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Smart Grid Sensors Market to Reach $2.03 Billion, Globally, by 2031 at 18.86% CAGR: Allied Market ResearchThe smart grid sensors market is expected to grow steadily owing to the supportive regulatory framework of governments worldwide to promote deployment of smart grids along with surge in need for energy-efficient and sustainable solutions across the globe. PORTLAND, Ore., Feb. 22, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Smart Grid Sensors Market by Type (Voltage & Temperature Sensors, Outage Detection and Others), Application (Advanced Metering Infrastructure, Smart Grid Distribution Management, Supervisory Control & Data Acquisition, Smart Energy Meter and Others), And Region (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2022-2031" According to the report, The global smart grid sensors market was valued at $364.7 million in 2021, and is projected to reach $2 billion by 2031, growing at a CAGR of 18.9% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.  Request PDF Brochure: https://www.alliedmarketresearch.com/request-sample/5845 Drivers, Restraints, and Opportunities Growing need for energy-efficient and sustainable solutions drives the growth of the global smart grid sensors market. However, security concerns and the lack of awareness in respect of the availability of smart grid solutions might hamper growth of the market. On the contrary, the ongoing smart city projects in developing countries set potential growth opportunities for the smart grid sensors market. Covid-19 Scenario
The Voltage & Temperature Sensors Segment to Rule the Roost By type, the voltage & temperature sensors segment held the major share in 2021, garnering around half of the global smart grid sensors market revenue. However, the outage detection segment would showcase a faster CAGR of 20.2% during the forecast period. The voltage & temperature sensors segment is expected to grow steadily owing to the growing investments of major players in this technology to gain a competitive edge in the market. The Smart Energy Meter Segment to Maintain its Dominance During the Forecast Period By application, the smart energy meter segment contributed to the highest share in 2021, accounting for around one-third of the global smart grid sensors market revenue. The advanced metering infrastructure segment would showcase the fastest CAGR of 23.6% throughout the forecast period. This is attributed to the fact that smart energy meters allow utilities to collect and analyze data on electricity usage in real-time and can provide customers with detailed usage information to help them manage their energy usage more effectively.
Asia-Pacific Garnered the Major Share in 2021 By region, Asia-Pacific garnered the highest share in 2021, holding nearly half of the global smart grid sensors market revenue in 2021, and is projected to retain its dominance by 2031. The same region would also portray the fastest CAGR of 21.2% during the forecast period. Rapid surge in population and rise in the economy of Asia-Pacific have propelled the market growth. Leading Market Players
The report analyzes these key players in the global smart grid sensors market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, developments, and product portfolios of every market player. Want to Access the Statistical Data and Graphs, Key Players' Strategies: https://www.alliedmarketresearch.com/smart-grid-sensors-market/purchase-options Key Benefits For Stakeholders:
Smart Grid Sensors Market Key Segments: Sensor
Application
By Region
Buy this Research Report @ https://bit.ly/3m1iXGs Trending Reports in Semiconductor Industry (Book Now with 10% Discount): Wireless Sensor Market Trends, Analytics and Statistics Industrial Sensors Market Manufacturer, Report to 2031 Humidity Sensor Market Size, Share | Industry Trends CO2 Gas Sensor Market Insight and Trends 2031 MEMS Sensor Market Size, Share | 2023 - 2031 About Us Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry. Contact: Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg
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