Global Smart Meters Market Size, Share Growth, Trends, Revenue and Forecasts Report to 2023

Market Overview:-

Smart grid projects are gaining more traction during past few years. Hence, increasing investment in smart grid projects is the major factor driving the growth of the market. Additionally, increasing upgradation of transmission & distribution infrastructure across the globe is also fuelling the growth of the market. Furthermore, several supportive initiatives by various governments upsurge the growth of the market. However, high initial investment, is the major factor that may hamper the growth of the market.

According to a recent study report published by the Market Research Future, The global Smart Meters Market is booming and expected to gain prominence over the forecast period. The global Smart Meters market is forecasted to demonstrate an exponential growth by 2023, surpassing its previous growth records in terms of value with a whooping, CAGR of 9.55% during the estimated period (2017 – 2023).

 

Industry Top Key Players:-

The key players of global Smart Meters market are Itron, Inc. (U.S.), Siemens AG (Germany), Sensus (Xylem) (U.S.), Badger Meter, Inc. (U.S.), Aclara Technologies, LLC. (U.S.), Kamstrup A/S (Denmark), Holley Metering, Ltd. (China), Honeywell International, Inc. (U.S.), Wasion Group (China), and Toshiba Corporation (Japan).

 

Industry News:-

In April 2017, Schneider Electric Taiwan has announced an agreement with Naya Raipur Development Authority (NRDA) for the development of the first green field integrated smart city of Naya Raipur, Chhattisgarh. The project will be executed by Schneider Electric along with consortium partner, IL&FS Technologies Limited. The contract was signed between Schneider Electric Taiwan, IL&FS Technologies Limited and Naya Raipur Development Authority

In February 2017, Landis+Gyr has been selected to supply advanced metering infrastructure technology to support grid modernization initiatives of Comision Federal de Electricidad (CFE), the state-owned electric utility of Mexico.

 

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Scope of the Report:-

This study provides an overview of the global smart meters market, tracking three market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and ROW. The report also provides a forecast, focusing on the market opportunities for the next six years for each region. The scope of the study segments the global smart meters market by its on type, technology, application and region.

By Type

• Smart Electricity Meters


• Smart Gas Meters


• Smart Water Meters

 

By Technology

• Automatic Meter Reading (AMR)


• Advanced Metering Infrastructure (AMI)

 

By Application

• Residential


• Commercial


• Industrial

 

By Region

• North America


• Asia-Pacific 


• Europe


• ROW

 

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Global Smart Meters Market - Regional Analysis

Asia Pacific region dominates the smart meters market. Increasing smart cities projects in countries like China, India, Thailand and others pouring the growth of the market. Moreover, the demand for energy in the region is very high due to the growing population and improvement in the lifestyle in the region. This leads to an increase in investment in T&D, which upsurges the demand of the market. India, China, and Japan are the major markets in the region. China’s commitment to green development will lead to a tremendous need for smart grid technologies.

Europe is another major market for the smart meters. Several countries in Europe have endorsed legislation mandating adoption of smart meters, as part of broader clean energy initiatives. This increases the demand of the market during the forecast period. Germany, U.K, and Spain are the major markets in the Europe.