smart grid equipment market in south korea 2015-2019
TRANSCRIPT
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Smart Grid Equipment Market in South Korea 2015-2019
The report discusses the following in-depth:
• Market Size and Forecast
• Market Segmentation
• Buying Criteria
• Vendor Landscape
• Business Segmentation
• Geographical Segmentation
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Smart Grid Equipment Market in South Korea
2015-2019,please mail us at
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Key Trends
Technavio’s Senior Analyst says, “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. The implementation of distributed energy resources has also increased.”
• A smart grid is a type of electrical grid that uses computer-based automation technology to integrate communication and information, available in digital or analog format, in order to facilitate and improve the power production and distribution process.
• 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.
• Understanding the key drivers influencing the market
• Understanding the challenges faced by the market
• Activities of various stakeholders involved
• Key focus areas for the vendors
• Major trends that will shape the future of this market
• Vendor landscape and trajectory of the market
• Conclusion
Scope of The Report
A detailed analysis of each market driver, challenge
and trend isavailable in our report:
Smart Grid Equipment Market in South Korea 2015-2019
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Vendors
To understand the vendor landscape and for a full list of vendors view our report:
Smart Grid Equipment Market in South Korea 2015-2019
ABB
General Electric Digital Energy
IBM
ABB was founded in 1988 and is headquartered in Zurich, Switzerland. The company provides automation and power technologies to utilities, transport, infrastructure, and other industries. Its products are sold in over 100 countries worldwide.
GE Digital Energy was established in 1892 and is headquartered in Canada. The company operates as a subsidiary of General Electric.
IBM is one of the largest vendors in the global big data services market. The company offers various types of hardware, software, consulting, and infrastructure services.
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Market Landscape
• The market is likely to see significant growth during the forecast period.
• The primary driver will be the growing need to integrate renewable energy and reduce energy consumption to control emissions from the power sector.
• South Korea's need to reduce its dependence on imports of energy resources, such as coal, oil, and natural gas, is also an important factor driving market growth.
• Upgrading power grids to smart grids will help South Korea save the costs of imports of coal, gas, and oil.
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Key Buying CriteriaGuest BloggersParameter Details
Cost-effectiveness
The cost of installation and overall smart grid technology should be kept low and easily affordable.
Data Privacy and Cyber Security
Digital networks, real-time contacts, high complexity, and network interconnections have increased the number of entry points, which increases vulnerability to cyber-attacks. Data in bi-directional flow should be safeguarded from cyber security attacks.
Efficiency The smart grid technology used to integrate renewable energy sources should be reliable and efficient.
Energy Independence It refers to a smart grid's ability to use renewable energy more effectively. This helps reduce dependency on fossil fuels.
Government IncentivesThe government should formulate favorable policies and provide grants to various power utilities.
ReliabilityThis refers to the ability of smart grids to manage peak loads, power quality, and outages to ensure reliable power supply.
• Growth Forecasts?
• Market Analysis?
• Revenue Forecasts?
• Regional and Country level Analysis?
• Competitive Structure?
• Emerging Trends?
• Vendor Landscape?
• Other?
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Smart Grid Equipment Market in South Korea
2015-2019
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