Numerous Factors to Boost Market Growth
A variety of factors influence market demand in the global
market. Increasing energy transmission efficiency for checking the temperature
of power lines promotes market demand in this region throughout the anticipated
period. Another factor driving market demand in the global market during the
review period is the increasing implementation of smart sensory technology in
various rising countries such as China and India. This strategy is useful in
information and communication technologies, and market demand is driven by the
distribution field.
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 global Smart-Grid
Sensor Market Growth 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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