Market Overview:
The global prepaid metering 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 prepaid meters for commercial and industrial applications, and the rising awareness about energy conservation among consumers. The global prepaid metering market is segmented on the basis of type, application, and region. On the basis of type, the market is segmented into hardware, software, and services. Hardware accounted for a major share of the global prepaid metering market in 2017 owing to its wide adoption across various applications such as commercial, industrial, and residential sectors. Software is expected to grow at a higher CAGR during the forecast period due to its growing demand from end-use industries for advanced billing solutions that offer enhanced customer experience. Services are further sub-segmented into installation & commissioning services; maintenance & support services; consulting & training services; and others (including system integration).
Product Definition:
Prepaid metering is a system of billing in which customers pay for energy before they use it. This system is often used as a way to manage energy consumption, as it can help to prevent overuse and encourage conservation.
Hardware:
Hardware is the part of a system that includes devices such as smart meters, time switches, and controllers. Hardware is used in the process of measuring & controlling electricity usage for specific applications. The factors that propel growth include increasing government regulations on energy consumption along with rising consumer awareness towards conservation of energy resources. Additionally, technological advancements in hardware such as remote reading and smart grids are also expected to drive market growth over the forecast period.
Software:
Software is a collection of programs and routines that allows the computer to carry out a specific task. In case of Prepaid Metering (PM) systems, software controls the electric meters in order to record consumption data for later transmission to an energy supplier. The various types of software used in PM include smart, embedded, mobile and web-based among others. Smart software is capable of learning as it is used more frequently than other types thereby making it efficient for use in PM systems.
Application Insights:
The commercial segment held the largest share of more than 60.0% in 2017. The growth can be attributed to the increasing number of commercial buildings, such as shopping malls, office complexes and hotels across the globe. In addition, growing construction activities for new commercial buildings is expected to drive demand over the forecast period.
The industrial segment is anticipated to witness significant growth over the forecast period owing to an increase in manufacturing activities across various industries globally including automotive and electronics sectors. Growing investments by governments in infrastructure development are also expected to play a key role in driving industry expansion over the coming years.
In addition, technological advancements coupled with metering equipment installation at appropriate places ensure efficient usage of electricity.
Regional Analysis:
Asia Pacific region accounted for the largest revenue share in 2017 and is expected to continue its dominance over the forecast period. The growth can be attributed to increasing penetration of electricity metering systems in rural areas as well as urban centers across India, China, Japan, South Korea and Taiwan. Moreover, growing awareness regarding billing errors among customers has prompted industry players to offer various services such as free installation of meters or replacement of old inaccurate meters with new accurate ones. In addition, government initiatives such as “Digital India†program by the Indian government are expected to open new avenues for market participants over the next eight years.
The European regional market is anticipated to register a significant CAGR from 2018 till 2030 owing to rising demand for energy management solutions among industrial facilities located throughout Italy.
Growth Factors:
- Increasing demand for prepaid metering from small and medium-sized businesses (SMBs) due to the benefits of prepaid metering, such as improved cash flow, reduced administrative costs, and improved control over energy consumption.
- Proliferation of smart meters and the growth of the Internet of Things (IoT) will enable more real-time data collection and analysis, which will help drive further adoption of prepaid metering among commercial and industrial customers.
- The increasing cost of electricity is motivating many consumers to adopt prepaid meters as a way to better manage their energy expenses.
- Governments are increasingly promoting the use of prepaid meters as a way to reduce non-payment rates for electricity bills, improve revenue collection efficiency, and combat fraud or meter tampering.
- . The growing popularity of renewable energy sources such as solar panels is also helping to drive demand for prepayment solutions that can help manage peak power demands on the grid
Scope Of The Report
Report Attributes
Report Details
Report Title
Prepaid Metering Market Research Report
By Type
Hardware, Software, Services
By Application
Commercial, Industrial, Residential
By Companies
GE Digital Energy, Itron, Landys+Gyr, Schneider Electric, Siemens Energy, Echelon Corporation, Elster Group, Xylem Inc
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
211
Number of Tables & Figures
148
Customization Available
Yes, the report can be customized as per your need.
