Smart electricity meter market expected to Grow at 8.1% by 2031, With the growing consumption of energy worldwide, better energy monitoring system is required to track energy usage. Ever rising electricity consumption coupled with wastage has become a concern for both utilities as well as consumers. Today’s world is of data analytics and details related to energy usage as well as wastage can help to reduce energy wastage. Conventional electric meter does not provide detail usage data for energy consumption. Hence smart energy are required to over shortcomings of conventional meter.
Smart electricity meter is an electronic device that registers amount of energy consumed by the user in predetermined time interval and transmits the same to both consumer as well as utility provider for further monitoring and billing. It provides a twoway mode of communication to the central power grid. Smart electricity meters are equipped with real time sensors to monitor load penetration on the generation and distribution system. It helps the utility companies to provide valuation based on the specific time for consumption of electricity. This system also benefits the consumers as they can track their consumption and billing process which is otherwise the most objectionable subject between them and utility companies.
The governments across different countries are investing fortunes for developing new residential as well as commercial infrastructures. They are also striving to make cities smarter for better administration. All these factors provide a large horizon for the market of smart electric meters to grow. Countries such as U.K., Germany, USA has already started to invest in smart energy meters. Developing countries are also trying to adapt smart energy meter for better energy consumptions. Consequently, the smart electricity meter market is set to witness profound growth in the coming years.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
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Smart electricity meter is an electronic device that registers amount of energy consumed by the user in predetermined time interval and transmits the same to both consumer as well as utility provider for further monitoring and billing. It provides a twoway mode of communication to the central power grid. Smart electricity meters are equipped with real time sensors to monitor load penetration on the generation and distribution system. It helps the utility companies to provide valuation based on the specific time for consumption of electricity. This system also benefits the consumers as they can track their consumption and billing process which is otherwise the most objectionable subject between them and utility companies.
The governments across different countries are investing fortunes for developing new residential as well as commercial infrastructures. They are also striving to make cities smarter for better administration. All these factors provide a large horizon for the market of smart electric meters to grow. Countries such as U.K., Germany, USA has already started to invest in smart energy meters. Developing countries are also trying to adapt smart energy meter for better energy consumptions. Consequently, the smart electricity meter market is set to witness profound growth in the coming years.
Key Players Identified for Smart Electricity Meter Market Include but are Not Limited to:
Holley Metering Ltd, Itron, Landis+gyr, Jiangsu Linyang Electronics Co., Ltd, Delixi Group Co. Ltd., eneral Electric, Schneider Electric SA, Siemens AG, Elster Group, Iskraemeco, Badger Meter, EDMI, Neptune Technology Group Inc., Sensus, Honeywell International Inc., Kaifa Technology, Suntront Technology, Kamstrup Company, Aichi Tokei Denkei, Wasion Group And Other Notable Players.Historical & Forecast Period
This study report represents analysis of each segment from 2021 to 2031 considering 2022 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2023 to 2031.The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation ofSmart Electricity Meter market are as follows:- Research and development budgets of manufacturers and government spendin.
- Revenues of key companies in the market segment
- Number of end users and consumption volume, price and value.
- Geographical revenues generate by countries considered in the report
- Micro and macro environment factors that are currently influencing the Smart Electricity Meter market and their expected impact during the forecast period.
Market Segmentation
Product- Smart Electric Meter
- Smart Water Meter
- Smart Gas Meter
- Residential
- Commercial
- Industrial
Region Segment (2021 - 2031; US$ Million)
- North America
- U.S.
- Canada
- Rest of North America
- UK and European Union
- UK
- Germany
- Spain
- Italy
- France
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East and Africa
- GCC
- Africa
- Rest of Middle East and Africa
Key questions answered in this report
- What are the key micro and macro environmental factors that are impacting the growth of Smart Electricity Meter market?
- What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
- Estimated forecast and market projections up to 2031.
- Which segment accounts for the fastest CAGR during the forecast period?
- Which market segment holds a larger market share and why?
- Are low and middle-income economies investing in the Smart Electricity Meter market?
- Which is the largest regional market for Smart Electricity Meter market?
- What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
- Which are the key trends driving Smart Electricity Meter market growth?
- Who are the key competitors and what are their key strategies to enhance their market presence in the Smart Electricity Meter market worldwide?
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Table of Contents
1. Preface
2. Executive Summary
3. Smart Electricity Meter Market: Competitive Analysis
4. Smart Electricity Meter Market: Macro Analysis & Market Dynamics
5. Smart Electricity Meter Market: By Product, 2021-2031, USD (Million)
6. Smart Electricity Meter Market: By End Use, 2021-2031, USD (Million)
7. North America Smart Electricity Meter Market, 2021-2031, USD (Million)
8. UK and European Union Smart Electricity Meter Market, 2021-2031, USD (Million)
9. Asia Pacific Smart Electricity Meter Market, 2021-2031, USD (Million)
10. Latin America Smart Electricity Meter Market, 2021-2031, USD (Million)
11. Middle East and Africa Smart Electricity Meter Market, 2021-2031, USD (Million)
12. Company Profile
List of Figures
List of Tables
Companies Mentioned
- Holley Metering Ltd
- Itron
- Landis+gyr
- Jiangsu Linyang Electronics Co., Ltd
- Delixi Group Co. Ltd.
- eneral Electric
- Schneider Electric SA
- Siemens AG
- Elster Group,
- Iskraemeco
- Badger Meter
- EDMI
- Neptune Technology Group Inc.
- Sensus