Technavio Estimates Global Smart Grid Sensors Market Growth to Accelerate at 10% CAGR During 2020-2024 | Transition to Smart Grids to Drive Market
The smart grid sensors market is expected to grow by USD 122.47 million, progressing at a CAGR of almost 10% during the forecast period.
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Technavio has announced its latest market research report titled Smart Grid Sensors Market by Technology and Geography - Forecast and Analysis 2020-2024 (Graphic: Business Wire).
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The transition to smart grids is expected to drive market growth. However, factors such as concerns over cybersecurity will challenge growth.
More details: https://www.technavio.com/report/smart-grid-sensors-market-industry-analysis
Smart Grid Sensors Market: Technology Landscape
Based on technology, the hardware components segment generated maximum revenue for the market in 2019. The growth of this segment can be attributed to the rising adoption of IoT in the power industry. The market growth in the segment will be significant over the forecast period.
Smart Grid Sensors Market: Geographic Landscape
By geography, North America is going to witness lucrative growth during the forecast period. About 32% of the market’s overall growth is expected to originate from North America. The wide-scale smart grid adoption in the US and Canada is crucial in driving the growth of the market in North America. The US is the key market for smart grid sensors in North America.
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Companies Covered:
- ABB Ltd.
- Arteche Group
- Eaton Corporation Plc
- General Electric Co.
- Honeywell International Inc.
- Hubbell Inc.
- International Business Machines Corp.
- Itron Inc.
- Mitsubishi Electric Corp.
- Xylem Inc.
What our reports offer:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers market data for 2019, 2020, until 2024
- Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Key Topics Covered:
Executive Summary
- Market Overview
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five forces analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Technology
- Market segments
- Comparison by Technology
- Hardware components - Market size and forecast 2019-2024
- Software systems - Market size and forecast 2019-2024
- Market opportunity by Technology
Customer landscape
- Overview
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Competitive scenario
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- ABB Ltd.
- Arteche Group
- Eaton Corporation Plc
- General Electric Co.
- Honeywell International Inc.
- Hubbell Inc.
- International Business Machines Corp.
- Itron Inc.
- Mitsubishi Electric Corp.
- Xylem Inc.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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