The Asia Pacific Smart Grid Sensors Market would witness market growth of 16.0% CAGR during the forecast period (2022-2028).
Smart Grid technology will allow the grid to adapt more effectively to the dynamics of distributed generation and renewable energy sources, making it easier for utilities and customers to utilize these resources and profit from them. It is difficult for the grid to take input from many dispersed energy resources since the present infrastructure was built to transport electricity from centralized supply sources to fixed, predictable demands.
Moreover, the grid will need integrated monitoring and control and integration with substation automation to govern various energy flows and arrange for standby capacity to supplement intermittent generation because of intermittent supplies like solar and wind power. Controlling bidirectional power flows as well as monitoring, managing, and supporting these remote resources will be made simpler by smart grid capabilities.
Customers are given the means to take advantage of real-time power pricing, incentive-based load reduction signals, or emergency load reduction signals via sophisticated communications capabilities. Moreover, a smart grid may enable the distribution generation resources like domestic solar panels, which allow small participants like individual residences and small businesses to sell their conserved energy to neighbors or back to the grid. The same will apply to bigger commercial enterprises with backup or renewable power systems that may provide electricity for a fee at peak demand, which usually occurs in the summer when air conditioners burden the grid.
The Ministry of Power (MOP) also adopted a Vision and Roadmap of Smart Grid for India in August 2013 after considering the need to convert the grid to a SmartGrid. After early technology demonstrations and allowing business models to enable public and private financial flows to scale up SmartGrid implementation, the NSGM is anticipated to operate as a catalyst to encourage the adoption of SmartGrid technologies and standards by utilities. The performance of SmartGrid throughout the nation will be planned, designed, and supported by the NSGM. The State Level Project Management Units (SLPMUs), capacity development, and creating preparation for successful SmartGrid deployment are the main areas of concentration for the NSGM at the state level. As a result, the market for smart grid sensors in the Asia Pacific is anticipated to grow.
The China market dominated the Asia Pacific Smart Grid Sensors Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $109.6 Million by 2028. The Japan market is experiencing a CAGR of 15.3% during (2022 - 2028). Additionally, The India market would display a CAGR of 16.8% 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 China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Smart Grid Sensors Market is Projected to reach USD 913.8 Million by 2028, at a CAGR of 15.8%
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
Market Segments Covered in the Report:
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
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
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.)
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Asia Pacific Smart Grid Sensors Market, by Application
1.4.2 Asia Pacific Smart Grid Sensors Market, by Type
1.4.3 Asia Pacific 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. Asia Pacific Smart Grid Sensors Market by Application
4.1 Asia Pacific Smart Energy Meter Market by Country
4.2 Asia Pacific Advanced Metering Infrastructure Market by Country
4.3 Asia Pacific Smart Grid Distribution Management Market by Country
4.4 Asia Pacific Supervisory Control & Data Acquisition Market by Country
