The report is titled ‘Smart Grids Sensors Market: Opportunity Analysis and Future Assessment 2020-2028’. An overview of conceptual frameworks, analytical approaches of the smart grids sensors market is the main objective of the report, which further consists of the market opportunity and insights of the data involved in the making of the respective market. Smart grids sensors market is expected to grow at a significant rate in the near future.
The global smart grids sensors market in 2020 is estimated for more than US$ 33.3 Bn and expected to reach a value of US$ 152.0 Bn by 2028 with a significant CAGR of 21.0%.
Smart Grids Sensors Market Definition
A lightweight, small node that functions as a detection station within a sensor network can be referred to as a smart grid sensor. This advanced sensor also permits remote monitoring of equipment like power lines and transformers along coupled with the fulfillment of the demand-side management of the resources on an energy smart grid. These technologically advanced sensors are also employed to monitor changing weather conditions along with the temperature of the power line that can further be utilized during the calculation of the carrying capacity of the line. A smart grid sensor usually has four parts, namely, a microcomputer, transducer, transceiver, and a power source.
Smart Grids Sensors Market Dynamics
Adoption of technologically advanced smart grid sensors, increasing R & D activities, and supporting government policies and funding on such smart projects is fueling the growth of the market. Moreover, the concern for extreme weather conditions and modifications in the methods and standards are also responsible for enhancing the potential of smart grid sensors.
However, the increasing adoption and applications of IoT along with the aging power grids and growing need for power generation also boost the growth of this market. Factors like grid instability, cyber-security, and privacy concerns may hinder the growth of the global smart grid sensor market.
The global smart grids sensors market is expected to increase at a significant CAGR over the forecast period owing to the modernization of aging grid infrastructure, launch, and adoption of upcoming smart city projects, and favorable government policies and funding. In addition, the growing need for renewable energy production sources, awareness about carbon footprint management, and ongoing research activities further aid the demand in this market.
Smart Grids Sensors Market Key Players
The global smart grids sensors market is mainly dominated by ABB Ltd., Aclara Technologies LLC, General Electric Company, GIPRO GmbH, Honeywell International Inc., Networked Energy Services Corporation, QinetiQ Group PLC, Sentient Energy, Inc., Siemens AG, Torino Power Solutions Inc., and Toshiba Corporation.
Smart Grids Sensors Market Segmentation
The global smart grids sensors market is segmented on the basis of sensors, application, and region.
On the basis of sensors, the global smart grids sensors market can be segmented into voltage/temperature sensors, outage detection sensors, transformer monitoring sensors, dynamic line rating sensors, and others. On the basis of application, the global smart grids sensors market can be segmented into smart Advanced Metering Infrastructure (AMI), energy meter, SCADA, and others.
Smart Grids Sensors Market Regional Segmentation
On the basis of region, the global smart grids sensors market is segmented into six regions namely North America, Latin America, Asia Pacific, Europe, Middle East, and Africa. North America smart grids sensors market is expected to be the most dominating market throughout the forecast period. Factors like focus on the development of electricity infrastructure, reduction of carbon emission, and adoption of renewable energy production are fuelling the growth of global smart grid sensor market.
MMC Overview on Smart Grids Sensors Market Report
The non-identical approach of Meridian Market Consultants stands with conceptual methods backed up with the data analysis. The novel market understanding approach makes up the standard of the assessment results that give better opportunity for the customers to put their effort.
A research report on the Smart Grids Sensors market by Meridian Market Consultants is an in-depth and extensive study of the market based on the necessary data crunching and statistical analysis. It provides a brief view of the dynamics flowing through the market, which includes the factors that supports market and the factors that are acting as impedance for the growth of the market.
Furthermore, the report includes the various trends and opportunities in the respective market in different regions for a better understanding of readers that helps to analyze the potential of the market.
