The Asia Pacific Smart Grid Market would witness market growth of 18.0% CAGR during the forecast period (2022-2028).
Predictive maintenance is one of the most important Internet of Things (IoT) initiatives based on the grid in power plants, energy distributors, and utilities. The foundation of operations is the use of expensive infrastructure and equipment. With cutting-edge smart grid technology for security and energy grid management, stakeholders may more effectively monitor their assets, anticipate depreciation and failure, and plan repair.
Machine learning applications are already widely used in the IoT sector, and smart energy grid IoT initiatives are no exception. Large data sets are well-known for being an excellent fit for machine learning. It helps with the improved comprehension and use of big data, the discovery of patterns, and forecasting. So, one method to increase efficiency is to analyse IoT data produced in the smart grid supply chain using sophisticated algorithms.
As a result of this AI movement, several startups have joined the market. On the business-to-business side, Fresh Energy, a rated company, links to smart metres and utilises AI to provide users with information and advice about their power usage.
China wants to dominate electrical power equipment by 2025. The Made in China 2025 Technological Roadmap (2017) outlines this national vision. The national initiative emphasises innovation and technology. Development financing is substantial. In 2015, the National Development and Reform Commission and National Energy Administration stressed the importance of smart grid development to improve the grid's ability to allocate energy resources and promote clean energy and distributed energy to create a safe, efficient, clean, and modern energy system.
India is also a significant adopter of smart city projects. To develop a sustainable city, the smart city programme uses digital technology for smart retail, IoT, transportation, grid, and retail. Smart city efforts rely on smart grid technologies to provide power for their many tasks. Smart grid in smart cities integrates renewables and permits sustainable energy generation near demand, providing more opportunities for the smart grid business.
The China market dominated the Asia Pacific Smart Grid Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $10,120.6 million by 2028. The Japan market is exhibiting a CAGR of 17.3% during (2022 - 2028). Additionally, The India market would experience a CAGR of 18.8% during (2022 - 2028).
Based on Component, the market is segmented into Solution (Smart Grid Distribution Management, Substation Automation, Smart Grid Network Management, Smart Grid Metering Infrastructure, Smart Grid Security, Smart Grid Communications, and Others) and Services. Based on End User, the market is segmented into Commercial, Industrial, and Residential. Based on Application, the market is segmented into Distribution, Transmission, Consumption, and Generation. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Smart Grid Market is Projected to reach USD 130.2 Billion by 2028, at a CAGR of 17.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include General Electric Company (GE Grid Solutions), Schneider Electric SE, Cisco Systems, Inc., IBM Corporation, Siemens AG, Wipro Limited, Honeywell International, Inc., Oracle Corporation, ABB Group, and Itron, Inc.
Scope of the Study
Market Segments Covered in the Report:
By Component
- Solution
- Smart Grid Distribution Management
- Substation Automation
- Smart Grid Network Management
- Smart Grid Metering Infrastructure
- Smart Grid Security
- Smart Grid Communications
- Others
- Services
By End User
- Commercial
- Industrial
- Residential
By Application
- Distribution
- Transmission
- Consumption
- Generation
By Country
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- General Electric Company (GE Grid Solutions)
- Schneider Electric SE
- Cisco Systems, Inc.
- IBM Corporation
- Siemens AG
- Wipro Limited
- Honeywell International, Inc.
- Oracle Corporation
- ABB Group
- Itron, Inc.
