According to a new report, published by KBV research, The Global Smart Grid Sensors Market size is expected to reach $913.8 Million by 2028, rising at a market growth of 15.8% CAGR during the forecast period.
The Advanced Metering Infrastructure segment is showcasing a CAGR of 16% during (2022 - 2028). Advanced metering infrastructure, or AMI, allows utilities to respond to changing customer demand, such as the fast-increasing use of electric vehicles and widely dispersed power sources. In addition, future communication technologies will make it possible to examine metering- and grid-related problems using streaming data, which can instantly process and understand millions of messages. These advancements help the grid modernization process go faster, increasing consumer happiness and creating new utility operational possibilities.
The Voltage & Temperature Sensors segment acquired maximum revenue share in the Global Smart Grid Sensors Market by Type in 2021 thereby, achieving a market value of $393.4 Million by 2028. In smart grids, these sensors are used to identify voltage variations. Power companies must adjust and monitor the power levels (such as current, voltage, and phase angle) flowing through each segment of underground and above-ground power lines. Voltage/temperature sensors or automatic load break switches are used in smart grids to detect voltage or temperature swings.
The Asia Pacific market dominated the Global Smart Grid Sensors Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $373.8 Million by 2028. The Europe market is exhibiting a CAGR of 15.6% during (2022 - 2028). Additionally, The North America market would display a CAGR of 15.3% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/smart-grid-sensors-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of General Electric Company (GE Grid Solutions), Siemens Energy AG, ABB Group, Renesas Electronics Corporation (Echelon Industries Corporation), Aclara Technologies LLC. (Hubbell Incorporated), Landis+Gyr Group AG, Itron, Inc., S&C Electric Company, Trilliant Holdings, Inc., and Sentient Energy, Inc. (Koch Engineered Solutions) (Koch Industries, Inc.)
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