PUBLISHER: Acute Market Reports | PRODUCT CODE: 1313705
PUBLISHER: Acute Market Reports | PRODUCT CODE: 1313705
Smart electricity meter market expected to Grow at 8.1% by 2031, With the growing consumption of energy worldwide, better energy monitoring system is required to track energy usage. Ever rising electricity consumption coupled with wastage has become a concern for both utilities as well as consumers. Today's world is of data analytics and details related to energy usage as well as wastage can help to reduce energy wastage. Conventional electric meter does not provide detail usage data for energy consumption. Hence smart energy are required to over shortcomings of conventional meter.
Smart electricity meter is an electronic device that registers amount of energy consumed by the user in predetermined time interval and transmits the same to both consumer as well as utility provider for further monitoring and billing. It provides a twoway mode of communication to the central power grid. Smart electricity meters are equipped with real time sensors to monitor load penetration on the generation and distribution system. It helps the utility companies to provide valuation based on the specific time for consumption of electricity. This system also benefits the consumers as they can track their consumption and billing process which is otherwise the most objectionable subject between them and utility companies.
The governments across different countries are investing fortunes for developing new residential as well as commercial infrastructures. They are also striving to make cities smarter for better administration. All these factors provide a large horizon for the market of smart electric meters to grow. Countries such as U.K., Germany, USA has already started to invest in smart energy meters. Developing countries are also trying to adapt smart energy meter for better energy consumptions. Consequently, the smart electricity meter market is set to witness profound growth in the coming years.
Holley Metering Ltd, Itron, Landis+gyr, Jiangsu Linyang Electronics Co., Ltd, Delixi Group Co. Ltd., eneral Electric, Schneider Electric SA, Siemens AG, Elster Group, Iskraemeco, Badger Meter, EDMI, Neptune Technology Group Inc., Sensus, Honeywell International Inc., Kaifa Technology, Suntront Technology, Kamstrup Company, Aichi Tokei Denkei, Wasion Group And Other Notable Players.
This study report represents analysis of each segment from 2021 to 2031 considering 2022 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2023 to 2031.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation ofSmart Electricity Meter market are as follows:
Micro and macro environment factors that are currently influencing the Smart Electricity Meter market and their expected impact during the forecast period.
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
FIG. 9Market Positioning of Key Smart Electricity Meter Market Players, 2022
FIG. 10Global Smart Electricity Meter Market - Tier Analysis - Percentage of Revenues by Tier Level, 2022 Versus 2031