Smart Grid Sensors Market – Overview:
Advances in grid technology coupled with the rising need for sustainable solution in grid infrastructure is fuelling the demand for smart grid sensors. Market Research Future (MRFR) reports that the global Smart Grid Sensors Market Share is poised to surge at 18% CAGR between 2017 and 2023. This will see the Covid-19 Impact on Smart Grid Sensors Market reach a valuation of USD 4 Bn by the end of the forecast period.
Smart grid sensors are witnessing widespread adoption owing to their advantages. The need for generating real-time data to improve power transmission efficiency and reducing power dissipation is driving the adoption of smart grid sensors. The energy sector in striving to reduce cost and down-time. As a result, technologies such as smart grid sensors are gaining momentum.
Smart grid sensors help in assessing weather condition, temperature, power fluctuation among others. The high efficiency and reliability, makes smart grid sensors an important technology in the energy sector. The growing demand for energy and construction of new power grids is providing an impetus to the global smart grid sensors market.
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Some of the key players of Smart Grid Sensors Market include General Electric Company (U.S.), ABB Ltd. (Switzerland), Oracle Corporation (U.S.), Cisco Systems, Inc. (U.S.),Siemens AG (Germany), Schneider Electric SA (France), Itron, Inc. (U.S.), Landis+Gyr (Switzerland), Tech Mahindra Ltd. (India),Aclara Technologies LLC (U.S.), S&C Electric Company (Illinois, U.S.), Esyasoft Technologies Pvt. Ltd. (India), Open Systems International, Inc. (Minnesota, U.S.), Wipro Ltd. (India), Kamstrup A/S (Denmark), Trilliant Holdings, Inc. (U.S.), NexGrid, LLC. (U.S.), Globema (Poland), EnerNOC, Inc. (U.S), and e-Smart Systems Pvt. Ltd. (India)
The smart grid sensors market study is based on component, sensors, solutions, service, and application.
The sensors based segments of the smart grid sensors market are dynamic line rating sensors, voltage or temperature sensors, transformer monitoring sensors, outage detection sensors, and others. The component segments are sensors, AMI meter, programmable logic controller (PLC), networking hardware, and others. The service segments are deployment &integration, consulting, support & maintenance and others.
Smart grid sensors market segments by solutions are smart grid distribution management, Advance Metering Infrastructure (AMI), grid asset management, smart grid communication, billing &customer information system, and substation automation.
The application based segments of the smart grid sensors are supervisory control and data acquisition (SCADA), smart energy meter, Advanced Metering Infrastructure (AMI), and others
North America is presumed to dominate the world smart grid sensors market. Canada and the U.S are likely to lead in the region. It due to the rise in smart grid solutions suppliers in the region. The enhancement in the grid consistency can bolster the regional market rise. Besides, Europe can experience substantial rise through the forecast period. Regions, such as France, Germany, and the UK can lead the EU smart grid sensor market. It can be attributed to high investment in research and development projects, thus provides innovative techniques for optimization of the smart grids to prevent dissipation loss during transmitting the power to public. Asia Pacific smart grid sensors market is anticipated to rise across the forecast period. India and China are reputed as leaders with high growth prospects due to increase in demand for smart grid solutions, thus causing the regional market to surge.
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TABLE OF CONTENTS
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Porter’s Five Forces Analysis
4.1.1 Threat Of New Entrants
4.1.2 Bargaining Power Of Buyers
4.1.3 Threat Of Substitutes
4.1.4 Segment Rivalry
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