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Smart Meter Market by Type (Electric Gas, and Water), Component, Technology (AMI & AMR), Communication (RF, PLC, and Cellular), End-user (Residential, Commercial, Industrial) and Region - Global Forecast to 2028

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    Report

  • 308 Pages
  • February 2023
  • Region: Global
  • Markets and Markets
  • ID: 5745255

The global smart meter market is estimated to grow from USD 23.1 Billion in 2023 to USD 36.3 Billion by 2028; it is expected to record a CAGR of 9.4% during the forecast period. Governments worldwide are undertaking several initiatives to meet future electricity demands and are focusing on reducing carbon footprint by promoting the use of renewable energy sources to produce energy. Smart meters will play a crucial role in achieving these initiatives.

 Software: The fastest segment of the smart meter market, by component 

Based on components, the smart meter market has been split into hardware and software. The customer information system (CIS), meter data management system (MDMS), and metering and billing software are critical software components of smart meters. The software helps manage the operations of smart meters once deployed by the utilities. Smart meter software aids in the detection of abnormal utility consumption patterns and the accurate billing of consumers.

AMI segment is expected to emerge as the largest segment based on technology

By technology, the smart meter market has been segmented into AMI & AMR. AMI enables the meters to collect and transmit data on utility and energy use in real time. The foundation of smart grid projects is smart meters employing AMI technology, and rising investment in such projects serves as a major growth driver for the market for AMI smart meters

Europe is expected to be the second-largest market during the forecast period

Europe is expected to be the second-largest market in the global smart meters in 2022 and is among the pioneers in adopting smart meters technology. Major western European countries such as France, Germany, Italy, Spain, and the UK are mature markets for smart meters. The European Union has already started the modernization and transformation toward a climate-neutral economy and plans to become the world’s first major economy to go climate neutral by 2050.

Breakdown of Primaries:

In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows: 

  • By Company Type: Tier 1- 45%, Tier 2- 30%and Tier 3- 25%
  • By Designation: C-Level- 35%, Directors - 25%, and Others- 40%
  • By Region: North America- 27%, Europe- 20%, Asia Pacific- 33%, the Middle East & Africa- 12%, and South America- 8% 

Note: Others include product engineers, product specialists, and engineering leads.

Note: The tiers of the companies are defined on the basis of their total revenues as of 2021. Tier 1: > USD 1 billion, Tier 2: From USD 500 million to USD 1 billion, and Tier 3: < USD 500 million

The smart meter market is dominated by a few major players that have a wide regional presence. The leading players in the smart meter market are Schneider Electric (France), Landis+Gyr (Switzerland), Itron (US), Siemens (Germany), Wasion Group (China), Badger Meter (US), and Sensus (Xylem) (US)

Research Coverage:

The report defines, describes, and forecasts the global smart meter market, by type, component, technology, communication, end user, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates, in terms of value, and future trends in the smart meter market.

Key Benefits of Buying the Report

1.    The report identifies and addresses the key markets for the smart meter market, which would help equipment manufacturers review the growth in demand.

2.    The report helps system providers understand the pulse of the market and provides insights into drivers, restraints, opportunities, and challenges. 

3.    The report will help key players understand the strategies of their competitors better and help them in making better strategic decisions.

Frequently Asked Questions about the Global Smart Meter Market

What is the estimated value of the Global Smart Meter Market?

The Global Smart Meter Market was estimated to be valued at $23.1 Billion in 2023.

What is the growth rate of the Global Smart Meter Market?

The growth rate of the Global Smart Meter Market is 9.4%, with an estimated value of $36.3 Billion by 2028.

What is the forecasted size of the Global Smart Meter Market?

The Global Smart Meter Market is estimated to be worth $36.3 Billion by 2028.

Who are the key companies in the Global Smart Meter Market?

Key companies in the Global Smart Meter Market include Aclara Technologies, Badger Meter, Inc., Genus Power Infrastructure, Hexing Electrical, Honeywell International, Iskraemeco, Itron, Inc., Jiangsu Linyang Electronics, Kamstrup A/S and Landis+Gyr.

Table of Contents

1 Introduction
1.1 Study Objectives
1.2 Market Definition
1.3 Inclusions and Exclusions
1.3.1 Smart Meter Market, by Type: Inclusions and Exclusions
1.3.2 Smart Meter Market, by Component: Inclusions and Exclusions
1.3.3 Smart Meter Market, by Communication: Inclusions and Exclusions
1.3.4 Smart Meter Market, by Technology: Inclusions and Exclusions
1.3.5 Smart Meter Market, by End-USer: Inclusions and Exclusions
1.4 Market Scope
1.4.1 Markets Covered
1.4.2 Regional Scope
1.4.3 Years Considered
1.5 Currency Considered
1.6 Limitations
1.7 Stakeholders
1.8 Summary of Changes

2 Research Methodology
2.1 Research Data
Figure 1 Smart Meter Market: Research Design
2.2 Market Breakdown and Data Triangulation
Figure 2 Data Triangulation
2.2.1 Secondary Data
2.2.1.1 Key Data from Secondary Sources
2.2.2 Primary Data
2.2.2.1 Key Insights from Primary Sources
2.2.2.2 Breakdown of Primaries
2.3 Scope
Figure 3 Main Metrics Considered to Analyze and Assess Demand for Smart Meters
2.4 Market Size Estimation
2.4.1 Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Bottom-Up Approach
2.4.2 Top-Down Approach
Figure 5 Market Size Estimation Methodology: Top-Down Approach
2.4.3 Demand-Side Analysis
2.4.3.1 Regional Analysis
2.4.3.2 Country-Level Analysis
2.4.3.3 Assumptions for Demand-Side Analysis
2.4.3.4 Calculations for Demand-Side Analysis
2.4.4 Supply-Side Analysis
Figure 6 Key Steps Considered to Assess Supply of Smart Meters
Figure 7 Smart Meter Market: Supply-Side Analysis
2.4.4.1 Calculations for Supply-Side Analysis
2.4.4.2 Assumptions for Supply-Side Analysis
Figure 8 Company Revenue Analysis, 2021
2.5 Forecast
2.6 Risk Assessment
2.7 Recession Impact

