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Smart Grid Equipment Market in South Korea 2015-2019

Smart Grid Equipment Market in South Korea 2015-2019

About smart grid

Smart grid is the integration and implementation of communication, automation and IT systems with the traditional electrical grid with the ability to monitor and control power flows from points of generation to consumption and manage the load to match generation in real-time or near real-time. Smart grid increases the predictability, visibility and control of generation and demand, bringing flexibility to the whole system. This facilitates the integration of intermittent energy from renewable generation and peak load management, which helps reduce the costs of peak power. The transformation of electrical grids to smarter grids depends on various smart grid equipment.

Technavio's analysts forecast the smart grid equipment market in South Korea to grow at a CAGR of 20.56% over the period 2014-2019.

Covered in this report

The smart grid equipment market in South Korea can be segmented on the basis of equipment type: smart meters, software and hardware, smart T&D equipment, communication and wireless network infrastructure, and sensors.

Technavio's report, Smart Grid Equipment Market in South Korea 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors

  • ABB
  • GE Energy
  • IBM
  • POSCO ICT
  • Siemens Energy
Other prominent vendors
  • GS Caltex
  • Hyosung
  • Hyundai Heavy Industries
  • KT
  • LG Electronics Alstom
  • Nuri Telecom
  • SK Energy
  • SK Telecom
Market driver
  • Need for energy efficient solutions and management
  • For a full, detailed list, view our report
Market challenge
  • High cost of implementation
  • For a full, detailed list, view our report
Market trend
  • Increased environmental concerns
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2019 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the key vendors?
  • What are the strengths and weaknesses of the key vendors?


Press Release

Technavio Announces the Publication of its Research Report – Smart Grid Equipment Market in South Korea 2015-2019

Technavio recognizes the following companies as the key players in the smart grid equipment market in South Korea: ABB, GE Energy, IBM, POSCO ICT and Siemens Energy

Other Prominent Vendors in the market are: GS Caltex, Hyosung, Hyundai Heavy Industries, KT, LG Electronics Alstom, Nuri Telecom, SK Energy and SK Telecom

Commenting on the report, an analyst from Technavio’s team said: “An increasing population, coupled with high living standards and rapid industrialization, has had a negative impact on the natural environment of South Korea. Consequently, the government has sharpened its focus on environmental concerns such as GHG emissions and global warming. Fossil-fuel-based power generation has been identified as one of the key sources of GHG. The power plants have been instructed to reduce these emissions. South Korea is also investing in clean and renewable power generation.”

According to the report, environmental concerns have grown over the years in South Korea. As smart grids have the ability to integrate the power generated from renewable and non-renewable resources, increased investment in the renewable energy sector is expected to propel the growth of the market.

Further, the report states that the software used in smart grids is susceptible to cyber-attacks and mishandling by engineers or operators.

Companies Mentioned

ABB, GE Energy, IBM, POSCO ICT, Siemens Energy, GS Caltex, Hyosung, Hyundai Heavy Industries, KT, LG Electronics Alstom, Nuri Telecom, SK Energy, SK Telecom

