Global Smart Electricity Meter Market Overview
Recording the consumption of electric energy, monitoring and billing of electricity by informing the supplier is done by an electronic device called as smart electricity meter. Smart electricity meter is a next generation technology that measures electricity consumption of a home or a building. Smart electricity meter communicate securely outside your home, using the mobile network. It is an internet capable device, which not only records daily consumption of energy but also helps in managing energy distribution. Real time sensors monitors and provides two-way communication between the building and utility infrastructure to the central power grid.
Efficient energy management, controlled energy consumption and greater security against electricity theft drive the global smart electricity meter market. Favourable government mandates and fiscal incentives to the customers enhance the growth of the target market. Increasing investment in smart grid projects, increasing need for efficient data monitoring systems and stringent government policies also boost the growth of the global smart electricity meter market. Increasing penetration of internet of things and rising adoption of cloud based services and solutions are some other factors which propel growth of the target market. However, higher installation cost and non-acceptance by user may restrain the growth of the global smart electricity meter market. Lack of proper network connectivity could lead to improper working of smart electricity meters which will inhibit the target market growth.
Global smart electricity meter market can be segmented on the basis of phase, communication technology, end user and region.
On the basis of phase, the global smart electricity is divided into single phase and three phases. The three-phase segment dominated the market and is expected to maintain its dominance over the forecast years as well owing to growing number of large industries. On the basis of communication technology, the target market is divided into power line communication, cellular and radio frequency. The Power Line Communication segment is expected to dominate the market during the forecast period. On the basis of end user, the global smart electricity meter market is divided into residential, commercial and industrial. The governments across different countries are investing fortunes for developing new residential as well as commercial infrastructures.
On the basis of region, the global smart electricity meter market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. Asia Pacific is expected to dominate the smart electric meter market during the forecast period because of the rise in investments in smart grid technologies and smart cities, the increase in the number of data centres, and a surge in IT hubs and commercial institutions. North America is second dominating region in the global smart electricity meter market in terms of revenue and is expected to maintain its dominance over the forecast period.
Key player in the global smart electricity meter market includes Itron Inc., ABB Group Limited, General Electric Company Pvt Ltd., Schneider Electric corporation, Aclara technologies LLC, Siemens AG Pvt Ltd., Elster Group GmbH Ltd., Holley Metering Ltd., Iskraemecod Inc., Landis Gyr, Toshiba Corporation.
Global Smart Electricity Meter Market Table of Contents
Research Objective and Assumption
- Preface
- Research Objectives
- Study Scope
- Years Considered for the study
- Assumptions
- Abbreviations
Research Methodology
- Research data
- Primary Data
- Primary Interviews
- Primary Breakdown
- Key data from Primary Sources
- Key Thickness Insights
- Secondary Data
- Major Secondary Sources
- Secondary Sources
- Market Estimation
- Top-Down Approach
- Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Bottom-Up Approach
- Approach for estimating market share by Bottom-up Analysis (Demand Side)
- Market Breakdown and Data Triangulation
- Research Assumptions
Market Preview
- Executive Summary
- Key Findings—Global Outlook for medical carts Strategies
- Key Questions this Study will Answer
- Market Snippet, By Phase
- Market Snippet, By Communication Technology Type
- Market Snippet, By End User
- Market Snippet, By Region
- Opportunity Map Analysis
- Executive Summary—3 Big Predictions
Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restrains
- Market Opportunities
- Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
Smart Electricity Meter Market, By Phase, Forecast Period up to 10 Years, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
- Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
- Segment Trends
- Single Phase
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Three Phases
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
Smart Electricity Meter Market, By Communication Technology Type, Forecast Period up to 10 Years, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
- Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
- Segment Trends
- Communication
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Cellular
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Radio Frequency
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
Smart Electricity Meter Market, By End User, Forecast Period up to 10 Years, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
- Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
- Segment Trends
- Residential
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Commercial
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Industrial
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
Smart Electricity Meter Market, By Region, Forecast Period up to 10 Years, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
- Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
- Regional Trends
- North America
- Market Size and Forecast (US$ Bn), By Phase, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By Communication Technology Type, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By End User, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
- U.S.
- Canada
- Europe
- Market Size and Forecast (US$ Bn), By Phase, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By Communication Technology Type, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By End User, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
- UK
- France
- Germany
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- Market Size and Forecast (US$ Bn), By Phase, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By Communication Technology Type, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By End User, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
- India
- Japan
- South Korea
- China
- Rest of Asia Pacific
- Latin America
- Market Size and Forecast (US$ Bn), By Phase, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By Communication Technology Type, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By End User, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Market Size and Forecast (US$ Bn), By Phase, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By Communication Technology Type, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By End User, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
- GCC
- Israel
- South Africa
- Rest of Middle East
Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
Company Profiles
- Itron Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- ABB Group
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- General Electric Company Pvt Ltd.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Schneider Electric corporation
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Aclara technologies LLC
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Siemens AG Pvt Ltd.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Elster Group GmbH Ltd.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Holley Metering Ltd
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Iskraemecod Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Landis Gyr.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Toshiba Corp
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
The Last Word
- Future Impact
- About Us
- Contact
FAQs
The Smart Electricity Meter Market accounted for US$ 2.2 billion in 2022 and is estimated to be US$ 4.0 billion by 2032 to grow at CAGR of 6.4%.
The Smart Electricity Meter Market is segmented into phase, communication technology, end user and region.
Increasing emphasis on energy efficiency, demand for real-time consumption data, and the adoption of smart grid technologies drive the growth of the smart electricity meter market globally.
Challenges include potential cyber security risks, infrastructure upgrade costs, and the need for standardized communication protocols for interoperability, posing global restraints in the smart electricity meter market.
By region, the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America market is estimated to witness a significantly high revenue share over the forecast period.
The key players operating the target market includes, Itron Inc., ABB Group Limited, General Electric Company Pvt Ltd., Schneider Electric corporation, Aclara technologies LLC, Siemens AG Pvt Ltd., Elster Group GmbH Ltd., Holley Metering Ltd., Iskraemecod Inc., Landis Gyr, Toshiba Corporation, and others.