3 Executive Summary
Table 1 Snapshot of Smart Meter Market
Figure 9 Ami Segment to Hold Larger Share of Smart Meter Market During Forecast Period
Figure 10 Smart Electric Meter Segment to Lead Smart Meter Market During Forecast Period
Figure 11 Cellular Segment to Lead Smart Meter Market During Forecast Period
Figure 12 Hardware Segment to Hold Larger Share of Smart Meter Market During Forecast Period
Figure 13 Residential Segment to Lead Smart Meter Market During Forecast Period
Figure 14 Asia-Pacific Accounted for the Largest Share of Smart Meter Market in 2022

4 Premium Insights
4.1 Attractive Opportunities for Players in Smart Meter Market
Figure 15 Growing Need to Improve Reliability of Grid Infrastructures and Reduce Water Losses
4.2 Asia-Pacific Smart Meter Market, by End-USer and Country
Figure 16 Residential Segment and China Held Largest Shares of Asia-Pacific Smart Meter Market in 2022
4.3 Smart Meter Market, by Type
Figure 17 Smart Electric Meter Segment to Account for Largest Market Share in 2028
4.4 Smart Meter Market, by End-USer
Figure 18 Residential Segment to Hold Largest Market Share in 2028
4.5 Smart Meter Market, by Technology
Figure 19 Ami Segment to Lead Smart Meter Market in 2028
4.6 Smart Meter Market, by Component
Figure 20 Hardware Segment to Hold Larger Share of Smart Meter Market in 2028
4.7 Smart Meter Market, by Communication
Figure 21 Cellular Segment to Dominate Smart Meter Market in 2028

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
Figure 22 Smart Meter Market: Drivers, Restraints, Opportunities, and Challenges
5.2.1 Drivers
5.2.1.1 Supportive Government Regulations Pertaining to Digitalization of Grids
Figure 23 Investment Share Percentage of Digital Grid Infrastructure in Global Electricity Investment, 2014-2019
5.2.1.2 Rising Adoption of Smart Meters to Monitor Utility Systems in Real Time
5.2.1.3 Dynamic Pricing of Utilities
5.2.1.4 Reduced Blackouts and Failures of Utility Systems
5.2.1.5 Increased Need to Monitor Energy Consumption to Achieve Carbon Neutrality
5.2.2 Restraints
5.2.2.1 High Setup and Operational Costs and Limited Availability of Low-Cost Digital Upgrades
5.2.2.2 Decline in Infrastructure Development Investments and Low Return on Investment
5.2.3 Opportunities
5.2.3.1 Focus of Governments Worldwide on Reducing Aggregate Technical and Commercial Losses
Figure 24 Global Investments in Smart Grid Infrastructure, 2014-2019
5.2.3.2 Integration of Artificial Intelligence (Ai) and Machine Learning (Ml) Technologies into Smart Meters
5.2.3.3 Rising Adoption of Electric and Hybrid Vehicles
Figure 25 Global Electric Vehicle (Ev) Stocks, 2016-2020 (Million Units)
5.2.3.4 Increasing Focus of Developing Countries on Improving Water Distribution Networks
Table 2 Water and Wastewater Treatment Projects in India
5.2.4 Challenges
5.2.4.1 Maintenance, Security, and Integrity of Smart Meters and Associated Data and Requirement for Skilled Professionals
5.2.4.2 Dependency on Reliable Connections Between Smart Meters and Smart Grid Devices to Collect Highly Accurate Data
5.3 Trends/Disruptions Impacting Customers’ Businesses
5.3.1 Revenue Shift and New Revenue Pockets for Smart Meter Providers
Figure 26 Revenue Shift for Smart Meter Providers
5.4 Market Map
Table 3 Smart Meter Market: Ecosystem Analysis
Figure 27 Market Map/Ecosystem Analysis
5.5 Value/Supply Chain Analysis
Figure 28 Smart Meter Market: Value Chain Analysis
5.5.1 Raw Material/Component Providers
5.5.2 Smart Meter Manufacturers
5.5.3 Distributors and After-Sales Service Providers
5.5.4 End-USers
5.6 Average Selling Price (ASP) Analysis
Figure 29 Average Selling Price of Products Offered Key Players, by Type
Table 4 Average Selling Price of Products Offered by Key Players, by Type (USD)
5.7 Technology Analysis
5.7.1 Smart Meter Market Based on Different Technologies
5.8 Tariffs, Codes, and Regulations
5.8.1 Tariffs Related to Smart Meter Market
5.8.2 Codes and Regulations Related to Smart Meter Market
Table 5 Smart Meter Market: Codes and Regulations
5.8.3 Regulatory Bodies, Government Agencies, and Other Organizations
Table 6 Global: List of Regulatory Bodies, Government Agencies, and Other Organizations
Table 7 North America: List of Regulatory Bodies, Government Agencies, and Other Organizations
Table 8 Europe: List of Regulatory Bodies, Government Agencies, and Other Organizations
Table 9 Asia-Pacific: List of Regulatory Bodies, Government Agencies, and Other Organizations
Table 10 RoW: List of Regulatory Bodies, Government Agencies, and Other Organizations
5.9 Patent Analysis
Table 11 Smart Meter Market: Innovation and Patent Registration
5.10 Trade Analysis
5.10.1 Export Scenario
Table 12 Export Scenario for Hs Code: 9028, by Country, 2019-2021 (USD Thousand)
5.10.2 Import Scenario
Table 13 Import Scenario for Hs Code: 9028, by Country, 2019-2021 (USD Thousand)
5.11 Key Conferences and Events, 2022-2023
Table 14 Smart Meter Market: List of Conferences and Events
5.12 Case Study Analysis
5.12.1 Smart Water System Helped City of Monroe to Identify Individual Leaking Houses After Winter Storms
5.12.2 Smart Metering Helped Turn Budget Deficit Utility Company into Budget Plus Company
5.12.3 Kamstrup Helped Rural Municipality in Oneida, Tennessee, Reverse Water Loss
5.13 Porter's Five Forces Analysis
Table 15 Smart Meter Market: Porter's Five Forces Analysis
Figure 30 Smart Meter Market: Porter's Five Forces Analysis
5.13.1 Threat of Substitutes
5.13.2 Bargaining Power of Suppliers
5.13.3 Bargaining Power of Buyers
5.13.4 Threat of New Entrants
5.13.5 Intensity of Competitive Rivalry
5.14 Key Stakeholders and Buying Criteria
5.14.1 Key Stakeholders in Buying Process
Figure 31 Influence of Stakeholders on Buying Process, by End-USer
Table 16 Influence of Stakeholders on Buying Process, by End-USer (%)
5.14.2 Buying Criteria
Figure 32 Key Buying Criteria for End-USers
Table 17 Key Buying Criteria, by End-USer

