Market Synopsis

According to MRFR, the global Smart Grid Sensors Market is expected to secure approximately USD 1556.71 million, at a CAGR of 18.3% over the forecast period 2020-2030.

Market Scenario

The conventional power grid system is being modernized into a smart grid to address issues such as power dissipation, concentrated information flow and growing safety and consistency concerns. The introduction of technologies such as supervisory control and data acquisition (SCADA) and smart grid network management has modernized the current power grid infrastructure to make performance, adaptability and reliability more sophisticated. The smart grid sensor is expected to show significant growth over the forecast period, in the lines of these factors. In addition , the increasing number of electrical thefts in commercial and residential areas, and the system of energy faults, And extreme weather conditions operational capacity is expected to drive the market over the forecast period.

Key Players

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).

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The Global Market to Recover Post COVID-19 Pandemic

The global pandemic of COVID 19 has impacted a large portion of the world's population. Many people have lost their jobs as a result of the global pandemic. It has had an impact on the dynamics and growth of a number of sectors. Everyone is worried about their immunity and maintains a social distancing. During the lockdown, numerous end-user industries' operational activities were interrupted, resulting in a fall in demand for the smart grid sensors market, which resulted in lost sales revenue. The supply chain networks were also disrupted, resulting in a decrease in profit margins.

However, by carefully strategizing according to market needs, the smart grid sensors market is predicted to recover from this global pandemic by the end of the third quarter of the approaching year.

Market Segmentation

The Smart Grid Sensors Market has been divided based on the sensors, service, application, components, and solutions.

Based on the sensors, the global smart grid sensors market has been divided into dynamic line rating sensors, transformer monitoring sensors, outage detection sensors, voltage/temperature sensors, and many others.

Based on the services, the global smart grid sensors market has been divided into support & maintenance services, deployment & integration services, consulting services, and many others.

Based on the application, the global smart grid sensors market has been divided into Advanced Metering Infrastructure (AMI), smart energy meter, supervisory control and data acquisition (SCADA), and many others.

Based on the components, the global smart grid sensors market has been divided into programmable logic controller (PLC), networking hardware, sensors, AMI meter, and others.

Based on the solutions, the global smart grid sensors market has been divided 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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Regional Analysis

North America to Rule the Global Market

The North America holds the highest market share in the global smart grid sensors market, owing to an increase in grid solution makers, which helps to improve consistency and hence drives the market. Another factor is the existence of countries such as Canada and the United States.

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