About Smart Electricity Meters
Smart electricity meters are a device used to measure the most accurate amount of electricity consumed by a residence, business, or any electrically-powered device. It is a reliable source for accurate information of consumed energy that reduces the chance of error in the existing billing system to minimal. Smart meters include first-generation smart meters also called AMR meters and second-generation smart meters also called AMI meters. AMR offers for self-health check of the meter, data communication using secure and open standard protocols, and others. On the other hand, AMI meters offer effective utilization and management of metering data, automatic management of meters, and others.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The Smart Electricity Meters market is fragmented due to many players. The players are investing in strategic activities like mergers, acquisitions, and launches. The new product launching will help customers to easily use the smart electricity meters as well as the acquisition to enhance their global presence in the industry. 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.
Schneider Electric (France), Landis+Gyr (Switzerland), Itron (United States), General Electric (United States), Elster Group SE (United States), Kamstrup (Denmark), Electronics B2B (India), CyanConnode Holdings (United Kingdom) and Genus Power Infrastructures Ltd. (India) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Smart Electricity Meters market by Type (AMR meters, AMI meters, CT-PT Meter, Distribution Transformer Operated Meter, Single-phase and Three-phase) and Region.
On the basis of geography, the market of Smart Electricity Meters has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, 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 Features, the sub-segment i.e. Bidirectional Communication will boost the Smart Electricity Meters market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component, the sub-segment i.e. Power System will boost the Smart Electricity Meters market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Verticals, the sub-segment i.e. Residential will boost the Smart Electricity Meters market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Need for the Accurate Measurement of Electricity Consumption and Rapidly development of Smart Cities and Smart Grids
Market Growth Drivers:
Growing Replacement of Electrochemical and Old Meters and Renewable Integration and Energy Management Practices
Challenges:
The Security Related Risk of Metering Data
Restraints:
Smart Meters Put Human Meter Readers Out of Work
Opportunities:
Increasing Demand for Smart Electricity Meters and Government Initiatives for Efficient Utilization of Present Generation Capacity
Market Leaders and their expansionary development strategies
On 29th September 2021, Landis+Gyr has acquired Luna Elektrik Elektronik Sanayi ve Ticaret, a provider of smart metering devices and solutions for water, heat, and electricity. The acquisition is owing to expand Landis+Gyr’s smart metering business in all that countries where the company has a footprint. The acquisition helps Landis+Gyr to exploit opportunities in the Turkish smart meter industry.
On 30th March 2021, Itron has launched a residential smart electricity meter named eHZ-B for the German market. eHZ-B is built with innovative functionality to fund Germany’s ongoing energy transition to a low carbon, environmentally sound, reliable, and affordable energy supply, etc. The new launch is owing to the cities to safely migrate to a smart and connected distribution network.
Key Target Audience
Smart Electricity Meters Manufacturers, Smart Electricity Meters Suppliers and Distributors, New Entrants, Regulatory Bodies, Potential Investors, Research and Development Institutes 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.