Market Research Report
Global Smart Meters Market By Type (Smart Energy Meters, Smart Water Meters & Smart Gas Meters), Technology (Automatic Meter Reading & Advanced Metering Infrastructure), Application, Region, Competition, Forecast & Opportunities, 2024
|Published by||TechSci Research||Product code||851683|
|Published||Content info||110 Pages
Delivery time: 1-2 business days
|Global Smart Meters Market By Type (Smart Energy Meters, Smart Water Meters & Smart Gas Meters), Technology (Automatic Meter Reading & Advanced Metering Infrastructure), Application, Region, Competition, Forecast & Opportunities, 2024|
|Published: August 1, 2019||Content info: 110 Pages||
Global Smart Meters Market By Type (Smart Energy Meters, Smart Water Meters & Smart Gas Meters), By Technology (Automatic Meter Reading & Advanced Metering Infrastructure), By Application (Industrial, Commercial & Residential), By Region, Competition, Forecast & Opportunities, 2024.
Global smart meters market stood at $ 8.5 billion in 2018 and is projected to grow at a CAGR of over 7% to reach $ 12 billion by 2024, backed by increasing upgrades of transmission & distribution infrastructure and rising investments in smart grid projects. Smart meter is an electronic device that records the consumption of electric energy and communicates the information to electricity suppliers for monitoring and billing. Smart meters typically record energy hourly or more frequently, and report at least daily. Growing pressure on conserving natural resources and government regulations on the use of water, electricity and gas coupled with the advancements in metering technologies are expected to positively influence global smart meters market during the forecast period.
In terms of application, global smart meters market has been categorized into residential, commercial and industrial segments. Among the applications, the residential category accounted for a significant portion of global smart meters market in 2018 and the trend is likely to continue in coming years, owing to increasing residential construction activities and government mandates such as the European Union 20-20-20 policy, which aims to convert 80% of the installed meter base to smart one.
Regionally, Asia-Pacific smart meters market captured a significant portion of the global smart meters market in 2018. The market for smart meters is booming in the region, majorly due to huge demand of smart meters in countries like China, India and Japan. The country is focusing on upgrading and replacing outdated infrastructure, enabling grid reliability, and installing smarter power networks. The factor responsible for this demand in Asia-Pacific is conducive government initiatives, including proper allocation of funds and making smart meters mandatory in many countries.
The intensity of rivalry in the smart meters market is moderate. Most of the major vendors in the industry is actively focusing on research & development to enhance quality of existing and upcoming digital meters. They are also focusing on product launch and partnerships to enhance product features and expand their consumer base across the globe. Key players in global smart meters market are Landis+Gyr, Itron, Inc., Elster Group GmbH, Sensus USA Inc., Hubbell Incorporated, Diehl Stiftung & Co. KG, Emerson Process Management LLP, Badger Meter, Inc., Flonidan A/S, Schneider Electric SE, among others.
Years considered for this report:
Some of the leading players in global smart meters market are Landis+Gyr, Itron, Inc., Elster Group GmbH, Sensus USA Inc., Hubbell Incorporated, Diehl Stiftung & Co. KG, Emerson Process Management LLP, Badger Meter, Inc., Flonidan A/S, Schneider Electric SE, etc.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of smart meter manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the suppliers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the product offerings, distribution channels and presence of all major smart meter manufacturers across the globe.
TechSci Research calculated global smart meters market size using a bottom-up approach, where data for various end user industries and its application across various product types were recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company website, news articles, press releases, company annual reports, investor presentations and financial reports were also used by TechSci Research.
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as solution providers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, global smart meters market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Smart Energy Meters
Smart Water Meters
Smart Gas Meters
Automatic Meter Reading (AMR)
Advanced Metering Infrastructure (AMI)
Middle East & Africa
Company Profiles: Detailed analysis of the major companies present in global smart meters market.
With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Profit Margin Analysis
(Note: The companies list can be customized based on the client requirements)