Japan Smart Electric Meter Market Size, Share & Trends Analysis Report by Communication Technology (Power Line Communication, Cellular, and Radio Frequency), by Phase (Single Phase, and Three Phase), and by Application (Residential, Commercial, and Industrial) Forecast Period 2019-2025
The Japan smart electric meter market is growing at a CAGR of approximately 11.7% during the forecast period. The key reason for the growth of the market is the increased adoption of electric grids and increasing per capita consumption in the nation.
Japan possesses significant growth in the APAC smart electric meter market. According to USITC, Japan’s smart grid technology market in 2016 was approximately $7.5 billion and is expected to increase rapidly over the next five years.
The country’s government is proactive towards energy and environment and had established the Energy-Environment Council to develop the policy response for switching away from nuclear power. The council issued a report, which focuses on the need of conservation measures, efficiency measures and supply side measures including the introduction of smart meters as well as electricity tariff systems.
Top Key Players in this Report are - Aclara Technologies LLC, Elster Group, Itron Inc., Landis+Gyr AG, Schneider Electric SE, Sensus, Siemens AG, Toshiba Corp., Wasion Group
Further, as an initiative, the Japanese government has set a target for about 80% of the nationwide electricity consumption to be monitored using smart meters by 2020. the government is supporting four Smart City projects, including Yokohama and Toyota projects through its development fund to establish Japan as a leader in smart grid design.
The government initiatives to target deployment of smart meters along with smart city projects escalate the demand for smart electric meter in the region and are considered as an important factor for the growth of market in the region.
The growing initiatives for ensuring efficient electricity consumption and data monitoring is further contributing towards the growth of market. Kansai and Tokyo Electric Power Company (TEPCO) are two power utility giants in the region.
Kansai Electric Power was a first mover and has been installing smart meters since 2008. After the Fukushima crisis, the government ordered the TEPCO to invite offers from both domestic and foreign firms to install 17 million smart meters by 2019.
Japan Smart Electric Meter Market Segmentation
Japan Smart Electric Meter Market by Communication Technology
- Power Line Communication
- Radio Frequency
Japan Smart Electric Meter Market by Phase
- Single Phase
- Three Phase
Japan Smart Electric Meter Market by Application
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