Smart Grid Sensors Market Size to Grow by $ 122.47 mn through 2020-2024  

Technavio research projects the smart grid sensors market to grow by $ 122.47 mn, accelerating at a CAGR of almost 10% till 2025. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking


Smart Grid Sensors Market: Receive FREE Sample Report


Smart Grid Sensors Market: Key Market Driver

One of the primary factors that will trigger the growth of the smart grid sensors market size is transition to smart grids. This research report provides a comprehensive analysis of all the factors that are likely to propel market growth, taking into account the market trends as well as challenges that are likely to impede growth. The objective of this research report is to equip clients with actionable insights that will help them leverage opportunities and formulate growth strategies for their business.

Smart Grid Sensors Market to Post a CAGR 10% During 2020-2024 | Transition to Smart Grids is One of the Key Factors for this Growth | Technavio

Smart Grid Sensors Market: Vendor Analysis

The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. ABB Ltd., Arteche Group, Eaton Corporation Plc, General Electric Co., Honeywell International Inc., Hubbell Inc., International Business Machines Corp., Itron Inc., Mitsubishi Electric Corp., and Xylem Inc. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

Technavio also offers custom research reports with detailed insights assessing the market from a global as well as regional perspective. This customized report will help clients keep up with new product launches in direct & indirect or related markets. It will also provide insights on upcoming developments along with a pipeline analysis of vendor operations and the impact of government regulations.

For more insights on this market: Download a Free Sample Report

Smart Grid Sensors Market Size to Grow by $ 122.47 mn During 2020-2024

Technavio has been monitoring the smart grid sensors market and it is expected to grow by $ 122.47 mn, accelerating at a CAGR of almost 10% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking


Smart Grid Sensors Market: Receive Free Sample Report


Smart Grid Sensors Market: North America to lead market growth during the forecast period

  • 32% of the market growth will originate from North America during the forecast period.
  • Increasing need for asset optimization will be a key trend that will influence market growth significantly.
  • The Transition to smart grids will be a significant factor in driving the growth of the smart grid sensors market.

Smart Grid Sensors Market to Post a CAGR 10% During 2020-2024 | Transition to Smart Grids is One of the Key Factors for this Growth | Technavio

Smart Grid Sensors Market: Key Competitors

The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. ABB Ltd., Arteche Group, Eaton Corporation Plc, General Electric Co., Honeywell International Inc., Hubbell Inc., International Business Machines Corp., Itron Inc., Mitsubishi Electric Corp., and Xylem Inc. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

For more insights on this market: Download a Free Sample Report

Smart Grid Sensors Market: Key Highlights of the Report for 2020-2024

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive smart grid sensors market growth during the next five years
  • Precise estimation of the smart grid sensors market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the smart grid sensors market industry across North America, Europe, APAC, MEA, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of smart grid sensors market vendors

Smart Grid Sensors Market Size to Grow by $ 122.47 mn through 2020-2024  

Technavio research projects the smart grid sensors market to grow by $ 122.47 mn, accelerating at a CAGR of almost 10% till 2025. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking


Smart Grid Sensors Market: Receive FREE Sample Report


Smart Grid Sensors Market: Key Market Driver

One of the primary factors that will trigger the growth of the smart grid sensors market size is transition to smart grids. This research report provides a comprehensive analysis of all the factors that are likely to propel market growth, taking into account the market trends as well as challenges that are likely to impede growth. The objective of this research report is to equip clients with actionable insights that will help them leverage opportunities and formulate growth strategies for their business.

Smart Grid Sensors Market to Post a CAGR 10% During 2020-2024 | Transition to Smart Grids is One of the Key Factors for this Growth | Technavio

Smart Grid Sensors Market: Vendor Analysis

The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. ABB Ltd., Arteche Group, Eaton Corporation Plc, General Electric Co., Honeywell International Inc., Hubbell Inc., International Business Machines Corp., Itron Inc., Mitsubishi Electric Corp., and Xylem Inc. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

Technavio also offers custom research reports with detailed insights assessing the market from a global as well as regional perspective. This customized report will help clients keep up with new product launches in direct & indirect or related markets. It will also provide insights on upcoming developments along with a pipeline analysis of vendor operations and the impact of government regulations.

