As per this study the Global Smart Grid Sensors Market was valued USD XX MN (by revenue) in 2021 and is anticipated to reach USD XX MN by 2027 with a CAGR of XX%.
Smart grid sensors are small and lightweight nodes that serve as a detection station in a sensor network offering real-time information regarding grid conditions, where the utilities remain most blind and can work autonomously when equipped with a communication interface. Smart grid sensors have advantages associated such as cost-efficient and ease of installation. Also, these sensors are battery-free and help in delivering the fault location so the utilities can restore power faster and most importantly aid utilities in preventing the next outage.
Advancement in measurement science and standards for smart grid technologies along with the rising R& D in order to develop an enhanced smart grid sensor is driving the market growth. The energy sector is the major application area which has numerous application of smart grid sensor, thus increasing energy demand is raising the product demand. Also, rising implementation of smart metering systems has also propelled the demand for smart grid sensors across the globe. On the flip side, the high installation cost of the product is likely to impede the market growth.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of smart grid sensors.
The broad smart grid sensors market has been sub-grouped into product and application. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
- Cellular Sensor
- Wi-Fi Sensor
- Demand Response
- Data Collection & Control
Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for smart grid sensors in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global Smart Grid Sensors Market Share by Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the smart grid sensors market include Aclara Technologies LLC., Arteche, Eaton (Cooper Industries plc), Landis+Gyr, Mitsubishi Electric Corporation, and Sentient. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
A combination of primary and secondary research has been used to determine the market estimates and forecasts. Sources used for secondary research include (but not limited to) Paid Data Sources, Company Websites, Technical Journals, Annual Reports, SEC Filings and various other industry publications. Specific details on methodology used for this report can be provided on demand.