The Europe Smart Grid Sensors Market should witness market growth of 15.6% CAGR during the forecast period (2022-2028).
Smart grids generate a vast quantity of data, which may be used and transformed into insightful information with the help of AI technologies. For example, operators may judge energy distribution from one site to another, operating variables and data about weather, demand, geography, or generating assets. But, even at the consumer level, AI is essential to assist families in understanding how much energy each of their particular appliances is using and how to change their use to be more economical.
As a result of this AI movement, several startups have joined the market. For example, upside energy, established in the UK, employs automated algorithms to balance supply and demand and assist grids in managing variations and peak consumption. On the business-to-business side, Fresh Energy, a rated company, links to smart meters and utilizes AI to provide users with information and advice about their power usage.
It is anticipated that the advent of new technologies, such as IoT solutions, will provide an opportunity for expansion. For example, Itron introduced a new home smart power meter for the German market in April 2021. As a result, the approach may work in contexts with several vendors. Governments throughout Europe are investing in advanced metering infrastructure as part of the growing efforts to upgrade the electrical grid and decrease T&D losses. By 2024, the EU will have installed nearly 225 million smart meters for electricity and 51 million for gas. This entails a possible €47 billion investment. Around 77% of European users will have smart power meters by 2024. A gas one will be used by approximately 44%. These and other reasons are fueling the European market for smart grid sensors.
The Germany market dominated the Europe Smart Grid Sensors Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $54.2 Million by 2028. The UK market is estimated to grow a CAGR of 14.6% during (2022-2028). Additionally, The France market would experience a CAGR of 16.4% during (2022-2028).
Based on Application, the market is segmented into Smart Energy Meter, Advanced Metering Infrastructure, Smart Grid Distribution Management, Supervisory Control & Data Acquisition and Others. Based on Type, the market is segmented into Voltage & Temperature Sensors, Outage Detection and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 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.)
Smart grids generate a vast quantity of data, which may be used and transformed into insightful information with the help of AI technologies. For example, operators may judge energy distribution from one site to another, operating variables and data about weather, demand, geography, or generating assets. But, even at the consumer level, AI is essential to assist families in understanding how much energy each of their particular appliances is using and how to change their use to be more economical.
As a result of this AI movement, several startups have joined the market. For example, upside energy, established in the UK, employs automated algorithms to balance supply and demand and assist grids in managing variations and peak consumption. On the business-to-business side, Fresh Energy, a rated company, links to smart meters and utilizes AI to provide users with information and advice about their power usage.
It is anticipated that the advent of new technologies, such as IoT solutions, will provide an opportunity for expansion. For example, Itron introduced a new home smart power meter for the German market in April 2021. As a result, the approach may work in contexts with several vendors. Governments throughout Europe are investing in advanced metering infrastructure as part of the growing efforts to upgrade the electrical grid and decrease T&D losses. By 2024, the EU will have installed nearly 225 million smart meters for electricity and 51 million for gas. This entails a possible €47 billion investment. Around 77% of European users will have smart power meters by 2024. A gas one will be used by approximately 44%. These and other reasons are fueling the European market for smart grid sensors.
The Germany market dominated the Europe Smart Grid Sensors Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $54.2 Million by 2028. The UK market is estimated to grow a CAGR of 14.6% during (2022-2028). Additionally, The France market would experience a CAGR of 16.4% during (2022-2028).
Based on Application, the market is segmented into Smart Energy Meter, Advanced Metering Infrastructure, Smart Grid Distribution Management, Supervisory Control & Data Acquisition and Others. Based on Type, the market is segmented into Voltage & Temperature Sensors, Outage Detection and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 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.)
Scope of the Study
By Application
- Smart Energy Meter
- Advanced Metering Infrastructure
- Smart Grid Distribution Management
- Supervisory Control & Data Acquisition
- Others
By Type
- Voltage & Temperature Sensors
- Outage Detection
- Others
By Country
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
Key Market Players
List of Companies Profiled in the Report:
- 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.
- Sentient Energy, Inc. (Koch Engineered Solutions) (Koch Industries, Inc.)
