Smart Electricity Meter Market, By Phase (Single Phase and Three Phases), By Communication Technology Type (Communication, Cellular and Radio Frequency), By End User (Residential, Commercial and Industrial), and By Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) – Trends, Analysis, and Forecast till 2029.

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.