PRZOOM - /newswire/ -
Singapore, Singapore, 2014/04/02 - Siemens was presented the Competitive Strategy Leadership Award in the Asia Pacific Distribution Grid Management Market at the 2013 Frost & Sullivan Asia Pacific Best Practices Awards held on the 17th of October at the St Regis Hotel, Singapore.
This Frost & Sullivan Award is presented each year to the company who has exhibited competitive strategy leadership, excelled in product innovation, and has recognized and responded to customer requirements in the market.
The Asia Pacific Smart Grid market is in the growth phase of market life-cycle; key markets such as Australia, Japan and South Korea leads in Distribution Grid Management implementation while countries in the ASEAN region are growing slowly.
Distribution Grid Management (DGM) identifies the key technologies installed to monitor and control the grid to reduce outages and reduce restoration time. Key technologies covered under DGM are regulated transformers, compact auto-reclosure switchgears, intelligent energy storage devices, network control systems and energy automation systems.
"The award recipient has exhibited remarkable growth in the Asia Pacific Distribution Grid Management market by doubling its revenues in 2012 through its innovative product range and astute pricing strategy. As a result, Siemens has won the confidence of several distribution utilities in the region to handle critical projects for DGM integration," said Avanthika Satheesh P., Senior Research Analyst for Energy & Environment, Frost & Sullivan Asia Pacific.
She continued,"Siemens offers the whole distribution grid management solutions package, a remarkable achievement for the company as certain technologies are comparatively new and still being developed."
In an emerging market in the Asia Pacific region, Siemens has already established itself as a ‘one stop' solution provider for DGM Solutions. Siemens' wide product range and spectrum of solutions is currently unmet by their competitors.
"Siemens' prominent brand name, vast product and solutions portfolio, and continued efforts to penetrate potential growth markets have made them a strong competitor in the DGM market. These cumulative factors make Siemens the most competent company to receive the 2013 Frost & Sullivan Competitive Strategy Leadership Award in the Asia Pacific Distribution Grid Management Market," Avanthika said.
The 2013 Frost & Sullivan Asia Pacific Best Practices Awards recognize companies across industries commending their diligence, commitment, and innovative business strategies required to advance in the global marketplace.
Frost & Sullivan identifies the outstanding industry achievements in the past year by companies in the local and regional markets through its in-depth analysis and coverage of these industries. In keeping with Frost & Sullivan's time-honoured commitment in pursuit of excellence and innovation, the awards offered are carefully reviewed and evaluated to reflect the current market landscape and include new emerging sectors.
For more details on the 2013 Frost & Sullivan Asia Pacific Best Practices Awards, please visit apacbp-awards.com/.
About Frost & Sullivan
Frost & Sullivan (frost.com), the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies? Contact us: Start the discussion.