Market Overview:
The global induction smart meter market is expected to grow at a CAGR of 6.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for energy-efficient and advanced metering infrastructure (AMI) across the globe. In addition, the growing need for real-time data analytics and remote monitoring is also propelling the growth of this market. The direct current meter segment is expected to hold a dominant position in the global induction smart meter market during the forecast period. This can be attributed to its high efficiency and low power consumption as compared to other types of meters available in this market. The commercial application segment is projected to register highest CAGR during 2018–2030 owing rising demand from various industrial sectors such as automotive, oil & gas, food & beverage, etc.
Product Definition:
An induction smart meter is a type of electrical meter that uses induction to measure the amount of electricity used by a customer. The importance of an induction smart meter is that it is more accurate than other types of meters and can help reduce energy consumption.
Direct Current Meter:
DCM is a device used to measure the flow of direct current. It is an electronic device which converts the alternating current to direct current and vice-versa. The DCM can be further classified into two types, namely AC/DC convertor and battery operated measuring devices.
Alternating Current Meter:
An alternating current (AC) meter is a device used to measure the electrical power that comes from an AC source such as a utility. It can be used for measuring electricity in home, industries, and other commercial places. The main function of an AC meter is to indicate whether the power being consumed is normal or abnormal; it does this by switching between two different current levels.
Application Insights:
The residential application segment accounted for the largest revenue share of over 70% in 2017. The growing demand for electricity and gas supply is leading to an increase in the number of smart meters installed at homes, apartments and commercial buildings. This has led to a significant rise in demand across various regions.
The commercial application segment is expected to witness the fastest growth rate over the forecast period owing to rising adoption of smart meters by power distribution companies, electric utilities, oil & gas companies and transportation authorities among others. These metering systems are used for measuring electricity or gas consumption on a large scale so that they can be billed accordingly or so that usage patterns can be analyzed remotely which will help reduce energy costs as well as greenhouse emissions significantly over time since these agencies have long term contracts with energy suppliers regarding reducing such emissions through technological advancements made possible by metering systems like these Induction Smart Meters.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing regional market over the forecast period. The growth can be attributed to increasing demand for electricity in developing economies, such as India and China. In addition, rising penetration of electricity infrastructure in these countries is anticipated to fuel product demand further. For instance, according to a paper published by World Bank Group titled “ electrification rate decline: Implications for development strategy†in 2015 stated that electrification rate increased from 37% in 2011 to 42% of population across India during 2014-15 compared with previous year.
The Middle East & Africa region accounted for a significant share owing its large oil & gas reserves which are used as feedstock for producing energy commodities including electric power.
Growth Factors:
- Increasing demand for energy efficient solutions: The global induction smart meter market is expected to grow at a CAGR of over 9% during the forecast period. This can be attributed to the increasing demand for energy efficient solutions across the globe. Induction smart meters are more accurate and consume less power as compared to traditional meters, which is driving their adoption among consumers and utilities alike.
- Government initiatives supporting smart grid deployments: Governments around the world are promoting the deployment of smart grids in order to modernize aging infrastructure, reduce greenhouse gas emissions, and improve energy security. This is providing a boost to the induction smart meter market as utilities are increasingly investing in these advanced metering systems.
- Rapid urbanization and industrialization: The growth of cities and industries is leading to an increase in electricity consumption, which is fueling demand for inductionsmart meters worldwide. In addition, rising income levels are enabling consumers in developing countries to upgrade their appliances and switch overto more energy-efficient ones, thereby boostingthe adoptionof inductionsmartmeters .
- . Technological advancements: The development of new technologies such as cloud computingand big data analyticsis aidingthe expansionof theelectricity sectorand facilitatingtheadoptionofinductionsmartmeters . These technological advancements are helping utilities manage their networksmore efficientlyandreducingoperatingcostsassociatedwithtraditionalmetering systems .
Scope Of The Report
Report Attributes
Report Details
Report Title
Induction Smart Meter Market Research Report
By Type
Direct Current Meter, Alternating Current Meter
By Application
Residential Application, Commercial Application, Industrial Application
By Companies
Landis+Gyr, Itron, Siemens, Kamstrup, Elster Group, Nuri Telecom, Sagemcom, Iskraemeco, ZIV, Sanxing, Linyang Electronics, Wasion Group, Haixing Electrical, XJ Measurement & Control Meter, Chintim Instruments, Clou Electronics, Holley Metering, HND Electronics, Longi, Banner, Sunrise
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
121
Number of Tables & Figures
85
Customization Available
Yes, the report can be customized as per your need.
