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Digital Power Meters - Global Strategic Business Report

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    Report

  • 223 Pages
  • October 2024
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 5029969
The global market for Digital Power Meters was estimated at US$14.0 Billion in 2023 and is projected to reach US$19.6 Billion by 2030, growing at a CAGR of 4.9% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.

Global Digital Power Meters Market - Key Trends and Drivers Summarized

What Are Digital Power Meters and How Do They Enhance Energy Management?

Digital power meters are advanced devices designed to measure and monitor electrical power consumption and quality with high accuracy. Unlike traditional analog meters, digital meters provide detailed insights into power usage patterns, power quality, and efficiency in real-time, enabling both consumers and utilities to manage energy resources more effectively. These meters can detect precise consumption data at different times of the day, which is pivotal for implementing dynamic pricing models based on peak and non-peak periods. Furthermore, the integration of digital power meters with home automation systems and smart grids allows for the automated management of energy usage, helping to reduce costs and improve energy efficiency. This technology is critical in the context of growing environmental concerns and the push towards more sustainable energy practices.

How Are Innovations in Technology Transforming Digital Power Meter Capabilities?

Technological advancements have significantly bolstered the functionality of digital power meters. The incorporation of IoT technology allows these meters to be connected to the internet, enabling remote monitoring and control. This connectivity not only facilitates the seamless collection and transmission of data to utility providers and consumers but also enhances the ability to perform remote diagnostics and updates without the need for on-site visits. Additionally, advancements in data analytics and machine learning enable the analysis of big data collected by digital power meters, allowing for predictive maintenance, load forecasting, and enhanced decision-making about energy distribution and consumption. These technological enhancements not only streamline operations but also contribute to the overall reliability and sustainability of power management systems.

What Impact Does the Adoption of Digital Power Meters Have on Consumers and Industries?

The widespread adoption of digital power meters impacts a broad spectrum of stakeholders, from residential consumers to large industrial facilities. For residential users, digital power meters offer a way to track energy usage in real-time, encouraging more conscious consumption and energy savings. They also facilitate billing accuracy and eliminate the need for manual meter readings, enhancing convenience for both consumers and utility companies. On an industrial scale, digital meters enable complex energy management and operational efficiency optimizations, critical for maintaining competitiveness in energy-intensive industries. Moreover, in the context of renewable energy integration, digital power meters play a vital role in monitoring the energy generated from renewable sources, thereby supporting the transition to greener energy solutions.

What Drives the Growth in the Digital Power Meters Market?

The growth in the digital power meters market is driven by several factors, including increased awareness about energy conservation, regulatory policies promoting energy efficiency, and advancements in smart grid technology. Governments worldwide are implementing regulations and incentives to encourage the adoption of smart metering solutions to enhance energy efficiency and reduce carbon footprints. This regulatory push, combined with the declining cost of digital metering technology and growing consumer demand for devices that help manage and reduce energy costs, significantly contributes to the expansion of the market. Additionally, the global shift towards sustainable energy sources and the need for compatible metering technology to facilitate this transition are further accelerating the deployment of digital power meters. These dynamics illustrate a robust demand for digital metering solutions, underpinned by technological, regulatory, and environmental factors, ensuring sustained growth in this vital industry sector.

Key Insights:

  • Market Growth: Understand the significant growth trajectory of the Residential End-Use segment, which is expected to reach US$16.0 Billion by 2030 with a CAGR of a 5.0%. The Commercial End-Use segment is also set to grow at 5.4% CAGR over the analysis period.
  • Regional Analysis: Gain insights into the U.S. market, estimated at $3.8 Billion in 2023, and China, forecasted to grow at an impressive 4.5% CAGR to reach $3.1 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Why You Should Buy This Report:

  • Detailed Market Analysis: Access a thorough analysis of the Global Digital Power Meters Market, covering all major geographic regions and market segments.
  • Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
  • Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Digital Power Meters Market.
  • Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.

Key Questions Answered:

  • How is the Global Digital Power Meters Market expected to evolve by 2030?
  • What are the main drivers and restraints affecting the market?
  • Which market segments will grow the most over the forecast period?
  • How will market shares for different regions and segments change by 2030?
  • Who are the leading players in the market, and what are their prospects?

