Smart Grid Sensors Market Size is Reach USD 1.56 Billion at a 18.3% CAGR by 2030 | E-Smart Systems Pvt. Ltd, EnerNOC Inc
Research Reports
Feb 06, 2023
Smart Grid Sensors Market Insights
According to MRFR analysis, the global Smart Grid Sensors market is expected to register a CAGR of ~18.3% from 2022 to 2030 and hold a value of over USD 1.56 Billion by 2030.
Smart grid sensors are used in the transmission of electricity and include complex software programs, automated control strategies, and technologically advanced sensors. The usage of real-time data by these sensors leads to minimal power dissipation, which lowers the cost. Additionally, it aids in enhancing power transmission dependability. This sensor system functions as a super-resistant solution, preventing frequent power and service outages, which greatly reduces costs and saves time. Furthermore, the weather is predicted using this sensor grid technology.
The COVID-19 wave has negatively impacted some industries, and sales and revenue are both declining. According to the Smart Grid Sensors market, the sector has several difficulties, just like any other sector. The industry utilizes fresh tactics to advance the procedures to meet these issues. The industry is effective in raising the sales rate among the targeted audience by adhering to such procedures. COVID-19 has impacted cookie production due to a shortage of transportation and social segregation policies. The supply chain and demand for Smart Grid Sensors have been affected by the COVID-19 sales figures. The major businesses and the government have implemented effective tactics to reduce the negative impact on the growth of the cookie industry.
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Key Players
Some of the key market players are-
- E-Smart Systems Pvt. Ltd
- EnerNOC Inc
- Globema
- NexGrid, Trilliant Holdings Inc
- Kamstrup A/S
- Wipro Ltd
- Open Systems International Inc
- Esyasoft Technologies Pvt. Ltd
- S&C Electric Company.
Report Scope:
|
Report Attribute/Metric |
Details |
|
Market Size in 2030 |
USD 1.56 Billion |
|
Growth rate: |
CAGR of 18.3% from 2022 to 2030 |
|
Forecast Period |
2020-2030 |
|
Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
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Regional Analysis
The North American area currently holds the greatest market share in the global market for smart grid sensors since there are more companies producing grid solutions, which helps to increase consistency and hence pushes the market. Another aspect is the existence of nations such as the US and Canada.
Smart Grid Sensors Market Segmentation
The global smart grid sensors market has been segmented into sensors, services, applications, components, and solutions.
Based on Sensors, the market has been segmented into Dynamic Line Rating Sensors, Transformer Monitoring Sensors, Outage Detection Sensors, Voltage/Temperature Sensors, and Others.
Based on Services, the market has been segmented into support & maintenance services, deployment & integration services, consulting services, and Others.
Based on Application, the market has been segmented into Advanced Metering Infrastructure (AMI), supervisory control and data acquisition (SCADA), smart energy meter, and Others.
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Based on Components, the market has been segmented into Programmable Logic Controller (PLC), networking hardware, sensors, AMI meter, and Others.
Based on Solutions, the market has been segmented into billing & customer information systems, substation automation, grid asset management, smart grid communication, smart grid distribution management, Advance Metering Infrastructure (AMI), and Others.
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