Market Research Report
Smart Electric Meter Market by Communication Technology Type (Radio Frequency, Power Line Communication, and Cellular), End-User (Residential, Commercial, and Industrial), Phase (Single Phase, and Three Phase), and Region - Global Forecast to 2023
|Published by||MarketsandMarkets||Product code||364595|
|Published||Content info||155 Pages
Delivery time: 1-2 business days
|Smart Electric Meter Market by Communication Technology Type (Radio Frequency, Power Line Communication, and Cellular), End-User (Residential, Commercial, and Industrial), Phase (Single Phase, and Three Phase), and Region - Global Forecast to 2023|
|Published: April 6, 2018||Content info: 155 Pages||
"The smart electric meter market is projected to grow at a CAGR of 4.11%, from 2018 to 2023."
The smart electric meter market is projected to grow from an estimated USD 9.27 billion in 2018 to USD 11.33 billion by 2023, at a CAGR of 4.11%, from 2018 to 2023. Factors such as the increasing amount of renewable energy in the generation mix, a rising trend of distributed generation on Medium Voltage (MV) networks, a greater focus on real estate development by the investment community, and the increasing rate of urbanization are driving the smart electric meter market. High initial investment acting as a restraint for growth in developing economies, and the delay in smart meter rollout projects restrain the growth of the market during the forecast year.
The commercial segment is expected to be the fastest-growing segment of the smart electric meter market, by end-user, during the forecast period. The segment is expected to grow during the forecast period because of the growth of commercial facilities, which provides a boost to the power quality equipment. These equipment are used for the conditioning and monitoring of voltage fluctuations, frequency, flickering, and transients and help in preventing critical equipment damage, thus increasing the growth of the commercial smart electric meters market.
Europe is the third-largest market for smart electric meters, and is growing at the fastest rate during the forecast period. The European Union (EU) has proposed a 20:20:20 plan, which aims at reducing greenhouse gas emissions. The aging infrastructure and equipment, load increase, and low emission of CO2 are some of the major drivers for the deployment of smart grid implementation. Moreover, the focus of the governments on EV infrastructure and mobility programs have further supported the growth of the market.
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
Note: Others* includes sales managers, marketing managers, product managers, and engineers.
Note: Tier 1 Company: Revenue >5 billion, Tier 2 Company: Revenue between 1 billion and 5 billion, and Tier 3 Company: Revenue <1 billion.
Key players in the smart electric meter market include: Itron (US), Landis+Gyr (Toshiba Corporation) (Switzerland), Jiangsu Linyang (China), Wasion (China), Aclara Technologies (Hubbell Incorporated) (US), Schneider (France), Siemens (Germany), Honeywell (US), and Iskraemeco (Slovenia).
The report provides a complete view of the smart electric meter market across the smart metering industry and regions. It aims at estimating the market size and future growth potential of the market across different segments such as communication technology, end-user, phase, and region. Further, the report includes an in-depth competitive analysis of the key players in the market along with their company profiles, recent developments, and key market strategies.
The market has been segmented on the basis of communication technology type, end-user, phase, and region, with a focus on industry analysis (industry trends). The market ranking analysis of the top players, and company profiles, which together comprise and evaluate the basic views on the competitive landscape, emerging and high-growth segments of the smart electric meter market.
The report provides insights on the following pointers:
*Details on Business overview, Products offered, Recent Developments, MNM view might not be captured in case of unlisted companies.