Smart Grid Market in China 2015-2019
About Smart Grid
A smart grid is a power distribution system that is integrated with computer networking and intelligence capabilities. A smart grid enables two-way communication of electricity consumption information between customers and power grids, thereby providing value-added information pertaining to energy demand and energy consumption to end-users and power utilities. It efficiently monitors and controls power flows and manages the load to match real-time or near real-time power generation. One of the most significant features of a smart grid is that it enables distributed energy generation as well as integrated T&D between consumer devices and energy providers, facilitating efficient power management.
TechNavio's analysts forecast the Smart Grid market in China to grow at a CAGR of 22.7 percent over the period 2014-2019.
Covered in this Report
The report covers the present scenario and the growth prospects of the Smart Grid market in China for the period 2015-2018. Based on application, the Smart Grid market in China is segmented into six: Smart T&D Equipment, Communication and Wireless Infrastructure, Software and Hardware, Sensors, Smart Meters, and Others.
TechNavio's report, the Smart Grid Market in China 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the landscape of the Smart Grid market in China and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.Key Vendors
TechNavio Announces the Publication of its Research Report – Smart Grid Market in China 2015-2019
TechNavio recognizes the following companies as the key players in the Smart Grid Market in China: ABB Group, Accenture Inc., Alstom SA, GE Energy and Schneider Electric Co.
Other Prominent Vendors in the market are: BPL Global, Cisco Systems, Duke Energy, Echelon, Freescale Semiconductor, Holley Metering, HP, Huawei Technologies, Moxa, Shenzhen CLOU Electronics, Toshiba and XD Electric Group.
Commenting on the report, an analyst from TechNavio’s team said: “Increased investment in the Renewable Energy sector is one of the major trends emerging in the market. The growing population, high living standards, and rapid industrialization have had a negative effect on the environment and ecosystem of China. Consequently, the Chinese government has increased its focus toward environmental concerns such as GHG emissions and global warming.”
According to the report, the need for energy management is one of the key factors driving this market. Government and state utilities have started to adopt smart grids to reduce power outages and maintain a balance between electricity demand and supply.
Further, the report states that one of the major challenges in this market is the high susceptibility of smart grids to cyber-attacks. The software used in smart grids is highly susceptible to virus attacks and mishandling by engineers or operators. The essential information of the control systems governing the smart grids can be exposed to security threats because of the increased use of internet technologies in these grids.
ABB Group, Accenture , Alstom , GE Energy, Schneider Electric , BPL Global, Cisco Systems, Duke Energy, Echelon, Freescale Semiconductor, Holley Metering, HP, Huawei Technologies, Moxa, Shenzhen CLOU Electronics, Toshiba , XD Electric Group
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