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Technavio Says the Smart Grid Equipment Market in South Korea Will Grow Thanks to Integration of Advanced TechnologiesThe smart grid equipment market in South Korea is expected to grow at a CAGR of around 21% from 2015-2019, due to increased demand for energy-efficient solutions, says Technavio. About the Report Smart grids enable efficient and more intelligent energy management by converging technologies with existing systems, and through active peak load management. Energy storage systems integrated with smart grids optimize power quality and preserve electricity for efficient energy management. "Technological advances in the smart grid sector are expected to fuel more demand for these grids during the forecast period. For instance, the development of HAN has enabled the integration of smart meters with smart grids," says Faisal Ghaus, Vice President of Technavio. The latest report by Technavio also emphasizes increased environmental awareness in South Korea. The government has sharpened its focus on environmental concerns such as GHG emissions and global warming, which has spurred heightened investments in clean and renewable power generation. Market Scope and Calculation of Market Size The new Technavio report covers the present scenario and growth prospects of the smart grid equipment market in South Korea from 2015-2019. To calculate the mrket size, the report considers revenue generated by the market in the South Korean region through equipment-based segmentation and the growth patterns of the market. Key Information Covered in the Report:
Technavio currently has more than 3000 market research reports on a huge range of topics, including 200+ reports on the smart grid equipment market: If you are interested in more information, please contact our media team at [email protected].
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