6 Smart Meter Market, by Type
6.1 Introduction
Figure 33 Smart Meter Market Share, by Type, 2022 (%)
Table 18 Smart Meter Market, by Type, 2021-2028 (USD Million)
6.2 Smart Electric Meter
6.2.1 Rising Need to Improve Reliability of Power Infrastructure
Table 19 Smart Electric Meter: Smart Meter Market, by Region, 2021-2028 (USD Million)
6.3 Smart Gas Meter
6.3.1 Growing Need to Reduce Gas Consumption
Table 20 Smart Gas Meter: Smart Meter Market, by Region, 2021-2028 (USD Million)
6.4 Smart Water Meter
6.4.1 Increasing Need to Reduce Non-Revenue Water Losses
Table 21 Smart Water Meter: Smart Meter Market, by Region, 2021-2028 (USD Million)

7 Smart Meter Market, by Component
7.1 Introduction
Figure 34 Smart Meter Market, by Component, 2022
Table 22 Smart Meter Market, by End-User, 2021-2028 (USD Million)
7.2 Hardware
Table 23 Hardware: Smart Meter Market, by Region, 2021-2028 (USD Million)
Table 24 Hardware: Smart Meter Market, by Type, 2021-2028 (USD Million)
7.2.1 Power System
7.2.1.1 Power Systems Ensure That Metering Electronics Remain Operational Even When Mainline is Turned Off
7.2.2 Microcontroller
7.2.2.1 Integration of Ai or IoT with Microcontrollers Makes Them Consumer-Friendly
7.2.3 Communication Interface
7.2.3.1 Communication Interface Communicates Data from Utilities to Consumers
7.3 Software
Table 25 Software: Smart Meter Market, by Region, 2021-2028 (USD Million)
Table 26 Software: Smart Meter Market, by Type, 2021-2028 (USD Million)
7.3.1 Customer Information System (Cis)
7.3.1.1 Improves Communication Between Consumers and Service Providers
7.3.2 Meter Data Management System (Mdms)
7.3.2.1 Enables Large Data Management with Multiple Users
7.3.3 Metering and Billing Software
7.3.3.1 Increases Billing Transparency

8 Smart Meter Market, by Technology
8.1 Introduction
Figure 35 Ami Segment Accounted for Larger Market Share in 2022
Table 27 Smart Meter Market, by Technology, 2021-2028 (USD Million)
8.2 Automatic Meter Reading (Amr)
8.2.1 Automatic Meter Reading (Amr) Helps Reduce Manual Intervention for Data Collection
Table 28 Amr: Smart Meter Market, by Region, 2021-2028 (USD Million)
8.3 Advanced Metering Infrastructure (Ami)
8.3.1 Advanced Metering Infrastructure (Ami) Increases Reliability of Smart Meter Infrastructure
Table 29 Ami: Smart Meter Market, by Region, 2021-2028 (USD Million)

9 Smart Meter Market, by Communication
9.1 Introduction
Figure 36 Smart Meter Market, by Communication, 2022
Table 30 Smart Meter Market, by Communication, 2021-2028 (USD Million)
9.2 Radiofrequency (Rf)
9.2.1 Low Maintenance Cost
Table 31 Rf: Smart Meter Market, by Region, 2021-2028 (USD Million)
9.3 Power Line Communication (Plc)
9.3.1 Excellent Communication in Hard-To-Reach Regions
Table 32 plc: Smart Meter Market, by Region, 2021-2028 (USD Million)
9.4 Cellular
9.4.1 Cost-Effectiveness and Fast Data Transmission Rate
Table 33 Cellular: Smart Meter Market, by Region, 2021-2028 (USD Million)

10 Smart Meter Market, by End-User
10.1 Introduction
Figure 37 Smart Meter Market, by End-USer, 2022
Table 34 Smart Meter Market, by End-USer, 2021-2028 (USD Million)
10.2 Residential
10.2.1 Improved Billing Accuracy and Benefits in Real-Time Monitoring
Table 35 Residential: Smart Meter Market, by Region, 2021-2028 (USD Million)
10.3 Commercial
10.3.1 Improved Energy Efficiency and Remote Management of Energy Consumption
Table 36 Commercial: Smart Meter Market, by Region, 2021-2028 (USD Million)
10.4 Industrial
10.4.1 Rising Need to Improve Energy Efficiency and Comply with Standards and Regulations
Table 37 Industrial: Smart Meter Market, by Region, 2021-2028 (USD Million)