4.5 Asia Pacific Others Market by Country
Chapter 5. Asia Pacific Smart Grid Sensors Market by Type
5.1 Asia Pacific Voltage & Temperature Sensors Market by Country
5.2 Asia Pacific Outage Detection Market by Country
5.3 Asia Pacific Others Market by Country
Chapter 6. Asia Pacific Smart Grid Sensors Market by Country
6.1 China Smart Grid Sensors Market
6.1.1 China Smart Grid Sensors Market by Application
6.1.2 China Smart Grid Sensors Market by Type
6.2 Japan Smart Grid Sensors Market
6.2.1 Japan Smart Grid Sensors Market by Application
6.2.2 Japan Smart Grid Sensors Market by Type
6.3 India Smart Grid Sensors Market
6.3.1 India Smart Grid Sensors Market by Application
6.3.2 India Smart Grid Sensors Market by Type
6.4 South Korea Smart Grid Sensors Market
6.4.1 South Korea Smart Grid Sensors Market by Application
6.4.2 South Korea Smart Grid Sensors Market by Type
6.5 Singapore Smart Grid Sensors Market
6.5.1 Singapore Smart Grid Sensors Market by Application
6.5.2 Singapore Smart Grid Sensors Market by Type
6.6 Malaysia Smart Grid Sensors Market
6.6.1 Malaysia Smart Grid Sensors Market by Application
6.6.2 Malaysia Smart Grid Sensors Market by Type
6.7 Rest of Asia Pacific Smart Grid Sensors Market
6.7.1 Rest of Asia Pacific Smart Grid Sensors Market by Application
6.7.2 Rest of Asia Pacific 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
TABLE 1 Asia Pacific Smart Grid Sensors Market, 2018 - 2021, USD Million
TABLE 2 Asia Pacific Smart Grid Sensors Market, 2022 - 2028, USD Million
TABLE 3 Asia Pacific Smart Grid Sensors Market by Application, 2018 - 2021, USD Million
TABLE 4 Asia Pacific Smart Grid Sensors Market by Application, 2022 - 2028, USD Million
TABLE 5 Asia Pacific Smart Energy Meter Market by Country, 2018 - 2021, USD Million
TABLE 6 Asia Pacific Smart Energy Meter Market by Country, 2022 - 2028, USD Million
TABLE 7 Asia Pacific Advanced Metering Infrastructure Market by Country, 2018 - 2021, USD Million
TABLE 8 Asia Pacific Advanced Metering Infrastructure Market by Country, 2022 - 2028, USD Million
TABLE 9 Asia Pacific Smart Grid Distribution Management Market by Country, 2018 - 2021, USD Million
TABLE 10 Asia Pacific Smart Grid Distribution Management Market by Country, 2022 - 2028, USD Million
TABLE 11 Asia Pacific Supervisory Control & Data Acquisition Market by Country, 2018 - 2021, USD Million
TABLE 12 Asia Pacific Supervisory Control & Data Acquisition Market by Country, 2022 - 2028, USD Million
TABLE 13 Asia Pacific Others Market by Country, 2018 - 2021, USD Million
TABLE 14 Asia Pacific Others Market by Country, 2022 - 2028, USD Million
TABLE 15 Asia Pacific Smart Grid Sensors Market by Type, 2018 - 2021, USD Million
TABLE 16 Asia Pacific Smart Grid Sensors Market by Type, 2022 - 2028, USD Million
TABLE 17 Asia Pacific Voltage & Temperature Sensors Market by Country, 2018 - 2021, USD Million
TABLE 18 Asia Pacific Voltage & Temperature Sensors Market by Country, 2022 - 2028, USD Million
TABLE 19 Asia Pacific Outage Detection Market by Country, 2018 - 2021, USD Million
TABLE 20 Asia Pacific Outage Detection Market by Country, 2022 - 2028, USD Million
TABLE 21 Asia Pacific Others Market by Country, 2018 - 2021, USD Million
TABLE 22 Asia Pacific Others Market by Country, 2022 - 2028, USD Million
TABLE 23 Asia Pacific Smart Grid Sensors Market by Country, 2018 - 2021, USD Million
TABLE 24 Asia Pacific Smart Grid Sensors Market by Country, 2022 - 2028, USD Million
TABLE 25 China Smart Grid Sensors Market, 2018 - 2021, USD Million
TABLE 26 China Smart Grid Sensors Market, 2022 - 2028, USD Million
TABLE 27 China Smart Grid Sensors Market by Application, 2018 - 2021, USD Million
TABLE 28 China Smart Grid Sensors Market by Application, 2022 - 2028, USD Million
