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According to a new report by Navigant Research, Southeast Asia largely reflects the fact that it is fundamentally changing its power systems to adopt smart grid frameworks
compared to developed countries.
Future grid revenue in Southeast Asia is expected to grow from approximately $5.
5 billion in 2018 to nearly $13 billion by 2027, at a compound annual growth rate (CAGR) of 9.
7%,
the report said.
Although the market is developing slowly, this market is changing
due to factors such as urbanization, population growth, and consumption patterns.
"In Southeast Asia, Singapore and Malaysia have become leaders in grid intelligence in the region, and countries like Vietnam and Indonesia are just getting started, and the market is very promising," said
Michael Kelly, research analyst at Navigant Research.
Market forces, including distributed energy resources and government support, are also helping to push the region beyond simple electrification plans and basic IT infrastructure deployments
.
As the transformation in Southeast Asia continues and a long-term stable smart grid roadmap becomes increasingly popular, spending on distributed generation and utilities in the IT and analytics markets is expected to increase
.
According to a new report by Navigant Research, Southeast Asia largely reflects the fact that it is fundamentally changing its power systems to adopt smart grid frameworks
compared to developed countries.
Future grid revenue in Southeast Asia is expected to grow from approximately $5.
5 billion in 2018 to nearly $13 billion by 2027, at a compound annual growth rate (CAGR) of 9.
7%,
the report said.
Although the market is developing slowly, this market is changing
due to factors such as urbanization, population growth, and consumption patterns.
"In Southeast Asia, Singapore and Malaysia have become leaders in grid intelligence in the region, and countries like Vietnam and Indonesia are just getting started, and the market is very promising," said
Michael Kelly, research analyst at Navigant Research.
Market forces, including distributed energy resources and government support, are also helping to push the region beyond simple electrification plans and basic IT infrastructure deployments
.
As the transformation in Southeast Asia continues and a long-term stable smart grid roadmap becomes increasingly popular, spending on distributed generation and utilities in the IT and analytics markets is expected to increase
.