Factors that are benchmarked while estimating the market
Various factors that are benchmarked while estimating the market growth include (but not restricted to):
• New product designs and launches
• Current product compliance
• Reimbursement
• Concerns for use of Smart Grids Sensors
• Advantages of Smart Grids Sensors
Actions taken by the manufacturer and respective regulatory authorities also impact the market growth of the segment. These factors are understood at a regional level and in major countries globally for providing regional insights of the product segment in the report. This helps our clients to make an informed decision.
A mix of top-down and bottom-up approach is followed to arrive and validate our market value estimations. For a product segment wherein one/two manufacturer(s) dominates the market, its product sales, previous growth rates, and market expansion plans are considered to generate market share in the global market.
1. Global Smart Grids Sensors Market Report Overview
1.1. Introduction
1.2. Report Description
1.3. Methodology
2. Global Smart Grids Sensors Market Overview
2.1. Introduction
2.1.1. Market Definition
2.1.2. Market Taxonomy
2.2. Executive Summary
2.3. Global Smart Grids Sensors Market Snapshot
2.4. Global Smart Grids Sensors Market Size and Forecast, 2020–2028
2.4.1. Introduction
2.4.2. Market Value Forecast and Annual Growth Rate (AGR) Comparison (2020–2028)
2.5. Global Smart Grids Sensors Market Dynamics
2.5.1. Drivers
2.5.2. Restraints
2.5.3. Opportunity
2.5.4. Trends
2.6. Key Regulations
2.7. Porter’s Five Forces Model
3. Global Smart Grids Sensors Market, By Sensors
3.1. Introduction
3.1.1. Annual Growth Rate Comparison, By Sensors
3.1.2. BPS Analysis, By Sensors
3.2. Market Revenue (US$Mn) Forecast, By Sensors
3.2.1. Voltage/Temperature Sensors
3.2.2. Outage Detection Sensors
3.2.3. Transformer Monitoring Sensors
3.2.4. Dynamic Line Rating Sensors
3.2.5. Others
3.3. Global Smart Grids Sensors Market Attractiveness Index, By Sensors
4. Global Smart Grids Sensors Market, By Application
4.1. Introduction
4.1.1. Annual Growth Rate Comparison, By Application
4.1.2. BPS Analysis, By Application
4.2. Market Revenue (US$Mn) Forecast, By Application
4.2.1. Smart Energy Meter
4.2.2. SCADA
4.2.3. Advanced Metering Infrastructure (AMI)
4.2.4. Others
4.3. Global Smart Grids Sensors Market Attractiveness Index, By Application
5. Global Smart Grids Sensors Market, By Region
5.1. Introduction
5.1.1. Annual Growth Rate Comparison, By Region
5.1.2. BPS Analysis, By Region
5.2. Market Revenue (US$Mn) Forecast, By Region
5.2.1. North America
5.2.2. Latin America
5.2.3. Europe
5.2.4. Asia Pacific
5.2.5. Middle East
5.2.6. Africa
5.3. Global Smart Grids Sensors Market Attractiveness Index, By Region
6. North America Smart Grids Sensors Market Analysis and Forecast, 2020–2028
6.1. Introduction
6.1.1. Annual Growth Rate Comparison, By Country
6.1.2. BPS Analysis, By Country
6.2. Market Revenue (US$Mn) Forecast, By Country
6.2.1. U.S. Smart Grids Sensors Market
6.2.2. Canada Smart Grids Sensors Market
6.3. North America Smart Grids Sensors Market, By Sensors
6.3.1. Voltage/Temperature Sensors
6.3.2. Outage Detection Sensors
6.3.3. Transformer Monitoring Sensors
6.3.4. Dynamic Line Rating Sensors
6.3.5. Others
6.4. North America Smart Grids Sensors Market, By Application
