Aug 8, 2023   SOURCE: BusinessWire

Technological Innovations and Government Initiatives Boost Smart Grid Sensor Adoption 2023-2030 - ResearchAndMarkets.com

The "Global Smart Grid Sensor Market by Type, Component, Solution, Application - Cumulative Impact of COVID-19, Russia Ukraine Conflict, and High Inflation - Forecast 2023-2030" report has been added to ResearchAndMarkets.com's offering.

The Global Smart Grid Sensor Market size was estimated at USD 12.66 billion in 2022, USD 14.27 billion in 2023, and is projected to grow at a Compound Annual Growth Rate (CAGR) of 12.80% to reach USD 33.21 billion by 2030.

The Cumulative Impact of COVID-19, the Russia-Ukraine Conflict, and High Inflation is expected to have significant long-term effects on the Global Smart Grid Sensor Market.

The ongoing research considers the changes in consumer behavior, supply chain disruptions, and government interventions caused by the pandemic. Similarly, the report considers the ongoing political and economic uncertainty in Eastern Europe caused by the Russia-Ukraine Conflict and its potential implications for demand-supply balances, pressure on pricing variants, and import/export and trading.

Additionally, the report addresses the impact of High Inflation on the global economy and details fiscal policies measuring and reducing its effects on demand, supply, cash flow, and currency exchange.

Market Segmentation & Coverage:

This research report categorizes the Global Smart Grid Sensor Market in order to forecast the revenues and analyze trends in each of following sub-markets:

  • Based on Type, the market is studied across Distributed Generation Sensors, High Voltage Line Temperature & Weather Condition Sensors, Smart Capacitor Control, Smart Sensors for Outage Detection, Smart Sensors for Transformer Monitoring, and Smart Voltage Sensors. The High Voltage Line Temperature & Weather Condition Sensors is projected to witness significant market share during forecast period.
  • Based on Component, the market is studied across Microcomputer, Power Source, Transceiver, and Transducer. The Transducer is projected to witness significant market share during forecast period.
  • Based on Solution, the market is studied across Advance Metering Infrastructure (AMI), Billing &Customer Information System, Grid Asset Management, Smart Grid Communication, Smart Grid Distribution Management, and Substation Automation. The Grid Asset Management is projected to witness significant market share during forecast period.
  • Based on Application, the market is studied across Commercial, Industrial, and Residential. The Residential is projected to witness significant market share during forecast period.
  • Based on Region, the market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States.

Market Statistics:

The report provides market sizing and forecasts across 7 major currencies - USD, EUR, JPY, GBP, AUD, CAD, and CHF; multiple currency support helps organization leaders to make well-informed decisions. In this report, 2018 to 2021 are considered as historical years, 2022 is base year, 2023 is estimated year, and years from 2024 to 2030 are considered as forecast period.

FPNV Positioning Matrix:

The FPNV Positioning Matrix is essential for assessing the Global Smart Grid Sensor Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).

Market Share Analysis:

The Market Share Analysis offers an insightful look at the current state of vendors in a particular market space. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.

Market Dynamics

Drivers

  • Technological innovations in measurement science and standards for smart grid technology
  • Rise in awareness about smart grid sensor measures among all end-user industries
  • Growing transition towards smart grids and Increasing implementation of smart metering systems
  • Rise in the acceptance of workplace safety standards in emerging countries

Restraints

  • High initial installation and maintenance cost

Opportunities

  • Rapid industrialization and execution of smart grid sensor measures by numerous governments
  • Rise in the development of smart cities

Challenges

  • Accurate data sensing in harsh environment
  • Large data acquisition, energy counterfeit, and data security

Companies Mentioned

  • ABB Ltd.
  • Aclara Technologies LLC
  • Arteche Group
  • Eaton Corporation
  • General Electric Company
  • Itron GmbH
  • Landis+Gyr Group AG
  • Metrycom Communication
  • Mitsubishi Electric Corporation
  • Oracle Corporation
  • Powel AS
  • QinetiQ Group plc
  • Schneider Electric S.E.
  • Sentient Technologies Holdings
  • Silver Springs Networks
  • Tantalus Systems Corp.

For more information about this report visit https://www.researchandmarkets.com/r/dhw47p

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