UK 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 UK smart electric meter market is expected to grow at a CAGR of approximately 10.5% during the forecast period.
The UK smart electric meter market is expected to grow at a CAGR of approximately 10.5% during the forecast period. The major factors for the growth of the market include government initiatives and adoption of smart electric grids in the nation.
The UK Government’s commitment for smart meter roll-out by 2020 is a key driver for the growth of Europe smart electric meter market. Additionally, the regulations and norms in the UK is well established to fund smart electric meter deployments.
Along with the implementation of electricity market reforms underway, the UK is now the potential market that provides growing opportunities for smart meter solutions.
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Top Key Players - Aclara Technologies LLC, Elster Group, Itron Inc., Landis+Gyr AG, Schneider Electric SE, Sensus, Siemens AG, Silver Spring Networks Inc., Toshiba Corp.
The UK electricity market is dominated by six major energy companies that include Centrica, Scottish, Southern Energy, E. ON, RWE power and EDF energy. These companies generate 2/3rd of the energy and are responsible for controlling 95% of the retail market.
Energy prices in the UK are market-based and remain low as compared to other peers, such as Germany and Spain, even after taxes. Transmission is separated in the UK, where ownership, maintenance, and operations of the high voltage system come to National Grid in England and Wales, Scottish Hydro-electric transmission in the North of Scotland, and Scottish Power Transmission in the South of Scotland.
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The UK Energy Bill, including the Electricity Market Reform (EMR) bill was passed in December 2013, to represent the government’s response towards electricity sector challenges. The UK electricity possesses the potential growth for major opportunities for energy efficiency and smart electricity meters.
The UK Energy Bill was signed into law in August 2014 and was followed by a change in series of legislative that focused on improving the electricity implementation. The key objectives of the law that affects the electricity sector include Implementation of Electricity Market Reform to attract 110 billion investments in generation and grid investments by 2020, safety and security regulations for nuclear sector, consumer protections including limit on energy tariffs and the improved transparency of bill.
These government initiatives to provide efficient electricity consumption will boost the demand for smart electric meter to accurately record electricity consumption for billing and monitoring.
UK Smart Electric Meter Market Segmentation
UK Smart Electric Meter Market by Communication Technology
- Power Line Communication
- Radio Frequency
UK Smart Electric Meter Market by Phase
- Single Phase
- Three Phase
UK Smart Electric Meter Market by Application
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