11 Smart Meter Market, by Region
11.1 Introduction
Figure 38 Asia-Pacific Smart Meter Market to Register Highest CAGR from 2023 to 2028
Figure 39 Smart Meter Market, by Region, 2022 (%)
Table 38 Smart Meter Market, by Region, 2021-2028 (USD Million)
Table 39 Smart Meter Market, by Region, 2021-2028 (Million Units)
11.2 Asia-Pacific
Figure 40 Asia-Pacific: Snapshot of Smart Meter Market
11.2.1 Recession Impact: Asia-Pacific
11.2.2 By Type
Table 40 Asia-Pacific: Smart Meter Market, by Type, 2021-2028 (USD Million)
11.2.3 By Communication
Table 41 Asia-Pacific: Smart Meter Market, by Communication, 2021-2028 (USD Million)
11.2.4 By Component
Table 42 Asia-Pacific: Smart Meter Market, by Component, 2021-2028 (USD Million)
Table 43 Asia-Pacific: Smart Meter Market for Software, by Type, 2021-2028 (USD Million)
Table 44 Asia-Pacific: Smart Meter Market for Hardware, by Type, 2021-2028 (USD Million)
11.2.5 By Technology
Table 45 Asia-Pacific: Smart Meter Market, by Technology, 2021-2028 (USD Million)
11.2.6 By End-USer
Table 46 Asia-Pacific: Smart Meter Market, by End-USer, 2021-2028 (USD Million)
11.2.7 By Country
Table 47 Asia-Pacific: Smart Meter Market, by Country, 2021-2028 (USD Million)
11.2.7.1 China
11.2.7.1.1 Energy Transition and Shift Toward Smart Electrification
Table 48 China: Smart Meter Market, by Type, 2021-2028 (USD Million)
Table 49 China: Smart Meter Market, by Communication, 2021-2028 (USD Million)
Table 50 China: Smart Meter Market, by Component, 2021-2028 (USD Million)
Table 51 China: Smart Meter Market, by Technology, 2021-2028 (USD Million)
Table 52 China: Smart Meter Market, by End-USer, 2021-2028 (USD Million)
11.2.7.2 Australia
11.2.7.2.1 Government-Led Targets on Net Zero and Renewable Energy Installations
Table 53 Australia: Smart Meter Market, by Type, 2021-2028 (USD Million)
Table 54 Australia: Smart Meter Market, by Communication, 2021-2028 (USD Million)
Table 55 Australia: Smart Meter Market, by Component, 2021-2028 (USD Million)
Table 56 Australia: Smart Meter Market, by Technology, 2021-2028 (USD Million)
Table 57 Australia: Smart Meter Market, by End-USer, 2021-2028 (USD Million)
11.2.7.3 Japan
11.2.7.3.1 Rising Focus on Improving Power Quality in Electricity Infrastructure
Table 58 Japan: Smart Meter Market, by Type, 2021-2028 (USD Million)
Table 59 Japan: Smart Meter Market, by Communication, 2021-2028 (USD Million)
Table 60 Japan: Smart Meter Market, by Component, 2021-2028 (USD Million)
Table 61 Japan: Smart Meter Market, by Technology, 2021-2028 (USD Million)
Table 62 Japan: Smart Meter Market, by End-USer, 2021-2028 (USD Million)
11.2.7.4 India
11.2.7.4.1 Supportive Government Policies
Table 63 India: Smart Meter Market, by Type, 2021-2028 (USD Million)
Table 64 India: Smart Meter Market, by Communication, 2021-2028 (USD Million)
Table 65 India: Smart Meter Market, by Component, 2021-2028 (USD Million)
Table 66 India: Smart Meter Market, by Technology, 2021-2028 (USD Million)
Table 67 India: Smart Meter Market, by End-USer, 2021-2028 (USD Million)
11.2.7.5 South Korea
11.2.7.5.1 Rising Focus on Increasing Share of Renewable Energy Supply in Power Generation
Table 68 South Korea: Smart Meter Market, by Type, 2021-2028 (USD Million)
Table 69 South Korea: Smart Meter Market, by Communication, 2021-2028 (USD Million)
Table 70 South Korea: Smart Meter Market, by Component, 2021-2028 (USD Million)
Table 71 South Korea: Smart Meter Market, by Technology, 2021-2028 (USD Million)
Table 72 South Korea: Smart Meter Market, by End-USer, 2021-2028 (USD Million)
11.2.7.6 Rest of Asia-Pacific
Table 73 Rest of Asia-Pacific: Smart Meter Market, by Type, 2021-2028 (USD Million)
Table 74 Rest of Asia-Pacific: Smart Meter Market, by Communication, 2021-2028 (USD Million)
Table 75 Rest of Asia-Pacific: Smart Meter Market, by Component, 2021-2028 (USD Million)
Table 76 Rest of Asia-Pacific: Smart Meter Market, by Technology, 2021-2028 (USD Million)
Table 77 Rest of Asia-Pacific: Smart Meter Market, by End-USer, 2021-2028 (USD Million)
11.3 Europe
Figure 41 Europe: Snapshot of Smart Meter Market
11.3.1 Recession Impact: Europe
11.3.2 By Type
Table 78 Europe: Smart Meter Market, by Type, 2021-2028 (USD Million)
11.3.3 By Communication
Table 79 Europe: Smart Meter Market, by Communication, 2021-2028 (USD Million)
11.3.4 By Component
Table 80 Europe: Smart Meter Market, by Component, 2021-2028 (USD Million)
Table 81 Europe: Smart Meter Market for Software, by Type, 2021-2028 (USD Million)
Table 82 Europe: Smart Meter Market for Hardware, by Type, 2021-2028 (USD Million)
11.3.5 By Technology
Table 83 Europe: Smart Meter Market, by Technology, 2021-2028 (USD Million)
11.3.6 By End-USer
Table 84 Europe: Smart Meter Market, by End-USer, 2021-2028 (USD Million)
11.3.7 By Country
Table 85 Europe: Smart Meter Market, by Country, 2021-2028 (USD Million)
11.3.7.1 UK
11.3.7.1.1 Supportive Government Policies Related to Smart Meter Market
Table 86 UK: Smart Meter Market, by Type, 2021-2028 (USD Million)
Table 87 UK: Smart Meter Market, by Communication, 2021-2028 (USD Million)
Table 88 UK: Smart Meter Market, by Component, 2021-2028 (USD Million)
Table 89 UK: Smart Meter Market, by Technology, 2021-2028 (USD Million)
Table 90 UK: Smart Meter Market, by End-USer, 2021-2028 (USD Million)
11.3.7.2 Germany
11.3.7.2.1 Rising Requirement for Smart Meters to Improve Reliability of Power Infrastructures
Table 91 Germany: Smart Meter Market, by Type, 2021-2028 (USD Million)
Table 92 Germany: Smart Meter Market, by Communication, 2021-2028 (USD Million)
Table 93 Germany: Smart Meter Market, by Component, 2021-2028 (USD Million)
Table 94 Germany: Smart Meter Market, by Technology, 2021-2028 (USD Million)
Table 95 Germany: Smart Meter Market, by End-USer, 2021-2028 (USD Million)
11.3.7.3 France
11.3.7.3.1 Supportive Government Regulations to Build Efficient Power Infrastructure
Table 96 France: Smart Meter Market, by Type, 2021-2028 (USD Million)
Table 97 France: Smart Meter Market, by Communication, 2021-2028 (USD Million)
Table 98 France: Smart Meter Market, by Component, 2021-2028 (USD Million)
Table 99 France: Smart Meter Market, by Technology, 2021-2028 (USD Million)
Table 100 France: Smart Meter Market, by End-USer, 2021-2028 (USD Million)
11.3.7.4 Italy
11.3.7.4.1 Rollout of Next-Generation Smart Meters
Table 101 Italy: Smart Meter Market, by Type, 2021-2028 (USD Million)
Table 102 Italy: Smart Meter Market, by Communication, 2021-2028 (USD Million)
Table 103 Italy: Smart Meter Market, by Component, 2021-2028 (USD Million)
Table 104 Italy: Smart Meter Market, by Technology, 2021-2028 (USD Million)
Table 105 Italy: Smart Meter Market, by End-USer, 2021-2028 (USD Million)
11.3.7.5 Spain
11.3.7.5.1 Need for Reliable Grid Operations and Reducing Nrw Losses
Table 106 Spain: Smart Meter Market, by Type, 2021-2028 (USD Million)
Table 107 Spain: Smart Meter Market, by Communication, 2021-2028 (USD Million)
Table 108 Spain: Smart Meter Market, by Component, 2021-2028 (USD Million)
Table 109 Spain: Smart Meter Market, by Technology, 2021-2028 (USD Million)
Table 110 Spain: Smart Meter Market, by End-USer, 2021-2028 (USD Million)
11.3.7.6 Poland
11.3.7.6.1 Supportive Government Laws for Smart Grid Development
Table 111 Poland: Smart Meter Market, by Type, 2021-2028 (USD Million)
Table 112 Poland: Smart Meter Market, by Communication, 2021-2028 (USD Million)
Table 113 Poland: Smart Meter Market, by Component, 2021-2028 (USD Million)
Table 114 Poland: Smart Meter Market, by Technology, 2021-2028 (USD Million)
Table 115 Poland: Smart Meter Market, by End-USer, 2021-2028 (USD Million)
11.3.7.7 Rest of Europe
Table 116 Rest of Europe: Smart Meter Market, by Type, 2021-2028 (USD Million)
Table 117 Rest of Europe: Smart Meter Market, by Communication, 2021-2028 (USD Million)
Table 118 Rest of Europe: Smart Meter Market, by Component, 2021-2028 (USD Million)
Table 119 Rest of Europe: Smart Meter Market, by Technology, 2021-2028 (USD Million)
Table 120 Rest of Europe: Smart Meter Market, by End-USer, 2021-2028 (USD Million)
11.4 North America
11.4.1 Recession Impact: North America
Figure 42 North America: Snapshot of Smart Meter Market
11.4.2 By Type
Table 121 North America: Smart Meter Market, by Type, 2021-2028 (USD Million)
11.4.3 By Communication
Table 122 North America: Smart Meter Market, by Communication, 2021-2028 (USD Million)
11.4.4 By Component
Table 123 North America: Smart Meter Market, by Component, 2021-2028 (USD Million)
Table 124 North America: Smart Meter Market for Software, by Type, 2021-2028 (USD Million)
Table 125 North America: Smart Meter Market for Hardware, by Type, 2021-2028 (USD Million)
11.4.5 By Technology
Table 126 North America: Smart Meter Market, by Technology, 2021-2028 (USD Million)
11.4.6 By End-USer
Table 127 North America: Smart Meter Market, by End-USer, 2021-2028 (USD Million)
11.4.7 By Country
Table 128 North America: Smart Meter Market, by Country, 2021-2028 (USD Million)
11.4.7.1 US
