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Smart Electric Meter Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

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    Report

  • 142 Pages
  • May 2023
  • Region: Global
  • IMARC Group
  • ID: 5820850
Description Jump to:
The global smart electric meter market size reached US$ 23.7 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 38.1 Billion by 2028, exhibiting a growth rate (CAGR) of 7.8% during 2023-2028.

A smart electric meter sends the readings to the electricity supplier automatically and wirelessly using a secure smart data network. It measures the flow of electric power from the input to the output terminal and comprises a liquid-crystal display (LCD) display for showing readings of the parameters. It accurately monitors the quantity of electricity consumed by homes, companies, or other electrically powered devices. In addition, it assists consumers in tracking real-time updates for electricity while checking their credit and debt balances. As a result, the smart electric meter finds extensive applications in residential, commercial, and industrial sectors.


Smart Electric Meter Market Trends:

The growing development of communication network infrastructure across the globe as it enables companies to communicate faster and better, reduce production costs and improve productivity represents one of the key factors driving the market. Moreover, several benefits offered by smart electric meters, such as minimizing meter reading costs, preventing disconnections, and removing inefficiencies in billing and re-connection costs to corporations and consumers, are propelling the growth of the market. In addition, there is a rise in the digitalization of electrical systems around the world. This, coupled with the growing demand for electricity from commercial and residential sectors, is positively influencing the market. Besides this, large scale installations of smart meters by utility companies are offering lucrative growth opportunities to industry investors. Apart from this, governments of several countries are undertaking initiatives to develop smart cities worldwide. This, along with the increasing development in cloud computing and analytics, is catalyzing the demand for smart electric meters. Additionally, the rising demand for remote monitoring and controlling of power grids is bolstering the growth of the market.

Key Market Segmentation:

The publisher provides an analysis of the key trends in each sub-segment of the global smart electric meter market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, phase and end user.

Breakup by Type:

  • Advanced Metering Infrastructure (AMI)
  • Automatic Meter Reading (AMR)

Breakup by Phase:

  • Single Phase
  • Three Phase

Breakup by End User:

  • Industrial
  • Commercial
  • Residential

Breakup by Region:

North America

  • United States
  • Canada

Asia-Pacific

  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others

Europe

  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others

Latin America

  • Brazil
  • Mexico
  • Others

Middle East and Africa


Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being ABB Ltd., Aclara Technologies LLC (Hubbell Incorporated), Genus Power Infrastructures Ltd., Holley Technology Ltd., Honeywell International Inc., Iskraemeco Group, Itron Inc., Jiangsu Linyang Energy Co. Ltd., Landis+Gyr, Microchip Technology Inc., Schneider Electric SE and Wasion Group.

Key Questions Answered in This Report:

  • What was the size of the global smart electric meter market in 2022?
  • What is the expected growth rate of the global smart electric meter market during 2023-2028?
  • What are the key factors driving the global smart electric meter market?
  • What has been the impact of COVID-19 on the global smart electric meter market?
  • What is the breakup of the global smart electric meter market based on the type?
  • What is the breakup of the global smart electric meter market based on the end user?
  • What are the key regions in the global smart electric meter market?
  • Who are the key players/companies in the global smart electric meter market?