6.4.1. Smart Energy Meter
6.4.2. SCADA
6.4.3. Advanced Metering Infrastructure (AMI)
6.4.4. Others
6.5. North America Smart Grids Sensors Market Attractiveness Index
6.5.1. By Country
6.5.2. By Sensors
6.5.3. By Application
7. Latin America Smart Grids Sensors Market Analysis and Forecast, 2020–2028
7.1. Introduction
7.1.1. Annual Growth Rate Comparison, By Country
7.1.2. BPS Analysis, By Country
7.2. Market (US$Mn) Forecast, By Country
7.2.1. Brazil Smart Grids Sensors Market
7.2.2. Mexico Smart Grids Sensors Market
7.2.3. Argentina Smart Grids Sensors Market
7.2.4. Rest Of Latin America Smart Grids Sensors Market
7.3. Latin America Smart Grids Sensors Market, By Sensors
7.3.1. Voltage/Temperature Sensors
7.3.2. Outage Detection Sensors
7.3.3. Transformer Monitoring Sensors
7.3.4. Dynamic Line Rating Sensors
7.3.5. Others
7.4. Latin America Smart Grids Sensors Market, By Application
7.4.1. Smart Energy Meter
7.4.2. SCADA
7.4.3. Advanced Metering Infrastructure (AMI)
7.4.4. Others
7.5. Latin America Smart Grids Sensors Market Attractiveness Index
7.5.1. By Country
7.5.2. By Sensors
7.5.3. By Application
8. Europe Smart Grids Sensors Market Analysis and Forecast, 2020–2028
8.1. Introduction
8.1.1. Annual Growth Rate Comparison, By Country
8.1.2. BPS Analysis, By Country
8.2. Market (US$Mn) Forecast, By Country
8.2.1. U.K. Smart Grids Sensors Market
8.2.2. Germany Smart Grids Sensors Market
8.2.3. Italy Smart Grids Sensors Market
8.2.4. France Smart Grids Sensors Market
8.2.5. Spain Smart Grids Sensors Market
8.2.6. Russia Smart Grids Sensors Market
8.2.7. Poland Smart Grids Sensors Market
8.2.8. BENELUX Smart Grids Sensors Market
8.2.9. NORDIC Smart Grids Sensors Market
8.2.10. Rest Of Europe Smart Grids Sensors Market
8.3. Europe Smart Grids Sensors Market, By Sensors
8.3.1. Voltage/Temperature Sensors
8.3.2. Outage Detection Sensors
8.3.3. Transformer Monitoring Sensors
8.3.4. Dynamic Line Rating Sensors
8.3.5. Others
8.4. Europe Smart Grids Sensors Market, By Application
8.4.1. Smart Energy Meter
8.4.2. SCADA
8.4.3. Advanced Metering Infrastructure (AMI)
8.4.4. Others
8.5. Europe Smart Grids Sensors Market Attractiveness Index
8.5.1. By Country
8.5.2. By Sensors
8.5.3. By Application
9. Asia Pacific Smart Grids Sensors Market Analysis and Forecast, 2020–2028
9.1. Introduction
9.1.1. Annual Growth Rate Comparison, By Country
9.1.2. BPS Analysis, By Country
9.2. Market (US$Mn) Forecast, By Country
9.2.1. China Smart Grids Sensors Market
9.2.2. India Smart Grids Sensors Market
9.2.3. Japan Smart Grids Sensors Market
9.2.4. Australia And New Zealand Smart Grids Sensors Market
9.2.5. South Korea Smart Grids Sensors Market
9.2.6. ASEAN Smart Grids Sensors Market
9.2.7. Rest Of Asia Pacific Smart Grids Sensors Market
9.3. Asia Pacific Smart Grids Sensors Market, By Sensors
9.3.1. Voltage/Temperature Sensors
9.3.2. Outage Detection Sensors
9.3.3. Transformer Monitoring Sensors
9.3.4. Dynamic Line Rating Sensors
9.3.5. Others
9.4. Asia Pacific Smart Grids Sensors Market, By Application
9.4.1. Smart Energy Meter
9.4.2. SCADA
9.4.3. Advanced Metering Infrastructure (AMI)
9.4.4. Others
9.5. Asia Pacific Smart Grids Sensors Market Attractiveness Index
9.5.1. By Country
9.5.2. By Sensors
9.5.3. By Application
10. Middle East Smart Grids Sensors Market, By Region
10.1. Introduction