11.4.7.1.1 Implementation of Climate Change Policies and Rising Investments in Smart Grid Infrastructures
Table 129 US: Smart Meter Market, by Type, 2021-2028 (USD Million)
Table 130 US: Smart Meter Market, by Communication, 2021-2028 (USD Million)
Table 131 US: Smart Meter Market, by Component, 2021-2028 (USD Million)
Table 132 US: Smart Meter Market, by Technology, 2021-2028 (USD Million)
Table 133 US: Smart Meter Market, by End-USer, 2021-2028 (USD Million)
11.4.7.2 Canada
11.4.7.2.1 Increasing Domestic Power Consumption and Upgrade of Electric Grid Infrastructure to Incorporate Renewable Energy
Table 134 Canada: Smart Meter Market, by Type, 2021-2028 (USD Million)
Table 135 Canada: Smart Meter Market, by Communication, 2021-2028 (USD Million)
Table 136 Canada: Smart Meter Market, by Component, 2021-2028 (USD Million)
Table 137 Canada: Smart Meter Market, by Technology, 2021-2028 (USD Million)
Table 138 Canada: Smart Meter Market, by End-USer, 2021-2028 (USD Million)
11.4.7.3 Mexico
11.4.7.3.1 Massive Smart Meter Rollout Plans and Government-Led Support
Table 139 Mexico: Smart Meter Market, by Type, 2021-2028 (USD Million)
Table 140 Mexico: Smart Meter Market, by Communication, 2021-2028 (USD Million)
Table 141 Mexico: Smart Meter Market, by Component, 2021-2028 (USD Million)
Table 142 Mexico: Smart Meter Market, by Technology, 2021-2028 (USD Million)
Table 143 Mexico: Smart Meter Market, by End-USer, 2021-2028 (USD Million)
11.5 Middle East & Africa
11.5.1 Recession Impact: Middle East & Africa
11.5.2 By Type
Table 144 Middle East & Africa: Smart Meter Market, by Type, 2021-2028 (USD Million)
11.5.3 By Communication
Table 145 Middle East & Africa: Smart Meter Market, by Communication, 2021-2028 (USD Million)
11.5.4 By Component
Table 146 Middle East & Africa: Smart Meter Market, by Component, 2021-2028 (USD Million)
Table 147 Middle East & Africa: Smart Meter Market for Software, by Type, 2021-2028 (USD Million)
Table 148 Middle East & Africa: Smart Meter Market for Hardware, by Type, 2021-2028 (USD Million)
11.5.5 By Technology
Table 149 Middle East & Africa: Smart Meter Market, by Technology, 2021-2028 (USD Million)
11.5.6 By End-USer
Table 150 Middle East & Africa: Smart Meter Market, by End-USer, 2021-2028 (USD Million)
11.5.7 By Country
Table 151 Middle East & Africa: Smart Meter Market, by Country, 2021-2028 (USD Million)
11.5.7.1 Saudi Arabia
11.5.7.1.1 Rising Infrastructure Development and Growing Need to Enhance Operational Efficiency
Table 152 Saudi Arabia: Smart Meter Market, by Type, 2021-2028 (USD Million)
Table 153 Saudi Arabia: Smart Meter Market, by Communication, 2021-2028 (USD Million)
Table 154 Saudi Arabia: Smart Meter Market, by Component, 2021-2028 (USD Million)
Table 155 Saudi Arabia: Smart Meter Market, by Technology, 2021-2028 (USD Million)
Table 156 Saudi Arabia: Smart Meter Market, by End-USer, 2021-2028 (USD Million)
11.5.7.2 UAE
11.5.7.2.1 Increasing Energy Consumption and Growing Need to Improve Utility Operations
Table 157 UAE: Smart Meter Market, by Type, 2021-2028 (USD Million)
Table 158 UAE: Smart Meter Market, by Communication, 2021-2028 (USD Million)
Table 159 UAE: Smart Meter Market, by Component, 2021-2028 (USD Million)
Table 160 UAE: Smart Meter Market, by Technology, 2021-2028 (USD Million)
Table 161 UAE: Smart Meter Market, by End-USer, 2021-2028 (USD Million)
11.5.7.3 South Africa
11.5.7.3.1 Growing Need to Reduce Utility Debts
Table 162 South Africa: Smart Meter Market, by Type, 2021-2028 (USD Million)
Table 163 South Africa: Smart Meter Market, by Communication, 2021-2028 (USD Million)
Table 164 South Africa: Smart Meter Market, by Component, 2021-2028 (USD Million)
Table 165 South Africa: Smart Meter Market, by Technology, 2021-2028 (USD Million)
Table 166 South Africa: Smart Meter Market, by End-USer, 2021-2028 (USD Million)
11.5.7.4 Israel
11.5.7.4.1 Rising Focus on Real-Time Monitoring to Manage Power USage
Table 167 Israel: Smart Meter Market, by Type, 2021-2028 (USD Million)
Table 168 Israel: Smart Meter Market, by Communication, 2021-2028 (USD Million)
Table 169 Israel: Smart Meter Market, by Component, 2021-2028 (USD Million)
Table 170 Israel: Smart Meter Market, by Technology, 2021-2028 (USD Million)
Table 171 Israel: Smart Meter Market, by End-USer, 2021-2028 (USD Million)
11.5.7.5 Egypt
11.5.7.5.1 Replacement of Aging Utility Infrastructure to Better Manage Electricity Distribution
Table 172 Egypt: Smart Meter Market, by Type, 2021-2028 (USD Million)
Table 173 Egypt: Smart Meter Market, by Communication, 2021-2028 (USD Million)
Table 174 Egypt: Smart Meter Market, by Component, 2021-2028 (USD Million)
Table 175 Egypt: Smart Meter Market, by Technology, 2021-2028 (USD Million)
Table 176 Egypt: Smart Meter Market, by End-USer, 2021-2028 (USD Million)
11.5.7.6 Qatar
11.5.7.6.1 Transition to Smart Cities and Smart Infrastructure
Table 177 Qatar: Smart Meter Market, by Type, 2021-2028 (USD Million)
Table 178 Qatar: Smart Meter Market, by Communication, 2021-2028 (USD Million)
Table 179 Qatar: Smart Meter Market, by Component, 2021-2028 (USD Million)
Table 180 Qatar: Smart Meter Market, by Technology, 2021-2028 (USD Million)
Table 181 Qatar: Smart Meter Market, by End-USer, 2021-2028 (USD Million)
11.5.7.7 Turkey
11.5.7.7.1 Reduction in Duration of Billing and Human Errors
Table 182 Turkey: Smart Meter Market, by Type, 2021-2028 (USD Million)
Table 183 Turkey: Smart Meter Market, by Communication, 2021-2028 (USD Million)
Table 184 Turkey: Smart Meter Market, by Component, 2021-2028 (USD Million)
Table 185 Turkey: Smart Meter Market, by Technology, 2021-2028 (USD Million)
Table 186 Turkey: Smart Meter Market, by End-USer, 2021-2028 (USD Million)
11.5.7.8 Rest of Middle East & Africa
Table 187 Rest of Middle East & Africa: Smart Meter Market, by Type, 2021-2028 (USD Million)
Table 188 Rest of Middle East & Africa: Smart Meter Market, by Communication, 2021-2028 (USD Million)
Table 189 Rest of Middle East & Africa: Smart Meter Market, by Component, 2021-2028 (USD Million)
Table 190 Rest of Middle East & Africa: Smart Meter Market, by Technology, 2021-2028 (USD Million)
Table 191 Rest of Middle East & Africa: Smart Meter Market, by End-USer, 2021-2028 (USD Million)
11.6 South America
11.6.1 Recession Impact: South America
11.6.2 By Type
Table 192 South America: Smart Meter Market, by Type, 2021-2028 (USD Million)
11.6.3 By Communication
Table 193 South America: Smart Meter Market, by Communication, 2021-2028 (USD Million)
11.6.4 By Component
Table 194 South America: Smart Meter Market, by Component, 2021-2028 (USD Million)
Table 195 South America: Smart Meter Market for Software, by Type, 2021-2028 (USD Million)
Table 196 South America: Smart Meter Market for Hardware, by Type, 2021-2028 (USD Million)
11.6.5 By Technology
Table 197 South America: Smart Meter Market, by Technology, 2021-2028 (USD Million)
11.6.6 By End-USer
Table 198 South America: Smart Meter Market, by End-USer, 2021-2028 (USD Million)
11.6.7 By Country
Table 199 South America: Smart Meter Market, by Country, 2021-2028 (USD Million)
11.6.7.1 Brazil
11.6.7.1.1 Increasing Need to Improve Operational Efficiency
Table 200 Brazil: Smart Meter Market, by Type, 2021-2028 (USD Million)
Table 201 Brazil: Smart Meter Market, by Communication, 2021-2028 (USD Million)
Table 202 Brazil: Smart Meter Market, by Component, 2021-2028 (USD Million)
Table 203 Brazil: Smart Meter Market, by Technology, 2021-2028 (USD Million)
Table 204 Brazil: Smart Meter Market, by End-USer, 2021-2028 (USD Million)
11.6.7.2 Argentina
11.6.7.2.1 Growing Demand for Renewable Energy
Table 205 Argentina: Smart Meter Market, by Type, 2021-2028 (USD Million)
Table 206 Argentina: Smart Meter Market, by Communication, 2021-2028 (USD Million)
Table 207 Argentina: Smart Meter Market, by Component, 2021-2028 (USD Million)
Table 208 Argentina: Smart Meter Market, by Technology, 2021-2028 (USD Million)
Table 209 Argentina: Smart Meter Market, by End-USer, 2021-2028 (USD Million)
11.6.7.3 Chile
11.6.7.3.1 Rising Need to Modernize Utility Infrastructure and Reduce Operational Costs
Table 210 Chile: Smart Meter Market, by Type, 2021-2028 (USD Million)
Table 211 Chile: Smart Meter Market, by Communication, 2021-2028 (USD Million)
Table 212 Chile: Smart Meter Market, by Component, 2021-2028 (USD Million)
Table 213 Chile: Smart Meter Market, by Technology, 2021-2028 (USD Million)
Table 214 Chile: Smart Meter Market, by End-USer, 2021-2028 (USD Million)
11.6.7.4 Rest of South America
Table 215 Rest of South America: Smart Meter Market, by Type, 2021-2028 (USD Million)
Table 216 Rest of South America: Smart Meter Market, by Communication, 2021-2028 (USD Million)
Table 217 Rest of South America: Smart Meter Market, by Component, 2021-2028 (USD Million)
Table 218 Rest of South America: Smart Meter Market, by Technology, 2021-2028 (USD Million)
Table 219 Rest of South America: Smart Meter Market, by End-USer, 2021-2028 (USD Million)

