Japan Smart Grid Network Market Outlook - Market Analysis by Components, Competitive Landscape, Key Company Information - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

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Japan’s smart grid market is expected to reach USD XX billion by 2020 from USD XX in 2015, growing at a CAGR of XX%.

As part of its plans to boost energy efficiency and power generation from renewable sources, Japan’s sustained efforts towards smart grid deployment is expected to drive the country to become one of the leading markets in the Asia-Pacific microgrids market.  Furthermore, the state has initiated a new program in 2014 to encourage micro grid development. With a budget of $7 million provided annually for three years, this program is expected to provide funding for independent demonstration projects, such as electric vehicles for mobility and storage, renewable energy production and storage systems, and energy efficiency optimization. Japan’s 10 leading power utilities have announced plans to complete residential smart meter rollouts by 2020, sooner than originally scheduled.

The main objectives of adopting smart grid technology differ by region. Japans main objective is to achieve a total shift from fossil fuels to renewable energy, generating a low carbon society. Reducing carbon dioxide (CO2) emissions is by no means easy, and is thought to require a large number of combined measures. One such measure is the utilization of renewable energy, and Japan promotes this measure through the development and employment of the natural grid. Based on these initiatives, the country’s smart grid network systems market is expected to grow rapidly in the coming decade.

There are various concerns with smart grid technology which include the cost of setting up, privacy concerns and the problem of various systems to work together. With major IT companies like Cisco coming in and innovations in sensors the future of smart grid network looks promising.

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