Power Metering Market Growth and Outlook:
A new research document titled, “Power Metering Market” is released by MMR. The market study is a cautious attempt of the industry with strategic steps to the targets of the business environment and the ones that are tried to have an essential impression on the progression of the Power Metering market. AMA recognizes the following companies as the major players in the Power Metering market which include.
In this research, we discuss all market aspects. Positive aspects, constraints, possibilities, and problems are all discussed in depth in the paper, and all data is gathered from press releases and yearly reports. The goal of the study is to propose a patent-based strategy for finding possible technology partners as a tool for encouraging open innovation. The report’s market share research and comparison of the leading players allow users to take additional steps in their organization’s growth or improvement.
Expected Growth of Revenue:
Power Metering Market was valued at US$ 14.2Bn in 2020 and is expected to reach US$ 29.4Bn by 2026 at a CAGR of 9.5% during a forecast period.
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Power Metering Market Dynamics:
Power metering is an electronic device that measures energy consumption & is designed for billing and monitoring drives. The power metering replaces electric meters while offering related data metrics. Features such as environmental concerns, technological up-gradation, and low maintenance cost, and two-way communication as compared to electric meter as well as very high operating efficiency is a factor driving the power metering market globally.
Power Metering Market Leading Companies:
• ABB
• Aclara Technologies LLC
• Eaton
• Honeywell International Inc.
• General Electric
• Kamstrup A/S
• Toshiba Energy Systems & Solutions Corporation
• Schneider Electric
• Sensus
• Siemens AG
• Itron
• Melrose Plc
• Wasion Group Holdings Ltd.
• Holley Metering
• Jiangsu Linyang Electronics Co. Ltd.
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Power Metering Market Segmentation Analysis:
According to the application sector, the residential sub-segment now controls the global power metering market. Due to the widespread usage of metres in residences, the residential sector dominates the market. The market is primarily driven by expanding construction and industrial activity as well as the replacement market for outdated metres.
Government mandates to replace outdated digital metres with smart metres are another factor driving the market upward. While obstacles for the home market include privacy concerns and the standardisation of the power metre.
Power Metering Market Regional Trends:
- North America (U.S., Canada)
- Europe (U.K., Germany, France, Italy)
- Asia Pacific (China, India, Japan, Singapore, Malaysia, South Korea )
- Latin America (Brazil, Mexico, Argentina, Chile)
- Middle East & Africa (South Africa, Egypt, and Saudi Arabia)
The Power Metering market is very focused because of the nearness of many key organizations. The main Players are focusing on presenting new products/services and are constantly upgrading their existing offerings to keep pace with the overall industry.
Power Metering Market Research Methodology:
- The top-down and bottom-up approaches are used to estimate and validate the size of the Power Metering market.
- In order to reach an exhaustive list of functional and relevant players, various industry classification standards are closely followed such as NAICS, ICB, and SIC to penetrate deep into important geographies by players, and a thorough validation test is conducted to reach the most relevant players for survey in Power Metering market.
- In order to make a priority list sorting is done based on revenue generated based on the latest reporting with the help of paid databases such as Factiva, Bloomberg, etc.
- Finally, the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting a prior appointment by targeting a key target audience that includes.
- Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that include Regulators, World Bank, Association, Company Website, Annual reports, press releases, etc.
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