12 Competitive Landscape
12.1 Overview of Strategies Adopted by Key Players
Table 220 Overview of Strategies Adopted by Key Manufacturers of Smart Meters
12.2 Market Share Analysis of Top Five Players, 2021
Figure 43 Market Share Analysis of Top Five Players in Smart Meter Market, 2021
Table 221 Smart Meter Market: Degree of Competition
12.3 Smart Meter Market Share Analysis, 2021
12.4 Five-Year Company Revenue Analysis
Figure 44 Revenue Analysis of Top Five Players in Smart Meter Market, 2017-2021
12.5 Company Evaluation Matrix/Quadrant, 2021
12.5.1 Stars
12.5.2 Pervasive Players
12.5.3 Emerging Leaders
12.5.4 Participants
Figure 45 Smart Meter Market (Global): Key Company Evaluation Matrix, 2021
12.6 Startup/Sme Evaluation Quadrant, 2021
12.6.1 Progressive Companies
12.6.2 Responsive Companies
12.6.3 Dynamic Companies
12.6.4 Starting Blocks
Figure 46 Smart Meter Market: Startup/Sme Evaluation Quadrant, 2021
12.7 Competitive Benchmarking
Table 222 Smart Meter Market: Detailed List of Key Startups/Smes
Table 223 Smart Meter Market: Competitive Benchmarking of Key Startups/Smes
12.8 Smart Meter Market: Company Footprint
Table 224 Type: Company Footprint
Table 225 Component: Company Footprint
Table 226 End-USer: Company Footprint
Table 227 Region: Company Footprint
Table 228 Company Footprint
12.9 Competitive Scenario
Table 229 Smart Meter Market: Product Launches, September 2019-November 2022
Table 230 Smart Meter Market: Deals, July 2019-October 2022
Table 231 Smart Meter Market: Others, July 2021-February 2022