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Asia Pacific Smart Grid Market, by Component
1.4.2 Asia Pacific Smart Grid Market, by End User
1.4.3 Asia Pacific Smart Grid Market, by Application
1.4.4 Asia Pacific Smart Grid Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 KBV Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.3 Market Share Analysis, 2021
3.4 Top Winning Strategies
3.4.1 Key Leading Strategies: Percentage Distribution (2018-2022)
3.4.2 Key Strategic Move: (Partnerships, Collaborations & Agreements: 2018, Sep – 2023, Feb) Leading Players
Chapter 4. Asia Pacific Smart Grid Market by Component
4.1 Asia Pacific Solution Market by Country
4.2 Asia Pacific Smart Grid Market by Solution Type
4.2.1 Asia Pacific Smart Grid Distribution Management Market by Country
4.2.2 Asia Pacific Substation Automation Market by Country
4.2.3 Asia Pacific Smart Grid Network Management Market by Country
4.2.4 Asia Pacific Smart Grid Metering Infrastructure Market by Country
4.2.5 Asia Pacific Smart Grid Security Market by Country
4.2.6 Asia Pacific Smart Grid Communications Market by Country
4.2.7 Asia Pacific Others Market by Country
4.3 Asia Pacific Services Market by Country
Chapter 5. Asia Pacific Smart Grid Market by End User
5.1 Asia Pacific Commercial Market by Country
5.2 Asia Pacific Industrial Market by Country
5.3 Asia Pacific Residential Market by Country
Chapter 6. Asia Pacific Smart Grid Market by Application
6.1 Asia Pacific Distribution Market by Country
6.2 Asia Pacific Transmission Market by Country
6.3 Asia Pacific Consumption Market by Country
6.4 Asia Pacific Generation Market by Country
Chapter 7. Asia Pacific Smart Grid Market by Country
7.1 China Smart Grid Market
7.1.1 China Smart Grid Market by Component
7.1.1.1 China Smart Grid Market by Solution Type
7.1.2 China Smart Grid Market by End User
7.1.3 China Smart Grid Market by Application
7.2 Japan Smart Grid Market
7.2.1 Japan Smart Grid Market by Component
7.2.1.1 Japan Smart Grid Market by Solution Type
7.2.2 Japan Smart Grid Market by End User
7.2.3 Japan Smart Grid Market by Application
7.3 India Smart Grid Market
7.3.1 India Smart Grid Market by Component
7.3.1.1 India Smart Grid Market by Solution Type
7.3.2 India Smart Grid Market by End User
7.3.3 India Smart Grid Market by Application
7.4 South Korea Smart Grid Market
7.4.1 South Korea Smart Grid Market by Component
7.4.1.1 South Korea Smart Grid Market by Solution Type
7.4.2 South Korea Smart Grid Market by End User
7.4.3 South Korea Smart Grid Market by Application
7.5 Singapore Smart Grid Market
7.5.1 Singapore Smart Grid Market by Component
7.5.1.1 Singapore Smart Grid Market by Solution Type
7.5.2 Singapore Smart Grid Market by End User
7.5.3 Singapore Smart Grid Market by Application
7.6 Malaysia Smart Grid Market
7.6.1 Malaysia Smart Grid Market by Component
7.6.1.1 Malaysia Smart Grid Market by Solution Type
7.6.2 Malaysia Smart Grid Market by End User
7.6.3 Malaysia Smart Grid Market by Application
7.7 Rest of Asia Pacific Smart Grid Market
7.7.1 Rest of Asia Pacific Smart Grid Market by Component
7.7.1.1 Rest of Asia Pacific Smart Grid Market by Solution Type
7.7.2 Rest of Asia Pacific Smart Grid Market by End User
7.7.3 Rest of Asia Pacific Smart Grid Market by Application
Chapter 8. Company Profiles
8.1 General Electric Company (GE Grid Solutions)
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Segmental and Regional Analysis
8.1.4 Research & Development Expense
8.1.5 Recent strategies and developments:
8.1.5.1 Partnerships, Collaborations, and Agreements:
8.1.5.2 Product Launches and Product Expansions:
8.1.6 SWOT Analysis
8.2 Schneider Electric SE
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Segmental and Regional Analysis
