Market Overview:
The global smart electric meters market is expected to grow at a CAGR of 10.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for energy-efficient solutions and the growing need for advanced metering infrastructure (AMI). In addition, the rising concerns over climate change are also propelling the growth of this market. The global smart electric meters market is segmented on the basis of type, application, and region. On the basis of type, it is divided into single-phase and three-phase meters. Single-phase meters are more common as compared to three-phase meters and account for a larger share in terms of revenue in 2017.
Product Definition:
A Smart Electric Meter is a digital meter that records electricity usage in real-time. This data can then be used to help customers understand their energy use and make more informed decisions about how to conserve energy. Smart Electric Meters are also able to send this data remotely, which allows utility companies to track and manage energy use more efficiently.
Single:
Single is a low power wireless technology designed to operate in unlicensed radio frequency spectrum. It can be used for communication between two devices or between a device and the cloud, hence it’s being termed as “fourth generation” communications technology. The major driving factors responsible for market growth include growing demand from smart grid applications, increasing penetration of smartphones & tablets along with rising consumer awareness regarding cost-effective energy management solutions.
Three:
The three is a unit of power measurement which is used for measuring the electricity consumption in an electric meter. It represents the amount of energy consumed by running appliances such as heating, air-conditioning and lighting at a certain rate. The traditional electric meters had only two values, i.e., off and on which represented whether or not the circuit was active but did not differentiate between high or low energy consuming devices like modern smart meters do.
Application Insights:
The industrial segment dominated the global smart electric meters market in terms of revenue share in 2017. The growth can be attributed to the rapidly expanding manufacturing sector across various economies. Industrial applications include power generation, oil & gas, and food & beverage among others. These industries require a large amount of electricity on a daily basis and hence need efficient metering systems that help reduce energy wastage as well as costs incurred for over-production or under-production of electricity supply. Smart meters provide real-time data which helps operators manage their production more efficiently thereby driving its adoption rate in industrial applications across various regions globally.
The commercial segment is expected to witness significant growth over the forecast period owing to growing demand from commercial buildings such as shopping malls, offices, hotels among others for accurate metering and billing purposes respectively with high reliability standards at an affordable cost coupled with easy installation procedures compared to other conventional methods used for measuring electrical consumption such as ammeters or voltmeters which are time consuming.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing regional segment over the forecast period. The region accounted for a revenue share of over 35% in 2017 and is anticipated to continue its dominance till 2030. This growth can be attributed to increasing demand for smart electric meters in China, Japan, South Korea, Taiwan and India among other countries. In addition, rising investments by governments in these countries are likely to boost market growth during the forecast period. For instance; In May 2018; The Government of India announced “UJALA Scheme†under which it distributes free electricity connections across rural areas of the country through anganwadis (village welfare committees).
Growth Factors:
- Increasing demand for energy efficient solutions: The global market for smart electric meters is expected to grow at a CAGR of more than 12% from 2016 to 2020. This growth can be attributed to the increasing demand for energy efficient solutions across the globe. Smart electric meters help in reducing wastage of energy and improving the overall efficiency of electricity distribution networks.
- Government initiatives and regulations: Governments around the world are promoting the installation of smart electric meters in an effort to improve grid reliability, reduce greenhouse gas emissions, and promote energy conservation. For instance, in 2015, China announced a plan to install 300 million smart electric meters by 2020. Such government initiatives are expected to drive the growth of the global market for smart electric meters during the forecast period.
- Growing investments in renewable energy: The increasing investments in renewable sources of energy such as solar and wind power is another major factor drivingthe growthof themarketforsmartelectricmeters .Renewablesourcesofenergyare becoming more affordable with timeand this isexpectedtoresultinanincreaseinthedemandforthesmartelectricmetersthatcanmeasureandsupportsuchrenewableenergiesourcesintegrationinto electrical grids .
Scope Of The Report
Report Attributes
Report Details
Report Title
Smart Electric Meters Market Research Report
By Type
Single, Three
By Application
Industrial, Commercial, Residential
By Companies
Landis+Gyr (Toshiba Corporation), Itron, Honeywell, Aclara, Microchip Technology, Iskraemeco, Wasion Group, Schneider Electric, Jiangsu Linyang, Siemens, Genus Power Infrastructure, Networked Energy Services, Holley Metering
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
234
Number of Tables & Figures
164
Customization Available
Yes, the report can be customized as per your need.
