Sales of smart grid sensor services are projected to increase at 13% CAGR and be valued at over US$ 720 Mn by 2025.
The global Smart Grid Sensor Market is bound to grow on a robust note in the forecast period. The current scenario is such that the key stakeholders are into devising ASIC chips of their own to cater to their own distinctive products. As such, integration of hardware and software could happen in a better manner, that too, while keeping themselves distinctive from their counterparts. This would be the scene with semiconductors vertical going forward. Almost every industry vertical looks for sensors. Smartphones do incorporate sensors like ambient light sensor, accelerometer, temperature sensors, gyroscopes, and proximity sensors for keeping a track on the parameters. The sensors market is growing on an unabated note in IT & telecom, automotive, consumer electronics vertical and the trend is expected to continue even going forward.
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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 2027.
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.
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.
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.
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Key geographies evaluated in this report are:
North America – U.S, Canada
Europe – France, Germany, Italy, Spain, and the UK, Eastern Europe, CIS
APAC – China, India, Japan, Australia, Others
Latin America – Argentina, Brazil, Others
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 This Report.
- What will the Market growth rate in Future?
- What are the key factors driving the global Market?
- Who are the key manufacturers in Market space?
- What are the opportunities and threats faced by the vendors in the global industry?
- What are sales, revenue, and price analysis by regions of industry?
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