Smart Grid Sensors Market Growth, Size, Trends, Demand, Revenue, Challenges and Future Outlook
Smart Grid Sensors Market Size- By Sensor, By Application- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Nov-2023 | Report ID: IACT23174 | Pages: 1 - 221 | Formats*: |
| Category : Information & Communications Technology | |||
Smart Grid Sensors Market Introduction and Overview
According to SPER Market Research, the Global Smart Grid Sensors Market is estimated to reach USD 2.84 billion by 2033 with a CAGR of 19.11%.
The report includes an in-depth analysis of the Global Smart Grid Sensors market, including market size and trends, product mix, distribution channels, and supplier analysis. A smart grid sensor is a gadget that collects data from the electricity system. These sensors are capable of measuring a variety of factors, including current, temperature, voltage, and power usage. These sensors' data can be utilized to improve the efficiency, reliability, and security of the electric power system. Connecting smart grid sensors to the Internet allows the data they collect to be transferred to a remote location for monitoring and analysis. Some smart grid sensor systems employ advanced machine learning and analytics algorithms to discover trends and anomalies in data, which can assist utilities in detecting and preventing problems such as power outages and equipment breakdowns.
- Schneider- Electric acquired DC Systems BV, a significant distributor of smart systems, which benefited the company in developing electrical distribution advancements.
- ABB Power Grids Hitachi introduced the smart digital substation. With the help of the company's Lumada Asset Performance Management (APM) system, this new product combines the most recent advancements in digital substation technology with special prescriptive, predictive, and prognostic capabilities.
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Market Opportunities and Challenges
Opportunities: As the electrification movement continues to gain traction, there is a noticeable and swift increase in the need for electricity as well as efficient power transmission and distribution. According to an International Energy Agency (IEA) analysis, the global demand for electricity is expected to increase. Supervisory control and data acquisition (SCADA) software is a modern solution that is built on efficiency, dependability, and flexibility. It offers numerous opportunities for growth.
Many smart city initiatives in emerging countries combine the application of various domains such as technology, mobility, the environment, lifestyle, and government policies to create sustainable economic growth and enhanced quality of life. Additionally, due to intensive continuing research into smart solutions, possibilities for the growth of the smart grid sensors market may present themselves during the estimated time.
Challenges: The high deployment costs and intricate system integration of smart grid sensors, however, may serve as a barrier to future market share growth for these sensors. Furthermore, security worries and a lack of knowledge about smart grid technologies could impede industry expansion. The smart grid sensors business, on the other hand, may see growth opportunities as a result of the ongoing smart city projects in developing nations.
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Market Competitive Landscape
The market for Global Smart Grid Sensors is highly competitive. This research includes information on Landis+Gyr, Trilliant, Itron, S&C Electric, Sentient Energy, Inc., ABB, GE Grid Solutions, Siemens, Aclara Technologies LLC, and Echelon Corporation. The main suppliers of smart grid sensors have a tendency to make significant investments in R&D, product innovation, and energy and smart infrastructure research and development.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Sensor, By Application |
| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe |
| Companies Covered | s&c electric company, Itron, Inc., Aclara Technologies LLC, Trilliant, Echelon Corporation, ABB, ge grid solutions, Landis+Gyr, Siemens, Sentient Energy, Inc. |
COVID-19 Impact on Global Smart Grid Sensors Market
The COVID-19 pandemic had a noteworthy impact on the expansion of the outdoor manufacturing and industrial sectors in 2020. Nevertheless, the year 2021 saw a comparatively large growth in the deployment of modern networking and communication technology. However, the COVID-19 pandemic put up a number of barriers that primarily hurt the smart grid sensors business, including a shortage of trained labour and project delays or cancellations brought on by global lockdowns, either partial or whole.
