Singapore --- (METERING.COM) --- October 15, 2012 - In the Asia-Pacific, Australia and Singapore are the ideal destinations for smart grid companies as these countries have sound industrial infrastructure, according to analysts Frost & Sullivan.
However, in due course, other countries will follow their lead and create an environment conducive to the growth of the smart grid market.
Frost & Sullivan estimate the smart grid market in the Asia-Pacific to have earned revenues of $1.4 billion in 2011, and with growth it could reach $3 billion by 2018.
Smart grids are gaining in importance in Southeast Asia and Australia-New Zealand, as environmental agencies are pressuring governments to conserve their resources, says Frost & Sullivan. Countries such Singapore and Indonesia, which are densely populated, are investing significantly in smart grid technologies. This has created a huge market for telecom operators, equipment manufacturers and other services providers.
According to Frost & Sullivan, there is a growing realization that several industries must grow in tandem to make the most of a smart grid system. This is prompting higher investments in software and IT services for the smart grid to aid with real time data analysis.
“It is also felt that closed loop systems will gain prominence in the monitoring and controlling of smart grids,” said Frost & Sullivan research analyst Krishnan Ramanathan. “Hence, complete integration of systems will provide opportunities for automation manufacturers.”