Smart Meters Market Size, Competitive Analysis and Industry Share | Global Industry Revenue, Statistics and Forecast to 2023

Report Abstract:-

This MRFR report offers an exhaustive analysis of the global market for smart meters along with a six-year (2017-2023) revenue forecast. It also includes an assessment of key market growth drivers and threats that are likely to arise during the review period. As a part of the assessment, major types of smart meters such as electric meters, gas meters, and water meters have been profiled in the report. The two prominent smart meter technologies identified are automatic meter reading (AMR) and advanced metering infrastructure (AMI). Revenue analysis on the basis of major application areas of smart meters cover residential, commercial and water meters.

 

Market Highlights:-

Smart meters have increased in popularity lately due to the need for high accuracy in meter readings while simultaneously achieving savings due to real time results. The real-time results in smart meters are enabled due to a secure national communication network (called the DCC) wirelessly and automatically sends the actual energy usage data to your provider. As the billing of energy output for gas and electricity is significantly reliant on meters, the demand for smart meters has grown gradually in the past few years due to the efficiency offered by them. The Smart Meters Market is projected to make revenues worth USD 29,583.1 million while expanding at a CAGR of 9.55 percent approximately in the duration of the forecast period from 2017 to 2023.

  

Top Key Players:-

Schneider Electric (France), Siemens AG. (Germany), Landis+Gyr (Switzerland), Xylem, Inc. (U.S.), Aclara Technologies LLC (U.S.), and Badger Meter, Inc. (U.S.). Honeywell International Inc. (U.S.), Itron Inc. (U.S.), EDMI (Singapore), Apator Group (Poland), DIEHL Metering (Germany), Zenner (Germany), and Kamstrup A/S (Denmark)

The report includes company profiles of leading market players along with their current market share. Company information with regards to revenue, segmental share, geographical income, SWOT, growth strategies, new product launch, M&A activities, and the latest R&D initiatives is also available in the report.

 

Get Sample Report @ https://www.marketresearchfuture.com/sample_request/4361 

 

Market Research Analysis:-

The North American region is another key market for smart meters. Government policy mandates and fiscal incentives have been the key drivers for the demand for smart meters. Also, the region is the hub for critical manufacturers, who are a positive influence on the development of the market. Hence, the North American smart meter market is anticipated to develop at a CAGR of 9.46 percent throughout the forecast period. The U.S. is one of the primary markets for smart meters. More than 30 electric companies in the United States have fully deployed smart meters. The Asia Pacific region is another main market for smart meter globally. Growing smart cities projects in countries like China, India, Thailand, and others which is driving the growth of the market. Also, the demand for energy in the region is high due to the escalating population level and enhancement in the lifestyle in the region. This has led to an upsurge in investment in T&D, which will raise the demand of the market. The Asia Pacific region is estimated to develop at an increased CAGR of 9.91 percent through the forecast period.

 

Segmental Analysis:-

The segment-wise analysis of the market is carried out on the basis of type, technology, and application. By type, the segment comprises of electric meters, gas meters and water meters. Electric meters lead the type segment of the smart meter market. They are the most extensively used smart meter type. It accounted for the market share of 55.6 percent in 2016. The segment is expected to grow at 9.56 percent CAGR during the forecast period. The technology-based segmentation of the market comprises of advanced metering infrastructure (AMI) and automatic meter reading (AMR). AMI is projected to be the most rapidly rising technology of the market. AMI is expected to grow at a fast CAGR of 9.77 percent during the forecast period. The application based segmentation of the market comprises of residential, commercial and industrial. The residential segment is the top rising segment in the global smart meter market owing to the growing population and urbanization. The segment is likely to develop at 9.81 percent CAGR during the forecast period.

 

Major Points of TOC:-

1  Executive Summary

2  Introduction

3  Research Methodology

 

Access Complete Report @ https://www.marketresearchfuture.com/reports/smart-meters-market-4569 

 

4  Market Dynamics

4.1 Drivers 22

4.1.1 Growing Investment In Smart Grid Projects 22

4.1.2 Supportive Government Initiatives 22

4.1.3 Demand/Needs For Efficient Energy Usage 24

4.2 Restraint 24

4.2.1 High Initial Capital Investment 24

4.2.2 Lack Of Awareness 24

4.3 Opportunities 25

4.3.1 Scope In The Developing Nations 25

4.3.2 Technological Development 25

Continued..........