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Smart Electricity Meter Market: By Phase (Single-Phase and Three-Phase), By Type of Communication Technology (Advanced Metering Infrastructure (AMI), Automatic Meter Reading (AMR)), By End-User Industry (Residential, commercial and industrial), and by region – Global industry sizing, growth, trend, opportunity and forecast (2020-2025)
The Smart Electric Meters Market report covers an in-depth analysis of market dynamics, business models, segmental/regional analysis, and respective market shares and strategies adopted by key market players operating in the global market . It involves in-depth analysis of factors influencing the global market and market statistics indicating market share/growth analysis by region and segment. The report study will present one of the most comprehensive analyzes of the market, capturing all aspects of the Smart Electricity Meter industry.
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Overview of the smart electricity meter market
During the forecast period 2020-2025, the smart electricity meter market is expected to register a CAGR of 7.50% and is valued at USD 14.0 Billion. The implementation of three-phase smart meters, backed by its cost-effectiveness and higher power density, is improving global momentum. Improving the efficiency and user-friendliness of the rural economy, online powerline construction is gaining momentum. In addition, the development of performance-oriented, optimized and scalable smart electricity meters is an important market trend. During the forecast period, these factors will increase the global smart electricity meter market.
Factors affecting the smart electricity meter market over the forecast period
- Growing need for energy efficiency and implementation of smart city projects are major drivers of the global smart electricity meter market.
- The growing need for an efficient, economical and operational data monitoring system is fueling the growth of the market.
- Favorable government policies and programs in the electricity and energy sector are expected to boost the growth of the smart electricity meter market.
- The increased demand for smart grids and energy saving in the emerging market is generating numerous opportunities for the global smart electricity meter market.
- The smart electricity meter market is expected to face cybersecurity and data hacking in the coming years. Additionally, high cost and security threats are major restraining factors of the smart electricity meter market.
- The major restraints in the global smart electricity meter market are high cost and security issues. Additionally, integration and incompatibility with conventional equipment and lack of customer awareness are hampering the global market.
- Electricity theft and delay in smart electricity meter deployment project is hampering the growth of the market.
Impact of COVID-19 on the smart electricity meter market
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The COVID-19 outbreak and the imposition of nationwide lockdowns around the world has affected the smart electricity meter market. The pandemic has halted operations in all sectors. However, growing demand from new establishments will fuel the market, especially in the healthcare energy sector. Major market players are focusing on improving their operations to offset the effects of COVID-19.
Smart Electricity Meter Market: Report Scope
The report describes the global smart electricity meter market research based on phase, communication technology and end-use industry.
On the basis of phase, the smart electricity meter market has been segmented into –
Based on communication technology, the smart electricity meter market has been segmented into –
- Advanced Measurement Infrastructure (AMI)
- Power line communication
- Radio frequency
- Automatic Meter Reading (AMR)
Based on end-user industry, the smart electricity meter market has been segmented into –
- Health care
- Logistics & Transportation
Smart Electricity Meter Market: Geographical Outlook
The global smart electricity meter market has been segmented into Asia-Pacific, South America, Europe, North America, and Middle East and Africa. North America dominates the global smart electricity meter market, followed by Asia-Pacific and Europe. Moreover, Asia-Pacific is the fastest growing region and is expected to project the highest CAGR in the world during the forecast period. The main growth in the region has been driven by numerous government measures to encourage smart electricity meters and increased investment in smart grid technology and smart cities.
Key Competitors in the Global Smart Electricity Meter Market
The global smart electricity meter market is highly fragmented, with the presence of a large number of players across the globe. Key players operating in the global smart electricity meter market include–
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- The Benchmarking Society
- Itron Incorporated
- Honeywell International Incorporated
- Aclara Technologies LLC
- Wasion Group Limited
- Embedded microchip technology
- Jiangsu Linyang Energy Company Limited
- Siemens AG
- Limited Holley Technology
- Osaki Electric Company Limited
- Neptune Technology
The Smart Electricity Meters Market report provides an in-depth analysis of macroeconomic factors and market attractiveness of each segment. The report will include an in-depth qualitative and quantitative assessment of the industry/regional outlook with the presence of market players in the respective segment and region/country. The information concluded in the report includes the entries.
Regional Analysis of Smart Electricity Meter Market Includes:
- North America (United States, Canada, Mexico)
- South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
- Europe (Germany, Italy, France, United Kingdom, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, Netherlands, Norway, Sweden, Denmark, Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, Philippines, Singapore, Australia and New Zealand, Rest of Asia-Pacific)
- The Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, North Africa, Rest of MEA)
Smart Electricity Meter Market: Target Audience
- Manufacturers of smart electricity meters
- Manufacturers of surgical equipment and personal protective equipment
- Manufacturers, Distributors and Healthcare Providers
- Trade publications and magazines
- Government authorities, associations and organizations
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