • Browse All News
    • Multimedia Gallery
    • Trending Topics
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Send a Release
  • Sign Up
  • Log In
  • Resources
  • Blog
  • Journalists
  • RSS
  • GDPR
  • Overview
  • Distribution by PR Newswire
  • Cision Communications Cloud®
  • Cision IR
  • All Products
  • Send a Release
  • Sign Up
  • Log In
  • Resources
  • Blog
  • Journalists
  • RSS
  • GDPR
  • General Inquiries
  • Request a Demo
  • Editorial Bureaus
  • Partnerships
  • Media Inquiries
  • Worldwide Offices
  • Send a Release
  • Sign Up
  • Log In
  • Resources
  • Blog
  • Journalists
  • RSS
  • GDPR

ASEAN Smart Grid Industry Outlook to 2024 - Rise in Decentralized Operations & Management Systems due to Blockchain Technology

Research and Markets Logo

News provided by

Research and Markets

Apr 17, 2020, 12:30 ET

Share this article

Share this article


DUBLIN, April 17, 2020 /PRNewswire/ -- The "ASEAN Smart Grid Market: Focus on Product Offerings (Software, Hardware, Services), Technology (AMI, T&D Automation, Consumer Energy Management, Energy Storage), End User, Communication Tech, Countries, Cost-Benefit, Investment - Analysis and Forecast, 2019-2024" report has been added to ResearchAndMarkets.com's offering.

According to this market intelligence report, the ASEAN smart grid market is expected to reach $2,949.6 million by 2024, rising at a CAGR of 18.76% from 2019 to 2024.

The market growth is expected to be driven by the rising share of renewable energy in the energy mix, increasing focus toward smart nation, growing market penetration of advance technologies such as electric vehicles charging infrastructure and vehicle to grid, and rising demand for efficient energy consumption and billing.

Smart grid uses two-way communication for smooth and transparent supply of electricity from generators to consumers, thereby ensuring reduced power disruptions and improved power quality. Integration of advanced information and communication technology (ICT) systems and solutions allow the power utilities to manage the increasing proportion of electricity generation from renewable sources, manage load shifting, and energy storage. Moreover, the incorporation of ICT technologies allows the power utilities of the ASEAN countries to communicate between the smart grid software platforms and the smart grid hardware components installed at remote locations.

Furthermore, the increase in cost efficiency due to the establishment of transparent billing infrastructure for the consumers induced by smart grid in operations is gradually driving the degree of acceptance amongst the energy companies. Grid accessibility to the prosumers using smart grid has gained demand especially to integrate the surplus electricity in the grid during peak hours. Also, the advancing technology is enabling real-time energy consumption, along with actionable insights for the power utilities to monitor the electricity consumption pattern using advanced metering infrastructure.

The growing awareness in the ASEAN smart grid market regarding the opportunities in renewable energy, increasing electricity demand, and rising need to reduce transmission & distribution (T&D) losses has stimulated large-scale investments in the sector over the last decade. In 2019, the total venture capital investment in ASEAN smart grid projects was $2,186 million with a strong focus on increasing the power generation capacity and upgradation of grid infrastructure to ease the integration of distributed energy resources.

Transmission and distribution automation, advanced metering infrastructure, energy storage, consumer energy management, wide area monitoring, and others are the key technologies being implemented in the ASEAN smart grid market. In 2018, transmission and distribution automation technology accounted for around 36% of the total ASEAN smart grid market. During the forecast period, consumer energy management technology is expected to display the highest growth of 24.62%, owing to the increasing demand for prosumers to supply the surplus electricity generated in the grid and the rising need for battery storage system as a source of power supply to charge the electric vehicles.

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, it was witnessed to be a frontrunner in the market.

During the forecast period, Thailand and Vietnam are expected to flourish as the most lucrative markets for smart grid technology providers in the next 5 years. These countries in this ASEAN region present immense scope for market development, owing to the increasing urban population size, reduction in the rate of electricity consumption using an energy management system, growing market penetration of advance technologies such as electric vehicle charging mechanism, and favorable government investments.

The competitive landscape for the ASEAN smart grid market demonstrates an inclination toward companies adopting strategies such as partnerships, collaborations, and joint ventures as well as mergers and acquisitions. All the stakeholders in the ASEAN smart grid market are dependent on each other in order to set up a complete smart grid infrastructure. Smart grid requires two-way communication between the hardware and software, in order to make the grid work efficiently. Therefore, with communication infrastructure, the power utilities would be able to perceive real time insights about the smooth and continuous supply of electricity.

