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 sensor is, typically, an advanced technology in the field of power transmission that consists of sensors, automated control techniques, and sophisticated software solutions. This advanced sensors uses the real time data to enhance the reliability of power transmission and minimize the power dissipation which eventually reduce the cost. These smart grid sensor acts a super resistant solution for the distribution network, which serves as time and cost savers, which caused due to service and regular power failures in different industries. The smart grid sensor are very effective in checking weather conditions and temperature of power lines while transmitting the energy. These smart sensor are very efficient and reliable to be used in commercial and residential areas to increase the energy efficiency. At present, the smart grid sensors are at burgeoning stage in the emerging economies such as India, China, and few parts of Asia Pacific region.
The smart grid sensor has become a revolutionary technique in the distribution field as well as in the information and communication technology. The integration of software such as supervisory control and data acquisition (SCADA) and smart grid distribution management has modernized the existing power grid system to become more sophisticated in terms of efficiency, adaptability and reliability. In the lines of these factors, the smart grid sensor are expected to show a significant growth over the forecast period.
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On the other hand, security concerns and increase energy utility counterfeit are presumed to hinder growth of the smart grid sensor market over the review period 2017-2023
The global smart grid sensors market is expected to reach approximately USD 4 billion by 2023 at a CAGR of 18 % over the forecast period 2017-2023.
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 is differentiated by sensors, component, service, solutions, and application.
Based on sensors, the smart grid sensors market is sub-segmented into voltage/temperature sensors, outage detection sensors, transformer monitoring sensors, dynamic line rating sensors, and others. The component segment consists of AMI meter, sensors, networking hardware, programmable logic controller (PLC), and others. Furthermore, the service is classified into consulting, deployment &integration, support & maintenance and others.
Smart grid sensors is further divided on the basis of solutions that include Advance Metering Infrastructure (AMI), smart grid distribution management, smart grid communication, grid asset management, substation automation, and billing &customer information system.
On the basis of application segment, the smart grid sensors is segmented into smart energy meter, supervisory control and data acquisition (SCADA), Advanced Metering Infrastructure (AMI), and others
Geographically, the smart grid sensors is segmented into four different regions namely North America, Asia Pacific, Europe, and the Rest of the World.
North America is presumed to be the dominating region in smart grid sensors market. The U.S. and Canada are the leading countries in this region. This is due to the surging smart grid solutions providers in the region to enhance the grid consistency. Furthermore, Europe is anticipated to have a substantial growth over the forecast period. The countries such as Germany, France and the U.K are the leading countries in the region. This is attributed to a huge investment in research and development for providing innovative techniques to optimize the dissipation loss while transmitting the power to general public. Asia Pacific is also anticipated to be the fastest growing region in the smart grid sensors market over the forecast period. India and China are the leading countries to be a better prospect region owing to increasing demand for the smart grid solutions.
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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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