About Commercial Smart Electric Meter
The smart electric meter is an electronic device that tracks and records the consumption of electric energy and communicates the information to the electricity supplier for monitoring and billing. It records energy hourly or more frequently and report it to electricity supplier daily. This communication from the meter to the network may be wireless or via fixed wired connections such as power line carrier (PLC). Electric utility companies have been replacing the outdated analog meters with the new, high-tech digital smart meter versions. It eliminates the need for estimated monthly bills or home visits from meter readers.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The key manufacturers are targeting the innovations of the products with better quality, and better technical characteristics, and also assist in providing and humanizing the after-sale service to the consumers. The key players are probable to keep a stronghold on the market over the anticipated period. The key players are accepting strategic decisions and are thinking about mergers and acquisitions to maintain their presence in the market Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Commercial Smart Electric Meter market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Jabil (United States), Itron (United States), Landis+Gyr Ltd (Switzerland), GE (United States), Elster (United States), Sensus USA Inc. (United States), Silver Spring Networks (United States), Kamstrup (Denmark), Jiangsu Linyang Energy Co., Ltd. (China) and Echelon Corporation (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Holley Technology Ltd (China) and Badger Meter (United States).
Segmentation Overview
AMA Research has segmented the market of Global Commercial Smart Electric Meter market by Type (First Generation (SMETS1) and Second Generation (SMETS2)), Application (Hotels, Resorts, Hospitals and Others) and Region.
On the basis of geography, the market of Commercial Smart Electric Meter has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Phase, the sub-segment i.e. Single Phase will boost the Commercial Smart Electric Meter market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channel, the sub-segment i.e. Online will boost the Commercial Smart Electric Meter market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Shifting Trend Towards Adoption of Energy-Efficient Technologies
Market Growth Drivers:
Provides Quick and Real-Time Data on Electricity Consumption and Rapid Industrialization across Developing Economies
Challenges:
Privacy of the Collected Personal Data and Concerns Related to Accuracy of the Smart Meters
Restraints:
Cost Associated with Installation of the New Meter
Opportunities:
Growing Demand for Electricity Worldwide and Rising Investments in the Digitalization of the Electrical Systems
Market Leaders and their expansionary development strategies
In March 2023, Diehl Metering, a global provider of smart metering solutions, signed a strategic partnership with STACKFORCE GmbH, a German company specializing in embedded software for IoT devices and related integration services. With this strategic collaboration, the companies aim to accelerate IoT opportunities in metering.
In January 2020, Revelo electric meters were introduced by Landis+Gyr. The Revelo metering platform builds on Landis+Gyr’s deep metering experience that spans residential, commercial and grid sensing, taking full advantage of the strength and success of these technologies. Designed with Landis+Gyr’s market-recognized waveform data technology and powerful edge computing capabilities, Revelo redefines electric meters as grid sensors capable of providing new levels of awareness and insight.
Key Target Audience
Manufacturer, Government Bodies, Research Center, Suppliers & Distributors, Potential Investors and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.