Similarly, the consumption energy management system also needs communication between the distribution utilities and the consumption end users, which will help the distribution utility to keep a track of energy being consumed across households. As a result, in order to make the smart grid operate, all the stakeholders have to participate effectively in the supply chain. With the increasing growth in the ASEAN market, companies operating in this industry are compelled to come up with collaborative strategies in order to sustain in the intensely competitive market.

For instance, In October 2019, Xcel Energy entered into a collaboration with Itron Inc. for the automation of power distribution system to improve reliability of grid infrastructure. In March 2019, Itron, Inc. entered into a partnership with Utilidata, Inc. for the deployment of smart meters and advanced metering infrastructure, which will help the power utilities optimize the electrical grid.

Strategies such as mergers and acquisitions have also been significantly employed by the players across the supply chain to expand in the ASEAN smart grid market. For instance, in February 2019, Mitsubishi Electric, one of the leading players in the ASEAN smart grid market, acquired OVO Energy, to enhance its distributed energy storage technology for the power utilities. In December 2019, Schneider Electric acquired Telvent to enhance its product offerings related to smart grid software.

This report is a meticulous compilation of research on more than 70 players in the ASEAN smart grid market and draws upon insights from in-depth interviews with the key opinion leaders of more than 40 leading companies, market participants, and vendors. The report also profiles 40 leading companies across the ASEAN smart grid supply chain.

Key Topics Covered

Executive Summary

1 Market Dynamics
1.1 Market Drivers
1.1.1 Rising Demand of Renewables in the Energy Mix
1.1.2 Demand for Transparent Energy Consumption and Billing
1.1.3 Favorable Government Initiatives
1.2 Market Restraints
1.2.1 High Capital Investment
1.2.2 Data Privacy and Security Risk
1.3 Market Opportunities
1.3.1 Rise in Decentralized Operations & Management Systems due to Blockchain Technology
1.3.2 Adoption of Electric Vehicles

2 Competitive Landscape
2.1 Key Market Developments and Strategies
2.1.1 Partnerships, Collaborations, and Joint Ventures
2.1.2 Mergers and Acquisitions
2.1.3 Product Launches and Developments
2.1.4 Business Expansions and Contracts
2.1.5 Others
2.2 Competitive Benchmarking of Key Players in ASEAN Smart Grid Market

3 Industry Analysis
3.1 Smart Grid Ecosystem
3.1.1 Stakeholder Analysis
3.1.1.1 Smart Grid Impact Matrix and Analysis
3.1.1.2 Power Utilities
3.1.1.3 Smart Metering Companies
3.1.1.4 ICT Solution Providers
3.1.1.5 Energy Management and Automation Companies
3.1.2 Key Ecosystem Elements
3.1.2.1 Utility Software Solutions
3.1.2.1.1 Asset Management
3.1.2.1.2 Advanced Metering Infrastructure
3.1.2.1.3 Grid Network Management
3.1.2.1.4 Grid Distribution Management
3.1.2.1.5 Others
3.1.2.2 Utility Hardware Solutions
3.1.2.2.1 Smart Meters
3.1.2.2.2 Sensors
3.1.2.2.3 Others
3.1.2.3 Smart Grid Communication Solutions
3.1.2.3.1 Wired Technologies
3.1.2.3.1.1 Ethernet
3.1.2.3.1.2 Modbus
3.1.2.3.1.3 PROFINET
3.1.2.3.1.4 FOUNDATION Fieldbus
3.1.2.3.2 Wireless Technologies
3.1.2.3.2.1 Wi-Fi
3.1.2.3.2.2 ZigBee
3.1.2.3.2.3 Bluetooth and Bluetooth Low Energy
3.1.2.3.2.4 Cellular Technology
3.1.2.3.2.5 LPWAN Technology
3.1.2.4 Smart Grid Consumer Solutions
3.2 Key Regulatory Bodies and their Impact
3.3 Investment & Funding Landscape
3.4 Key Consortiums and Associations
3.5 Cost Benefit Analysis
3.5.1 Introduction: The Need
3.5.2 Pre-Defined Boundaries
3.5.3 Objective & Methodology
3.5.4 Cost Benefit Analysis: 100 MW Smart Grid in Singapore

