Global Smart Grid Sensors Market Report 2022-2028: Increased Need for Efficient Data Monitoring Systems Coupled With Improved Cost Savings Drives Adoption - ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–Added Global Smart Grid Sensors Market 2022-2028 report ResearchAndMarkets.com Offer.

The global smart grid market is anticipated to grow at an exponential CAGR of 20.0% during the forecast period. The growth of the global smart grid market during the forecast period is attributed to the increased need for efficient data monitoring systems coupled with improved cost savings, as well as the increasing emphasis on renewable energy sources worldwide.

The global smart grid market is segmented by product. Based on the product, the market is segmented into software (advanced metering infrastructure, smart grid distribution management, smart grid security, grid asset management, and billing and customer information system), hardware (smart meters, sensors, programmable logic controllers (PLC) and others), and service (Consulting, support and maintenance and others). Among these, the smart meter segment is expected to grow during the forecast period as smart meters are increasingly adopted over traditional meters to improve cost savings.

Geographically, the market is segmented into North America, Europe, Asia Pacific and Rest of the World. North America holds a prominent share of the market due to the increasing adoption of advanced and novel technologies and increased investment by regional governments.

Furthermore, Europe is expected to hold the market share after North America due to the smart grid projects in the region. For example, Northern PowerGrid, the electricity distribution system operator for the North East, Yorkshire and North Lincolnshire in the UK, announced in November 2021 the launch of the first-of-its-kind smart grid scheme, known as “Micro Resilience,” utilizing energy storage systems and innovative communications technology .

The report covers

Comprehensive research methodology of the global Smart Grid market.
This report also includes a detailed and comprehensive market overview with key analyst insights.
A comprehensive analysis of the macro and micro factors affecting the market, guided by key recommendations.
Analysis of regional regulations and other government policies affecting the global Smart Grid market.
Insights into market determinants stimulating the global Smart Grid Market.
Detailed and extensive market segments with regional distribution of the forecast sales.
Extensive profiles and current developments of market participants.

Main topics covered:

1. Summary of the report

2. Market overview and insights

3. Competitive landscape

4. Market Segmentation

5. Regional Analysis

6. Company Profiles

companies mentioned