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Technavio’s market research analysts have predicted that the global off-grid remote sensing power system market will grow steadily in the next four years and will post a CAGR of more than 10% by 2020. This industry research report identifies the growing adoption of light detection and ranging (LIDAR) for accuracy in wind speed measurement to be one of the major factors that will have a positive impact on the growth of this market in the coming years. Power generation using wind energy is highly dependent on the meteorological conditions, which results in the growing demand for remote sensing devices for determining the speed of wind and its direction at various heights. LIDAR is used by the wind industry to measure the vertical wind speed and also collect data up to several meters above the ground level. Compared to meteorological evaluation towers (MET), LIDAR can provide highly accurate information that helps in reducing uncertainties and also in ensuring that the project gets adequate financing. The increasing adoption of LIDAR technology, will, in turn, fuel the demand for off-grid remote sensing power systems as there is a constant need to ensure continuous power supply to LIDAR systems in off-grid locations.
The ability of remote sensing technology to provide world-class applications will result in its adoption by several end-user industries, such as oil and gas, aviation, and wind power industries. In addition to accuracy, LIDAR technology has several advantages over the MET systems such as low maintenance and higher uptime. As a result, the coming years will witness the replacement of the existing MET masts by LIDAR for wind measurements and they will soon find applications in several future offshore wind projects as well.
Though characterized by the presence of international and regional vendors, the local or regional vendors dominate the market in several regions which increases the competition among power system manufacturers. The market is marked by the presence of vendors who offer a single product and also by vendors who provide complete turnkey solutions. The leading players have a broad product portfolio that can be customized for use by a wide range of industries. Key vendors also have huge capital resources and regularly invest in R&D for developing new data management systems. Although the market’s growth potential invites new vendors, they find it difficult to compete with the existing vendors in terms of product quality, functionalities, and services. An increase in product extensions and technological innovation is likely to intensify the market’s competitive environment in the next few years.
The leading vendors in the market are -
The other prominent vendors in the market are Victron Energy, Evergreen Energy Technologies, Timber Line Electric and Control, and UPS Systems plc.
Accounting for more than 47% of the total market shares, the oil and gas industry dominated the market during 2015. This mainly attributes to the increased installation and use of supervisory control and data acquisition (SCADA) systems for pipeline monitoring and control and in applications such as real-time data collection, tracking, and monitoring. This helps oil and gas companies to control their production based on the market demand.
This market research and analysis predicts that, though the Americas were the major revenue contributors to the market during 2015, the rise in use of LIDAR in weather monitoring stations in EMEA will result in this region dominating the market by the end of the forecast period. Also, the increasing adoption of SCADA systems by countries in the Middle East and Africa for surveillance and security purposes, will propel growth prospects for the market. Analysts estimate this region to account for almost 49% of the total market shares by 2020.
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The off-grid power systems for remote sensing have extensive applications across various end-user industries such as oil and gas and wind energy. These systems are employed when the grid lines are unavailable, to reduce the load on the primary network, unreliable power, or in situations when 100% standalone power is needed. Off-grid power systems are being increasingly used by various monitoring systems, including Supervisory Control and Data Acquisition (SCADA) systems, Light Detection and Ranging (LiDAR) systems, and other numerous other remote monitoring devices. Also, the rapidly developing infrastructure of the wind industry will be a boon for the off-grid power systems for the remote sensing market.
The report, global off-grid remote sensing power system market, is part of Technavio’s energy research portfolio. This portfolio provides a comprehensive market analysis along with the market share, market sizing, and market segmentations covering areas such as energy storage, power, oil and gas, smart grid, and waste and waste management. These market research reports provide a perspective on the various market opportunities and market threats along with the key trends that would influence the market growth during the forecast period. It presents insights into the changing competitive landscape and a detailed profiling and market analysis of the vendors. Also covered in the research are the key regions or countries that would have an impact on the market during the assessment years.
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by end-users
PART 07: Geographical segmentation
PART 08: Market drivers
PART 09: Impact of drivers
PART 10: Market challenges
PART 11: Impact of drivers and challenges
PART 12: Market trends
PART 13: Vendor landscape
PART 14: Key vendor analysis
PART 15: Appendix
PART 16: Explore Technavio
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
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