Global Smart Electricity Meter Market was valued US$9.49 Bn in 2018 and is estimated to reach US$XX Bn by 2026 at a CAGR of more than XX % during a forecast period.
Global Smart Electricity Meter Market By Phase
The increasing necessity for efficient data monitoring systems, joined with favorable government policies for a smart meter rollout, improved cost savings, growing investment in smart grid projects and increased emphasis on renewable energy sources is driving the market for smart electric meters. The main factor restraining the growth of the smart electric meter market are the delay in smart meter rollout projects and high initial investment acting as a restraint for progress in developing economies.
Smart Electricity Meter Market by communication technology type segment is classified into Radio Frequency, Power Line Communication, and Cellular. End-User segment classified into Residential, Commercial, and Industrial. Phase segment is classified into Single Phase, and Three Phase. Geographically split into North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
Based on communication technology type, the power line communication segment is growing at the highest CAGR of XX% during the forecast period. Power line communication is projected to dominate the market. The power line communication is the most usually used communication technology due to its benefits such as the use of the existing utility infrastructure of poles & wires, better cost-effectiveness for rural lines and usability in a challenging terrain. The technology is mature with open standards and several vendors in the market.
Based on end user, the residential segment of the smart electric meter market is anticipated to hold the XX% market share during the forecast period. The installation of smart electric meters in residential places would help in decreasing the dependence on fossil fuels, as the smart electric meters can assist the consumers to monitor, regularize and decrease their consumptions from the grid, further integrate their consumptions from renewable energy sources such as solar installations. The widespread use of sophisticated electrical, electronic, and data equipment is driven by the rising importance of power management solutions also driving the smart electric meter market.
Based on phase, the three phase segment is expected to grow at the highest CAGR of XX% and is projected to dominate the market during the forecast period. Three-phase meters are mostly used in industrial applications and in huge commercial applications. The premium bill for the three-phase meters over the single-phase meters, the growth in the number of industries and commercial facilities drive the installations of the three-phase smart electric meters.
Geographically, the market in Asia Pacific is expected to expand at a high CAGR of XX% during the forecast period. The growth in investments in smart grid technologies and smart cities, the increase in the number of data centers, a surge in IT hubs and commercial institutions drive the smart electric meter market in the region. All other regions are following to contribute the growth in smart electricity meter market.
The objective of the report is to present a comprehensive analysis of Global Smart Electricity Meter Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market are presented in the report.
External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Smart Electricity Meter Market dynamics, structure by analyzing the market segments and project the Global Smart Electricity Meter Market size. Clear representation of competitive analysis of key players By Type, Price, Financial position, Product portfolio, Growth strategies, and regional presence in the Global Smart Electricity Meter Market make the report investor’s guide.
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Scope of the Global Smart Electricity Meter Market
Global Smart Electricity Meter Market By Communication Technology Type:
• Radio Frequency
• Power Line Communication
Global Smart Electricity Meter Market By End-user:
Global Smart Electricity Meter Market By Phase:
• Single Phase
• Three Phase
Global Smart Electricity Meter Market By Region:
• North America
• Asia Pacific
• Latin America
• The Middle East and Africa
Key Player analysed in the Global Smart Electricity Meter Market:
• Jiangsu Linyang
• Aclara Technologies
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