Global Smart Electric Meters Market Report Segments:
The global Smart Electric Meters market is segmented on the basis of:
Types
Single, Three
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
Industrial, Commercial, 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:
- Landis+Gyr (Toshiba Corporation)
- Itron
- Honeywell
- Aclara
- Microchip Technology
- Iskraemeco
- Wasion Group
- Schneider Electric
- Jiangsu Linyang
- Siemens
- Genus Power Infrastructure
- Networked Energy Services
- Holley Metering
Highlights of The Smart Electric Meters 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:
- Single
- Three
- By Application:
- Industrial
- Commercial
- 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 Smart Electric Meters 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?
A smart electric meter is a type of electronic meter that can be remotely monitored and controlled from a central location. This allows utilities to more accurately estimate energy use, identify potential savings opportunities, and provide customers with real-time information about their electricity usage.
Some of the major companies in the smart electric meters market are Landis+Gyr (Toshiba Corporation), Itron, Honeywell, Aclara, Microchip Technology, Iskraemeco, Wasion Group, Schneider Electric, Jiangsu Linyang, Siemens, Genus Power Infrastructure, Networked Energy Services, Holley Metering.
The smart electric meters market is expected to register a CAGR of 10.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Smart Electric Meters Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Smart Electric Meters Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Smart Electric Meters Market - Supply Chain
4.5. Global Smart Electric Meters Market Forecast
4.5.1. Smart Electric Meters Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Smart Electric Meters Market Size (000 Units) and Y-o-Y Growth
4.5.3. Smart Electric Meters Market Absolute $ Opportunity
5. Global Smart Electric Meters Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Smart Electric Meters Market Size and Volume Forecast by Type
5.3.1. Single
5.3.2. Three
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Smart Electric Meters Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Smart Electric Meters Market Size and Volume Forecast by Application
6.3.1. Industrial
6.3.2. Commercial
6.3.3. Residential
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Smart Electric Meters Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Smart Electric Meters Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Smart Electric Meters Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Smart Electric Meters Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Smart Electric Meters Demand Share Forecast, 2019-2026
9. North America Smart Electric Meters Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Smart Electric Meters Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Smart Electric Meters Market Size and Volume Forecast by Application
9.4.1. Industrial
9.4.2. Commercial
9.4.3. Residential
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Smart Electric Meters Market Size and Volume Forecast by Type
9.7.1. Single
9.7.2. Three
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Smart Electric Meters Demand Share Forecast, 2019-2026
10. Latin America Smart Electric Meters Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Smart Electric Meters Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Smart Electric Meters Market Size and Volume Forecast by Application
10.4.1. Industrial
10.4.2. Commercial
10.4.3. Residential
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Smart Electric Meters Market Size and Volume Forecast by Type
10.7.1. Single
10.7.2. Three
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Smart Electric Meters Demand Share Forecast, 2019-2026
11. Europe Smart Electric Meters Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Smart Electric Meters Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Smart Electric Meters Market Size and Volume Forecast by Application
11.4.1. Industrial
11.4.2. Commercial
11.4.3. Residential
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Smart Electric Meters Market Size and Volume Forecast by Type
11.7.1. Single
11.7.2. Three
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Smart Electric Meters Demand Share, 2019-2026
12. Asia Pacific Smart Electric Meters Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Smart Electric Meters Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Smart Electric Meters Market Size and Volume Forecast by Application
12.4.1. Industrial
12.4.2. Commercial
12.4.3. Residential
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Smart Electric Meters Market Size and Volume Forecast by Type
12.7.1. Single
12.7.2. Three
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Smart Electric Meters Demand Share, 2019-2026
13. Middle East & Africa Smart Electric Meters Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Smart Electric Meters Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Smart Electric Meters Market Size and Volume Forecast by Application
13.4.1. Industrial
13.4.2. Commercial
13.4.3. Residential
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Smart Electric Meters Market Size and Volume Forecast by Type
13.7.1. Single
13.7.2. Three
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Smart Electric Meters Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Smart Electric Meters Market: Market Share Analysis
14.2. Smart Electric Meters Distributors and Customers
14.3. Smart Electric Meters Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Landis+Gyr (Toshiba Corporation)
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Itron
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Honeywell
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Aclara
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Microchip Technology
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Iskraemeco
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Wasion Group
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Schneider Electric
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Jiangsu Linyang
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Siemens
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Genus Power Infrastructure
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Networked Energy Services
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Holley Metering
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
