Smart Grid Sensor Market 2022
The global Smart Grid Sensor Market is slated to constructively grace the ICT vertical going forward. RPA (Robotic Process Automation) is expected to take the world by storm. Various functionalities like interpretation of applications, data handling, processing transactions, and, for that matter, even replying to the emails are getting automated, which help in reducing the downtime. This would be the renaissance witnessed due to ICT vertical all over.
Persistence Market Research’s latest report on the global market for smart grid sensors projects that the market, which is presently valued at a little over US$ 128 Mn, will soar at a stellar CAGR of 30.3% to bring in US$ 1,447.3 Mn in revenues by the end of 2025.
The global energy sector is transitioning into intelligent, efficient network of power supply, and smart grids are actively replacing conventional power grids across the world. The demand for smart grid sensors grows in parallel with surging adoption of smart grid technology. In today’s day and age, detection and monitoring operations have helped save potential losses worth millions of dollars. Therefore, smart grid sensors are also expected to gain surplus demand in tomorrow’s energy industry.
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Key Players:
The report has profiled some of the Important players prevalent in the global like – ABB Ltd., Aclara Technologies LLC, General Electric Company, Honeywell International Inc., Eaton, Toshiba Corporation, Networked Energy Services Corporation, QinetiQ Group PLC, Torino Power Solutions Inc., Sentient Energy, Inc., ARTECHE, Siemens AG, Ingenu Inc., GIPRO GmbH, GRID20/20 Inc and more.
This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Smart Grid Sensor.
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Key findings in the report exhibit that the global smart grid sensors market will have a steadfast growth during the assessment period, 2017-2025. In this period, the dynamic growth of the global smart grid sensor market will be impacted by several factors, among which following have an enduring influence:
- Extreme Weather Conditions: Severe climate and harsh environment is disrupting the operational efficiency of smart grids, compelling the deployment of thermal sensors that can detect temperature differences and adapt to drastic weather changes, particularly in the US.
- Electricity Thefts: Rising incidence of electricity thefts in developing & underdeveloped regions is driving the adoption of smart grids. In Latin American countries, power authorities are monitoring such malpractices with help of sensors that identify faux power glitches.
- Proliferation of IoT: Internet of Things (IoT) is influencing the sales of smart grid sensors but remuneratively. Presently, utilities companies in Europe are looking to leverage IoT to improve development and operation of smart grids by connecting unique devices, which will end up creating an intelligent & self-sustained energy ecosystem.
Ineffectiveness of older power grids, increasing energy demands, and implementation of smart metering systems has also propelled the global demand for smart grid sensors. According to the report, titled “Smart Grid Sensors Market: Global Industry Trend Analysis 2012 to 2016 and Forecast 2017–2025,” rising concern regarding safety & security of smart grids, and high implementation costs of smart grid sensors is likely to impede the global market’s growth, but to a certain extent.
Region Coverage (Regional Production, Demand & Forecast by Countries etc.):
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
Asia-Pacific (China, India, Japan, Southeast Asia etc.)
South America (Brazil, Argentina etc.)
Middle East & Africa (Saudi Araia, South Africa etc.)
Key Stakeholders
Smart Grid Sensor Market Manufacturers
Smart Grid Sensor Market Distributors/Traders/Wholesalers
Smart Grid Sensor Market Subcomponent Manufacturers
Industry Association
Downstream Vendors
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Key Questions Answered in the Smart Grid Sensor Market Report
How is the Smart Grid Sensor Market expected to grow over the projected period?
What direction is the Smart Grid Sensor Market expected to take in terms of volume and value during the forecast period?
What is the impact of macroeconomic factors on the Smart Grid Sensor Market in future?
What are the key market drivers in the Smart Grid Sensor Market?
What are significant opportunities and improvement areas for Smart Grid Sensor Market manufacturers?
What are the key developments and trends taking over the Smart Grid Sensor Market?
Which are the emerging countries that are expected to create significant growth opportunities in the Smart Grid Sensor Market?
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