Asia-Pacific’s smart grid market ‘to earn $13bn’

Asia-Pacific’s smart grid market could see revenues of $13.9 billion (£9.1bn) by 2019. That’s because countries are seeking new ways to meet electricity demand, stated a new report from Frost & Sullivan. It added […]

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By Jacqueline Echevarria

Asia-Pacific’s smart grid market could see revenues of $13.9 billion (£9.1bn) by 2019.

That’s because countries are seeking new ways to meet electricity demand, stated a new report from Frost & Sullivan.

It added the market earned $7.6 billion (£5.01bn) in 2014 and will keep growing.

South Korea and Japan will remain the hotspots for smart grid investments.

Japan’s 10 leading power utilities are expected to complete residential smart meter roll-outs by 2020.

In South Korea, the development of electric vehicle charging infrastructures and two high-voltage, direct current (HVDC) projects are also taking off, the report added.

However it stated, the large-scale adoption of advanced metering infrastructure (AMI) won’t happen until the technology is proven in mass installation case studies.

Subha Krishnan, Frost & Sullivan Energy & Environment Senior Research Analyst said: “The growing focus on renewable energy integration is unlocking opportunities in the smart grid market across Asia-Pacific. Largely driven by regulations, the increasing implementation of AMI is accelerating the shift to smart grids.”