Off-grid Power Systems for Remote Sensing Market anticipated to expand at 7.35% CAGR from 2016 to 2024

Transparency Market Research has released a new market report titled “Off-grid Power Systems for Remote Sensing Market – Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2016 – 2024.” According to this report, the global off-grid power systems for remote sensing market was valued at US$ 1,193.85 Mn in 2016 and is projected to reach US$ 2,105.95 Mn by 2024 at a CAGR of 7.35% from 2016 to 2024.

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The global off-grid power systems for remote sensing market is driven by the need for power surge protection through fuel cells and backup batteries coupled with the growing applications/adoption of LIDAR in the wind energy sector. Increasing investments in offshore wind energy plants will also create a demand for off-grid power systems for remote sensing. Major players of the industry focus on research and technology to develop a remote sensing product with highest accuracy. The end-user industries are dependent on the data provided by the remote sensing systems for proper operations. Hence, accuracy of remote sensing systems will play an important role in the growth of the off-grid power systems for remote sensing market.

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Other technologies considered in off-grid power systems for remote sensing market include solar PV and hybrid technology. Solar PV can be used as a source of power for UAVs (Unmanned Aerial Vehicles) in remote sensing, usually for large-sized platforms with long flying missions. Solar cells combined with Li Po (Lithium Ion Polymer) and Li S (Lithium Ion Sulfide) batteries constitute a day/night power solution for several days of flight which is a hybrid technology of solar cells and battery backup.

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Key players in the global off-grid power systems for remote sensing market include 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., and Energy Solutions (UK) Ltd. The report provides an overview of these companies, followed by their financial revenues (on availability), business strategies, SWOT analysis, and recent developments.

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