Smart Grid Security Market, Rising Demand and Industry Key Players Revenue Future Qualitative Insights & Future Growth and Forecast By 2027
Market Scenario:
The introduction of
technologies such as supervisory control and data acquisition (SCADA) and smart
grid network management has modernized the current power grid infrastructure to
make performance, adaptability, and reliability more sophisticated. The smart
grid sensor is expected to show significant growth over the forecast period, in
the lines of these factors. In addition, the increasing number of electrical
thefts in commercial and residential areas, and the system of energy faults,
and extreme weather conditions operational capacity is expected to drive the
market over the forecast period.
Novel coronavirus has Smart Grid Security Market to
open new avenues for those firms that are on the lookout for solutions that are
reliable, efficiently managed, scalable, and are subscription-based, to remain
more focused on the core business. The Smart Grid Security Market is bearing
lesser impact of the COVID-19 outbreak compared to most other segments of the
tech world.
The conventional power
grid system is being modernized into a smart grid to address issues such as
power dissipation, concentrated information flow and growing safety and
consistency concerns.
On the other hand,
security concerns and increased counterfeiting of energy utilities are presumed
to hinder the growth of the market for smart grid sensors over the review
period. In addition, the high energy consumption of smart grids is presumed to
impede market growth over the projected period. In addition, the growing COVID
19 pandemics worldwide has created a major market disruption and is expected to
continue its impact on the market in the foreseeable future.
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Competitive Outlook:
Some of the key players
of smart grid sensors market include ABB Ltd. (Switzerland), General Electric
Company (U.S.), Oracle Corporation (U.S.), Siemens AG (Germany), Cisco
Systems, Inc. (U.S.), Itron, Inc. (U.S.), Landis+Gyr (Switzerland), Schneider
Electric SA (France), Tech Mahindra Ltd. (India), S&C Electric
Company (Illinois, U.S.), Aclara Technologies LLC (U.S.), Open Systems
International, Inc. (Minnesota, U.S.), Esyasoft Technologies Pvt. Ltd. (India),
Trilliant Holdings, Inc. (U.S.), Wipro Ltd. (India), NexGrid, LLC.
(U.S.), Kamstrup A/S (Denmark), Globema (Poland), EnerNOC, Inc. (U.S), and
e-Smart Systems Pvt. Ltd. (India).
Segmentation:
The smart grid sensors is
differentiated by component, sensors, solutions, service, and application.
Based on sensors, the
smart grid sensors market is sub-divided into dynamic line rating sensors,
outage detection sensors, voltage/temperature sensors, transformer monitoring
sensors, and others. The component segment consists of sensors, AMI meter,
programmable logic controller (PLC), networking hardware, and others.
Furthermore, the service is classified into deployment &integration,
consulting, support & maintenance, and others.
Smart grid sensors is
further divided based on solutions that include smart grid distribution
management, smart grid communication, substation automation, grid asset
management, Advance Metering Infrastructure (AMI), and billing &customer
information system.
Based on application
segment, the smart grid sensors is segmented into Advanced Metering
Infrastructure (AMI), smart energy meter, supervisory control and data
acquisition (SCADA), and others
Regional Analysis:
The smart grid sensors
are geographically segmented into four different regions, namely North America,
Asia Pacific , Europe and the rest of the world.
North America is presumed
the dominant region in the market for smart grid sensors. The United States and
Canada are the region's leading nations. It is attributed to the region 's
rising suppliers of smart grid solutions to boost grid stability.
In addition, Europe is
expected to enjoy significant growth over the forecast period. Countries such
as Germany, France and Great Britain are the region's leading countries. The
Global Solar Inverter Market is geographically segmented as Europe , North
America , Asia-Pacific and the rest of the world.
Due to the increase in
investments in the construction section, Asia-Pacific is likely to hold a
majority of the market share over the forecast period. Demand for solar
inverters in Asia-Pacific is expected to rise significantly due to growing
demand for solar energy sources and increasing investment in the region's solar
energy projects. Solar energy is seen as the best substitute for conventional
energy sources for reducing carbon emissions by meeting the region's
electricity needs.
Table of Contents:
1 Executive
Summary
2 Scope of the
Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
Continued….
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List of Tables
Table 1 Global Smart Grid
Security Market, By Region, 2020-2027
Table 2 North America:
Smart Grid Security Market, By Country, 2020-2027
Table 3 Europe: Smart
Grid Security Market, By Country, 2020-2027
Continued…
List of Figures
FIGURE 1 Global Smart
Grid Security Market Segmentation
FIGURE 2 Forecast
Methodology
FIGURE 3 Porter’s Five
Forces Analysis Of Global Smart Grid Security Market
Continued…
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