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Table of Contents
Chapter 1. Market Scope & Methodology1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Europe Smart Grid Sensors Market, by Application
1.4.2 Europe Smart Grid Sensors Market, by Type
1.4.3 Europe Smart Grid Sensors Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 Market Share Analysis, 2021
3.2 Strategies deployed in Smart Grid Sensors Market
Chapter 4. Europe Smart Grid Sensors Market by Application
4.1 Europe Smart Energy Meter Market by Country
4.2 Europe Advanced Metering Infrastructure Market by Country
4.3 Europe Smart Grid Distribution Management Market by Country
4.4 Europe Supervisory Control & Data Acquisition Market by Country
4.5 Europe Others Market by Country
Chapter 5. Europe Smart Grid Sensors Market by Type
5.1 Europe Voltage & Temperature Sensors Market by Country
5.2 Europe Outage Detection Market by Country
5.3 Europe Others Market by Country
Chapter 6. Europe Smart Grid Sensors Market by Country
6.1 Germany Smart Grid Sensors Market
6.1.1 Germany Smart Grid Sensors Market by Application
6.1.2 Germany Smart Grid Sensors Market by Type
6.2 UK Smart Grid Sensors Market
6.2.1 UK Smart Grid Sensors Market by Application
6.2.2 UK Smart Grid Sensors Market by Type
6.3 France Smart Grid Sensors Market
6.3.1 France Smart Grid Sensors Market by Application
6.3.2 France Smart Grid Sensors Market by Type
6.4 Russia Smart Grid Sensors Market
6.4.1 Russia Smart Grid Sensors Market by Application
6.4.2 Russia Smart Grid Sensors Market by Type
6.5 Spain Smart Grid Sensors Market
6.5.1 Spain Smart Grid Sensors Market by Application
6.5.2 Spain Smart Grid Sensors Market by Type
6.6 Italy Smart Grid Sensors Market
6.6.1 Italy Smart Grid Sensors Market by Application
6.6.2 Italy Smart Grid Sensors Market by Type
6.7 Rest of Europe Smart Grid Sensors Market
6.7.1 Rest of Europe Smart Grid Sensors Market by Application
6.7.2 Rest of Europe Smart Grid Sensors Market by Type
Chapter 7. Company Profiles
7.1 General Electric Company (GE Grid Solutions)
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Segmental and Regional Analysis
7.1.4 Research & Development Expense
7.1.5 Recent strategies and developments:
7.1.5.1 Partnerships, Collaborations, and Agreements:
7.1.5.2 Product Launches and Product Expansions:
7.1.6 SWOT Analysis
7.2 Siemens Energy AG
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Segmental and Regional Analysis
7.2.4 Research & Development Expenses
7.2.5 Recent strategies and developments:
7.2.5.1 Partnerships, Collaborations, and Agreements:
7.2.5.2 Product Launches and Product Expansions:
7.2.5.3 Acquisition and Mergers:
7.3 ABB Group
7.3.1 Company Overview
7.3.2 Financial Analysis
7.3.3 Segmental and Regional Analysis
7.3.4 Research & Development Expense
7.3.5 SWOT Analysis
7.4 Renesas Electronics Corporation (Echelon Industries Corporation)
7.4.1 Company Overview
7.4.2 Financial Analysis
7.4.3 Segmental and Regional Analysis
7.4.4 Research & Development Expense
7.5 Aclara Technologies LLC. (Hubbell Incorporated)
7.5.1 Company Overview
7.5.2 Financial Analysis
7.5.3 Segmental and Regional Analysis
7.6 Landis+Gyr Group AG
7.6.1 Company Overview
7.6.2 Financial Analysis
7.6.3 Regional Analysis
7.6.4 Research and Development Expense
7.6.5 Recent strategies and developments:
7.6.5.1 Partnerships, Collaborations, and Agreements:
7.7 Itron, Inc.
7.7.1 Company Overview
7.7.2 Financial Analysis
7.7.3 Segmental and Regional Analysis
7.7.4 Research & Development Expense
7.8 S&C Electric Company
7.8.1 Company Overview
7.8.2 Recent strategies and developments:
7.8.2.1 Product Launches and Product Expansions:
7.9 Trilliant Holdings, Inc.
7.9.1 Company Overview
7.10. Sentient Energy, Inc. (Koch Engineered Solutions) (Koch Industries, Inc.)
7.10.1 Company Overview
Companies Mentioned
- 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.
- Sentient Energy, Inc. (Koch Engineered Solutions) (Koch Industries, Inc.)
Methodology
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