Smart Grid Sensors Market Driven by the disruption caused by COVID 19 , Industry Analysis by Top Competitor , Industry Profit Growth , Landscape and Demand
Market Research Future ( MRFR ), highlights that the “ Global Smart Grid Sensors Market 2020 ” is expected to grow exponentially , securing a significant market valuation and a vigorous CAGR of 18 % over the evaluation period
Market Synopsis
According to Market Research Future ( MRFR ), the global
smart grid sensors market is expected to secure approximately USD 4 billion by 2023 at a CAGR of 18 % over the forecast period 2017-2023 .
Market Scenario
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 . 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