Energy Metering SOC Market Scope
The global energy metering SOC market is anticipated to witness significant growth in the coming years due to rising demand for energy efficiency, increasing adoption of smart grids, and government initiatives to promote renewable energy sources. The rising concern about climate change and the need to reduce carbon emissions are driving the demand for smart energy metering solutions. The deployment of smart energy meters enables real-time monitoring of energy consumption, allowing consumers to optimize their energy usage and reduce their carbon footprint. The market is divided based on application (commercial, residential, industrial), and type (monophase type, triphase type). The commercial segment is expected to dominate the market due to the increasing adoption of smart energy metering solutions in commercial buildings to reduce energy costs and improve efficiency. The monophase type segment is anticipated to hold a larger share of the market due to its widespread use in residential applications.
Attributes | Details |
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Study Period | 2020-2032 |
Base Year | 2024 |
Unit | Value (USD Million) |
Key Companies Profiled | Landis+Gyr (Switzerland), Itron, Inc. (United States), Elster Group GmbH (Germany), Schneider Electric (France), Siemens AG (Germany), General Electric (GE) Digital Energy (United States), Honeywell International Inc. (United States), ABB Ltd. (Switzerland), Silergy Corp. (China) and Silicon Laboratories Inc. (United States) |
CAGR | % |
The Energy Metering SOC market is characterized with the presence of both large and small players. To sustain the competition, vendors must differentiate their offerings through a clear and unique value proposition. Some vendors are focusing on partnering with other players or acquiring a regional brand to increase their share of the market. Research Analyst at AMA estimates that Global Players will contribute to the maximum growth of Global Energy Metering SOC market throughout the predicted period.
Landis+Gyr (Switzerland), Itron, Inc. (United States), Elster Group GmbH (Germany), Schneider Electric (France), Siemens AG (Germany), General Electric (GE) Digital Energy (United States), Honeywell International Inc. (United States), ABB Ltd. (Switzerland), Silergy Corp. (China) and Silicon Laboratories Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Maxim Integrated Products, Inc. (United States), Nordic Semiconductor ASA (Norway), Ember Corporation (United States), Paradox Engineering SA (Switzerland) and Teridian Semiconductor Corp. (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Energy Metering SOC market by Type , by Application (Commercial, Residential and Industrial) and Region with country level break-up.
On the basis of geography, the market of Energy Metering SOC 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).
region held largest market share in the year 2024.
Market Leaders and their expansionary development strategies
In November 2024, SMS announced a merger with Horizon Energy Infrastructure and Smart Meter Assets. This collaboration aims to create a leading provider of smart metering infrastructure in the UK, managing over six million meters. The partnership focuses on advancing smart energy and water solutions and expanding into markets like Germany
In December 2024, Silicon Labs had shipped four million FG23 SoCs for smart electricity meters as part of India's Advanced Metering Infrastructure (AMI) initiative. These SoCs, utilizing Wirepas Mesh Sub-GHz connectivity, offer scalable and resilient solutions tailored to India's energy sector demands.
Influencing Trend:
Increased Adoption of Smart Metering
Market Growth Drivers:
Rising energy costs and environmental concerns and Advanced measurement technologies for increased accuracy and reliability
Challenges:
Interoperability issues between different metering systems
Restraints:
Cybersecurity risks associated with data collection and communication
Opportunities:
Integration of blockchain technology for secure data management and Use of artificial intelligence (AI) for demand forecasting and anomaly detection
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Strategic Business Planners, Government Regulatory, Research Organizations, End-Use Industries and Others