Some of leading players in smart electric meter market include Itron (US), Landis+Gyr (Toshiba Corporation) (Switzerland), Jiangsu Linyang (China), Wasion (China), Aclara Technologies (Hubbell Incorporated) (US), Schneider (France), Siemens (Germany), Honeywell (US), and Iskraemeco (Slovenia). These players have adopted growth strategies such as new product launches, contracts & agreements, partnerships, collaborations, alliances, and joint ventures, mergers & acquisitions, and investments & expansions to capture a larger share of the smart electric meter market.
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Smart electric meter market is projected to grow from an estimated USD 9.27 billion in 2018 to USD 11.33 billion by 2023, at a CAGR of 4.11%, from 2018 to 2023. Factors like increasing amount of renewable energy in generation mix, a rising trend of distributed generation on Medium Voltage (MV) networks, a greater focus on real estate development by investment community, & increasing rate of urbanization are driving smart electric meter market.
The report’s target audience includes:
- Consulting Companies in the Energy and Power Sector
- Government and Research Organizations
- Government Utility Providers
- Metering Companies
- Network Operators
- Private Utility Providers
- Smart Electric Meter Manufacturers, Dealers, and Suppliers
- Smart Grid Players
Report segments smart electric meter market, on basis of end-user, into residential, commercial, & industrial.
Residential segment led smart electric meter market by end-user from 2018 to 2023, owing to widespread use of sophisticated electrical, electronic, & data equipment. Commercial segment is expected to be fastest-growing segment of smart electric meter market, by end-user.
Report further segments smart electric meter market, by phase, into single-phase and three-phase configurations. Three-phase segment is fastest-growing market during forecast period and is also projected to dominate market during the same period.
Three-phase meters are mostly used in industrial applications & in large commercial applications. Single-phase smart electric meters are mostly used in residential applications & across various industries like chemical plants, food & beverage, cement, steel manufacturing, automotive.
1 Attractive Opportunities in the Smart Electric Meter Market
2 Smart Electric Meter Market, By End-User
3 Smart Electric Meter Market, By Country
4 Asia Pacific Smart Electric Meter Market, By End-User & Country
5 Smart Electric Meter Market, By Phase
6 Smart Electric Meter Market, By Communication Technology Type
In smart electric meter market report has been analyzed with respect to six regions, namely, Asia Pacific, North America, Europe, Middle East, Latin America, & Africa. Asia Pacific is expected to dominate smart electric meter market during forecast period because of rise in investments in smart grid technologies & smart cities, increase in number of data centers, and a surge in IT hubs & commercial institutions.
Europe is expected to grow at the fastest rate during the forecast period because of government initiatives such as the European Union’s (EU) 20:20:20 plan, which aims at reducing greenhouse gas emissions.
The report provides a complete view of the smart electric meter market across the smart metering industry and regions. It aims at estimating the market size and future growth potential of the market across different segments such as communication technology, end-user, phase, and region.
Further, the report includes an in-depth competitive analysis of the key players in the market along with their company profiles, recent developments, and key market strategies.
Why Access this Report?
- The report identifies and addresses key markets for the implementation of a smart electric meter in various end-users, which would help manufacturers review the growth in demand.
- The report helps solution providers understand the pulse of the market and provide insights into drivers, restraints, and challenges.
- The report will help key players understand the strategies of their competitors better and will help in making strategic decisions.
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