For more insights on this market: Download a Free Sample Report

Smart Grid Sensors Market Growth Analysis | Trends, Drivers and Vendor Forecasts for 2020-2024

Technavio has been monitoring the smart grid sensors market and it is expected to grow by $ 122.47 mn, accelerating at a CAGR of almost 10% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking View Free Sample Report

Smart Grid Sensors Market: Key Trends to impact market growth

The increasing need for asset optimization is one of the key smart grid sensors market market trends. This research report provides a detailed impact analysis of all the trends that are likely to influence the growth of the market in focus.

Smart Grid Sensors Market: Top Drivers to Boost Demand

The transition to smart grids is one of the primary factors driving the growth of the smart grid sensors market. The report provides a detailed study of all the factors that are likely to boost the market. This analysis will enable clients to leverage growth opportunities to their advantage and set their business

Smart Grid Sensors Market to Post a CAGR 10% During 2020-2024 | Transition to Smart Grids is One of the Key Factors for this Growth | Technavio

Vendor Analysis: ABB Ltd., Arteche Group and Eaton Corporation Plc are key growth contributors

The market is fragmented. The research report provides insights into the top market player and their product portfolio along with a pipeline analysis of upcoming developments and growth opportunities. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. ABB Ltd., Arteche Group, Eaton Corporation Plc, General Electric Co., Honeywell International Inc., Hubbell Inc., International Business Machines Corp., Itron Inc., Mitsubishi Electric Corp., and Xylem Inc. are some of the major market participants.

For more insights on this market: Download a Free Sample Report

Smart Grid Sensors Market: Key Highlights of the Report for 2020-2024

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive smart grid sensors market growth during the next five years
  • Precise estimation of the smart grid sensors market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the smart grid sensors market industry across North America, Europe, APAC, MEA, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of smart grid sensors market vendors

The Global Smart Grid Sensors Market is expected to grow by USD 122.47 million accelerate at a CAGR of almost 10% during the forecast period. Techanvio’s research report traces the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact the market in focus. Download our free sample report with COVID-19 analysis 

Smart Grid Sensors Market to Post a CAGR 10% During 2020-2024 | Transition to Smart Grids is One of the Key Factors for this Growth | Technavio

Smart Grid Sensors Market: Segmentation by Technology

During 2019, the hardware segment dominated the Global Smart Grid Sensors Market in 2019. Smart grid sensors are being installed on power lines to monitor the grid operations with programmed system alerts and threshold limits. These devices are highly reliable and are powered continuously by the power line, small solar cells, or primary batteries. Thus, smart grid sensors are gaining continuous attention and are being widely deployed on T&D lines. The high percentage share of this segment is attributed to the high cost of these devices making these devices sturdier than the ordinary versions adds to the cost. Thus, the growth of the IoT in the power industry is expected to drive the growth of the global smart grid sensors market in the hardware segment during the forecast period.

Another benefit that is making smart grid sensors popular is that they are firmware upgradeable, which allows the addition of newr features and the enhancement of the software's analytical capabilities, thus providing greater value in terms of investment.

Smart Grid Sensors Market: Vendor Analysis

The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. ABB Ltd., Arteche Group, Eaton Corporation Plc, General Electric Co., Honeywell International Inc., Hubbell Inc., International Business Machines Corp., Itron Inc., Mitsubishi Electric Corp., and Xylem Inc. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

Technavio forecasts three scenarios (optimistic, probable, and pessimistic) to evaluate the impact of COVID-19 Download a Free Sample Report. This customized report will help clients keep up with new product launches in direct & indirect COVID-19 related markets. It will also provide insights on upcoming developments along with pipeline analysis of vendor operations and the impact of government regulations.

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