10.1.1. Annual Growth Rate Comparison, By Country
10.1.2. BPS Analysis, By Country
10.2. Market (US$Mn) Forecast, By Country
10.2.1. GCC Countries Smart Grids Sensors Market
10.2.2. Israel Smart Grids Sensors Market
10.2.3. Oman Smart Grids Sensors Market
10.2.4. Rest Of Middle East Smart Grids Sensors Market
10.3. Middle East Smart Grids Sensors Market, By Sensors
10.3.1. Voltage/Temperature Sensors
10.3.2. Outage Detection Sensors
10.3.3. Transformer Monitoring Sensors
10.3.4. Dynamic Line Rating Sensors
10.3.5. Others
10.4. Middle East Smart Grids Sensors Market, By Application
10.4.1. Smart Energy Meter
10.4.2. SCADA
10.4.3. Advanced Metering Infrastructure (AMI)
10.4.4. Others
10.5. Middle East Smart Grids Sensors Market Attractiveness Index
10.5.1. By Country
10.5.2. By Sensors
10.5.3. By Application
11. Africa Smart Grids Sensors Market, By Region
11.1. Introduction
11.1.1. Annual Growth Rate Comparison, By Country
11.1.2. BPS Analysis, By Country
11.2. Market (US$Mn) Forecast, By Country
11.2.1. South Africa Smart Grids Sensors Market
11.2.2. Egypt Smart Grids Sensors Market
11.2.3. North Africa Smart Grids Sensors Market
11.2.4. Rest Of Africa Smart Grids Sensors Market
11.3. Africa Smart Grids Sensors Market, By Sensors
11.3.1. Voltage/Temperature Sensors
11.3.2. Outage Detection Sensors
11.3.3. Transformer Monitoring Sensors
11.3.4. Dynamic Line Rating Sensors
11.3.5. Others
11.4. Africa Smart Grids Sensors Market, By Application
11.4.1. Smart Energy Meter
11.4.2. SCADA
11.4.3. Advanced Metering Infrastructure (AMI)
11.4.4. Others
11.5. Africa Smart Grids Sensors Market Attractiveness Index
11.5.1. By Country
11.5.2. By Sensors
11.5.3. By Application
12. Recommendation
12.1. Market Strategy
13. Competitive Landscape
13.1. Competition Dashboard
13.2. List and Company Overview of Global Key Players
13.3. Company Profiles
13.3.1. ABB Ltd.
13.3.1.1. Company Overview
13.3.1.2. Financial Overview
13.3.1.3. Product Portfolio
13.3.1.4. Key Developments
13.3.1.5. Business Strategies
13.3.2. Aclara Technologies LLC
13.3.3. General Electric Company
13.3.4. GIPRO GmbH
13.3.5. Honeywell International Inc.
13.3.6. Networked Energy Services Corporation
13.3.7. QinetiQ Group PLC
13.3.8. Sentient Energy, Inc.
13.3.9. Siemens AG
13.3.10. Torino Power Solutions Inc.
13.3.11. Toshiba Corporation
14. Acronyms
Frequently Asked Questions
What is the projected market size & Compound Annual Growth Rate (CAGR) of the market?
The global smart grids sensors market in 2020 is estimated for more than US$ 33.3 Bn and expected to reach a value of US$ 152.0 Bn by 2028 with a significant CAGR of 21.0%.
What are the key factors driving the growth of market?
Adoption of technologically advanced smart grid sensors, increasing R & D activities, and supporting government policies and funding on such smart projects is fueling the growth of the market.
What segments are covered in market report?
The global smart grids sensors market is segmented on the basis of sensors, application, and region.
What are the key participating players in the market?
ABB Ltd., Aclara Technologies LLC, General Electric Company, GIPRO GmbH, Honeywell International Inc., Networked Energy Services Corporation, QinetiQ Group PLC, Sentient Energy, Inc., Siemens AG, Torino Power Solutions Inc., and Toshiba Corporation are the key participating players in the market
