(2020 - 2023) Global Smart Electricity Meter Market - CAGR Status, Industry Analysis, Trends, and Forecast

Smart Electricity Meter Market (2020 – 2023) report provides the newest industry data and industry future trends, allowing you to identify the products and end users driving Revenue growth and profitability. The Smart Electricity Meter market report lists the leading competitors and provides the insights strategic industry Analysis of the key factors influencing the market.

Smart Electricity Meter Market report is anticipated to register a CAGR of XX% over a five years forecast period (2020 – 2023).”

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List of Major Key players operating in the Global Smart Electricity Meter Market are –

  • Landis + GYR Group AG
  • Wasion Group Holdings
  • Elster Group Gmbh(Honeywell International Inc)
  • Jiangsu Liang Energy Co. Ltd
  • Sagemcom Sas
  • Ningbo Sanxing Electric Co. Ltd
  • Kamstrup A/S
  • Hexing Electric Company Ltd
  • Itron Inc
  • Holley Technology Ltd
  • Sensus Usa Inc
  • Nanjing Xinlian Electronics Co. Ltd
  • Shenzhen Hemei Group Co. Ltd

The smart electricity meter market was valued at 93.09 million unit shipments in 2017, and is expected to reach 83.61 million unit shipments by 2023, at a CAGR of (0.64)% over the forecast period (2020 - 2023). The report discusses the end users that use these products. The regions considered under the scope of the report include North America, Europe, and various others. The study also emphasizes on how supportive government regulations in key regions are affecting the market.

Smart metering solutions comprise of meters or modules, with communication capabilities (either one-way or two-way) embedded within the meter or attached to it. Smart electricity meters are expected to witnesses a declining demand throughout the forecast period, primarily due to decline in volume sale contribution from China, which is the largest market for these systems. Conventional electric grids are highly inefficient. Energy transmission over long distances is highly expensive and inefficient. It is estimated that over 7% of the energy is lost during the transmission of electricity in the United States. Deployment of smart metering systems enables energy suppliers to continuously monitor electricity usage at multiple points in the grid. Therefore, smart meters help collect data and enable the management of electricity distribution, necessary to improve the efficiency of the systems.

Rise in Deployment in Smart Cities to Drive the Market

Smart metering systems are employed with two-way communication and control capabilities, which enable the central systems to analyze the data and take necessary actions to provide improved efficiency and handle systems efficiently in times of faults and failures. Smart grids play a crucial role in smart city deployment and are the primary consumers of smart electricity meters. In addition, governments around the world are allocating budgets to turn existing cities smart and also to establish new smart city projects, in order to improve the overall economy. European countries are leading in this segment, with many establishments, while countries in Asia-Pacific are exploring this technology for mass deployment. This is expected to increase the demand for smart electricity meters.

The Residential Segment to have the Highest Market Share

Increasing residential construction activities and government mandates like EU 20-20-20 policy, which aims to convert 80% of the installed meter base to smart ones, is expected to drive the smart electricity meter market. The residential applications of smart meters include standalone autonomous houses and suburban/urban apartments. Growth in this domain can be attributed to regulatory, administrative framework and surging awareness concerning reduction of energy consumption and aligned expenses. However, budgetary constraints of industries and lengthy period for realizing the benefits of smart meters have been the deterrents for the adoption of smart meters for residential applications in the developing countries.

Asia-Pacific to have the Highest Share

China is leading the market at the moment, with the rollout at its peak, due to strict mandates by the government. South China and State Grid, the only two grid companies in the country, drive the process. But the gradual end of the rollout is resulting in a significant reduction of demand year-by-year. In other countries, such as India, the study projects a substantial growth in the demand for smart electricity meters, with expected need of more than 2 million units yearly post-2020. However, in the absence of a national mandate by the government, the incorporation of smart metering is expected to be slow and patchy, thereby inhibiting the full functionality of smart grid systems. Further, the region is expected to enjoy the highest market share over the forecast period, owing to the vast population base in these two countries.

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Scope of the Report:

The report analyses Smart Electricity Meter market, which includes –

  • Analysis of the growth of Smart Electricity Meter market in global and regional level including Asia-Pacific, Americas, and EMEA.
  • The report provides Smart Electricity Meter market analysis for key countries including the US, Canada, Chile, China, India, Japan, the UK, Germany, France, and Italy.
  • The report offers country level Smart Electricity Meter market volume and value by end-user segment for the period 2012-2023.
  • Qualitative analysis of key market drivers and restraints, and analysis of their impacts on Smart Electricity Meter market are discussed.
  • The report provides competitive landscape at country level for the year 2020. It also covers key policies and initiatives, key deals, and key upcoming projects.

Highlighted points of Smart Electricity Meter Market Report:

  • Varying dynamics of the Smart Electricity Meter industry.
  • Prospective changes in sales volumes and worldwide share growth in upcoming years (2020-2023).
  • Smart Electricity Meter market report recognizes the key drivers of growth and challenges of the key industry players.
  • Competitors profiles along with product description, overview, and business data.
  • A complete analysis of market risks, opportunities, limitations, and growth of the market.
  • Market driving and restraining factors.
  • Delivers information on the historical and current market size and the future potential of the market.
  • Smart Electricity Meter market report provides a comprehensive analysis of the market with respect to market dynamics, competitive analysis, and upcoming trends of the market.

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Reasons to Purchase Smart Electricity Meter Market Report:

  • The report analyses how stringent emission control norms will drive the global Smart Electricity Meter market.
  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
  • Study on the product type that is expected to dominate the market.
  • Study on the regions that are expected to witness the fastest growth during the forecast period.
  • Identify the latest developments, market shares and strategies employed by the major Smart Electricity Meter market players.
  • 3 months’ analyst support along with the Market Estimate sheet (in excel).

In this study, the years considered to estimate the market size of Smart Electricity Meter:

History Year: 2013-2017
Base Year: 2017
Estimated Year: 2020
Forecast Year 2020 to 2023

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