Smart Grid Sensors Market by Sensor (Voltage, Outage, and Transforming Monitoring), Application (Smart Energy Meter, Advanced Metering Infrastructure, Smart Grid Distribution Network, Data Collection, and Control), and End User (Consulting, Deployment & Integration, Support & maintenance, and Dynamic Line Rating): Global Opportunity Analysis and Industry Forecast, 2019–2026
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May 2020 |
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Smart Grid Sensors Market Outlook-2026
Smart grid is kind of an electric grid which works in sensor network as digital communicator of energy. It is an innovative network over old conventional electric grid in the service of transmitting power and contains more advanced and automated systems of control, sensors, techniques, and software which are economical by nature, reliable in power transmission, and lessen power. It works very effectively and efficiently like checking weather condition, temperature of powerlines, more than it is indirectly used in houses and commercial areas provide electricity from power plants to such areas.
Smart grid sensors help in conserving energy, reduce costs, flexible, transparent in process, easy adaptable, and efficient in system. The main advantage of smart grid sensors is that they can detect changes automatically of energy in terms of demand and supply. Control in production and distribution of power and automated monitor on conditioning of electric power are the main components of a smart grid. Sensors used in smart grid are very small in sizes, light weighted, and thin and gives control to remote which are used in monitoring equipment demand energy like transformers and power lines.
Electric grid has been improved by smart grid sensors which supply power electricity in one direction and systematically. Electric grid has no intelligence factor like control and distribution. Smart grid has that sensor which acts smartly and allows the flow of electricity in one direction.
Factors such as rise in technological advancements in sensors technology such as integration of IoT and AI and increase in usage of sensors in industrial applications act as a major driver for driving the growth of the market globally. However, high initial installation and maintenance cost hamper the growth of the smart grid sensor market to a certain extent. Furthermore, increase in adoption of smart technologies and rise in development of smart cities provide lucrative opportunities for the smart grid sensor market growth.
The smart grid sensors market is segmented into sensor, application, end user, and region. Based on sensor, market is classified in to voltage smart grid sensors, outage detection smart grid sensor and transforming monitoring smart grid sensor. Based on applications, market is classified in to smart energy meter, advanced metering infrastructure, smart grid distribution network, data collection and control. Based on end user market is classified in to consulting, support & maintenance, and dynamic line rating. Based on region market is classified in to North America, Asia Pacific, Europe and Lamea.
Key players of smart grid sensor industry are ABB Ltd., General electric company, Cisco systems, Siemen AG, Tech Mahindra Ltd., Esyasoft technologies Pvt, ltd., NexGrid LLC, Globema, Schneider Electric SA, S&C electric company and Wipro Ltd.
KEY BENEFITS FOR STAKEHOLDERS
- This study includes the analytical depiction of the global smart grid sensor along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information regarding the key drivers, restraints, and opportunities.
- The current smart grid sensors market is quantitatively analyzed from 2019 to 2026 to highlight the financial competency of the industry.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.
GLOBAL SMART GRID SENSOR SEGMAENTATION
BY SENSOR
- Voltage
- Outage
- Transforming Monitoring
BY APPLICATION
- Smart Energy Meter
- Advanced Metering Infrastructure
- Smart Grid Distribution Network
- Data Collection and Control
BY END USER
- Consulting
- Deployment and Integration
- Support and Maintenance
- Dynamic Line Rating
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