The global smart grid sensors market, as predicted by Market Research Future (MRFR) in their latest report, is expected to achieve 18% CAGR during the forecast period (2017-2023). In the process, it would scale and exceed a market valuation of USD 4 billion. Smart grid sensors comprise sensors, automated control techniques, and sophisticated software solutions, and is an effective way of transmitting power. Advanced sensors used in the technology provide real-time data to curb power loss and provide a reliable service. These are also efficient in controlling the weather which helps regional operators in saving time and money.
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The smart grid sensors market is expected to gain leverage from information and communication technology. The power distribution sector is expected to benefit from the sophistication it brings to the sector, along with efficiency, adaptability, and reliability. This would help the technology amass accolades from sectors. However, security concerns could pose as a threat to the market.
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 segmental analysis of the market has been conducted based on component, sensors, service, application and solution.
On the basis of component, the market has been segmented into sensors, programmable logic controller (PLC), networking hardware, AMI meter and others. On the basis of sensor, the market has been segmented into outage detection sensors, dynamic line rating sensors, voltage/temperature sensors, transformer monitoring sensors and others. On the basis of service, the market has been segmented into support & maintenance, deployment &integration, consulting and others. On the basis of application, the market has been segmented into Advanced Metering Infrastructure (AMI), supervisory control and data acquisition (SCADA), and smart energy meter and others. On the basis of solution, the market has been segmented into billing &customer information system, substation automation, smart grid communication, advance metering Infrastructure (AMI), grid asset management and smart grid distribution management.
On the basis of the region, the market has been segmented into Europe, Asia Pacific (APAC), North America and the Rest of the World (RoW). North America is expected to lead the global smart grid sensors market during the forecast period. Adoption of innovative technologies in the energy sector coupled with the increased inclination towards use of clean energy is key trend influencing the smart grid sensors market in North America. In recent years, market opportunities have increased substantially in the region.
The Europe smart grid sensors market is also expected to witness a sound growth in the forthcoming years. Germany, the UK, France, Netherland are among the important smart grid sensors markets in Europe. Moreover, increased environmental initiatives by Europe is likely to favour the market growth in Europe during the forecast period.
Asia Pacific is viewed as an important market for smart grid sensors. In fact, the APAC smart grid sensors market is likely to exhibit the highest CAGR during the assessment period. China and India are expected to represent standout shares in terms of revenue. On the years,
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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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