Smart Grid Sensors Market (COVID-19) to Witness Astonishing Growth by Forecast 2020-2027 | ABB Ltd, Aclara Technologies LLC, Eaton Corporation plc, Itron, Kamstrup, Sentient Energy, Siemens AG
Smart Grid Sensors Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Sensor Type (Voltage and Current Sensor, Temperature Sensor, and Others), Voltage Range (Low to Medium Voltage and High Voltage), and Application (Substation Automation, Advanced Metering Infrastructure, Smart Grid Distribution Network, and Others),” the market was valued at US$ 325.0 million in 2019 and is projected to reach US$ 1,221.6 million by 2027; it is expected to grow at a CAGR of 18.3% from 2020 to 2027.
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The COVID-19 outbreak is currently going the world over, the Smart Grid Sensors market report covers the impact of the corona-virus on top company’s growth. This research report categorizes as the key players in the Smart Grid Sensors market and also gives a comprehensive study of Covid-19 impact analysis of the market by regions like (Americas, Europe APAC, and EMEA).
The report offers key drivers that propel the growth in the global Smart Grid Sensors market. These insights help market players in devising strategies to gain market presence. The research also outlined the restraints of the market. Insights on opportunities are mentioned to assist market players in taking further steps by determining the potential in untapped regions.
The research report by The Insight Partners, titled, “Smart Grid Sensors Market”, offers a comprehensive analysis of key growth drivers, key segments, development strategies, market opportunities, and competitive landscape. This study offers detailed insights for market players, investors, stakeholders, and new entrants to understand the industry dynamics and determine strategic steps to gain a competitive advantage.
The constant technological advancements by tech giants empower North America to stay ahead in the competition. Companies operating in this region are continuously enhancing the overall business processes to meet customer demands for high-quality products and services in the best possible way. Increasing investments by the governments for the adoption of advanced metering infrastructure owing to the modernization of the electricity grid and reduce distribution as well as transmission losses is mounting the growth of the market in the region. As per the 2018 smart grid system report by the US Department of Energy, the annual smart grid investments rose by 41% from US$ 3.4 billion to US$ 4.8 billion between 2014 and 2016. These investments are anticipated to further grow up to US$ 13.8 billion in 2024.
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List of the Top Key Players of Smart Grid Sensors Market:
1. ABB Ltd
2. Aclara Technologies LLC
3. Eaton Corporation plc
4. Itron Inc.
7. Schneider Electric
8. Sentient Energy, Inc.
9. Siemens AG
10. Tollgrade Communication Inc.
The COVID-19 crisis is affecting the industries worldwide. The global economy is witnessing the worst hit in 2020, and it is likely to continue in 2021 also. The global energy & power industry is one of the major industries that are suffering serious disruptions due to the COVID-19 crisis, which in turn, impacts the growth of the global smart grid sensors market. Factory shutdowns, travel bans, trade bans, and border lockdowns to combat and contain the outbreak have impacted the smart grid sensors market.
This report focuses on the global Smart Grid Sensors market with the future forecast, growth opportunity, key market, and key players. The study objectives are to present the Smart Grid Sensors market development in North America, Europe, China, Japan, Southeast Asia, India, and Central & South America.
The recent research report on the global Smart Grid Sensors Market presents the latest industry data and future trends, allowing you to recognize the products and end users driving Revenue growth and profitability of the market.
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