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Market Research Report

Smart Electricity Meters

Published by Global Industry Analysts, Inc. Product code 335303
Published Content info 75 Pages
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Smart Electricity Meters
Published: September 1, 2020 Content info: 75 Pages
Description

Energy Wastage is Taking its Toll on the Environment. Smart Meters Being the Need of the Hour Will Reach $16.4 Billion by 2027

The global market for Smart Electricity Meters is expected to reach US$16.4 billion by the year 2027, trailing a post COVID-19 CAGR of 6.7% over the analysis period 2020 through 2027. Global carbon emissions are rising each year. The energy industry accounts for a sizable share of CO2 emissions highlighting the carbon intensity of electricity generation. Coal remains the worst polluting generating over 1,200 of CO2 per kWh. Over 60% of energy produced is wasted in transmission & consumption. Smart electricity meters are poised to witness robust adoption given their role in energy conservation & reducing wastages. Among the many benefits of smart meters are monitoring of electric system in real time & provision of responsive data for balancing electric loads; reduction of waste by forecasting energy demand more efficiently. A smart meter is an electronic device capable of monitoring usage of utility services, and share the data with utility providers. Using two way communication, smart meter makes records data at the usage point and transmits the information gathered back to the utility companies. The advanced metering infrastructure holds several merits over conventional metering and supports bi-directional communication. Smart meters are increasingly replacing traditional electric meters, mainly in developed countries, and enabling power system to undergo notable transformation in terms of efficiency and reliability. These devices provide utilities with the opportunity to exploit data to ensure efficient use of energy, reduce wastage, and minimize human intervention. Smart metering devices in homes deliver accurate readings and eliminate incorrect billing or irregularities. By monitoring gas, water or electricity consumption, these devices allow users to reduce consumption and save on utility bills.

Smart meters represent a revolutionary technology for utility companies that allow them to ensure efficient transmission and distribution while monitoring energy usage and efficiency. These meters integrate three primary components that include an electricity meter, processing unit and communication module. While the electricity meter measures power consumption and translates the readings into usable data, the processing unit processes and stores the data. In addition, the processing unit controls the electricity meter and the communication module. The communication module, usually found integrated into the smart meters or installed in external slots, facilitates the communication of meter data with the utility and the customer. Among the three components, the meter part is highly regulated one and in most cases needs to conform to a set of standards placed by regulatory authorities. The technology has gained extensive adoption among utilities and is receiving support from various countries. Governments are investing in smart metering infrastructure to gravitate towards smart grids and accommodate renewable energy. Smart meters technology is poised to experience large-scale installations in North America, Europe and Asia-Pacific, with the latter holding a key role in driving global adoption of smart meters. The increasing adoption of smart meters is attributed to their various benefits such as energy usage monitoring, energy saving, reduction in energy wastage, tab on power thefts and reduction in carbon emissions. Smart meters are increasingly replacing conventional meters and leading to notable transition towards digital technologies. These devices allow two-way communication to transmit data to utility companies for billing, monitoring and other purposes to ensure seamless supply of electricity, water or gas to consumers. Smart metering allows companies to deal with electricity theft, which results in heavy losses of around $90 billion annually. The technology has witnessed an impressive investment of around US$62 billion for associated infrastructure. These endeavors are anticipated to further drive adoption of smart meters in both developed and developing regions.

Smart meters rely on reliable and secure cellular connectivity for transmission of information to utilities. Cellular technology provides uninterrupted and effective connectivity to help utilities in connecting to smart meters. The launch of NB-IoT and LTE-M technologies is expected to further extend the deployment of smart meters to various areas. While high cost of smart meters is a major challenge, ongoing advances are anticipated to make the technology more affordable and drive adoption rates. In the coming years, smart meters are expected to drastically transform service delivery and help companies in enhancing consumer experience. The technology is likely to be exploited by companies for developing innovative business models on the basis of data offered by these devices. In addition, increasing adoption of the technology along with technological advancements are poised to reduce energy wastage and go a long way in supporting efforts to reduce carbon footprint and protect the environment. Smart meters are anticipated to play a decisive role in transforming the way the energy industry and utility companies work.

Competitors identified in this market include, among others,

  • ABB Ltd.
  • General Electric Company
  • Holley Technology UK Ltd.
  • Iskraemeco d.d.
  • Itron, Inc.
  • Landis+Gyr AG
  • Schneider Electric SA
  • Siemens AG
Table of Contents
Product Code: MCP-7018

