Jul 28, 2020 7:56 PM ET
iCrowd Newswire – Jul 28, 2020
Market Research Future published a research report on “Smart Grid Sensors Market Research Report- Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
The smart grid sensors industry is expected to rise at a high pace. As per Market Research Future (MRFR), states that the world smart grid sensors market size can value at USD 4 billion by 2023. As per MRFR, smart grid sensors 2020 can rise at 18 % CAGR through the assessment forecast period (2017-2023).
The smart grid sensor can effectively transmit power through automated control techniques, sensors, and other sophisticated software solutions. This advanced sensors are used to attain real time data to improve the reliability offered by power transmission. The growing need to minimize the dissipation of power and eventually reduction in the cost can boost the expansion of the Smart Grid Sensors Market. These super resistant feature of smart grid sensor for the distribution network can serve effectively to users. The smart grid market can expand due to regular power failures across different industries. The smart grid sensor are highly effective to check weather conditions and issues with temperature of power lines during the transmission of energy. These high efficacy and reliability of smart sensors can are gaining popularity across residential and commercial areas. The rise in energy efficiency can spur the growth of the market. On the downside, security concerns and high energy utility counterfeit can hinder the expansion of the smart grid sensor market through the review period 2017-2023
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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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- Research Firms.
- Government Agencies
- Smart grid technology solution providers
- Utility platform and analytics vendors
- System integrators/migration service providers
- Support and maintenance service providers
- Network service providers
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