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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Increasing investments in Smart Grids
Government Legislation and Policies
High installation cost
Implementation of IoT & big data analytics
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
Regulatory bodies, policymakers and consumers.
Smart Water Meters
Smart Gas Meters
Smart Electric Meters
Advanced Metering Infrastructure
Automatic Meter Reading
Key Market Players
Honeywell International, Inc.
Holley Metering, Limited
Badger Meter, Inc.
Aclara Technologies, LLC
ICSA (India), Limited
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