4 ASEAN Smart Grid Market (by Product Offering)
4.1 Market Overview
4.2 Software
4.3 Hardware
4.4 Support Services

5 ASEAN Smart Grid Market (by End User)
5.1 Market Overview
5.2 Distribution
5.3 Transmission
5.4 Generation
5.5 Consumption

6 ASEAN Smart Grid Market (by Technology)
6.1 Market Overview
6.2 Transmission and Distribution Automation
6.3 Advanced Metering Infrastructure (AMI)
6.4 Energy Storage
6.5 Consumer Energy Management
6.6 Wide Area Monitoring
6.7 Other Technologies

7 ASEAN Smart Grid Market (by Country)
7.1 Singapore
7.1.1 Singapore Smart Grid Market Trends
7.1.2 Singapore Smart Grid Market Size, Forecast & Analysis
7.1.3 Key Investment & Funding: Singapore Smart Grid Market
7.2 Malaysia
7.3 Thailand
7.4 Vietnam
7.5 Philippines
7.6 Indonesia
7.7 Myanmar
7.8 Cambodia
7.9 Laos
7.10 Brunei

8 Company Profiles
8.1 Overview
Energy Management and Automation Companies
8.2 ABB Ltd.
8.2.1 Company Overview
8.2.2 Role of ABB in the ASEAN Smart Grid Market
8.2.3 Financials
8.2.4 Key Insights about the Financial Health of the Company
8.2.5 SWOT Analysis
8.3 Eaton Corporation PLC
8.4 General Electric
8.5 Honeywell International Inc.
8.6 Mitsubishi Electric Corporation
8.7 Siemens AG
8.8 Schneider Electric
8.9 Rockwell Automation Inc.
8.10 Johnson Controls
8.11 Ingersoll Rand PLC
8.12 ENGIE
8.13 Emerson Electric Co.
Power Utilities
8.14 AutoGrid Systems, Inc
8.15 Enel X North America, Inc.
8.16 Singapore Power Ltd.
8.17 Tenaga Nasional Berhad
Information and Communication Technology Companies
8.18 IBM Corporation
8.19 Oracle Corporation
8.20 Fujitsu Limited
8.21 Wipro Limited
8.22 CISCO Systems Inc.
8.23 Huawei Technologies Co. Ltd.
8.24 Trilliant Networks, Inc.
8.25 Nokia Networks
8.26 C3 IoT, Inc.
Other Smart Grid Companies
8.27 Itron Inc.
8.28 S&C Electric Company
8.29 Aclara Technologies LLC
8.30 Tantalus Systems Corp.
8.31 Landis+Gyr Inc.
8.32 Esyasoft Technologies Pvt. Ltd.
8.33 eSmart Systems AS
8.34 Kamstrup A/S
8.35 Sympower
8.36 EDMI Limited.
8.37 Holley Technology Limited
8.38 ProMinent GmbH
8.39 Krizik Malaysia Sdn. Bhd. (KMSB)
8.40 Smart Meters Technologies (M) Sdn. Bhd.
8.41 Xylem Inc.

For more information about this report visit https://www.researchandmarkets.com/r/fqvuba

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

SOURCE Research and Markets

Related Links

http://www.researchandmarkets.com

Modal title

Also from this source

Industrial Computed Tomography Systems Vendor Benchmark Report...

Industrial Computed Tomography Systems Vendor Benchmark Report...


The Worldwide Cloud Identity and Access Management Industry is...

Explore

More news releases in similar topics

  • Publishing & Information Services
  • Electrical Utilities
  • Electronic Components
  • Computer & Electronics
  • Utilities

Contact Cision

  • Cision Distribution 888-776-0942
    from 8 AM - 9 PM ET

  • Chat with an Expert
  • General Inquiries
  • Request a Demo
  • Editorial Bureaus
  • Partnerships
  • Media Inquiries
  • Worldwide Offices

Products

  • Cision Communication Cloud®
  • For Marketers
  • For Public Relations
  • For IR & Compliance
  • For Agency
  • For Small Business
  • All Products

About

  • About PR Newswire
  • About Cision
  • Become a Publishing Partner
  • Become a Channel Partner
  • Careers
  • COVID-19 Resources
  • Accessibility Statement
  • Asia
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Israel
  • Italy
  • Mexico
  • Middle East
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United Kingdom

My Services

  • All New Releases
  • Online Member Center
  • ProfNet

Contact Cision

Products

About

My Services
  • All News Releases
  • Online Member Center
  • ProfNet
Cision Distribution Helpline
888-776-0942
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2022 Cision US Inc.