Smart Grid Sensors Market by Technology and Geography - Forecast and Analysis 2020-2024

  • Published: Dec 2020
  • Pages: 120
  • SKU: IRTNTR45905
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The smart grid sensors market has the potential to grow by USD 122.47 million during 2020-2024, and the market’s growth momentum will accelerate at a CAGR of 9.87%.

This smart grid sensors market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentations by technology (hardware components and software systems) and geography (North America, Europe, APAC, MEA, and South America). The smart grid sensors market report also offers information on several market vendors, including ABB Ltd., Arteche Group, Eaton Corporation Plc, General Electric Co., Honeywell International Inc., Hubbell Inc., International Business Machines Corp., Itron Inc., Mitsubishi Electric Corp., and Xylem Inc. among others.

What will the Smart Grid Sensors Market Size be in 2020?

Smart-Grid-Sensors-Market-Market-Size-2019-2024

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Smart Grid Sensors Market: Key Drivers and Trends

Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The transition to smart grids is notably driving the smart grid sensors market growth, although factors such as concerns over cyber security may impede market growth. To unlock information on the key market drivers and the COVID-19 pandemic impact on the smart grid sensors market get your FREE report sample now.

This smart grid sensors market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. Get detailed insights on the trends and challenges, which will help companies evaluate and develop growth strategies.

Who are the Major Smart Grid Sensors Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • ABB Ltd.
  • Arteche Group
  • Eaton Corporation Plc
  • General Electric Co.
  • Honeywell International Inc.
  • Hubbell Inc.
  • International Business Machines Corp.
  • Itron Inc.
  • Mitsubishi Electric Corp.
  • Xylem Inc.

 

The smart grid sensors market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the smart grid sensors market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Smart Grid Sensors Market?

Smart-Grid-Sensors-Market-Market-Share-by-Region-2019-2024

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32% of the market’s growth will originate from North America during the forecast period. The US is a key market for smart grid sensors in North America. 

The report offers an up-to-date analysis of the geographical composition of the market. North America has been recording significant growth rate and is expected to offer several growth opportunities to market vendors during the forecast period. The increasing need for asset optimization will facilitate the smart grid sensors market growth in North America over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report.

What are the Revenue-generating Technology Segments in the Smart Grid Sensors Market?

Smart-Grid-Sensors-Market-Market-Share-by-Technology-2019-2024

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The smart grid sensors market share growth by the hardware components segment has been significant. This report provides insights on the impact of the unprecedented outbreak of COVID-19 on market segments. Through these insights, you can safely deduce transformation patterns in consumer behavior, which is crucial to gauge segment-wise revenue growth during 2020-2024 and embrace technologies to improve business efficiency.

Request for a free sample of the report to get an exclusive glimpse of actionable market insights on post COVID-19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the smart grid sensors market size.

 

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What are the Key Factors Covered in this Smart Grid Sensors Market Report?

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive smart grid sensors market growth during the next five years
  • Precise estimation of the smart grid sensors market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the smart grid sensors market across North America, Europe, APAC, MEA, and South America 
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of smart grid sensors market vendors

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Smart Grid Sensors Market Scope

Report Coverage

Details

Page number

120

Base year

2019

Forecast period

2020-2024

Growth momentum & CAGR

Accelerate at a CAGR of 10%

Market growth 2020-2024

$ 122.47 million

Market structure

Fragmented

YoY growth (%)

-3.87

Regional analysis

North America, Europe, APAC, MEA, and South America

Performing market contribution

North America at 32%

Key consumer countries

US, China, Japan, UK, and Germany

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

ABB Ltd., Arteche Group, Eaton Corporation Plc, General Electric Co., Honeywell International Inc., Hubbell Inc., International Business Machines Corp., Itron Inc., Mitsubishi Electric Corp., and Xylem Inc.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Executive Summary

  • Market Overview

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

  • Five forces analysis
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Technology

  • Market segments
  • Comparison by Technology
  • Hardware components - Market size and forecast 2019-2024
  • Software systems - Market size and forecast 2019-2024
  • Market opportunity by Technology

Customer landscape

  • Overview

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • North America - Market size and forecast 2019-2024
  • Europe - Market size and forecast 2019-2024
  • APAC - Market size and forecast 2019-2024
  • MEA - Market size and forecast 2019-2024
  • South America - Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Competitive scenario
  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • ABB Ltd.
  • Arteche Group
  • Eaton Corporation Plc
  • General Electric Co.
  • Honeywell International Inc.
  • Hubbell Inc.
  • International Business Machines Corp.
  • Itron Inc.
  • Mitsubishi Electric Corp.
  • Xylem Inc.

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

Research Framework

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.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The smart grid sensors market growth will increase by $122.47 million during 2019-2024.
The smart grid sensors market is expected to grow at a CAGR of 9.87% during 2019-2024.
Technavio has segmented the smart grid sensors market by technology (Hardware components and Software systems) and geographic (North America, Europe, APAC, MEA, and South America).
ABB Ltd., Arteche Group, Eaton Corporation Plc, General Electric Co., Honeywell International Inc., Hubbell Inc., International Business Machines Corp., Itron Inc., Mitsubishi Electric Corp., Xylem Inc. are a few of the key vendors in the smart grid sensors market.
North America will register the highest growth rate of 31.87% among the other regions. Therefore, the smart grid sensors market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the smart grid sensors market growth are:
  • Transition to smart grids
The smart grid sensors market vendors should focus on grabbing business opportunities from the hardware components segment as it accounted for the largest market share in the base year.
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