  • Executive Summary
  • List of Abbreviations
  • Scope of the Report
    • Market Overview
    • Product Offerings
  • Market Research Methodology
    • Market Research Process
    • Research Methodology
      • Table Market Research Methodology
  • Introduction
  • Market Landscape
    • Market Overview
    • Technological Overview
      • Software and Hardware Technologies
        • Table SCADA Functionalities
      • Smart Meters
        • Table Advantages of Smart Meters
      • Sensors
        • Table Advantages of Using Smart Sensors
      • Communication and Wireless Network Infrastructure
      • Smart T&D Equipment
    • Market Size and Forecast
      • Market Size and Forecast
        • Table Smart Grid Equipment Market in South Korea 2014-2019($ millions)
    • South Korea Smart Grid Vision, Goals, and Roadmap
      • Table Vision and Goals of South Korea Smart Grid
      • Table South Korea Smart Grid Roadmap
    • Five Forces Analysis
  • Market Segmentation by Equipment
    • Smart Grid Equipment Market in South Korea 2014
      • Table Smart Grid Equipment Market in South Korea 2014
    • Smart Grid Equipment Market in South Korea 2019
      • Table Smart Grid Equipment Market in South Korea 2019
    • Smart Grid Equipment Market in South Korea 2014-2019
    • Smart Grid Equipment Market in South Korea by Smart Meters
      • Market Size and Forecast
        • Table Smart Grid Equipment Market in South Korea by Smart Meters 2014-2019 ($ millions)
    • Smart Grid Equipment Market in South Korea by Smart T&D Equipment
      • Market Size and Forecast
        • Table Smart Grid Equipment Market in South Korea by Smart T&D Equipment 2014-2019 ($ millions)
    • Smart Grid Equipment Market in South Korea by Communication and Wireless Network Infrastructure
      • Market Size and Forecast
        • Table Smart Grid Equipment Market in South Korea by Communication and Wireless Network Infrastructure 2014-2019 ($ millions)
    • Smart Grid Equipment Market in South Korea by Software and Hardware Technologies
      • Market Size and Forecast
        • Table Smart Grid Equipment Market in South Korea by Software and Hardware Technologies 2014-2019 ($ millions)
    • Smart Grid Equipment Market in South Korea by Sensors
      • Market Size and Forecast
        • Table Smart Grid Equipment Market in South Korea by Sensors 2014-2019 ($ millions)
  • Jeju Smart Grid Test-bed Project
    • Key Facts
      • Drivers for Pilot Project on Jeju Island
      • Project Stages:
  • Buying Criteria
  • Market Growth Drivers
    • Table Coal and Natural Gas Imports in South Korea (2010-2013)
  • Drivers and their Impact
  • Market Challenges
  • Impact of Drivers and Challenges
  • Market Trends
  • Trends and their Impact
  • Vendor Landscape
    • Competitive Scenario
      • Key News
      • Mergers and Acquisitions
    • Other Prominent Vendors
  • Key Vendor Analysis
    • ABB
      • Key Facts
      • Business Overview
      • Business Segmentation by Revenue 2014
        • Table ABB: Business Segmentation by Revenue 2014
      • Business Segmentation by Revenue 2013 and 2014
        • Table ABB: Business Segmentation by Revenue 2013 and 2014 ($ billions)
      • Geographical Segmentation 2014
        • Table ABB: Geographical Segmentation 2014
      • Business Strategy
      • Recent Developments
      • SWOT Analysis
    • General Electric Digital Energy
      • Key Facts
      • Business Overview
      • Product Segmentation
        • Table General Electric Digital Energy: Product Segmentation 2013
      • Recent Developments
      • SWOT Analysis
    • IBM
      • Key Facts
      • Business Overview
      • Business Segmentation
        • Table IBM: Business Segmentation
      • Business Segmentation by Revenue
        • Table IBM: Business Segmentation by Revenue 2013
      • Business Segmentation by Revenue 2013
        • Table IBM: Business Segmentation by Revenue 2013
      • Business Segmentation by Revenue 2012 and 2013
        • Table IBM: Business Segmentation by Revenue 2012 and 2013 ($ millions)
      • Geographical Segmentation by Revenue
        • Table IBM: Geographical Segmentation by Revenue 2013
      • Business strategy
      • Key developments
      • SWOT analysis
    • Posco ICT
      • Key Facts
      • Business Overview
      • End-markets
        • Table Posco ICT: End-markets
      • Solutions
        • Table Posco ICT: Solutions
      • Geographical Presence
        • Table Posco ICT: Geographical Presence
      • Business Strategy
      • Recent Developments
      • SWOT analysis
    • Siemens Energy
      • Key Facts
      • Business Overview
      • Business Segmentation
        • Table Business Segmentation of Siemens Energy 2013
        • Table Business Segmentation of Siemens Energy by Revenue 2012 and 2013 ($ billions)
      • Geographical Segmentation
        • Table Geographical Segmentation of Siemens Energy by Revenue 2013
      • Business Strategy
      • Key Information
      • SWOT Analysis
  • Other Reports in this Series

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