Global Prepaid Metering Market Report Segments:
The global Prepaid Metering market is segmented on the basis of:
Types
Hardware, Software, Services
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
Commercial, Industrial, Residential
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:
- GE Digital Energy
- Itron
- Landys+Gyr
- Schneider Electric
- Siemens Energy
- Echelon Corporation
- Elster Group
- Xylem Inc
Highlights of The Prepaid Metering 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:
- Hardware
- Software
- Services
- By Application:
- Commercial
- Industrial
- Residential
- 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 Prepaid Metering 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.
How you may use our products:
- Correctly Positioning New Products
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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?
Prepaid metering is a billing and metering system where customers prepay for their electricity usage in advance. This allows utilities to more accurately predict energy use, which can help them plan for future needs and save money on their electric bills.
Some of the major companies in the prepaid metering market are GE Digital Energy, Itron, Landys+Gyr, Schneider Electric, Siemens Energy, Echelon Corporation, Elster Group, Xylem Inc.
The prepaid metering market is expected to register a CAGR of 6.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Prepaid Metering 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 Prepaid Metering Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Prepaid Metering 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 Prepaid Metering 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 Prepaid Metering Market Size & Forecast, 2018-2028
4.5.1 Prepaid Metering Market Size and Y-o-Y Growth
4.5.2 Prepaid Metering Market Absolute $ Opportunity
Chapter 5 Global Prepaid Metering 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 Prepaid Metering Market Size Forecast by Type
5.2.1 Hardware
5.2.2 Software
5.2.3 Services
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Prepaid Metering 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 Prepaid Metering Market Size Forecast by Applications
6.2.1 Commercial
6.2.2 Industrial
6.2.3 Residential
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Prepaid Metering 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 Prepaid Metering 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 Prepaid Metering Analysis and Forecast
9.1 Introduction
9.2 North America Prepaid Metering 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 Prepaid Metering Market Size Forecast by Type
9.6.1 Hardware
9.6.2 Software
9.6.3 Services
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 Prepaid Metering Market Size Forecast by Applications
9.10.1 Commercial
9.10.2 Industrial
9.10.3 Residential
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 Prepaid Metering Analysis and Forecast
10.1 Introduction
10.2 Europe Prepaid Metering 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 Prepaid Metering Market Size Forecast by Type
10.6.1 Hardware
10.6.2 Software
10.6.3 Services
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 Prepaid Metering Market Size Forecast by Applications
10.10.1 Commercial
10.10.2 Industrial
10.10.3 Residential
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 Prepaid Metering Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Prepaid Metering 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 Prepaid Metering Market Size Forecast by Type
11.6.1 Hardware
11.6.2 Software
11.6.3 Services
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 Prepaid Metering Market Size Forecast by Applications
11.10.1 Commercial
11.10.2 Industrial
11.10.3 Residential
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 Prepaid Metering Analysis and Forecast
12.1 Introduction
12.2 Latin America Prepaid Metering 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 Prepaid Metering Market Size Forecast by Type
12.6.1 Hardware
12.6.2 Software
12.6.3 Services
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 Prepaid Metering Market Size Forecast by Applications
12.10.1 Commercial
12.10.2 Industrial
12.10.3 Residential
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) Prepaid Metering Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Prepaid Metering 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) Prepaid Metering Market Size Forecast by Type
13.6.1 Hardware
13.6.2 Software
13.6.3 Services
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) Prepaid Metering Market Size Forecast by Applications
13.10.1 Commercial
13.10.2 Industrial
13.10.3 Residential
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 Prepaid Metering Market: Competitive Dashboard
14.2 Global Prepaid Metering Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 GE Digital Energy
14.3.2 Itron
14.3.3 Landys+Gyr
14.3.4 Schneider Electric
14.3.5 Siemens Energy
14.3.6 Echelon Corporation
14.3.7 Elster Group
14.3.8 Xylem Inc
