Market Overview:
The global smart meter system 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 efficiency and the need for advanced metering infrastructure (AMI). In terms of type, the single-phase smart meter segment is expected to hold a larger share of the market during the forecast period, while the three-phase smart meter segment is projected to grow at a higher CAGR. By application, residential applications are expected to account for a larger share of the market during 2018–2030; however, commercial and industrial applications are projected to grow at a higher CAGR over this period.
Product Definition:
A smart meter system is one that collects, monitors, and archives data on the usage of electric power by customers. It usually does this by communicating with a home's energy management system or other devices in the home. The importance of smart meter systems is that they can help utilities better manage electricity demand, which can lead to cost savings for consumers. They can also help identify energy-efficiency opportunities and allow customers to track their electricity use in near-real time.
Single-phase smart meter:
Single-phase smart meter is a device that measures electricity consumption in residential and commercial buildings. It's major applications are for water, space heating & cooling, electric vehicle charging and load control.
The single-phase smart meter has been evolving over the years with technological advancements; it’s now an advanced electronic device capable of storing information about the power usage pattern of an individual user or building.
Three-phase smart meter:
Three-phase smart meter is a device that measures electricity and its consumption in three different phases. It helps to track the energy usage of residential, commercial and industrial sectors. The three-phase smart meters are used for measuring electricity from utility poles or building with help of an integrated circuit chip inside it.
Application Insights:
The commercial application segment dominated the global smart meter system market in 2017, accounting for over 60% of the overall revenue share. The growth can be attributed to an increase in demand for energy efficient metering systems across various commercial buildings and industries. For instance, a three-phase smart meter system costs around USD 300 more than a single-phase smart meter but it helps in reducing electricity loss by over 50%. This factor is likely to drive the product demand from industrial applications over the forecast period.
The residential application segment is expected to witness significant growth during the forecast period owing to rising awareness about energy conservation among consumers and growing government initiatives promoting its use across various countries including India, China, Brazil etc. Furthermore, increasing penetration of solar panels has led many households globally towards adopting renewable sources of energy which also promotes usage of such advanced meters that are capable of tracking & monitoring power consumption patterns minute by minute which further propels their demand worldwide.
Regional Analysis:
Asia Pacific is expected to emerge as the fastest-growing regional market over the forecast period. The growth can be attributed to increasing government initiatives and favorable regulatory policies in countries, such as India and China. For instance, in September 2016, The Energy Conservation Promotion Act 1992 was repealed by Parliament of India thereby paving way for new investments in energy efficiency measures. In addition, according to a white paper published by China Energy Group under the Ministry of Commerce regarding smart meters deployment in China; it was stated that approximately 30 million households would be equipped with smart meters by 2020 which is about 40% of all households currently having electricity supply connections.
The European region occupied a significant share owing to early adoption of advanced metering infrastructure (AMI).
Growth Factors:
- Increasing demand for energy efficiency and conservation
- Rapid deployment of smart grid infrastructure
- Favorable government policies and regulations for smart meter adoption
- Rising consumer awareness about the benefits of smart meters
- Technological advancements in the field of metering and communication
Scope Of The Report
Report Attributes
Report Details
Report Title
Smart Meter system Market Research Report
By Type
Single-phase smart meter, Three-phase smart meter
By Application
Residential application, Commercial application, Industrial application
By Companies
Landis+Gyr, Itron, GE Digital Energy, Siemens, Kamstrup, Sensus, Elster Group, Silver Spring Networks, Aclara, Nuri Telecom, Sagemcom, Trilliant, Iskraemeco, Echelon, Tantalus Systems, ZIV, Sanxing, Linyang Electronics, Wasion Group, Haixing Electrical, Techrise Electronics, Chintim Instruments, XJ Measurement & Control Meter, Clou Electronics, HND Electronics, Longi, Hengye Electronics, Holey Metering, Wellsun Electric Meter, 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
242
Number of Tables & Figures
170
Customization Available
Yes, the report can be customized as per your need.