13 Company Profiles
(Business Overview, Products/Solutions Offered, Recent Developments, and Analyst's View (Key Strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*
13.1 Key Players
13.1.1 Schneider Electric
Table 232 Schneider Electric: Company Overview
Figure 47 Schneider Electric: Company Snapshot
Table 233 Schneider Electric: Products/Solutions Offered
Table 234 Schneider Electric: Product Launches
Table 235 Schneider Electric: Deals
Table 236 Schneider Electric: Others
13.1.2 Landis+Gyr
Table 237 Landis+Gyr: Company Overview
Figure 48 Landis+Gyr: Company Snapshot
Table 238 Landis+Gyr: Products/Solutions Offered
Table 239 Landis+Gyr: Product Launches
Table 240 Landis+Gyr: Deals
Table 241 Landis+Gyr: Others
13.1.3 Itron, Inc.
Table 242 Itron, Inc.: Company Overview
Figure 49 Itron, Inc.: Company Snapshot
Table 243 Itron, Inc.: Products/Solutions Offered
Table 244 Itron, Inc.: Product Launches
Table 245 Itron, Inc.: Deals
Table 246 Itron, Inc.: Others
13.1.4 Siemens
Table 247 Siemens: Company Overview
Figure 50 Siemens: Company Snapshot
Table 248 Siemens: Products/Solutions Offered
Table 249 Siemens: Deals
Table 250 Siemens: Others
13.1.5 Wasion Group
Table 251 Wasion Group: Company Overview
Figure 51 Wasion Group: Company Snapshot
Table 252 Wasion Group: Products/Solutions Offered
Table 253 Wasion Group: Deals
13.1.6 Badger Meter, Inc.
Table 254 Badger Meter, Inc.: Company Overview
Figure 52 Badger Meter, Inc.: Company Snapshot
Table 255 Badger Meter, Inc.: Products/Solutions Offered
Table 256 Wasion Group: Product Launches
Table 257 Badger Meter, Inc.: Deals
13.1.7 Sensus (Xylem)
Table 258 Sensus (Xylem): Company Overview
Figure 53 Sensus (Xylem): Company Snapshot
Table 259 Sensus (Xylem): Products/Solutions Offered
Table 260 Sensus Xylem: Product Launches
Table 261 Sensus Xylem: Deals
13.1.8 Honeywell International
Table 262 Honeywell International: Company Overview
Figure 54 Honeywell International: Company Snapshot
Table 263 Honeywell International: Products/Solutions Offered
Table 264 Honeywell International: Product Launches
Table 265 Honeywell International: Deals
13.1.9 Larsen & Toubro
Table 266 Larsen & Toubro: Company Overview
Figure 55 Larsen & Toubro: Company Snapshot
Table 267 Larsen & Toubro: Products/Solutions Offered
Table 268 Larsen & Toubro: Others
13.1.10 Kamstrup A/S
Table 269 Kamstrup A/S: Company Overview
Table 270 Kamstrup A/S: Products/Solutions Offered
Table 271 Kamstrup A/S: Product Launches
Table 272 Kamstrup A/S: Deals
Table 273 Kamstrup A/S: Others
13.1.11 Genus Power Infrastructure
Table 274 Genus Power Infrastructure: Company Overview
Figure 56 Genus Power Infrastructure: Company Snapshot
Table 275 Genus Power Infrastructure: Products/Solutions Offered
Table 276 Genus Power Infrastructure: Deals
13.1.12 Aclara Technologies
Table 277 Aclara Technologies: Company Overview
Table 278 Aclara Technologies: Products/Solutions Offered
Table 279 Aclara Technologies: Product Launches
Table 280 Aclara Technologies: Deals
Table 281 Aclara Technologies: Others
13.1.13 Osaki Electric Co. Ltd.(Edmi)
Table 282 Osaki Electric Co. Ltd. (Edmi): Company Overview
Table 283 Osaki Electric Co. Ltd. (Edmi): Products/Solutions Offered
Table 284 Osaki Electric Co. Ltd. (Edmi): Product Launches
Table 285 Osaki Electric Co. Ltd. (Edmi): Deals
Table 286 Osaki Electric Co. (Edmi): Others
13.1.14 Sagemcom
Table 287 Sagemcom: Company Overview
Table 288 Sagemcom: Products/Solutions Offered
Table 289 Sagemcom: Product Launches
Table 290 Sagemcom: Deals
13.1.15 Iskraemeco
Table 291 Iskraemeco: Company Overview
Table 292 Iskraemeco: Products/Solutions Offered
Table 293 Iskraemeco: Product Launches
Table 294 Iskraemeco: Deals
Table 295 Iskraemeco: Others
13.2 Other Players
13.2.1 Jiangsu Linyang Electronics
Table 296 Jiangsu Linyang Electronics
13.2.2 Hexing Electrical
Table 297 Hexing Electrical
13.2.3 Networked Energy Services Corporation
Table 298 Networked Energy Services Corporation
13.2.4 Pietro Fiorentini
Table 299 Pietro Fiorentini
13.2.5 Secure Meters
Table 300 Secure Meters
*Details on Business Overview, Products/Solutions Offered, Recent Developments, and Analyst's View (Key Strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) Might Not be Captured in Case of Unlisted Companies.

