Digital Power Meter Market Report: Trends, Forecast and Competitive Analysis to 2030

Digital Power Meter Trends and Forecast

The future of the global digital power meter market looks promising with opportunities in the residential, commercial, and industrial markets. The global digital power meter market is expected to reach an estimated $31.6 billion by 2030 with a CAGR of 5.8% from 2024 to 2030. The major drivers for this market are increasing demand for electricity, growing awareness of energy efficiency, and rising adoption of smart grid technology.

A more than 150-page report is developed to help in your business decisions.

Digital Power Meter by Segment

The study includes a forecast for the global digital power meter by product, phase, technology, application, and region.

Digital Power Meter Market by Product [Shipment Analysis by Value from 2018 to 2030]:

• Digital
• Electrical
• Electromechanical
• Electronic

Digital Power Meter Market by Phase [Shipment Analysis by Value from 2018 to 2030]:

• Single Phase
• Three Phase

Digital Power Meter Market by Technology [Shipment Analysis by Value from 2018 to 2030]:

• Radio Frequency
• Power Line Communication
• Cellular

Digital Power Meter Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Residential
• Commercial
• Industrial

Digital Power Meter Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Digital Power Meter Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies digital power meter companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the digital power meter companies profiled in this report include-

• Siemens
• General Electric
• Honeywell
• Eaton Corporation
• Abb
• Kamstrup A/S
• Landis+Gyr
• Itron
• Iskraemeco D.D.
• Jiangsu Linyang Energy

Digital Power Meter Market Insights

Lucintel forecasts that three phase will remain the larger segment over the forecast period due to increasing demand from industrial, commercial, and large residential applications.

Within this market, industrial is expected to remain the largest segment due to increasing demand for smart manufacurting units along with growing demand of highly accurate and reliable power meters to monitor and manage their energy consumption.

APAC will remain the largest region during the forecast period due to rapid industrialization and urbanization supported by growing demand for energy efficiency products and increasing government support for renewable energy in the region.

Features of the Global Digital Power Meter Market

Market Size Estimates: Digital power meter market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Digital power meter market size by various segments, such as by product, phase, technology, application, and region in terms of value ($B).

Regional Analysis: Digital power meter market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different products, phase, technologies, applications, and regions for the digital power meter market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the digital power meter market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q.1 What is the digital power meter market size?

Answer: The global digital power meter market is expected to reach an estimated $31.6 billion by 2030.

Q.2 What is the growth forecast for digital power meter market?

Answer: The global digital power meter market is expected to grow with a CAGR of 5.8% from 2024 to 2030.

Q.3 What are the major drivers influencing the growth of the digital power meter market?

Answer: The major drivers for this market are increasing demand for electricity, growing awareness of energy efficiency, and rising adoption of smart grid technology.

Q4. What are the major segments for digital power meter market?

Answer: The future of the digital power meter market looks promising with opportunities in the residential, commercial, and industrial markets.

Q5. Who are the key digital power meter market companies?

Answer: Some of the key digital power meter companies are as follows:

• Siemens
• General Electric
• Honeywell
• Eaton Corporation
• Abb
• Kamstrup A/S
• Landis+Gyr
• Itron
• Iskraemeco D.D.
• Jiangsu Linyang Energy

Q6. Which digital power meter market segment will be the largest in future?

Answer: Lucintel forecasts that three phase will remain the larger segment over the forecast period due to increasing demand from industrial, commercial, and large residential applications.

Q7. In digital power meter market, which region is expected to be the largest in next 5 years?

Answer: APAC will remain the largest region during the forecast period due to rapid industrialization and urbanization supported by growing demand for energy efficiency products and increasing government support for renewable energy in the region.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the digital power meter market by product (digital, electrical, electromechanical, and electronic), phase (single phase and three phase), technology (radio frequency, power line communication, and cellular), application (residential, commercial, and industrial), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?