Global Off-grid Power Systems for Remote Sensing Market was valued US$ XX3.85 Mn in 2019 and is expected to reach US$ X1X5.X5 Mn by 2027, at CAGR of 8X.X5% during forecast period of 2020 to 2027.
Global Off-grid Power Systems for Remote Sensing Market
Global Off-grid Remote Sensing Power Systems Market: Overview
Off-grid remote sensing power systems play vital role, when there is unavailability of local or main grid system or requirement for solely standalone power. These systems can reduce the load on the main grid since they are not connected to it and engage a secondary power source, viz. natural gas, fuel cell, or solar energy. Hence, the global market for off-grid power systems for remote sensing is expected to witness CAGR of 8X.X5% from 2020 to 2027. The market was worth US$ XX3.85 Mn in 2019 and is likely to touch a revenue of US$ X1X5.X5 Mn by the end of 2027.The report study has analyzed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.
The market can witness the rapid growth in the region where the grid lines and complete standalone power are not available as these systems are used to reduce the load from the main grid. Secondary power sources such as batteries and fuel cells are the main subordinates of these systems, additionally, this power system is used by several monitoring systems like Light Detection and Ranging (LiDAR) systems and Supervisory Control and Data Acquisition (SCADA) systems. Off-grid power systems for remote sensing are not connected to local or main power grid and can be utilized by numerous industries such as oil and gas, wind energy, forestry and agricultural sector as well, thus they have always strong demand by various end users.
Global Off-grid Remote Sensing Power Systems Market: Driver, Trends, Challenges, Restraints and Opportunities
Remote sensing systems are utilized in several industries but they require high accuracy systems, as organizations rely upon the data provided by these systems to monitor different operations from distant locations. For which, lots of initiatives and R&D are done by key players to develop a remote sensing product with highest accuracy. In addition, increase in investments in offshore wind energy plants, is also likely to boost the market growth.
Global off-grid remote sensing power systems market could witness the growth due to several applications of it in the oil and gas sector such as, exploration activities, monitoring of hydrocarbon pipelines, lithological mapping and environmental geology. Oil & Gas segment is expected to grow with CAGR of XX.XX% during the forecast period and Global off-grid remote sensing power systems market is also anticipated to grow due to its numerous use in forestry applications such as biomass estimation, coastal protection, agroforestry mapping, burn delineation and depletion monitoring. Similarly, the agricultural sector could also bring favorable opportunities for players in the world off-grid remote sensing power systems market with the need to measure the viability and health of crops using satellite and airborne images. Technological advancements and standalone property of off-grid remote sensing power systems offer the benefit of limiting the necessity of the main grid and employing a combination of technologies for power generation.
Conversely, fluctuating prices of remote sensing power systems owing to its varying size and capacity affects the end-user industries, which in turn hamper the product demand adversely. Moreover, initial high investments in off-grid power system technologies, also restrain the market growth.
Global Off-grid Remote Sensing Power Systems Market: Geographical Analysis
A plunge can be seen in the oil and gas reserves in North America, which leads to need of renewable energy for the purpose of powering remote sensing systems. This could bring the growth in the North American off-grid remote sensing power systems market with an expected CAGR of XX.XX% and take a leading position globally by reaching value of US$ XX.XX Mn. Europe can experience the good growth at CAGR XX.XX% during the forecast period on account of the availability of substantial wind energy capacity, especially in Germany and the U.K. and this region is anticipated to reach US$ XX.XX Mn. The regions Asia Pacific, the Middle East and Africa, and Latin America could be other prominent regions to offer opportunities as well as experience the growth in the off-grid remote sensing power systems market.
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Off-grid Power Systems for Remote Sensing Market Key Segments:
The analysts at Maximize Market Research have done an extensive research for the Global Off-grid Power Systems for Remote Sensing Market and provides the report with detail study of the market by various segments and by region:
Global Off-grid Remote Sensing Power Systems Market by Technology Type
• Battery Backup
• Fuel Cells
Global Off-grid Remote Sensing Power Systems Market by End-Users
• Oil & Gas
• Weather Monitoring Stations
Global Off-grid Remote Sensing Power Systems Market by Region
• North America
• Asia Pacific
• Latin America
• Middle East & Africa (MEA)
Global Off-grid Power Systems for Remote Sensing Market Competitive Landscape & Key Players:
Detailed analysis of competition, new entrants, strategic alliances, mergers and acquisition in the Global Off-grid Power Systems for Remote Sensing Market is covered in the report. The report covers the market leaders and followers in the industry with the market dynamics by region. It will also help to understand the position of each player in the market by region, by segment with their expansion plans, R&D expenditure and organic & in-organic growth strategies. Long term association, strategic alliances, supply chain agreement and mergers & acquisition activities are covered in the report in detail. Expected alliances and agreement in forecast period will give future course of action in the market to the readers. All major & important players are profiled, benchmarked in the report on different parameters that will help reader to gain insight about the market in minimum time.
• Acumentrics Holding Corporation
• Tycon Systems Inc.
• UPS Systems Plc
• Timber Line Electric and Control Corporation
• SFC Energy AG
• Victron Energy B.V.
• HES Energy Systems Pte. Ltd.
• Ensol Systems Inc.
• Evergreen Energy Technologies Inc.
• Energy Solutions (UK) Ltd.
Objective of the Report:
The objective of the report is to present a comprehensive analysis of Global Off-grid Power Systems for Remote Sensing Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market are presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Off-grid Power Systems for Remote Sensing Market dynamics, structure by analyzing the market segments and project the Global Off-grid Power Systems for Remote Sensing Market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Off-grid Power Systems for Remote Sensing Market make the report investor’s guide.
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