Table of Contents

1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Smart Electric Meter Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Type
6.1 Advanced Metering Infrastructure (AMI)
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Automatic Meter Reading (AMR)
6.2.1 Market Trends
6.2.2 Market Forecast
7 Market Breakup by Phase
7.1 Single Phase
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Three Phase
7.2.1 Market Trends
7.2.2 Market Forecast
8 Market Breakup by End User
8.1 Industrial
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Commercial
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Residential
8.3.1 Market Trends
8.3.2 Market Forecast
9 Market Breakup by Region
9.1 North America
9.1.1 United States
9.1.1.1 Market Trends
9.1.1.2 Market Forecast
9.1.2 Canada
9.1.2.1 Market Trends
9.1.2.2 Market Forecast
9.2 Asia-Pacific
9.2.1 China
9.2.1.1 Market Trends
9.2.1.2 Market Forecast
9.2.2 Japan
9.2.2.1 Market Trends
9.2.2.2 Market Forecast
9.2.3 India
9.2.3.1 Market Trends
9.2.3.2 Market Forecast
9.2.4 South Korea
9.2.4.1 Market Trends
9.2.4.2 Market Forecast
9.2.5 Australia
9.2.5.1 Market Trends
9.2.5.2 Market Forecast
9.2.6 Indonesia
9.2.6.1 Market Trends
9.2.6.2 Market Forecast
9.2.7 Others
9.2.7.1 Market Trends
9.2.7.2 Market Forecast
9.3 Europe
9.3.1 Germany
9.3.1.1 Market Trends
9.3.1.2 Market Forecast
9.3.2 France
9.3.2.1 Market Trends
9.3.2.2 Market Forecast
9.3.3 United Kingdom
9.3.3.1 Market Trends
9.3.3.2 Market Forecast
9.3.4 Italy
9.3.4.1 Market Trends
9.3.4.2 Market Forecast
9.3.5 Spain
9.3.5.1 Market Trends
9.3.5.2 Market Forecast
9.3.6 Russia
9.3.6.1 Market Trends
9.3.6.2 Market Forecast
9.3.7 Others
9.3.7.1 Market Trends
9.3.7.2 Market Forecast
9.4 Latin America
9.4.1 Brazil
9.4.1.1 Market Trends
9.4.1.2 Market Forecast
9.4.2 Mexico
9.4.2.1 Market Trends
9.4.2.2 Market Forecast
9.4.3 Others
9.4.3.1 Market Trends
9.4.3.2 Market Forecast
9.5 Middle East and Africa
9.5.1 Market Trends
9.5.2 Market Breakup by Country
9.5.3 Market Forecast
10 SWOT Analysis
10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 ABB Ltd.
14.3.1.1 Company Overview
14.3.1.2 Product Portfolio
14.3.1.3 Financials
14.3.1.4 SWOT Analysis
14.3.2 Aclara Technologies LLC (Hubbell Incorporated)
14.3.2.1 Company Overview
14.3.2.2 Product Portfolio
14.3.2.3 SWOT Analysis
14.3.3 Genus Power Infrastructures Ltd.
14.3.3.1 Company Overview
14.3.3.2 Product Portfolio
14.3.3.3 Financials
14.3.4 Holley Technology Ltd.
14.3.4.1 Company Overview
14.3.4.2 Product Portfolio
14.3.5 Honeywell International Inc.
14.3.5.1 Company Overview
14.3.5.2 Product Portfolio
14.3.5.3 Financials
14.3.6 Iskraemeco Group
14.3.6.1 Company Overview
14.3.6.2 Product Portfolio
14.3.7 Itron Inc.
14.3.7.1 Company Overview
14.3.7.2 Product Portfolio
14.3.7.3 Financials
14.3.7.4 SWOT Analysis
14.3.8 Jiangsu Linyang Energy Co. Ltd.
14.3.8.1 Company Overview
14.3.8.2 Product Portfolio
14.3.8.3 Financials
14.3.9 Landis+Gyr
14.3.9.1 Company Overview
14.3.9.2 Product Portfolio
14.3.9.3 Financials
14.3.10 Microchip Technology Inc.
14.3.10.1 Company Overview
14.3.10.2 Product Portfolio
14.3.10.3 Financials
14.3.10.4 SWOT Analysis
14.3.11 Schneider Electric SE
14.3.11.1 Company Overview
14.3.11.2 Product Portfolio
14.3.11.3 Financials
14.3.11.4 SWOT Analysis
14.3.12 Wasion Group
14.3.12.1 Company Overview
14.3.12.2 Product Portfolio
14.3.12.3 Financials
List of Figures
Figure 1: Global: Smart Electric Meter Market: Major Drivers and Challenges
Figure 2: Global: Smart Electric Meter Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Smart Electric Meter Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 4: Global: Smart Electric Meter Market: Breakup by Type (in %), 2022
Figure 5: Global: Smart Electric Meter Market: Breakup by Phase (in %), 2022
Figure 6: Global: Smart Electric Meter Market: Breakup by End User (in %), 2022
Figure 7: Global: Smart Electric Meter Market: Breakup by Region (in %), 2022
Figure 8: Global: Smart Electric Meter (Advanced Metering Infrastructure (AMI)) Market: Sales Value (in Million US$), 2017 & 2022
Figure 9: Global: Smart Electric Meter (Advanced Metering Infrastructure (AMI)) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 10: Global: Smart Electric Meter (Automatic Meter Reading (AMR)) Market: Sales Value (in Million US$), 2017 & 2022
Figure 11: Global: Smart Electric Meter (Automatic Meter Reading (AMR)) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 12: Global: Smart Electric Meter (Single Phase) Market: Sales Value (in Million US$), 2017 & 2022
Figure 13: Global: Smart Electric Meter (Single Phase) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 14: Global: Smart Electric Meter (Three Phase) Market: Sales Value (in Million US$), 2017 & 2022
Figure 15: Global: Smart Electric Meter (Three Phase) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 16: Global: Smart Electric Meter (Industrial) Market: Sales Value (in Million US$), 2017 & 2022
Figure 17: Global: Smart Electric Meter (Industrial) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 18: Global: Smart Electric Meter (Commercial) Market: Sales Value (in Million US$), 2017 & 2022
Figure 19: Global: Smart Electric Meter (Commercial) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 20: Global: Smart Electric Meter (Residential) Market: Sales Value (in Million US$), 2017 & 2022
Figure 21: Global: Smart Electric Meter (Residential) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 22: North America: Smart Electric Meter Market: Sales Value (in Million US$), 2017 & 2022
Figure 23: North America: Smart Electric Meter Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 24: United States: Smart Electric Meter Market: Sales Value (in Million US$), 2017 & 2022