Key Target Audience
- Appliance Manufacturers
- Government and Regulatory Agencies
- Environmental and Sustainability Organizations
- Distributors and Retailers
- End-User
Our in-depth analysis of the Smart Grid Sensors Market includes the following segments:
| By Sensor: |
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| By Application: |
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| By Region: |
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Key Topics Covered in the Report
- Global Smart Grid Sensors Market Size (FY’2023-FY’2033)
- Overview of Global Smart Grid Sensors Market
- Segmentation of Global Smart Grid Sensors Market By Sensor (Voltage and Temperature Sensors, Outage Detection, Others)
- Segmentation of Global Smart Grid Sensors Market By Application (Advanced Metering Infrastructure, Smart Grid Distribution Management, Supervisory Control and Data Acquisition, Smart Energy Meter, Others)
- Statistical Snap of Global Smart Grid Sensors Market
- Expansion Analysis of Global Smart Grid Sensors Market
- Problems and Obstacles in Global Smart Grid Sensors Market
- Competitive Landscape in the Global Smart Grid Sensors Market
- Impact of COVID-19 and Demonetization on Global Smart Grid Sensors Market
- Details on Current Investment in Global Smart Grid Sensors Market
- Competitive Analysis of Global Smart Grid Sensors Market
- Prominent Players in the Global Smart Grid Sensors Market
- SWOT Analysis of Global Smart Grid Sensors Market
- Global Smart Grid Sensors Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Smart Grid Sensors Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Smart Grid Sensors Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Smart Grid Sensors Market
7. Global Smart Grid Sensors Market, By Sensor (USD Million)
7.1. Global Smart Grid Sensors Market Value Share and Forecast, By Sensor, 2023-20337.2. Voltage and Temperature Sensors7.3. Outage Detection7.4. Others
8. Global Smart Grid Sensors Market, By Application (USD Million)
8.1. Global Smart Grid Sensors Market Value Share and Forecast, By Application, 2023-20338.2. Advanced Metering Infrastructure8.3. Smart Grid Distribution Management8.4. Supervisory Control and Data Acquisition8.5. Smart Energy Meter8.6. Others
9. Global Smart Grid Sensors Market Forecast, 2019-2033 (USD Million)
9.1. Global Smart Grid Sensors Market Size and Market Share
10. Global Smart Grid Sensors Market, By Sensor, 2019-2033 (USD Million)
10.1. Global Smart Grid Sensors Market Size and Market Share By Sensor (2019-2026)10.2. Global Smart Grid Sensors Market Size and Market Share By Sensor (2027-2033)
11. Global Smart Grid Sensors Market, By Application, 2019-2033 (USD Million)
11.1. Global Smart Grid Sensors Market Size and Market Share By Application (2019-2026)11.2. Global Smart Grid Sensors Market Size and Market Share By Application (2027-2033)
12. Global Smart Grid Sensors Market, By Region, 2019-2033 (USD Million)
12.1. Global Smart Grid Sensors Market Size and Market Share By Region (2019-2026)12.2. Global Smart Grid Sensors Market Size and Market Share By Region (2027-2033)12.3. Asia-Pacific
12.3.1. Australia12.3.2. China12.3.3. India12.3.4. Japan12.3.5. South Korea12.3.6. Rest of Asia-Pacific
12.4. Europe
12.4.1. France12.4.2. Germany12.4.3. Italy12.4.4. Spain12.4.5. United Kingdom12.4.6. Rest of Europe
12.5. Middle East and Africa
12.5.1. Kingdom of Saudi Arabia12.5.2. United Arab Emirates12.5.3. Rest of Middle East & Africa
12.6. North America
12.6.1. Canada12.6.2. Mexico12.6.3. United States
12.7. Latin America
12.7.1. Argentina12.7.2. Brazil12.7.3. Rest of Latin America
13. Company Profile
13.1. ABB
13.1.1. Company details13.1.2. Financial outlook13.1.3. Product summary13.1.4. Recent developments
13.2. Aclara Technologies LLC
13.2.1. Company details13.2.2. Financial outlook13.2.3. Product summary13.2.4. Recent developments
13.3. Echelon Corporation
13.3.1. Company details13.3.2. Financial outlook13.3.3. Product summary13.3.4. Recent developments
13.4. ge grid solutions
13.4.1. Company details13.4.2. Financial outlook13.4.3. Product summary13.4.4. Recent developments
13.5. Itron, Inc.
13.5.1. Company details13.5.2. Financial outlook13.5.3. Product summary13.5.4. Recent developments
13.6. Landis+Gyr
13.6.1. Company details13.6.2. Financial outlook13.6.3. Product summary13.6.4. Recent developments
13.7. s&c electric company
13.7.1. Company details13.7.2. Financial outlook13.7.3. Product summary13.7.4. Recent developments
13.8. Sentient Energy, Inc.
13.8.1. Company details13.8.2. Financial outlook13.8.3. Product summary13.8.4. Recent developments
13.9. Trilliant
13.9.1. Company details13.9.2. Financial outlook13.9.3. Product summary13.9.4. Recent developments
13.10. Others
14. List of Abbreviations
15. Reference Links
16. Conclusion
17. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Smart Grid Sensors Market is projected to reach USD 2.84 billion by 2033, growing at a CAGR of 19.11% during the forecast period.
Smart Grid Sensors Market grew in market size from 2022. The Market is expected to reach USD 2.84 billion by 2033, at a CAGR of 19.11% during the forecast period.
Smart Grid Sensors Market CAGR of 19.11% during the forecast period.
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Smart Grid Sensors Market size is USD 2.84 billion from 2023 to 2033.
Smart Grid Sensors Market Segment is covered By Type, By End User, By Distribution Channel.
The North America is anticipated to have the highest market share in the Smart Grid Sensors Market.
The key players in the market include Companies Covered s&c electric company, Itron, Inc., Aclara Technologies LLC, Trilliant, Echelon Corporation, ABB, ge grid solutions, Landis+Gyr, Siemens, Sentient Energy, Inc.
These sensors are capable of measuring a variety of factors, including current, temperature, voltage, and power usage. These sensors' data can be utilized to improve the efficiency, reliability, and security of the electric power system.
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