Then conventional power grid system is being modernized into smart grid to resolve the concerns such as power dissipation, concentrated information flow and growing concerns about security and consistency. Smart grid sensor offers various advantages such as it can be operated in extremely harsh weather conditions, and able to facilitate the efficient power distribution and transmission network. However, the rising number of electrical thefts in commercial and residential areas, the energy fault system, and operational ability of extreme weather conditions are expected to drive the market over the forecast period. Additionally, integration of smart grids with the Internet of things (IoT) is expected to be a better prospect over the forecast period 2017-2023. However, the high energy consumption of smart grids is presumed to hinder the growth of the market over the forecast period.
The smart grid sensors are segmented by sensors, component, service, solutions, and application.
Based on the sensors, the smart grid sensors market is sub-divided into voltage/temperature sensors, outage detection sensors, transformer monitoring sensors, dynamic line rating sensors, and others. The component segment comprised of AMI meter, sensors, networking hardware, the programmable logic controller (PLC), and others. Furthermore, the service is categorized into consulting, deployment &integration, support & maintenance, and others.
Smart grid sensors are further segregated on the basis of solutions that include Advance Metering Infrastructure (AMI), smart grid distribution management, smart grid communication, grid asset management, substation automation, and billing &customer information system.
On the basis of the application segment, the smart grid sensors is comprised of smart energy meter, supervisory control and data acquisition (SCADA), Advanced Metering Infrastructure (AMI), and others.
According to Market Research Future analysis, smart grid sensor market has been valued at approximately USD 4 billion growing at a CAGR of 18% during the forecast period 2017-2023.
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Market research future identifies some of the key players of smart grid sensor market are 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. (the U.S), Fujitsu Ltd. (Tokyo), Infrax Systems Inc. (U.S.), e-Smart Systems Pvt. Ltd. (India), and Grid4C (U.S.)
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Table of Content:
4 Market Landscape
4.1 Porter’s Five Forces Analysis
4.1.1 Threat Of New Entrants
4.1.2 Bargaining Power Of Buyers
4.1.3 Threat Of Substitutes
4.1.4 Segment Rivalry
4.2 Value Chain/Supply Chain Of Global Smart Grid Sensor Market
5 Industry Overview Of Global Smart Grid Sensor Market
5.2 Growth Drivers
5.3 Impact Analysis
5.4 Market Challenges
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