Smart Electric Meter Market Scope
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 Electric utility companies have been replacing the outdated analog meters with the new, high-tech digital smart meter versions.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 | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | 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) |
CAGR | % |
Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Smart Electric Meter market throughout the predicted period.
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 Players which are also part of the research are Holley Technology Ltd (China) and Badger Meter (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 Smart Electric Meter market by Type and Region with country level break-up.
On the basis of geography, the market of 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).
region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
Recently, Xylem Inc., a leading global water technology company dedicated to solving the world’s most challenging water issues, has acquired Sensus USA Inc. Sensus has a very broad product portfolio in metering and is well-positioned in the advanced metering infrastructure (AMI) segment.
Influencing Trend:
Shifting Trend towards Adoption of Energy Efficient Technologies
Market Growth Drivers:
Provides Quick and Real-Time Data of 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
Key Target Audience
Smart Electric Meter Manufacturers, Research Professionals, Emerging Companies, Distributors, Government Body & Associations and End-user