The North America Smart Grid Sensors Market should witness market growth of 15.3% CAGR during the forecast period (2022-2028).
In the transmission industry, digital investment is focused on the digitalization of power transformers, automation of substations, and the development of advanced sensors (such as phasor measurement units) and flexible alternating-current transmission systems (FACTS), enabling a faster and more flexible operation as well as better control, monitoring, and optimization of the power grid. Lastly, investment in infrastructure for public electric car charging will increase by more than 20% in 2021. However, it still accounts for less than 5% of the distribution investment.
In general, smart grids give customers greater power by giving them more control over how they use energy and how much it costs. For example, users can pay according to their usage rather than a fixed fee. Also, end users who employ renewable energy sources like solar panels on their rooftops can sell any extra energy generated on their land. Because of this new infrastructure, the power generation, delivery, and storage trend are shifting towards more decentralization.
The U.S. electric grid, which has more than 9,200 electric generating units with a combined producing capacity of more than 1 million megawatts and more than 600,000 miles of transmission lines, is an engineering wonder. Therefore, the Office of Electricity (OE) is collaborating with its public and corporate partners to strengthen, develop, and enhance the energy infrastructure to assure access to dependable, secure, and sustainable energy sources. The frequency and duration of power outages can be greatly reduced, as can the impact of storms, by modernizing the grid to make it 'smarter'and more resilient by using advanced technologies, apparatus, and controls that communicate and cooperate to deliver electricity more reliably and efficiently. These Factors are drive the development of the North American smart grid sensor market.
The US market dominated the North America Smart Grid Sensors Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $184.9 Million by 2028. The Canada market is poised to grow at a CAGR of 18% during (2022-2028). Additionally, The Mexico market should witness a CAGR of 16.9% 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 U.S., Mexico, Canada, and Rest of North America.
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.)
In the transmission industry, digital investment is focused on the digitalization of power transformers, automation of substations, and the development of advanced sensors (such as phasor measurement units) and flexible alternating-current transmission systems (FACTS), enabling a faster and more flexible operation as well as better control, monitoring, and optimization of the power grid. Lastly, investment in infrastructure for public electric car charging will increase by more than 20% in 2021. However, it still accounts for less than 5% of the distribution investment.
In general, smart grids give customers greater power by giving them more control over how they use energy and how much it costs. For example, users can pay according to their usage rather than a fixed fee. Also, end users who employ renewable energy sources like solar panels on their rooftops can sell any extra energy generated on their land. Because of this new infrastructure, the power generation, delivery, and storage trend are shifting towards more decentralization.
The U.S. electric grid, which has more than 9,200 electric generating units with a combined producing capacity of more than 1 million megawatts and more than 600,000 miles of transmission lines, is an engineering wonder. Therefore, the Office of Electricity (OE) is collaborating with its public and corporate partners to strengthen, develop, and enhance the energy infrastructure to assure access to dependable, secure, and sustainable energy sources. The frequency and duration of power outages can be greatly reduced, as can the impact of storms, by modernizing the grid to make it 'smarter'and more resilient by using advanced technologies, apparatus, and controls that communicate and cooperate to deliver electricity more reliably and efficiently. These Factors are drive the development of the North American smart grid sensor market.
The US market dominated the North America Smart Grid Sensors Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $184.9 Million by 2028. The Canada market is poised to grow at a CAGR of 18% during (2022-2028). Additionally, The Mexico market should witness a CAGR of 16.9% 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 U.S., Mexico, Canada, and Rest of North America.
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
- US
- Canada
- Mexico
- Rest of North America
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 North America Smart Grid Sensors Market, by Application
1.4.2 North America Smart Grid Sensors Market, by Type
1.4.3 North America 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. North America Smart Grid Sensors Market by Application
4.1 North America Smart Energy Meter Market by Country
4.2 North America Advanced Metering Infrastructure Market by Country
4.3 North America Smart Grid Distribution Management Market by Country
4.4 North America Supervisory Control & Data Acquisition Market by Country
4.5 North America Others Market by Country
Chapter 5. North America Smart Grid Sensors Market by Type
5.1 North America Voltage & Temperature Sensors Market by Country
5.2 North America Outage Detection Market by Country
5.3 North America Others Market by Country
Chapter 6. North America Smart Grid Sensors Market by Country
6.1 US Smart Grid Sensors Market
6.1.1 US Smart Grid Sensors Market by Application
6.1.2 US Smart Grid Sensors Market by Type
6.2 Canada Smart Grid Sensors Market
6.2.1 Canada Smart Grid Sensors Market by Application
6.2.2 Canada Smart Grid Sensors Market by Type
6.3 Mexico Smart Grid Sensors Market
6.3.1 Mexico Smart Grid Sensors Market by Application
6.3.2 Mexico Smart Grid Sensors Market by Type
6.4 Rest of North America Smart Grid Sensors Market
6.4.1 Rest of North America Smart Grid Sensors Market by Application
6.4.2 Rest of North America 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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