Smart Grid Market to reach $70bn by 2024 Smart Grid Market | Page 3

China smart grid industry is set to expand over 11% by 2024. Introduction of
government initiatives to increase the share of renewables in the existing generation
mix and develop green infrastructure will fuel the business growth. The government
aims at increasing the share of renewables in the existing generation mix to 15% by
2020 and 20% by 2030.
Growing investments toward grid digitalization through the implementation of
advanced communication technologies will foster the market. Growing focus toward
renewable grid integration coupled with intensifying need to upgrade ageing
electricity infrastructure will further facilitate the large-scale deployment of these
grids.
Key industry participants in the smart grid market include Hubbell, ABB, Schneider
Electric, General Electric, Fujitsu General, Belden, Oracle Itron, Landis+Gyr, Cisco,
Siemens, IBM, Honeywell Elster, Wipro.
Industry Coverage
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