Global Smart Electric Meter Market, By Type (Advanced Metering Infrastructure (AMI) and Automatic Meter Reading (AMR)), Phase (Single Phase and Three Phase), Communication Technology Type (Power Line Communication, Radio Frequency, Cellular and Others), End User (Residential, Commercial, Utility and Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
Market Analysis and Insights of Global Smart Electric Meter Market
Data Bridge Market Research analyses that the smart electric meter market would exhibit a CAGR of 5.83% for the forecast period. Rising demand for smart electric meter by the various end user verticals, increased focus on adoption of renewable energy and rapid increase in electric networks established in various regions are the major factors attributable to the growth of smart electric meter market. Therefore, the smart electric meter market value would climb up to USD 22.16 billion by 2028.
Electricity has become an indispensable part of everyday lives of people. The smart electric meters are the electronic devices that are used to keep a track of electricity consumption. This is done with the help of power line communication, radiofrequency electromagnetic radiation (RF), and cellular communication. Smart electric meters come along with a wide range of advantages such as preventing disconnection, reducing errors in billing, decreasing meter reading cost, and reducing re-connection costs.
Rapid demand for smart metering solutions coupled with supportive governmental policies would imply growth in the smart electric meter market value. Rising urbanization, growth and expansion of various end user verticals and growth in the number of smart cities construction projects in the developing economies will also create lucrative growth opportunities for the smart electric meter market in the long run. Growing focus on reducing the costs of energy consumption, rising focus towards sustainable development and increasing awareness among the people will also propel growth in the smart electric meter market demand. Increased focus on the renewable energy integration to smart grid infrastructure will also bolster the smart electric meter market growth rate in the upward direction. On-going industrialization coupled with economic development especially in the emerging economies will also propel growth in the demand for smart electric meters.
However, high levels of investments required for the integration and manufacturing of these meters will pose a major challenge to the smart electric meter market growth. Also, health concerns of these wireless connections will act as market restraint for this market. Also, end user-resistance factor will also dampen the smart electric meter market growth rate.
This smart electric meter market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on smart electric meter market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Smart Electric Meter Market Scope and Market Size
The smart electric meter market is segmented on the basis of type, phase, communication technology type and end user. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- Based on type, the smart electric meter market is segmented into advanced metering infrastructure (AMI) and automatic meter reading (AMR).
- Based on phase, the smart electric meter market is segmented into single phase and three phase.
- Based on communication technology type, the smart electric meter market is segmented into power line communication, radio frequency, cellular and others.
- On the basis of end user, the smart electric meter market is segmented into residential, commercial, utility and others. Residential segment is sub-segmented into single family and multifamily. Commercial segment is sub-segmented into education, healthcare, retail, logistics and transportation, offices, hospitality and others.
Global Smart Electric Meter Market Country Level Analysis
Global smart electric meter market is analysed and market size insights and trends are provided by country, type, phase, communication technology type and end user as referenced above.
The countries covered in the smart electric meter market report are the U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Asia-Pacific lions the smart electric meter market and will extend similar trend over the forecast period owing to the increased adoption of smart electric meters to minimize unaccounted electricity losses.
The country section of the smart electric meter market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and Smart Electric Meter Market Share Analysis
The smart electric meter market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to smart electric meter market.
The major players covered in the smart electric meter market report are SAGEMCOM, ABB, Schneider Electric, Siemens, Microchip Technology Inc., wasion group, Landis+Gyr., Itron Inc., Honeywell International Inc., Aclara Technologies LLC., Iskraemeco, d.d., LINYANG Energy, Genus, Networked Energy Services, Holley Technology UK Ltd., OSAKI ELECTRIC CO., LTD., Sensus, Trilliant Holdings Inc., Kamstrup and E.ON UK plc among other domestic and global players. Market share data is available for Global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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