TABLE OF CONTENTS

I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

  • 1. MARKET OVERVIEW
    • Global Competitor Market Shares
    • Smart Electricity Meters Competitor Market Share Scenario Worldwide (in %): 2019 & 2028
    • Impact of Covid-19 and a Looming Global Recession
  • 2. FOCUS ON SELECT PLAYERS
  • 3. MARKET TRENDS & DRIVERS
  • 4. GLOBAL MARKET PERSPECTIVE
    • TABLE 1: Smart Electricity Meters Global Market Estimates and Forecasts in US$ Million by Region/Country: 2020-2027
    • TABLE 2: Smart Electricity Meters Market Share Shift across Key Geographies Worldwide: 2020 VS 2027
    • TABLE 3: Residential (End-Use) Global Opportunity Assessment in US$ Million by Region/Country: 2020-2027
    • TABLE 4: Residential (End-Use) Percentage Share Breakdown of Global Sales by Region/Country: 2020 VS 2027
    • TABLE 5: Commercial (End-Use) Worldwide Sales in US$ Million by Region/Country: 2020-2027
    • TABLE 6: Commercial (End-Use) Market Share Shift across Key Geographies: 2020 VS 2027
    • TABLE 7: Industrial (End-Use) Global Market Estimates & Forecasts in US$ Million by Region/Country: 2020-2027
    • TABLE 8: Industrial (End-Use) Market Share Breakdown by Region/Country: 2020 VS 2027

III. MARKET ANALYSIS

  • GEOGRAPHIC MARKET ANALYSIS
  • UNITED STATES
    • Market Facts & Figures
    • US Smart Electricity Meters Market Share (in %) by Company: 2019 & 2025
    • Market Analytics
    • TABLE 9: United States Smart Electricity Meters Latent Demand Forecasts in US$ Million by End-Use: 2020 to 2027
    • TABLE 10: Smart Electricity Meters Market Share Breakdown in the United States by End-Use: 2020 VS 2027
  • CANADA
    • TABLE 11: Canadian Smart Electricity Meters Market Quantitative Demand Analysis in US$ Million by End-Use: 2020 to 2027
    • TABLE 12: Canadian Smart Electricity Meters Market Share Analysis by End-Use: 2020 VS 2027
  • JAPAN
    • TABLE 13: Japanese Demand Estimates and Forecasts for Smart Electricity Meters in US$ Million by End-Use: 2020 to 2027
    • TABLE 14: Smart Electricity Meters Market Share Shift in Japan by End-Use: 2020 VS 2027
  • CHINA
    • TABLE 15: Chinese Demand for Smart Electricity Meters in US$ Million by End-Use: 2020 to 2027
    • TABLE 16: Chinese Smart Electricity Meters Market Share Breakdown by End-Use: 2020 VS 2027
  • EUROPE
    • Market Facts & Figures
    • European Smart Electricity Meters Market: Competitor Market Share Scenario (in %) for 2019 & 2025
    • Market Analytics
    • TABLE 17: European Smart Electricity Meters Market Demand Scenario in US$ Million by Region/Country: 2018-2025
    • TABLE 18: European Smart Electricity Meters Market Share Shift by Region/Country: 2020 VS 2027
    • TABLE 19: European Smart Electricity Meters Addressable Market Opportunity in US$ Million by End-Use: 2020-2027
    • TABLE 20: European Smart Electricity Meters Market Share Analysis by End-Use: 2020 VS 2027
  • FRANCE
    • TABLE 21: Smart Electricity Meters Quantitative Demand Analysis in France in US$ Million by End-Use: 2020-2027
    • TABLE 22: French Smart Electricity Meters Market Share Analysis: A 7-Year Perspective by End-Use for 2020 and 2027
  • GERMANY
    • TABLE 23: Smart Electricity Meters Market in Germany: Annual Sales Estimates and Forecasts in US$ Million by End-Use for the Period 2020-2027
    • TABLE 24: Smart Electricity Meters Market Share Distribution in Germany by End-Use: 2020 VS 2027
  • ITALY
    • TABLE 25: Italian Demand for Smart Electricity Meters in US$ Million by End-Use: 2020 to 2027
    • TABLE 26: Italian Smart Electricity Meters Market Share Breakdown by End-Use: 2020 VS 2027
  • UNITED KINGDOM
    • TABLE 27: United Kingdom Demand Estimates and Forecasts for Smart Electricity Meters in US$ Million by End-Use: 2020 to 2027
    • TABLE 28: Smart Electricity Meters Market Share Shift in the United Kingdom by End-Use: 2020 VS 2027
  • REST OF EUROPE
    • TABLE 29: Rest of Europe Smart Electricity Meters Addressable Market Opportunity in US$ Million by End-Use: 2020-2027
    • TABLE 30: Rest of Europe Smart Electricity Meters Market Share Analysis by End-Use: 2020 VS 2027
  • ASIA-PACIFIC
    • TABLE 31: Smart Electricity Meters Quantitative Demand Analysis in Asia-Pacific in US$ Million by End-Use: 2020-2027
    • TABLE 32: Asia-Pacific Smart Electricity Meters Market Share Analysis: A 7-Year Perspective by End-Use for 2020 and 2027
  • REST OF WORLD
    • TABLE 33: Rest of World Smart Electricity Meters Market Quantitative Demand Analysis in US$ Million by End-Use: 2020 to 2027
    • TABLE 34: Rest of World Smart Electricity Meters Market Share Analysis by End-Use: 2020 VS 2027

IV. COMPETITION

  • Total Companies Profiled: 72
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