The smart grid market focusses on four major sectors i.e. generation, transmission, distribution, and consumption. Each sector focuses on key aspects of the power industry from power generation, transmission through power grid, and supply of electricity to the end users. Increasing usage of smart grid technology in the power industry is expected to help the companies in analyzing data, taking highly accurate decisions, lowering the transmission and distribution losses, and prevent power outages.
Read Report Overview: https://bisresearch.com/industry-report/asean-smart-grid-market.html
The power distribution system deals with the supply of electricity to the end users (facilitators). The distribution infrastructure includes distribution substation, step down voltage systems, consumer billing systems, and smart meters, among others. With the advent of smart grids, the grid transparency has increased, and the power utilities are able to efficiently monitor the distribution of electricity with individual load on the distribution substation.
The trends in the ASEAN smart grid market vary across different countries. The ASEAN smart grid market currently holds a prominent share in Singapore, followed by Malaysia, 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, Singapore held the highest market share in the ASEAN smart grid market.
During the forecast period, Thailand and Vietnam are expected to flourish as the most lucrative markets for smart grid technology providers. These countries in this ASEAN region present immense scope for market development, owing to the increasing urban population size, growing market penetration of advance technologies and favourable government investments.
For the companies operating in the ASEAN smart grid market have been adopting strategies such as partnerships, collaborations and joint ventures, and mergers and acquisitions. The ASEAN smart market comprises four types of players, namely power utilities, energy management and automation companies, smart metering companies, and IT solution providers. Some of the leading power utilities are Singapore Power, Tenega Nasional Berhad, Manila Electric, Electricity Authority of Cambodia, Enel Group, and Electricity du Laos, among others. Similarly, some of the prominent energy management and automation companies include Siemens AG, Schneider Electric, General Electric, ABB Ltd, and Honeywell International, among others. The leading smart metering include Landis+Gyr, S&C Electric, Aclara Technologies, EDMI Ltd, and Kamstrup LLC, among others. Some of the most prominent IT solution providers in the ASEAN smart grid market include Microsoft Corporation, Accenture Plc, IBM Corporation, Huawei Technologies, Intel Corporation.
Obtain the Sample Report at: https://bisresearch.com/requestsample?id=845&type=download
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. 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 partnership with Utilidata, Inc. for the deployment of smart meters and advanced metering infrastructure, which will help the power utilities optimize the electrical grid.
About BIS Research:
BIS Research is a global B2B market intelligence and advisory firm focusing on those emerging technological trends which are likely to disrupt the dynamics of the market.
With over 150 market research reports published annually, BIS Research focuses on high technology verticals such as 3D Printing, Advanced Materials and Chemicals, Aerospace and Defense, Automotive, Healthcare, Electronics and Semiconductors, Robotics and UAV, and other emerging technologies.
Our in-depth market intelligence reports focus on the market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.
As a leading market intelligence provider, BIS Research stands out of the crowd by complementing the data with valuable insights and actionable inputs for the client’s success.
Contact:
Bhavya Banga
Email: media@bisresearch.com
BIS Research Inc.
39111 PASEO PADRE PKWY STE 313,
FREMONT CA 94538-1686
Visit our Blog @ https://blog.bisresearch.com/
Connect with us on LinkedIn @ https://www.linkedin.com/company/bis-research
Connect with us on Twitter@ https://twitter.com/BISResearch