Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Smart Grid Sensors market.
Trusted Business Insights presents an updated and Latest Study on Smart Grid Sensors Market 2019-2029. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Smart Grid Sensors market during the forecast period (2019-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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The report covers forecast and analysis for the smart grid sensors market on a global and regional level. The study provides historical data from 2015 to 2018 along with a forecast from 2019 to 2025 based on revenue (USD Million). The study includes drivers and restraints for the smart grid sensors market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities and various trends in the smart grid sensors market on a global as well as regional level.
As per the report, the global demand for smart grid sensors market was valued at approximately USD 708 million in 2018 and is expected to generate revenue of around USD 2255.3 million by end of 2025, growing at a CAGR of around 18.0% between 2019 and 2025.
Smart grid sensors are tiny, lightweight nodes which function as a finding station in a sensor network providing real-time data about smart grid conditions. Smart grid sensors are important in current smart electric grid infrastructure to control and manage operations in all conditions, which include transmission, generation, distribution, and end-use.
The global smart grid sensors market is experiencing significant growth that is expected to continue over the upcoming years. The massive rise in demand for smart grid sensors by technological innovations in measurement science and standards for smart grid technology is likely to act as a key driver of the market. The rise in awareness about smart grid sensor measures among all end-user industries is expected to fuel the global smart grid sensors market within the forecast period. Increasing implementation of smart metering systems is expected to propel the smart grid sensors market in the upcoming years. Rapid industrialization and execution of smart grid sensor measures by numerous governments are expected to increase the demand for smart grid sensors during the years to come. Huge initial cost investment in the installation of smart grid sensors systems acts as a restraining factor that may hamper the growth of the smart grid sensors market. The rise in the acceptance of workplace safety standards in emerging countries is likely to set new opportunities for the major players of the market.
The global smart grid sensors market is mainly segmented into sensor type, component, service, solutions, application, and region. By sensor type, the global smart grid sensors market is segmented into the outage detection sensors, voltage/temperature sensors, dynamic line rating sensors, transformer monitoring sensors, and others. By component, the global smart grid sensors market is segmented into networking hardware, AMI meter, programmable logic controller (PLC), and others. By service, the global smart grid sensors market is mainly segmented into deployment & integration, consulting, support & maintenance, and others. By solutions, the global smart grid sensors market is mainly segmented into advance metering infrastructure (AMI), smart grid communication, smart grid distribution management, substation automation, grid asset management, and billing & customer information system. By application, the global smart grid sensors market is mainly segmented into supervisory control and data acquisition (SCADA), smart energy meter, advanced metering infrastructure (AMI), and others.
Asia Pacific is anticipated to be the fastest growing market for smart grid sensors over the next few years owing to the rising urbanization as well as industrialization in the region.
Some of the key players operating in the global smart grid sensors market include Aclara Technologies LLC, Honeywell International Inc., Toshiba Corporation, QinetiQ Group PLC, Sentient Energy, Inc., Siemens AG, GIPRO GmbH, ABB Ltd., General Electric Company, Eaton, Networked Energy Services Corporation, Torino Power Solutions Inc., ARTECHE, Ingenu Inc., and GRID20/20 Inc., among others.
By Sensor Type
Outage Detection Sensors
Dynamic Line Rating Sensors
Transformer Monitoring Sensors
Programmable Logic Controller (PLC)
Deployment & Integration
Support & Maintenance
Advance Metering Infrastructure (AMI)
Smart Grid Communication
Smart Grid Distribution Management
Grid Asset Management
Billing &Customer Information System
Supervisory Control And Data Acquisition (SCADA)
Smart Energy Meter
Advanced Metering Infrastructure (AMI)
Middle East and Africa
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