New NanoMarkets Report Pegs Smart Grid Sensor Market at $6.3 Billion by 2014

March 24, 2011 - PRLog -- Glen Allen, Virginia:  Industry analyst firm NanoMarkets has just issued its latest Smart Grid report titled, “Smart Grid Sensing, Monitoring and Control Systems.” In the report NanoMarkets says that revenues from sales of sensors and related software to the worldwide Smart Grid sector will be $6.3 billion by 2014 and will reach $13.0 billion by 2018.  Details of the report are available at www.nanomarkets.net. 
 
Findings from the report:
 
Sales of sensors and related software for home area network (HAN) applications will reach $1.1 billion by 2014, five times what they are today.  Although sophisticated home energy monitoring has been in vogue in the past, subsidized smart meter deployments will make it cost effective for the first time.
 
Transformers are the power companies’ biggest capital investments but have traditionally been managed manually, retroactively and inefficiently.  Next-generation sensors deployed at substations will aid utilities to avoid unplanned failures, reduce maintenance costs and extend useful transformer life.  As a result, NanoMarkets expects to see transformer monitoring sensors generate revenues of $935 million by 2014 to reach $2,725 billion by 2018.
 
Europe will be the largest market for Smart Grid sensors until 2016, accounting for almost 40 percent of the market in 2014.  Asia is often considered to be the “land of opportunity” for Smart Grids, but European nations have focused on smart distribution, which is heavily dependent on sensor deployment.  By contrast Asian countries have been more interested in building high capacity bulk transmission systems.
 
About the report:
 
This new report from NanoMarkets identifies the new business opportunities for sensing and monitoring that are emerging from Smart Grid deployment worldwide.
Areas covered include transformer monitoring, SCADA and AMI monitoring, along with sensors for smart appliances, HANs, renewable energy integration, distribution and transmission grids.  The report includes a detailed eight-year forecast broken out by volume, value and region.  
 
About NanoMarkets:
 
NanoMarkets tracks and analyzes emerging market opportunities in energy and electronics markets created by developments in advanced materials. The firm has published numerous reports on both Smart Grids and sensors.  Visit www.nanomarkets.net for a full listing of NanoMarkets' reports and other services.

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NanoMarkets, a Virginia-based analyst firm offers market research and analysis coverage of advanced materials and emerging electronics and energy markets. Visit http://www.nanomarkets.net for a full listing of NanoMarkets' reports and other services.