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At CAGR 18.3%: Smart Grid Sensors Market sales to Grow US$ 1,221.6 Million by 2027

At CAGR 18.3%: Smart

iCrowdNewswire   Nov 20, 2020  4:19 PM ET

According to our latest market study on “Smart Grid Sensors Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Sensor Type (Voltage and Current Sensor, Temperature Sensor, and Others), Voltage Range (Low to Medium Voltage and High Voltage),  and Application (Substation Automation, Advanced Metering Infrastructure, Smart Grid Distribution Network, and Others),” the market was valued at US$ 325.0 million in 2019 and is projected to reach US$ 1,221.6 million by 2027; it is expected to grow at a CAGR of 18.3% from 2020 to 2027.

Demand for energy is less among most residences, and the grid was developed to provide electricity to residences with monthly bills. The practice causes one-way interaction, making it difficult for the grid to respond to the changing and rising energy demands of today’s world. Adoption of the smart grid offers a two-way dialogue where electricity and data can be exchanged between customers and the utility. Growing network of controls, communications, computers, automation, and new advanced technologies and tools make smart grids more reliable, efficient, secure, and greener. It allows advanced technologies to be integrated, such as solar and wind energy production and plug-in electric vehicle charging. The smart grid technology replaces the traditional energy grid infrastructure, and it is anticipated to improve the overall operations across the energy & power sector during the forecast period.

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The report profiles the key players in the industry, along with a detailed analysis of their individual positions against the global landscape. The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the Smart Grid Sensors market. The researcher provides an extensive analysis of the Smart Grid Sensors market size, share, trends, overall earnings, gross revenue, and profit margin to accurately draw a forecast and provide expert insights to investors to keep them updated with the trends in the market.

Major Key Players Covered In This Report:

The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the Smart Grid Sensors market. Further, the report conducts an intricate examination of drivers and restraints operating in the market. The report also evaluates the trends observed in the parent market, along with the macro-economic indicators, prevailing factors, and market appeal with regard to different segments. The report predicts the influence of different industry aspects on the Smart Grid Sensors market segments and regions.

The global smart grid sensors market is segmented into sensor type, voltage range, and application. Based on sensor type, the market is further segmented into voltage and current sensor, temperature sensor, and others. Based on voltage range, the market is further bifurcated into low to medium voltage and high voltage. Based on application, the market is further segmented into substation automation, advanced metering infrastructure, smart grid distribution network, and others. ABB Ltd.; Aclara Technologies LLC; Itron Inc.; Kamstrup; LANDIS+GYR; Schneider Electric; Sentient Energy, Inc.; Siemens AG; Tech Mahindra Limited, Tollgrade Communication Inc., and Eaton Corporation plc are a few key players operating in the global smart grid sensors market.

Increasing advancements in the energy & power sector also bolster the growth of the smart grid sensors market in the region. Several international players are investing in the  energy & power sector in Canada that provides a steady macroeconomic environment with favorable government support.

The research on the Smart Grid Sensors market focuses on mining out valuable data on investment pockets, growth opportunities, and major market vendors to help clients understand their competitor’s methodologies. The research also segments the Smart Grid Sensors market on the basis of end user, product type, application, and demography for the forecast period 2020–2027. Comprehensive analysis of critical aspects such as impacting factors and competitive landscape are showcased with the help of vital resources, such as charts, tables, and infographics.

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The report segments the global smart grid sensors market as follows:

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