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Learn details of the smart meters market expected to reach US$ 22.31 billion by 2023

Energy Market Research

Smart Meters Market By Type (Smart Water Meters, Smart Gas Meters, Smart Electric Meters), By Application (Industrial, Residential, Commercial ) By Technology (Advanced Metering Infrastructure, Automatic Meter Reading).

GLOBAL SMART METERS MARKET was valued at USD 12.77 Billion for the year 2017. Smart Meters Market is further expected to grow at a CAGR of 9.74% from 2018 to reach USD 22.31 Billion by the year 2023.

Asia-Pacific region holds the highest market share in 2017. The Asia-Pacific region is also considered as the fastest growing market in the forecasted period.

China is the major market in 2017 at country level and it is also further anticipated to grow at a steady pace in the next 5 years.

Siemens AG (Germany), Schneider Electric (France), Honeywell International, Inc. (US), are some of the top players in the Smart Meters Market with Schneider Electric holding a substantial market share in 2017.

Better global reach at an operational level, is the main reason for holding this market share. Rising research and development expenses to satisfy the changing demands of end users, new product launches and organic growth strategies were few techniques adopted by various manufacturers in last 5 years.

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Drivers:

             Increasing investments in Smart Grids

             Government Legislation and Policies

Restraints:

             High installation cost

Opportunities:

             Implementation of IoT & big data analytics

Challenges:

             High maintenance cost

The segmentation done on the basis of Technology include Advanced Metering Infrastructure (AMI), and Automatic Meter Reading (AMR) of which the AMI segment is expected to hold the highest market share during the forecast period.

Segmentation done on the basis of Application includes an industrial, commercial and residential segment of which residential segment is expected to grow at the highest CAGR during the forecasted period.

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Key Benefits for Stakeholders

Smart Meters Manufacturers & Distributors

Research and Consulting organization

Government bodies

End-use industries

Regulatory bodies, policymakers and consumers.

By Type

Smart Water Meters

Smart Gas Meters

Smart Electric Meters

By Application

Industrial

Residential

Commercial

By Technology

Advanced Metering Infrastructure

Automatic Meter Reading

By Region

North America

Europe

Asia-Pacific

ROW

Key Market Players

Siemens AG

EDMI Limited

Schneider Electric

Honeywell International, Inc.

Itron, Inc.

Sensus (Xylem)

Holley Metering, Limited

EDMI Limited

Badger Meter, Inc.

Aclara Technologies, LLC

Wasion Group

ICSA (India), Limited  

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News From

Genesis Market InsightsGenesis Market Insights
Category: Market Research Publishers and RetailersCompany about: Genesis Market Insights (GMI), is a subsidiary of Genesis Management & Market Research Pvt.Ltd. (GMMR) having a strong experience both in primary and secondary market research serving small to large scale enterprises across the globe. Established in 1993, GMMR has become a recommended brand for Market Research for various international and MNC Corporations with its strong data foundation. With its exhaustive research capabilities, strong analytics services and in-house data validation tools, ...
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