Smart meters are modern electronic devices that measure and record energy, water or gas consumption. They communicate the information to the customer for better clarity of consumption behavior, and electricity suppliers for system monitoring and customer billing. What makes smart meters unique is their ability to enable two-way communication between the meter and the central system.
On a international scale, many nations are dealing with demanding situations to fulfill the developing call for for electricity. Thus utilities are searching out progressive and green methods to manipulate generation, transmission and global distribution of electricity. Global clever meter marketplace includes virtual digital gadgets for measuring and two-manner statistics sharing to manipulate and manage electricity intake via way of means of customers. Customers additionally have the gain of monitoring their electricity intake and billing thru internet.
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Global smart meter market demand is more in residential areas as compared to commercial areas and electric smart meter is prominently used among the types of smart meters. Environmental concerns for reducing carbon and energy wastage and for regulating supply of energy, are major factors driving global smart meter market. Global smart meter market is anticipated to grow with a single digit compound annual growth rate during the forecast period.
Smart Meter Market: Drivers & Restraints
The major driving factor for the growth of global smart meter market is government support and incentives, as utilities are initially reluctant to make huge investment in new technology without their support. Technological advancements such as smart grid development, infrastructure development, growing population and rise in economic developments are some of the other factors boosting the growth of global smart meter market. The successful deployment of global smart meter market is dependent on logistics which influences the delivery, installation and performance of smart meter. The health effects concerning wireless signals in smart meter, security concerns, regulatory constraints and stiff competition are some of the challenges faced by global smart meter market.
Smart Meter Market: Region-wise Outlook
Global smart meter market is expected to exhibit healthy growth in Asia-Pacific and Western Europe regions which is either due to increasing installation of new smart meters as well as upgradation of the existing smart meters. China is expected to display substantial progress of global smart meter market, as incorporated in its five-year nationwide plan to upgrade its grid infrastructure. In Japan, large scale installation by Tokyo Electric Power Company (TEPCO) started on 2014 which is expected to last during the forecast period leading to increase in demand for global smart meter market. In North, America, the growth of global smart meter market is expected to slower down as infrastructure for energy is well developed and funding for the new projects has become limited. In Latin America, global smart meter is set to exhibit steady growth of global smart meter market, as compared to Middle East and Africa.
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Smart Meter Market: Key Players
Some of the key players in global smart meter market are: Aclara Technologies LLC., Echelon Corporation, Elster Group GmbH, General Electric, Holley Metering Limited, Iskraemeco d.d., Itron, Kamstrup A/S, Landis+Gyr and Sensus.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies and End Use industries.
The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Technology
- Value Chain
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Japan
- Middle East and Africa (GCC, S. Africa, N. Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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On the basis of product type, global smart meter market can be segmented into following segments:
- Smart electric meter
- Smart gas meter
- Smart water meter
On the basis of application, global smart meter market can be segmented into:
- Residential application
- Commercial application
On the basis of technology, global smart meter market can be segmented into:
- Radio Frequency (RF)
- Power Line Carrier (PLC)
Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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