Published Date : Sep 12, 2016
Albany, NY, Sep 12, 2016: The demand for energy is consistently increasing in many nations and this has increased the dependency on off-grid power systems. The amount of power that has been generated globally by on-grid power systems is insufficient to fulfill the global demand for power. Thus, this has boosted the demand for off-grid remote sensing power systems. Many remote sensing technologies including light detection and ranging, supervisory control and data acquisition, and remote monitoring systems are primarily powered by off-grid devices such as batteries, alternative energy, and fuel cells. Key players are focusing on upgrading their off-grid remote sensing power systems, states a new report added to the vast database of MarketResearchReports.biz.
The report, titled “Global Off-Grid Remote Sensing Power System Market 2016-2020,” states that the global market is predicted to exhibit a 10.16% CAGR during the period from 2016 to 2020. According to the findings of the report, the global market for off-grid remote sensing power systems is primarily benefited by the rising need to improve infrastructure in the oil and gas industry. Additionally, the consistent developments in the remote sensing industry are also expected to contribute towards the growing demand for off-grid remote sensing power systems. Although the market is poised for a smooth expansion, it is expected to be challenged by deferred investments and projects across various regions.
The growth in global wind power installations, the rising natural calamities, and LiDAR for accurate wind speed measurement are some of the factors that can be credited for the growing demand for off-grid remote sensing power systems. However, the market is expected to be challenged by various factors, which will restrict its growth throughout the forecast period. Few of the factors predicted to challenge the global market are the rising need for customization and the high cost of initial investment. Trends in the remote sensing industry are expected to change, which will benefit the market globally, predict the analysts.
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The global market for off-grid remote sensing power system market is segmented on the basis of end-users and geography. The demand for off-grid remote sensing power systems is increasing from various end-user industries including oil and gas, weather monitoring stations, and wind power. Based on geography, the global off-grid remote sensing power system market is divided into the Americas, APAC, and EMEA. The demand for off-grid remote sensing power systems in the EMEA region is expected to increase. With this, the EMEA region is predicted to maintain its dominance by 2020.
Acumentrics, Ensol Systems, HES, SFC Energy, Tycon Systems, Victron Energy, Evergreen Energy Technologies, Timber Line Electric and Control, and UPS Systems are some of the key organizations operating in the global off-grid remote sensing power system market.
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