Global Three-Phase Smart Meter Market by Type (Direct Current Meter, Alternating Current Meter), By Application (Residential Application, Commercial Application, Industrial Application) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

                                          

                                                                                       
Market Overview:

The global three-phase smart meter market is expected to grow at a CAGR of 6.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for energy efficiency and the need for advanced metering infrastructure (AMI). In addition, the growing awareness about climate change and its impact on human health is also driving the demand for three-phase smart meters. The direct current meter segment is expected to hold a major share of the global three-phase smart meter market during the forecast period. This can be attributed to their high accuracy and reliability in measuring electricity consumption.



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Product Definition:

A three-phase smart meter is a type of electrical meter that measures the amount of electricity used by each phase of a three-phase electrical system. They are important because they can help utilities more accurately bill customers for their usage, and can also help detect and prevent power outages.

Direct Current Meter:

DCM is a device used to measure the current or voltage in Direct Current (DC). It is also known as an ammeter. An increasing number of smart grid projects across the globe are expected to boost market growth over the forecast period.

The growing need for energy efficiency and conservation has led to a rise in demand for three-phase smart meters globally.

Alternating Current Meter:

An AC meter is a device used to measure the current or voltage and it switches between two alternate polarities of equal intensity. It is mainly used for measuring power in electric grids and electrical networks. An alternating current (AC) meter measures the strength of an AC waveform, which alternates between high and low values at a regular frequency.

Application Insights:

The residential application segment accounted for the largest share of over 70.0% in 2017. The growing demand for energy efficient products is expected to drive the growth of this segment over the forecast period. Moreover, a rise in consumer preference for using smart meters as they offer enhanced features and functionality is anticipated to further fuel product demand during this period.

The commercial application segment was valued at USD 1,227.5 million in 2017 owing to an increase in demand from large scale industrial facilities along with hospitals, educational institutions and hotels that require large amount of electricity on a daily basis throughout summer months when electricity rates are highest compared to other seasons due largely to increased usage by air conditioners.

Regional Analysis:

Asia Pacific is expected to be the fastest-growing regional market over the forecast period. The growth can be attributed to increasing penetration of three-phase smart meters in commercial and industrial applications. In 2017, China led the Asia Pacific market with a share of more than 50% owing to early adoption by consumers and large scale deployment by power generation companies for Meter Reading Unit (MRU) management system. Moreover, growing awareness about energy conservation among customers is anticipated to drive demand for three-phase smart meters in this region over the forecast period.

North America accounted for a significant share in terms of revenue due to early adoption by U.S., which was followed by Canada and Mexico as they were first introduced as standard equipment on new residential buildings since 2006 under National Electric Code (NEC).

Growth Factors:

Increasing demand for energy efficient solutions: The global Three-Phase 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.
Rising investments in smart grid infrastructure: Governments and private players are investing heavily in smart grid infrastructure, which is expected to drive the growth of the Three-Phase Smart Meter market during the forecast period.
Growing awareness about benefits of using smart meters: There is a growing awareness among consumers about the benefits of using smart meters, which is expected to fuel demand for Three-Phase Smart Meters during the forecast period.
Technological advancements: The development of innovative technologies such as two-way communication and cloud computing has led to an increase in adoption rates of Three-Phase Smart Meters, thereby driving market growth.


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Scope Of The Report
Report Attributes
Report Details
Report Title
Three-Phase 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
143
Number of Tables & Figures
101
Customization Available
Yes, the report can be customized as per your need.

Global Three-Phase Smart Meter Market Report Segments:
The global Three-Phase 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



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Highlights of The Three-Phase 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 Three-Phase 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.
How you may use our products:
Correctly Positioning New Products
Market Entry Strategies
Business Expansion Strategies
Consumer Insights
Understanding Competition Scenario
Product & Brand Management
Channel & Customer Management
Identifying Appropriate Advertising Appeals



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

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