Thursday 23 April 2015, Amsterdam
The report 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.
The report 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.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.