TABLE 29 China Smart Grid Sensors Market by Type, 2018 - 2021, USD Million
TABLE 30 China Smart Grid Sensors Market by Type, 2022 - 2028, USD Million
TABLE 31 Japan Smart Grid Sensors Market, 2018 - 2021, USD Million
TABLE 32 Japan Smart Grid Sensors Market, 2022 - 2028, USD Million
TABLE 33 Japan Smart Grid Sensors Market by Application, 2018 - 2021, USD Million
TABLE 34 Japan Smart Grid Sensors Market by Application, 2022 - 2028, USD Million
TABLE 35 Japan Smart Grid Sensors Market by Type, 2018 - 2021, USD Million
TABLE 36 Japan Smart Grid Sensors Market by Type, 2022 - 2028, USD Million
TABLE 37 India Smart Grid Sensors Market, 2018 - 2021, USD Million
TABLE 38 India Smart Grid Sensors Market, 2022 - 2028, USD Million
TABLE 39 India Smart Grid Sensors Market by Application, 2018 - 2021, USD Million
TABLE 40 India Smart Grid Sensors Market by Application, 2022 - 2028, USD Million
TABLE 41 India Smart Grid Sensors Market by Type, 2018 - 2021, USD Million
TABLE 42 India Smart Grid Sensors Market by Type, 2022 - 2028, USD Million
TABLE 43 South Korea Smart Grid Sensors Market, 2018 - 2021, USD Million
TABLE 44 South Korea Smart Grid Sensors Market, 2022 - 2028, USD Million
TABLE 45 South Korea Smart Grid Sensors Market by Application, 2018 - 2021, USD Million
TABLE 46 South Korea Smart Grid Sensors Market by Application, 2022 - 2028, USD Million
TABLE 47 South Korea Smart Grid Sensors Market by Type, 2018 - 2021, USD Million
TABLE 48 South Korea Smart Grid Sensors Market by Type, 2022 - 2028, USD Million
TABLE 49 Singapore Smart Grid Sensors Market, 2018 - 2021, USD Million
TABLE 50 Singapore Smart Grid Sensors Market, 2022 - 2028, USD Million
TABLE 51 Singapore Smart Grid Sensors Market by Application, 2018 - 2021, USD Million
TABLE 52 Singapore Smart Grid Sensors Market by Application, 2022 - 2028, USD Million
TABLE 53 Singapore Smart Grid Sensors Market by Type, 2018 - 2021, USD Million
TABLE 54 Singapore Smart Grid Sensors Market by Type, 2022 - 2028, USD Million
TABLE 55 Malaysia Smart Grid Sensors Market, 2018 - 2021, USD Million
TABLE 56 Malaysia Smart Grid Sensors Market, 2022 - 2028, USD Million
TABLE 57 Malaysia Smart Grid Sensors Market by Application, 2018 - 2021, USD Million
TABLE 58 Malaysia Smart Grid Sensors Market by Application, 2022 - 2028, USD Million
TABLE 59 Malaysia Smart Grid Sensors Market by Type, 2018 - 2021, USD Million
TABLE 60 Malaysia Smart Grid Sensors Market by Type, 2022 - 2028, USD Million
TABLE 61 Rest of Asia Pacific Smart Grid Sensors Market, 2018 - 2021, USD Million
TABLE 62 Rest of Asia Pacific Smart Grid Sensors Market, 2022 - 2028, USD Million
TABLE 63 Rest of Asia Pacific Smart Grid Sensors Market by Application, 2018 - 2021, USD Million
TABLE 64 Rest of Asia Pacific Smart Grid Sensors Market by Application, 2022 - 2028, USD Million
TABLE 65 Rest of Asia Pacific Smart Grid Sensors Market by Type, 2018 - 2021, USD Million
TABLE 66 Rest of Asia Pacific Smart Grid Sensors Market by Type, 2022 - 2028, USD Million
TABLE 67 KEY INFORMATION – GENERAL ELECTRIC Company
TABLE 68 Key Information – Siemens Energy AG
TABLE 69 Key Information – ABB Group
TABLE 70 key information – Renesas Electronics Corporation
TABLE 71 Key Information – Aclara Technologies LLC.
TABLE 72 Key Information – Landis+Gyr Group AG
TABLE 73 Key Information – Itron, Inc.
TABLE 74 Key information – S&C Electric Company
TABLE 75 Key information – Trilliant Holdings, Inc.
TABLE 76 key Information – Sentient Energy, Inc.
List of Figures
FIG 1 Methodology for the research
FIG 2 Market Share Analysis, 2021
FIG 3 Recent strategies and developments: General Electric Company
FIG 4 Swot analysis: General electric (GE) Co.
FIG 5 Recent strategies and developments: Siemens Ltd.
FIG 6 SWOT Analysis: ABB Group