Albany, NY -- (SBWIRE) -- 04/06/2016 -- 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.

The smart grid equipment market in South Korea to grow at a CAGR of 20.56% over the period 2014-2019. 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.

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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

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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?

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