Study expects China, India, Japan and Indonesia to be the biggest smart grid users in the region
The market for smart grids in Asia-Pacific is expected to grow by almost 35 per cent over the next five years and the region will lead the world in smart grid applications and deployment, a new study finds.
Smart Grids are electrical grids which use information and communications technology to gather and act on information -- such as data about the behaviours of suppliers and consumers -- in an automated fashion to improve the efficiency, reliability, economics, and sustainability of the production and distribution of electricity.
According to Analyzing the Global Smart Grid 2016 report from Aruvian Research, the region is the global leader in the installation of smart grids with a share of nearly 50 per cent and China, India, Japan and Indonesia are poised to be the biggest smart grid users in the region.
Smart grid technology and infrastructure development has never been this relevant and necessary as in Asia-Pacific energy markets today, the report states. Dynamic pricing for electricity has long been the holy grail of the smart grid, particularly for smart metering.
The global smart grid industry is analysed through an analysis of the market for smart meters, in-home displays (IHDs), remote terminal units (RTUs) and synchrophasors. Each sector is analysed through industry statistics, number of units installed worldwide, industry revenues as well as the major players in these markets.