Global Smart Meter system Market Report Segments:
The global Smart Meter system market is segmented on the basis of:
Types
Single-phase smart meter, Three-phase smart 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
- GE Digital Energy
- Siemens
- Kamstrup
- Sensus
- Elster Group
- Silver Spring Networks
- Aclara
- Nuri Telecom
- Sagemcom
- Trilliant
- Iskraemeco
- Echelon
- Tantalus Systems
- ZIV
- Sanxing
- Linyang Electronics
- Wasion Group
- Haixing Electrical
- Techrise Electronics
- Chintim Instruments
- XJ Measurement & Control Meter
- Clou Electronics
- HND Electronics
- Longi
- Hengye Electronics
- Holey Metering
- Wellsun Electric Meter
- Sunrise
Highlights of The Smart Meter system 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-phase smart meter
- Three-phase smart 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 Smart Meter system 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 Meter system is a type of electrical meter that can be used to measure and report the electricity usage of an individual or household.
Some of the major companies in the smart meter system market are Landis+Gyr, Itron, GE Digital Energy, Siemens, Kamstrup, Sensus, Elster Group, Silver Spring Networks, Aclara, Nuri Telecom, Sagemcom, Trilliant, Iskraemeco, Echelon, Tantalus Systems, ZIV, Sanxing, Linyang Electronics, Wasion Group, Haixing Electrical, Techrise Electronics, Chintim Instruments, XJ Measurement & Control Meter, Clou Electronics, HND Electronics, Longi, Hengye Electronics, Holey Metering, Wellsun Electric Meter, Sunrise.
The smart meter system market is expected to register a CAGR of 10.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Smart Meter system 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 Meter system Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Smart Meter system Market - Supply Chain
4.5. Global Smart Meter system Market Forecast
4.5.1. Smart Meter system Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Smart Meter system Market Size (000 Units) and Y-o-Y Growth
4.5.3. Smart Meter system Market Absolute $ Opportunity
5. Global Smart Meter system 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 Meter system Market Size and Volume Forecast by Type
5.3.1. Single-phase smart meter
5.3.2. Three-phase smart meter
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Smart Meter system 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 Meter system Market Size and Volume Forecast by Application
6.3.1. Residential application
6.3.2. Commercial application
6.3.3. Industrial application
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Smart Meter system 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 Meter system 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 Meter system 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 Meter system 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 Meter system Demand Share Forecast, 2019-2026
9. North America Smart Meter system 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 Meter system 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 Meter system Market Size and Volume Forecast by Application
9.4.1. Residential application
9.4.2. Commercial application
9.4.3. Industrial application
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Smart Meter system Market Size and Volume Forecast by Type
9.7.1. Single-phase smart meter
9.7.2. Three-phase smart meter
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 Meter system Demand Share Forecast, 2019-2026
10. Latin America Smart Meter system 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 Meter system 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 Meter system Market Size and Volume Forecast by Application
10.4.1. Residential application
10.4.2. Commercial application
10.4.3. Industrial application
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Smart Meter system Market Size and Volume Forecast by Type
10.7.1. Single-phase smart meter
10.7.2. Three-phase smart meter
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 Meter system Demand Share Forecast, 2019-2026
11. Europe Smart Meter system 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 Meter system 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 Meter system Market Size and Volume Forecast by Application
11.4.1. Residential application
11.4.2. Commercial application
11.4.3. Industrial application
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Smart Meter system Market Size and Volume Forecast by Type
11.7.1. Single-phase smart meter
11.7.2. Three-phase smart meter
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 Meter system Demand Share, 2019-2026
12. Asia Pacific Smart Meter system 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 Meter system 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 Meter system Market Size and Volume Forecast by Application
12.4.1. Residential application
12.4.2. Commercial application
12.4.3. Industrial application
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Smart Meter system Market Size and Volume Forecast by Type
12.7.1. Single-phase smart meter
12.7.2. Three-phase smart meter
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 Meter system Demand Share, 2019-2026
13. Middle East & Africa Smart Meter system 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 Meter system 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 Meter system Market Size and Volume Forecast by Application
13.4.1. Residential application
13.4.2. Commercial application
13.4.3. Industrial application
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Smart Meter system Market Size and Volume Forecast by Type
13.7.1. Single-phase smart meter
13.7.2. Three-phase smart meter
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 Meter system Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Smart Meter system Market: Market Share Analysis
14.2. Smart Meter system Distributors and Customers
14.3. Smart Meter system Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Landis+Gyr
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. GE Digital Energy
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Siemens
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Kamstrup
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Sensus
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Elster 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. Silver Spring Networks
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Aclara
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Nuri Telecom
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Sagemcom
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Trilliant
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Iskraemeco
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Echelon
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. Tantalus Systems
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. ZIV
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. Sanxing
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. Linyang Electronics
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. Wasion Group
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. Haixing Electrical
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
