Smart grid sensors market to reach $387.54 M by 2026
The global smart grid sensors market is expected to grow from $172.34 M in 2018 to $387.54 M by 2026 at a CAGR of 16.84 % during the period from 2018 - 2026.
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According to a recent research study published by Data Library Research, the global smart grid sensors market is expected to grow from $172.34 M in 2018 to $387.54 M by 2026 at a CAGR of 16.84 % during the forecast period from 2018 – 2026.
Smart grid sensors play a crucial role in modern electric grid infrastructure to manage and control operations on all the operating levels, such as generation, transmission, distribution, as well as end use. Smart grid sensors provide a complex energy system network that can automatically monitor the flow of energy as well as manipulate the demand supply of electric power, which is among the primary applications of these devices.
Controlling the production and distribution of electric power, as well as electrical power conditioning, are significant functions of smart grid sensor networks.
Smart grid sensors are lightweight and small nodes that are employed as detection stations in smart grid networks.
The integration of software applications such as SCADA and smart grid distribution management has improved the operational efficiency of existing power grid system. It plays a vital role in remote monitoring equipment, which includes power lines, energy transformers, and smart grids, for demand-side resource management.
Increasing investment from energy utilities for developing grid infrastructure, drives the demand for smart grid sensors market during the forecast period.
The key players covered in this report are: Tollgrade, Coope (Eaton), Sentient, QinetiQ, ABB, GE, Arteche, Landis, Gyr, 3M.
Source: Daily Science