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Global Smart Grid Sensors Market Size, Industry Share, Growth & Forecast To 2023

10-09-2019 11:29 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Orion Market Research

Global Smart Grid Sensors Market Size

Global Smart Grid Sensors Market Size

The smart grid sensor market is anticipated to showcase significant growth during the forecast period. The policies and incentives at the federal, state and local levels are favoring the adoption of renewable energy generation at the bulk and distribution system levels, thereby driving the growth of the smart grid sensors market. State and federal renewable energy tax credits offer residential, commercial, and industrial customers attractive capital incentives to develop renewable energy projects. The federal Business Energy Investment Tax Credit(ITC) provides a 30% tax credit for solar, fuel cell, and some wind installations.

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The Renewable Electricity Production Tax Credit(PTC) offers a 10-year, per-kWh credit for wind and other renewable systems; the PTC expires December 31, 2019, for wind technologies, and expired in 2017 for all other technologies. Net energy metering (NEM) rules define how customers are credited for the electricity they generate and may require utilities to buy any excess electricity customers add back to the grid. In severalstates, these credits helped to tip the economic scale in favor of onsite solar, particularly as customer installation costs fell quickly over the last five years. However, several states have revised, eliminated, or are reviewing their NEM rules as DER adoption rises to avoid cross-subsidization.

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In 2017, 38 states plus DC enforce mandatory NEM rules, down from 43 states plus DC in 2010. More than 1.4 million US customers participate in net energy metering-an almost five-fold increase from 2010—with installations is totaling more than 13.5 MW in generating capacity nationwide. Communities and cities are increasingly seeking energy options to address economic development and environmental and resiliency objectives. In certain states, individuals can form a non-profit group, known as a Community Choice Aggregator, to secure renewable electricity contracts on behalf of a community. Legislated in seven states, community choice aggregation (CCA) is a powerful tool to drive the growth of the smart grid and thereby driving the growth of the global smart grid sensors market.

Current market trends covered in the market report

The rapid adoption of renewable sources of energy.
Increased use of digital information and controls technology to improve reliability, security, and efficiency of the electric grid.
Identification and lowering of unreasonable or unnecessary barriers to the adoption of smart grid technologies, practices, and services.
Deployment of “smart” technologies for metering, communications concerning grid operations and status, and distribution automation.

Global Smart Grid Sensor Market Segmentation

By Type

Wireless Sensors Networks For Automated Meter Infrastructure (AMI)
Outage Management System
Supervisory Control And Data Acquisition (SCADA)
Smart Voltage Sensors
Smart Capacitor Sensors
Smarty Sensors for Outage Detection
Transformer Monitoring Sensors
Distribution Generation Sensors for Load Balancing
Voltage Sensing

By Application

Government Organization

Global Smart Grid Sensors Market – Segment by Region

North America



United Kingdom
Rest of Europe


Rest of Asia-Pacific

Rest of the World

Latin America
Middle-East Africa

Company Name: Orion Market Reports

Contact Person: Mr. AnuragTiwari


Contact no: +1 646-755-7667, +91 780-304-0404

Orion Market Research (OMR) is an Indian market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.

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