Figure 25: United States: Smart Electric Meter Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 26: Canada: Smart Electric Meter Market: Sales Value (in Million US$), 2017 & 2022
Figure 27: Canada: Smart Electric Meter Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 28: Asia-Pacific: Smart Electric Meter Market: Sales Value (in Million US$), 2017 & 2022
Figure 29: Asia-Pacific: Smart Electric Meter Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 30: China: Smart Electric Meter Market: Sales Value (in Million US$), 2017 & 2022
Figure 31: China: Smart Electric Meter Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 32: Japan: Smart Electric Meter Market: Sales Value (in Million US$), 2017 & 2022
Figure 33: Japan: Smart Electric Meter Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 34: India: Smart Electric Meter Market: Sales Value (in Million US$), 2017 & 2022
Figure 35: India: Smart Electric Meter Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 36: South Korea: Smart Electric Meter Market: Sales Value (in Million US$), 2017 & 2022
Figure 37: South Korea: Smart Electric Meter Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 38: Australia: Smart Electric Meter Market: Sales Value (in Million US$), 2017 & 2022
Figure 39: Australia: Smart Electric Meter Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 40: Indonesia: Smart Electric Meter Market: Sales Value (in Million US$), 2017 & 2022
Figure 41: Indonesia: Smart Electric Meter Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 42: Others: Smart Electric Meter Market: Sales Value (in Million US$), 2017 & 2022
Figure 43: Others: Smart Electric Meter Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 44: Europe: Smart Electric Meter Market: Sales Value (in Million US$), 2017 & 2022
Figure 45: Europe: Smart Electric Meter Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 46: Germany: Smart Electric Meter Market: Sales Value (in Million US$), 2017 & 2022
Figure 47: Germany: Smart Electric Meter Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 48: France: Smart Electric Meter Market: Sales Value (in Million US$), 2017 & 2022
Figure 49: France: Smart Electric Meter Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 50: United Kingdom: Smart Electric Meter Market: Sales Value (in Million US$), 2017 & 2022
Figure 51: United Kingdom: Smart Electric Meter Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 52: Italy: Smart Electric Meter Market: Sales Value (in Million US$), 2017 & 2022
Figure 53: Italy: Smart Electric Meter Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 54: Spain: Smart Electric Meter Market: Sales Value (in Million US$), 2017 & 2022
Figure 55: Spain: Smart Electric Meter Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 56: Russia: Smart Electric Meter Market: Sales Value (in Million US$), 2017 & 2022
Figure 57: Russia: Smart Electric Meter Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 58: Others: Smart Electric Meter Market: Sales Value (in Million US$), 2017 & 2022
Figure 59: Others: Smart Electric Meter Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 60: Latin America: Smart Electric Meter Market: Sales Value (in Million US$), 2017 & 2022
Figure 61: Latin America: Smart Electric Meter Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 62: Brazil: Smart Electric Meter Market: Sales Value (in Million US$), 2017 & 2022
Figure 63: Brazil: Smart Electric Meter Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 64: Mexico: Smart Electric Meter Market: Sales Value (in Million US$), 2017 & 2022
Figure 65: Mexico: Smart Electric Meter Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 66: Others: Smart Electric Meter Market: Sales Value (in Million US$), 2017 & 2022
Figure 67: Others: Smart Electric Meter Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 68: Middle East and Africa: Smart Electric Meter Market: Sales Value (in Million US$), 2017 & 2022
Figure 69: Middle East and Africa: Smart Electric Meter Market: Breakup by Country (in %), 2022
Figure 70: Middle East and Africa: Smart Electric Meter Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 71: Global: Smart Electric Meter Industry: SWOT Analysis
Figure 72: Global: Smart Electric Meter Industry: Value Chain Analysis
Figure 73: Global: Smart Electric Meter Industry: Porter's Five Forces Analysis
List of Tables
Table 1: Global: Smart Electric Meter Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Smart Electric Meter Market Forecast: Breakup by Type (in Million US$), 2023-2028
Table 3: Global: Smart Electric Meter Market Forecast: Breakup by Phase (in Million US$), 2023-2028
Table 4: Global: Smart Electric Meter Market Forecast: Breakup by End User (in Million US$), 2023-2028
Table 5: Global: Smart Electric Meter Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 6: Global: Smart Electric Meter Market: Competitive Structure
Table 7: Global: Smart Electric Meter Market: Key Players

Companies Mentioned

  • ABB Ltd.
  • Aclara Technologies LLC (Hubbell Incorporated)
  • Genus Power Infrastructures Ltd.
  • Holley Technology Ltd.
  • Honeywell International Inc.
  • Iskraemeco Group
  • Itron Inc.
  • Jiangsu Linyang Energy Co. Ltd.
  • Landis+Gyr
  • Microchip Technology Inc.
  • Schneider Electric SE and Wasion Group.

Methodology

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Table Information

Report AttributeDetails
No. of Pages142
PublishedMay 2023
Forecast Period2022 - 2028
Estimated Market Value ( USD ) in 2022 $ 23.7 Billion
Forecasted Market Value ( USD ) by 2028 $ 38.1 Billion
Compound Annual Growth Rate8.2%
Regions CoveredGlobal
No. of Companies Mentioned11

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