Report Features:

  • Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
  • In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
  • Company Profiles: Coverage of major players such as Advanced Electronics Company, EKM Metering Inc., Elster Group GmbH, and more.
  • Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Select Competitors (Total 46 Featured):

  • Advanced Electronics Company
  • EKM Metering Inc.
  • Elster Group GmbH
  • Holley Metering, Ltd.
  • Itron, Inc.
  • Jiangsu Linyang Energy Co., Ltd.
  • Jiaxing Eastron Electronic Instruments Co., Ltd.
  • Kamstrup A/S
  • Landis+Gyr AG
  • Murata Power Solutions
  • Schneider Electric SA
  • Sensus
  • Simpson Electric

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Influencer Market Insights
  • Digital Power Meters - Global Key Competitors Percentage Market Share in 2024 (E)
  • Global Economic Update
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • Expanding Smart Grid Initiatives Drive Demand for Digital Power Meters
  • Growing Focus on Energy Efficiency Strengthens Business Case for Digital Power Meters
  • Government Regulations on Energy Conservation Set the Stage for Market Expansion
  • Increasing Deployment of Smart Meters in Residential Sector Expands Addressable Market
  • Growing Investments in Smart Cities Generate Demand for Digital Power Meters
  • Expanding Industrial Automation Throws Spotlight on Digital Power Meters
  • Adoption of Digital Power Meters in Electric Vehicle Charging Infrastructure Strengthens Market Growth
  • Rising Adoption of AMI (Advanced Metering Infrastructure) Drives Market for Digital Power Meters
  • Expansion of Distributed Energy Resources (DERs) Drives Growth in Digital Power Meters Market
4. GLOBAL MARKET PERSPECTIVE
  • TABLE 1: World Recent Past, Current & Future Analysis for Digital Power Meters by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • TABLE 2: World Historic Review for Digital Power Meters by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • TABLE 3: World 16-Year Perspective for Digital Power Meters by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets for Years 2014, 2024 & 2030
  • TABLE 4: World Recent Past, Current & Future Analysis for Residential by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • TABLE 5: World Historic Review for Residential by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • TABLE 6: World 16-Year Perspective for Residential by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2024 & 2030
  • TABLE 7: World Recent Past, Current & Future Analysis for Commercial by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • TABLE 8: World Historic Review for Commercial by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • TABLE 9: World 16-Year Perspective for Commercial by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2024 & 2030
  • TABLE 10: World Recent Past, Current & Future Analysis for Industrial by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • TABLE 11: World Historic Review for Industrial by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • TABLE 12: World 16-Year Perspective for Industrial by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2024 & 2030
  • TABLE 13: World Digital Power Meters Market Analysis of Annual Sales in US$ Million for Years 2014 through 2030
III. MARKET ANALYSIS
UNITED STATES
  • Digital Power Meters Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2024 (E)
  • TABLE 14: USA Recent Past, Current & Future Analysis for Digital Power Meters by End-Use - Residential, Commercial and Industrial - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
  • TABLE 15: USA Historic Review for Digital Power Meters by End-Use - Residential, Commercial and Industrial Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • TABLE 16: USA 16-Year Perspective for Digital Power Meters by End-Use - Percentage Breakdown of Value Sales for Residential, Commercial and Industrial for the Years 2014, 2024 & 2030
CANADA
  • TABLE 17: Canada Recent Past, Current & Future Analysis for Digital Power Meters by End-Use - Residential, Commercial and Industrial - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
  • TABLE 18: Canada Historic Review for Digital Power Meters by End-Use - Residential, Commercial and Industrial Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • TABLE 19: Canada 16-Year Perspective for Digital Power Meters by End-Use - Percentage Breakdown of Value Sales for Residential, Commercial and Industrial for the Years 2014, 2024 & 2030
JAPAN
  • Digital Power Meters Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2024 (E)
  • TABLE 20: Japan Recent Past, Current & Future Analysis for Digital Power Meters by End-Use - Residential, Commercial and Industrial - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
  • TABLE 21: Japan Historic Review for Digital Power Meters by End-Use - Residential, Commercial and Industrial Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • TABLE 22: Japan 16-Year Perspective for Digital Power Meters by End-Use - Percentage Breakdown of Value Sales for Residential, Commercial and Industrial for the Years 2014, 2024 & 2030
CHINA
  • Digital Power Meters Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2024 (E)
  • TABLE 23: China Recent Past, Current & Future Analysis for Digital Power Meters by End-Use - Residential, Commercial and Industrial - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
  • TABLE 24: China Historic Review for Digital Power Meters by End-Use - Residential, Commercial and Industrial Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • TABLE 25: China 16-Year Perspective for Digital Power Meters by End-Use - Percentage Breakdown of Value Sales for Residential, Commercial and Industrial for the Years 2014, 2024 & 2030
EUROPE
  • Digital Power Meters Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2024 (E)
