The latest report issued by NanoMarkets titled, “Smart Grid Sensing, Monitoring and Control Systems,” predicts the returns from the sale of sensors in the Smart Grid sector to reach 6.3 billion dollars by 2014.
The reports further mentioned that the sales revenue would almost double and reach 13 billion dollars by 2018.
The sale revenue from the home area network (HAN) sensors is marked to reach 1.1 billion dollars by 2014. The subsidised smart meters, part of the HAN network, make the home energy monitoring systems cost- effective.
Advanced sensors that are installed at the substations are extremely beneficial for power transmission. They help in minimising unexpected failures, lessen the maintenance cost and also extend the operational period of the transformer. Keeping in mind, the advantages of these sensors, NanoMarkets forecasts that the revenue from the sales of these sensors in 2014 would go upto 935 million and would reach 2,725 billion by the year 2018.
Europe is expected to top the market for Grid Sensors till the year 2016, bagging almost 40% of the market share in the year 2014. The Asian countries have concentrated more on building high capacity bulk transmission systems, which is contrary to the European market focussing largely on smart distribution using smart sensors.
The report also talks about the new business opportunities that are emerging in the Smart Grid sector worldwide. SCADA and AMI monitoring, distribution and transmission grids, renewable energy integration, and HANs are some of the areas that the report touches upon. The report also gives a detailed forecast for a period of eight years grouped by region, value and volume.
Source: http://www.nanomarkets.net