8.2.4 Research & Development Expense
8.2.5 Recent strategies and developments:
8.2.5.1 Partnerships, Collaborations, and Agreements:
8.2.5.2 Product Launches and Product Expansions:
8.2.6 SWOT Analysis
8.3 Cisco Systems, Inc.
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Regional Analysis
8.3.4 Research & Development Expense
8.3.5 Recent strategies and developments:
8.3.5.1 Partnerships, Collaborations, and Agreements:
8.3.6 SWOT Analysis
8.4 IBM Corporation
8.4.1 Company Overview
8.4.2 Financial Analysis
8.4.3 Regional & Segmental Analysis
8.4.4 Research & Development Expenses
8.4.5 SWOT Analysis
8.5 Siemens AG
8.5.1 Company Overview
8.5.2 Financial Analysis
8.5.3 Segmental and Regional Analysis
8.5.4 Research & Development Expense
8.5.5 Recent strategies and developments:
8.5.5.1 Partnerships, Collaborations, and Agreements:
8.5.6 SWOT Analysis
8.6 Wipro Limited
8.6.1 Company Overview
8.6.2 Financial Analysis
8.6.3 Segmental and Regional Analysis
8.6.4 Research & Development Expenses
8.6.5 SWOT Analysis
8.7 Honeywell International, Inc.
8.7.1 Company Overview
8.7.2 Financial Analysis
8.7.3 Segmental and Regional Analysis
8.7.4 Research & Development Expenses
8.7.5 SWOT Analysis
8.8 Oracle Corporation
8.8.1 Company Overview
8.8.2 Financial Analysis
8.8.3 Segmental and Regional Analysis
8.8.4 Research & Development Expense
8.8.5 SWOT Analysis
8.9 ABB Group
8.9.1 Company Overview
8.9.2 Financial Analysis
8.9.3 Segmental and Regional Analysis
8.9.4 Research & Development Expense
8.9.5 SWOT Analysis
8.10. Itron, Inc.
8.10.1 Company Overview
8.10.2 Financial Analysis
8.10.3 Segmental and Regional Analysis
8.10.4 Research & Development Expense
8.10.5 Recent strategies and developments:
8.10.5.1 Partnerships, Collaborations, and Agreements:
TABLE 1 Asia Pacific Smart Grid Market, 2018 - 2021, USD Million
TABLE 2 Asia Pacific Smart Grid Market, 2022 - 2028, USD Million
TABLE 3 Partnerships, Collaborations and Agreements– Smart Grid Market
TABLE 4 Product Launches And Product Expansions– Smart Grid Market
TABLE 5 Asia Pacific Smart Grid Market by Component, 2018 - 2021, USD Million
TABLE 6 Asia Pacific Smart Grid Market by Component, 2022 - 2028, USD Million
TABLE 7 Asia Pacific Solution Market by Country, 2018 - 2021, USD Million
TABLE 8 Asia Pacific Solution Market by Country, 2022 - 2028, USD Million
TABLE 9 Asia Pacific Smart Grid Market by Solution Type, 2018 - 2021, USD Million
TABLE 10 Asia Pacific Smart Grid Market by Solution Type, 2022 - 2028, USD Million
TABLE 11 Asia Pacific Smart Grid Distribution Management Market by Country, 2018 - 2021, USD Million
TABLE 12 Asia Pacific Smart Grid Distribution Management Market by Country, 2022 - 2028, USD Million
TABLE 13 Asia Pacific Substation AutomationMarket by Country, 2018 - 2021, USD Million
TABLE 14 Asia Pacific Substation AutomationMarket by Country, 2022 - 2028, USD Million
TABLE 15 Asia Pacific Smart Grid Network Management Market by Country, 2018 - 2021, USD Million
TABLE 16 Asia Pacific Smart Grid Network Management Market by Country, 2022 - 2028, USD Million
TABLE 17 Asia Pacific Smart Grid Metering Infrastructure Market by Country, 2018 - 2021, USD Million
TABLE 18 Asia Pacific Smart Grid Metering Infrastructure Market by Country, 2022 - 2028, USD Million
TABLE 19 Asia Pacific Smart Grid Security Market by Country, 2018 - 2021, USD Million
TABLE 20 Asia Pacific Smart Grid Security Market by Country, 2022 - 2028, USD Million
TABLE 21 Asia Pacific Smart Grid Communications Market by Country, 2018 - 2021, USD Million
TABLE 22 Asia Pacific Smart Grid Communications Market by Country, 2022 - 2028, USD Million
TABLE 23 Asia Pacific Others Market by Country, 2018 - 2021, USD Million
TABLE 24 Asia Pacific Others Market by Country, 2022 - 2028, USD Million
TABLE 25 Asia Pacific Services Market by Country, 2018 - 2021, USD Million
TABLE 26 Asia Pacific Services Market by Country, 2022 - 2028, USD Million
TABLE 27 Asia Pacific Smart Grid Market by End User, 2018 - 2021, USD Million