  • TABLE 26: Europe Recent Past, Current & Future Analysis for Digital Power Meters by Geographic Region - France, Germany, Italy, UK and Rest of Europe Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • TABLE 27: Europe Historic Review for Digital Power Meters by Geographic Region - France, Germany, Italy, UK and Rest of Europe Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • TABLE 28: Europe 16-Year Perspective for Digital Power Meters by Geographic Region - Percentage Breakdown of Value Sales for France, Germany, Italy, UK and Rest of Europe Markets for Years 2014, 2024 & 2030
  • TABLE 29: Europe Recent Past, Current & Future Analysis for Digital Power Meters by End-Use - Residential, Commercial and Industrial - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
  • TABLE 30: Europe Historic Review for Digital Power Meters by End-Use - Residential, Commercial and Industrial Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • TABLE 31: Europe 16-Year Perspective for Digital Power Meters by End-Use - Percentage Breakdown of Value Sales for Residential, Commercial and Industrial for the Years 2014, 2024 & 2030
FRANCE
  • Digital Power Meters Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2024 (E)
  • TABLE 32: France Recent Past, Current & Future Analysis for Digital Power Meters by End-Use - Residential, Commercial and Industrial - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
  • TABLE 33: France Historic Review for Digital Power Meters by End-Use - Residential, Commercial and Industrial Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • TABLE 34: France 16-Year Perspective for Digital Power Meters by End-Use - Percentage Breakdown of Value Sales for Residential, Commercial and Industrial for the Years 2014, 2024 & 2030
GERMANY
  • Digital Power Meters Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2024 (E)
  • TABLE 35: Germany Recent Past, Current & Future Analysis for Digital Power Meters by End-Use - Residential, Commercial and Industrial - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
  • TABLE 36: Germany Historic Review for Digital Power Meters by End-Use - Residential, Commercial and Industrial Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • TABLE 37: Germany 16-Year Perspective for Digital Power Meters by End-Use - Percentage Breakdown of Value Sales for Residential, Commercial and Industrial for the Years 2014, 2024 & 2030
ITALY
  • TABLE 38: Italy Recent Past, Current & Future Analysis for Digital Power Meters by End-Use - Residential, Commercial and Industrial - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
  • TABLE 39: Italy Historic Review for Digital Power Meters by End-Use - Residential, Commercial and Industrial Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • TABLE 40: Italy 16-Year Perspective for Digital Power Meters by End-Use - Percentage Breakdown of Value Sales for Residential, Commercial and Industrial for the Years 2014, 2024 & 2030
UNITED KINGDOM
  • Digital Power Meters Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2024 (E)
  • TABLE 41: UK Recent Past, Current & Future Analysis for Digital Power Meters by End-Use - Residential, Commercial and Industrial - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
  • TABLE 42: UK Historic Review for Digital Power Meters by End-Use - Residential, Commercial and Industrial Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • TABLE 43: UK 16-Year Perspective for Digital Power Meters by End-Use - Percentage Breakdown of Value Sales for Residential, Commercial and Industrial for the Years 2014, 2024 & 2030
REST OF EUROPE
  • TABLE 44: Rest of Europe Recent Past, Current & Future Analysis for Digital Power Meters by End-Use - Residential, Commercial and Industrial - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
  • TABLE 45: Rest of Europe Historic Review for Digital Power Meters by End-Use - Residential, Commercial and Industrial Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • TABLE 46: Rest of Europe 16-Year Perspective for Digital Power Meters by End-Use - Percentage Breakdown of Value Sales for Residential, Commercial and Industrial for the Years 2014, 2024 & 2030
ASIA-PACIFIC
  • Digital Power Meters Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2024 (E)
  • TABLE 47: Asia-Pacific Recent Past, Current & Future Analysis for Digital Power Meters by End-Use - Residential, Commercial and Industrial - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
  • TABLE 48: Asia-Pacific Historic Review for Digital Power Meters by End-Use - Residential, Commercial and Industrial Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • TABLE 49: Asia-Pacific 16-Year Perspective for Digital Power Meters by End-Use - Percentage Breakdown of Value Sales for Residential, Commercial and Industrial for the Years 2014, 2024 & 2030
REST OF WORLD
  • TABLE 50: Rest of World Recent Past, Current & Future Analysis for Digital Power Meters by End-Use - Residential, Commercial and Industrial - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
  • TABLE 51: Rest of World Historic Review for Digital Power Meters by End-Use - Residential, Commercial and Industrial Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • TABLE 52: Rest of World 16-Year Perspective for Digital Power Meters by End-Use - Percentage Breakdown of Value Sales for Residential, Commercial and Industrial for the Years 2014, 2024 & 2030
IV. COMPETITION

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Advanced Electronics Company
  • EKM Metering Inc.
  • Elster Group GmbH
  • Holley Metering, Ltd.
  • Itron, Inc.
  • Jiangsu Linyang Energy Co., Ltd.
  • Jiaxing Eastron Electronic Instruments Co., Ltd.
  • Kamstrup A/S
  • Landis+Gyr AG
  • Murata Power Solutions
  • Schneider Electric SA
  • Sensus
  • Simpson Electric

Table Information