Global Induction Smart Meter Market Report Segments:
The global Induction Smart Meter market is segmented on the basis of:
Types
Direct Current Meter, Alternating Current Meter
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Residential Application, Commercial Application, Industrial Application
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Landis+Gyr
- Itron
- Siemens
- Kamstrup
- Elster Group
- Nuri Telecom
- Sagemcom
- Iskraemeco
- ZIV
- Sanxing
- Linyang Electronics
- Wasion Group
- Haixing Electrical
- XJ Measurement & Control Meter
- Chintim Instruments
- Clou Electronics
- Holley Metering
- HND Electronics
- Longi
- Banner
- Sunrise
Highlights of The Induction Smart Meter Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Direct Current Meter
- Alternating Current Meter
- By Application:
- Residential Application
- Commercial Application
- Industrial Application
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Induction Smart Meter Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
An induction smart meter is a type of electricity meter that uses an electromagnetic field to measure the amount of electricity used by a customer. The meter communicates with the customer's electric utility company to report usage.
Some of the key players operating in the induction smart meter market are Landis+Gyr, Itron, Siemens, Kamstrup, Elster Group, Nuri Telecom, Sagemcom, Iskraemeco, ZIV, Sanxing, Linyang Electronics, Wasion Group, Haixing Electrical, XJ Measurement & Control Meter, Chintim Instruments, Clou Electronics, Holley Metering, HND Electronics, Longi, Banner, Sunrise.
The induction smart meter market is expected to grow at a compound annual growth rate of 6.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Induction Smart Meter Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Induction Smart Meter Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Induction Smart Meter Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Induction Smart Meter Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Induction Smart Meter Market Size & Forecast, 2018-2028
4.5.1 Induction Smart Meter Market Size and Y-o-Y Growth
4.5.2 Induction Smart Meter Market Absolute $ Opportunity
Chapter 5 Global Induction Smart Meter Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Induction Smart Meter Market Size Forecast by Type
5.2.1 Direct Current Meter
5.2.2 Alternating Current Meter
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Induction Smart Meter Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Induction Smart Meter Market Size Forecast by Applications
6.2.1 Residential Application
6.2.2 Commercial Application
6.2.3 Industrial Application
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Induction Smart Meter Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Induction Smart Meter Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Induction Smart Meter Analysis and Forecast
9.1 Introduction
9.2 North America Induction Smart Meter Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Induction Smart Meter Market Size Forecast by Type
9.6.1 Direct Current Meter
9.6.2 Alternating Current Meter
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Induction Smart Meter Market Size Forecast by Applications
9.10.1 Residential Application
9.10.2 Commercial Application
9.10.3 Industrial Application
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Induction Smart Meter Analysis and Forecast
10.1 Introduction
10.2 Europe Induction Smart Meter Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Induction Smart Meter Market Size Forecast by Type
10.6.1 Direct Current Meter
10.6.2 Alternating Current Meter
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Induction Smart Meter Market Size Forecast by Applications
10.10.1 Residential Application
10.10.2 Commercial Application
10.10.3 Industrial Application
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Induction Smart Meter Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Induction Smart Meter Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Induction Smart Meter Market Size Forecast by Type
11.6.1 Direct Current Meter
11.6.2 Alternating Current Meter
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Induction Smart Meter Market Size Forecast by Applications
11.10.1 Residential Application
11.10.2 Commercial Application
11.10.3 Industrial Application
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Induction Smart Meter Analysis and Forecast
12.1 Introduction
12.2 Latin America Induction Smart Meter Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Induction Smart Meter Market Size Forecast by Type
12.6.1 Direct Current Meter
12.6.2 Alternating Current Meter
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Induction Smart Meter Market Size Forecast by Applications
12.10.1 Residential Application
12.10.2 Commercial Application
12.10.3 Industrial Application
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Induction Smart Meter Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Induction Smart Meter Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Induction Smart Meter Market Size Forecast by Type
13.6.1 Direct Current Meter
13.6.2 Alternating Current Meter
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Induction Smart Meter Market Size Forecast by Applications
13.10.1 Residential Application
13.10.2 Commercial Application
13.10.3 Industrial Application
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Induction Smart Meter Market: Competitive Dashboard
14.2 Global Induction Smart Meter Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Landis+Gyr
14.3.2 Itron
14.3.3 Siemens
14.3.4 Kamstrup
14.3.5 Elster Group
14.3.6 Nuri Telecom
14.3.7 Sagemcom
14.3.8 Iskraemeco
14.3.9 ZIV
14.3.10 Sanxing
14.3.11 Linyang Electronics
14.3.12 Wasion Group
14.3.13 Haixing Electrical
14.3.14 XJ Measurement & Control Meter
14.3.15 Chintim Instruments
14.3.16 Clou Electronics
14.3.17 Holley Metering
14.3.18 HND Electronics
14.3.19 Longi
14.3.20 Banner
14.3.21 Sunrise