TABLE 28 Asia Pacific Smart Grid Market by End User, 2022 - 2028, USD Million
TABLE 29 Asia Pacific Commercial Market by Country, 2018 - 2021, USD Million
TABLE 30 Asia Pacific Commercial Market by Country, 2022 - 2028, USD Million
TABLE 31 Asia Pacific Industrial Market by Country, 2018 - 2021, USD Million
TABLE 32 Asia Pacific Industrial Market by Country, 2022 - 2028, USD Million
TABLE 33 Asia Pacific Residential Market by Country, 2018 - 2021, USD Million
TABLE 34 Asia Pacific Residential Market by Country, 2022 - 2028, USD Million
TABLE 35 Asia Pacific Smart Grid Market by Application, 2018 - 2021, USD Million
TABLE 36 Asia Pacific Smart Grid Market by Application, 2022 - 2028, USD Million
TABLE 37 Asia Pacific Distribution Market by Country, 2018 - 2021, USD Million
TABLE 38 Asia Pacific Distribution Market by Country, 2022 - 2028, USD Million
TABLE 39 Asia Pacific Transmission Market by Country, 2018 - 2021, USD Million
TABLE 40 Asia Pacific Transmission Market by Country, 2022 - 2028, USD Million
TABLE 41 Asia Pacific Consumption Market by Country, 2018 - 2021, USD Million
TABLE 42 Asia Pacific Consumption Market by Country, 2022 - 2028, USD Million
TABLE 43 Asia Pacific Generation Market by Country, 2018 - 2021, USD Million
TABLE 44 Asia Pacific Generation Market by Country, 2022 - 2028, USD Million
TABLE 45 Asia Pacific Smart Grid Market by Country, 2018 - 2021, USD Million
TABLE 46 Asia Pacific Smart Grid Market by Country, 2022 - 2028, USD Million
TABLE 47 China Smart Grid Market, 2018 - 2021, USD Million
TABLE 48 China Smart Grid Market, 2022 - 2028, USD Million
TABLE 49 China Smart Grid Market by Component, 2018 - 2021, USD Million
TABLE 50 China Smart Grid Market by Component, 2022 - 2028, USD Million
TABLE 51 China Smart Grid Market by Solution Type, 2018 - 2021, USD Million
TABLE 52 China Smart Grid Market by Solution Type, 2022 - 2028, USD Million
TABLE 53 China Smart Grid Market by End User, 2018 - 2021, USD Million
TABLE 54 China Smart Grid Market by End User, 2022 - 2028, USD Million
TABLE 55 China Smart Grid Market by Application, 2018 - 2021, USD Million
TABLE 56 China Smart Grid Market by Application, 2022 - 2028, USD Million
TABLE 57 Japan Smart Grid Market, 2018 - 2021, USD Million
TABLE 58 Japan Smart Grid Market, 2022 - 2028, USD Million
TABLE 59 Japan Smart Grid Market by Component, 2018 - 2021, USD Million
TABLE 60 Japan Smart Grid Market by Component, 2022 - 2028, USD Million
TABLE 61 Japan Smart Grid Market by Solution Type, 2018 - 2021, USD Million
TABLE 62 Japan Smart Grid Market by Solution Type, 2022 - 2028, USD Million
TABLE 63 Japan Smart Grid Market by End User, 2018 - 2021, USD Million
TABLE 64 Japan Smart Grid Market by End User, 2022 - 2028, USD Million
TABLE 65 Japan Smart Grid Market by Application, 2018 - 2021, USD Million
TABLE 66 Japan Smart Grid Market by Application, 2022 - 2028, USD Million
TABLE 67 India Smart Grid Market, 2018 - 2021, USD Million
TABLE 68 India Smart Grid Market, 2022 - 2028, USD Million
TABLE 69 India Smart Grid Market by Component, 2018 - 2021, USD Million
TABLE 70 India Smart Grid Market by Component, 2022 - 2028, USD Million
TABLE 71 India Smart Grid Market by Solution Type, 2018 - 2021, USD Million
TABLE 72 India Smart Grid Market by Solution Type, 2022 - 2028, USD Million
TABLE 73 India Smart Grid Market by End User, 2018 - 2021, USD Million
TABLE 74 India Smart Grid Market by End User, 2022 - 2028, USD Million
TABLE 75 India Smart Grid Market by Application, 2018 - 2021, USD Million
TABLE 76 India Smart Grid Market by Application, 2022 - 2028, USD Million
TABLE 77 South Korea Smart Grid Market, 2018 - 2021, USD Million
TABLE 78 South Korea Smart Grid Market, 2022 - 2028, USD Million
TABLE 79 South Korea Smart Grid Market by Component, 2018 - 2021, USD Million
TABLE 80 South Korea Smart Grid Market by Component, 2022 - 2028, USD Million
TABLE 81 South Korea Smart Grid Market by Solution Type, 2018 - 2021, USD Million