14 Adjacent and Related Markets
14.1 Introduction
14.2 Limitations
14.3 Smart Meter Interconnected Markets
14.4 Smart Water Meter Market
14.4.1 Market Definition
14.4.2 Limitations
14.4.3 Market Overview
14.4.4 Smart Water Meter Market, by Meter Type
14.4.4.1 Electromagnetic Meters
Table 301 Electromagnetic Meters: Smart Water Metering Market, by Region, 2020-2027 (USD Million)
14.4.4.2 Ultrasonic Meters
Table 302 Ultrasonic Meters: Smart Water Metering Market, by Region, 2020-2027 (USD Million)
14.4.4.3 Smart Mechanical Meters
Table 303 Smart Mechanical Meters: Smart Water Metering Market, by Region, 2020-2027 (USD Million)
14.4.5 Smart Meter Market, by Component
Table 304 Smart Water Metering Market, by Component, 2020-2027 (USD Million)
14.4.5.1 Meters & Accessories
Table 305 Meters & Accessories: Smart Water Metering Market, by Region, 2020-2027 (USD Million)
14.4.5.2 It Solutions
Table 306 It Solutions: Smart Water Metering Market, by Region, 2020-2027 (USD Million)
14.4.5.3 Communications
Table 307 Communications: Smart Water Metering Market, by Region, 2020-2027 (USD Million)
14.4.6 Smart Meter Market, by Region
Table 308 Smart Water Metering Market, by Region, 2020-2027 (USD Million)
14.5 US Water Meter Market
14.5.1 Market Definition
14.5.2 Limitations
14.5.3 Market Overview
14.5.4 US Water Meter Market, by Product
Table 309 US Water Meter Market, by Product, 2016-2026 (USD Million)
14.5.5 US Water Meter Market, by Application
Table 310 US Water Meter Market, by Application, 2016-2026 (USD Million)

15 Appendix
15.1 Insights from Industry Experts
15.2 Discussion Guide
15.3 Knowledgestore: The Subscription Portal
15.4 Customization Options

Companies Mentioned

  • Aclara Technologies
  • Badger Meter, Inc.
  • Genus Power Infrastructure
  • Hexing Electrical
  • Honeywell International
  • Iskraemeco
  • Itron, Inc.
  • Jiangsu Linyang Electronics
  • Kamstrup A/S
  • Landis+Gyr
  • Larsen & Toubro
  • Networked Energy Services Corporation
  • Osaki Electric Co. Ltd.(Edmi)
  • Pietro Fiorentini
  • Sagemcom
  • Schneider Electric
  • Secure Meters
  • Sensus (Xylem)
  • Siemens
  • Wasion Group

Methodology

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