Off-Grid Remote Sensing Power System Market Analysis

The Off-Grid Remote Sensing Power System Market size is projected to reach a valuation of USD 2,101.9 million by 2027 at ~7% CAGR between 2021 and 2027.

Several Factors Contributing to Market Growth

In recent years, it has become critical to estimate electricity consumption using remote sensing data in order to support the low-cost electricity model. This data is acquired by various off-grid remote sensing components, such as batteries and fuel cells, which serve as the primary sources for off-grid systems. These components allow remote sensing data to be collected without being present at a physical location. Remote sensing power systems are also used in various monitoring systems like supervisory control and data acquisition systems and light detection and ranging systems. End-users interested in off-grid power solutions for remote sensing include wind energy and oil and gas. The growing infrastructure of the oil gas and wind energy industries is pushing the demand for remote sensing components in off-grid power systems.

The growing demand for energy efficiency and the changing energy landscape are the primary factors driving the growth of the worldwide off-grid remote sensing power system market. The grids established a few decades ago are still in use and require a transformation to meet the increased demand for reliable electricity. As a result, utilities are concentrating on improving power grid efficiency through the integration of renewable energy and the use of advanced information and communication technologies, such as off-grid remote sensing power systems.

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Impact of COVID-19 on the Global Market 

An off-grid remote sensing power system is an essential component of the overall off-grid power distribution network. Nevertheless, the demand for off-grid remote sensing power systems has been significantly impacted by the COVID-19 impact, negatively influencing the off-grid network and resulting in increased complexities. Furthermore, end-users of remote sensing power systems, such as the oil and gas and wind sectors, saw a sharp drop in demand as a result of global lockdowns. The impact of COVID-19, for example, and the oil price war proved to be a two-pronged catastrophe for oil and gas companies. Oil prices fell as a result of failed production-cut agreements and travel limitations imposed by the global pandemic. Furthermore, the wind energy industry had an early slowdown in terms of project delays, but the first lockdown was the most stringent and occurred in the spring. As a result, demand for remote sensing devices fluctuated throughout the COVID-19 pandemic.

Market Segmentation

The worldwide off-grid remote sensing power system industry has been segmented based on technology type and end use. 

Based on technology type, the worldwide off-grid remote sensing power system market has been divided into battery backup and fuel cells. 

Based on end use, the global off-grid remote sensing power system market has been divided into oil gas, wind, and weather monitoring stations. 

Regional Analysis

North America to Dominate the Global Market

Due to the region's expanding off-grid oil and gas production, North America has the highest share of the off-grid remote sensing power system market. The market for off-grid remote sensing power systems in North America is predicted to expand rapidly. For instance, the US power system has more than 50 GW of behind-the-meter flexible resources at its disposal, which is consist distributed energy resources (DERs) that have already enlisted in demand response programs. All of these factors are expected to fuel demand for off-grid remote sensing power systems in the region, as grid complexity leads to increased installation of off-grid remote sensing power systems. Furthermore, many key manufacturers are concentrating on innovation in order to introduce new products that will expand their range of off-grid remote sensing power systems.

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Key Players

The key players operating in the worldwide off-grid remote sensing power system market are Acumentrics (US), HES Infra Pvt Ltd (India), Energy Solutions (UK) Ltd (UK), Solar Energy Company (India), Ensol System (Canada), SFC Energy AG (Germany), Timber Line Electric and Control Corp. (US), Tycon Systems Inc. (US), UPS Systems Plc. (UK), and Victron Energy B.V. (Netherlands)