TABLE 82 South Korea Smart Grid Market by Solution Type, 2022 - 2028, USD Million
TABLE 83 South Korea Smart Grid Market by End User, 2018 - 2021, USD Million
TABLE 84 South Korea Smart Grid Market by End User, 2022 - 2028, USD Million
TABLE 85 South Korea Smart Grid Market by Application, 2018 - 2021, USD Million
TABLE 86 South Korea Smart Grid Market by Application, 2022 - 2028, USD Million
TABLE 87 Singapore Smart Grid Market, 2018 - 2021, USD Million
TABLE 88 Singapore Smart Grid Market, 2022 - 2028, USD Million
TABLE 89 Singapore Smart Grid Market by Component, 2018 - 2021, USD Million
TABLE 90 Singapore Smart Grid Market by Component, 2022 - 2028, USD Million
TABLE 91 Singapore Smart Grid Market by Solution Type, 2018 - 2021, USD Million
TABLE 92 Singapore Smart Grid Market by Solution Type, 2022 - 2028, USD Million
TABLE 93 Singapore Smart Grid Market by End User, 2018 - 2021, USD Million
TABLE 94 Singapore Smart Grid Market by End User, 2022 - 2028, USD Million
TABLE 95 Singapore Smart Grid Market by Application, 2018 - 2021, USD Million
TABLE 96 Singapore Smart Grid Market by Application, 2022 - 2028, USD Million
TABLE 97 Malaysia Smart Grid Market, 2018 - 2021, USD Million
TABLE 98 Malaysia Smart Grid Market, 2022 - 2028, USD Million
TABLE 99 Malaysia Smart Grid Market by Component, 2018 - 2021, USD Million
TABLE 100 Malaysia Smart Grid Market by Component, 2022 - 2028, USD Million
TABLE 101 Malaysia Smart Grid Market by Solution Type, 2018 - 2021, USD Million
TABLE 102 Malaysia Smart Grid Market by Solution Type, 2022 - 2028, USD Million
TABLE 103 Malaysia Smart Grid Market by End User, 2018 - 2021, USD Million
TABLE 104 Malaysia Smart Grid Market by End User, 2022 - 2028, USD Million
TABLE 105 Malaysia Smart Grid Market by Application, 2018 - 2021, USD Million
TABLE 106 Malaysia Smart Grid Market by Application, 2022 - 2028, USD Million
TABLE 107 Rest of Asia Pacific Smart Grid Market, 2018 - 2021, USD Million
TABLE 108 Rest of Asia Pacific Smart Grid Market, 2022 - 2028, USD Million
TABLE 109 Rest of Asia Pacific Smart Grid Market by Component, 2018 - 2021, USD Million
TABLE 110 Rest of Asia Pacific Smart Grid Market by Component, 2022 - 2028, USD Million
TABLE 111 Rest of Asia Pacific Smart Grid Market by Solution Type, 2018 - 2021, USD Million
TABLE 112 Rest of Asia Pacific Smart Grid Market by Solution Type, 2022 - 2028, USD Million
TABLE 113 Rest of Asia Pacific Smart Grid Market by End User, 2018 - 2021, USD Million
TABLE 114 Rest of Asia Pacific Smart Grid Market by End User, 2022 - 2028, USD Million
TABLE 115 Rest of Asia Pacific Smart Grid Market by Application, 2018 - 2021, USD Million
TABLE 116 Rest of Asia Pacific Smart Grid Market by Application, 2022 - 2028, USD Million
TABLE 117 KEY INFORMATION – GENERAL ELECTRIC Company
TABLE 118 Key information – Schneider Electric SE
TABLE 119 Key Information – Cisco Systems, Inc.
TABLE 120 Key information – IBM Corporation
TABLE 121 Key Information – Siemens AG
TABLE 122 Key Information – Wipro Limited
TABLE 123 Key Information – Honeywell International, Inc.
TABLE 124 Key Information – Oracle Corporation
TABLE 125 Key Information – ABB Group
TABLE 126 Key Information – Itron, Inc.
List of Figures
FIG 1 Methodology for the research
FIG 2 KBV Cardinal Matrix
FIG 3 Market Share Analysis, 2021
FIG 4 Key Leading Strategies: Percentage Distribution (2018-2022)
FIG 5 Key Strategic Move: (Partnerships, Collaborations & Agreements : 2018, Sep – 2023, Feb) Leading Players
FIG 6 Recent strategies and developments: General Electric Company
FIG 7 Swot analysis: General electric (GE) Co.
FIG 8 Recent strategies and developments: Schneider Electric SE
FIG 9 Swot analysis: Schneider Electric SE
FIG 10 SWOT Analysis: Cisco Systems, Inc.
FIG 11 Swot analysis: IBM Corporation
FIG 12 Swot analysis: Siemens AG
FIG 13 SWOT Analysis: Wipro Limited
FIG 14 Swot analysis: Honeywell international, inc.
FIG 15 SWOT analysis: Oracle Corporation
FIG 16 SWOT Analysis: ABB Group