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Market Scenario:The smart grid sensor is, typically, an advanced technology in the field of power transmission that consists of sensors, automated control techniques, and sophisticated software solutions. This advanced sensors uses the real time data to enhance the reliability of power transmission and minimize the power dissipation which eventually reduce the cost. These smart grid sensor acts a super resistant solution for the distribution network, which serves as time and cost savers, which caused due to service and regular power failures in different industries. The smart grid sensor are very effective in checking weather conditions and temperature of power lines while transmitting the energy. These smart sensors are very efficient and reliable to be used in commercial and residential areas to increase the energy efficiency. At present, the smart grid sensors are at burgeoning stage in the emerging economies such as India, China, and few parts of Asia Pacific region.
The smart grid sensor has become a revolutionary technique in the distribution field as well as in the information and communication technology. The integration of software such as supervisory control and data acquisition (SCADA) and smart grid distribution management has modernized the existing power grid system to become more sophisticated in terms of efficiency, adaptability and reliability. In the lines of these factors, the smart grid sensor are expected to show a significant growth over the forecast period.
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On the other hand, security concerns and increase energy utility counterfeit are presumed to hinder growth of the smart grid sensor market over the review period 2017-2023
The global smart grid sensors market is expected to reach approximately USD 4 billion by 2023 at a CAGR of 18 % over the forecast period 2017-2023.
Key Players
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)
Industry Updates:
In April 2019, New York announced a provision of USD 30 million for their electric grids. This amount aims at improving resiliency, flexibility, and integration of renewable energy. Along with these, innovations regarding smart grid sensors would be integrated for a better functioning process. Advanced sensor applications would be integrated as well in the process.
Segmental Analysis
The market for smart grid sensors is segmented on the basis of component, sensors, solutions, service, and application. On the basis of sensors, the market is segmented into outage detection sensors, voltage/temperature sensors, dynamic line rating sensors, transformer monitoring sensors, and others. The component segment of the market comprises of sensors, AMI meter, programmable logic controller (PLC), networking hardware, and others. The service segment is classified into deployment &integration, consulting, support & maintenance and others. On the basis of solutions, the market is segmented into smart grid distribution management, Advance Metering Infrastructure (AMI), grid asset management, substation automation, smart grid communication, and billing &customer information system. By application, the market segmentation consists of supervisory control and data acquisition (SCADA), smart energy meter, Advanced Metering Infrastructure (AMI), and others
Detailed Regional Analysis
The North American region is deduced to be the principal region in smart grid sensors market. The swelling number of smart grid solutions providers in the region will enhance the grid’s consistency. The European region is projected to have considerable growth over the forecast period. The nations such as France, Germany, and the U.K are the foremost countries in the region. This is accredited to the massive investments in research and development for offering innovative techniques to enhance the dissipation loss while transmitting the power to the general community. The Asia Pacific region is foreseen to be the fastest rising region in the market over the forecast period. India and China are the principal countries in the region to be a better potential region due to growing demand for the smart grid solutions.
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Target Audience:
• 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
• Utilities
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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
Contact Info:
Name: Abhishek Sawant
Email: Send Email
Organization: Market Research Future
Website: https://www.marketresearchfuture.com
Release ID: 512452
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