Off-Grid Remote Sensing Power Systems Revenue Will Reach $1.5 Billion Annually by 2020, Forecasts Na
Off-Grid Remote Sensing Power Systems Revenue Will Reach $1.5 Billion Annually by 2020, Forecasts Navigant Research
BOULDER, Colo.--(BUSINESS WIRE)-- Remote sensing systems, often powered by fuel cells, represent a sleeper market for small and low-wattage renewable and alternative energy systems. Such systems are used in many applications, including wind power stations, earthquake and tsunami monitoring sites, and weather stations, but their primary end-use is in the oil and gas industry. According to a recent report from Navigant Research, annual worldwide revenue from remote sensing power systems will grow from $923 million in 2013 to more than $1.5 billion in 2020.
"The market for gathering data for the proactive measurement of facilities such as dams, flood warning systems, oil wells, wind and large-scale solar farms is rapidly increasing," said Kerry-Ann Adamson, research director with Navigant Research. "Driven by the oil and gas industry, this market is growing at a particularly strong pace in Africa and the Middle East. However, due to the support of government agencies in the United States and their growing number of weatherization programs, North America will continue to lead in terms of the regional deployment of remote sensing systems."
The technologies underlying these remote sensing systems include light detection and ranging (LIDAR) for wind power stations and supervisory control and data acquisition (SCADA) systems for the oil and gas industry, as well as remote monitoring using telemetry for environmental applications. Primarily used in very remote locations, these systems are increasingly required to be self-contained, in terms of power and performance, for many months at a time. The goal, according to the report, is to allow site autonomy of one year or more.
The report, "Off-Grid Power for Remote Sensing Applications", examines the market for remote sensing systems using renewable or alternative energy, focusing on remote sensing, LIDAR, and SCADA systems. Market drivers and barriers for the use of renewable or alternative energy systems are detailed, along with specific factors at work in the oil and gas industry. Market forecasts for unit shipments and for revenues, segmented by application, are provided through 2020. The report also includes profiles of key industry players. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team's research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Utilities, Smart Transportation, Smart Industry, and Smart Buildings sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant (NYS: NCI) is a specialized, global expert services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals combine technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism in the highly regulated Construction, Energy, Financial Services and Healthcare industries to support clients in addressing their most critical business needs. More information about Navigant can be found at www.navigant.com.
* The information contained in this press release concerning the report, "Off-Grid Power for Remote Sensing Applications," is a summary and reflects Navigant Research's current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report's conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.
KEYWORDS: United States North America Colorado
The article Off-Grid Remote Sensing Power Systems Revenue Will Reach $1.5 Billion Annually by 2020, Forecasts Navigant Research originally appeared on Fool.com.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.