launchora_img

Smart Electricity Meter Market Size, Share, Analysis, Global Industry Report till 2020-2027

Info

Smart Electricity Meter Market

GMI Research encounters the increasing digitalization and industrializations is the major factor fueling the smart electricity meter market. The market is projected to expand at a CAGR OF 4%, reaching a value of USD 13,625 Million by 2027. Smart electric meters are energy-efficient and cost-effective electronic devices, which reduces the chances of electricity failure and blackout.

Increasing adoption of IoT devices, rising incidences of energy theft, and emerging need for effective data monitoring systems are the major factors driving the smart electricity meter market. Government across the world have enforced various initiatives to encourage the adoption of smart electricity meters to minimize carbon footprint. Growing use of smart electricity meters in the residential industry to automatically measure the energy consumed by consumers and increasing investment in smart grids will further propel the Smart Electricity Meter Market share.

By Phase, the three-phase segment is forecast to expand at a faster CAGR over the forecast period, owing to their growing adoption across commercial sectors. The three-phase meters are cheaper than the single-phase meters and offer higher power density.

By End-User, the residential segment is predicted to lead the market over the forecast period owing to the increasing installation of smart meters in residential sectors to reduce electricity bill, monitor and regularize energy consumption.

By region, the Asia-Pacific region is anticipated to expand at a higher CAGR during the forecast period, owing to the growing use of smart electric meters. As per the Smart Electricity Meter Market forecast, growing demand for electricity across the Asian countries has strengthened the market growth.

Leading players operating in the market include Landis+Gyr (Toshiba Corporation), The Benchmarking Company, Itron Inc., Aclara Technologies LLC, Iskraemeco, d.d., Honeywell International Inc., Microchip Technology Inc., Wasion Group, Jiangsu Linyang Energy Co. Ltd., and Schneider Electric among others.

Key Developments:

In 2020, Itron Inc., collaborated with Bidgely, an artificial intelligence-powered SaaS company to maximize consumer satisfaction, and improve customer engagement and experience.

In 2020, Honeywell International Inc., entered in a partnership with Verizon’s Managed Connectivity LTE solution. This partnership helped Honeywell to offer a wireless networking platform to its target customers.

Smart Electricity Meter Market Segmentation:

Smart Electricity Meter Market by Phase

• Single Phase

• Three Phase

Smart Electricity Meter Market by Communication Technology Type

• Power Line Communication

• Radio Frequency

• Cellular

Smart Electricity Meter Market by End-User

• Residential

• Commercial

• Industrial

Smart Electricity Meter Market by Region:

• Asia Pacific

o China

o Japan

o India

o Rest of APAC

• North America

o United States of America

o Canada

• Europe

o United Kingdom

o Germany

o France

o Spain

o Rest of Europe

• RoW

o Brazil

o South Africa

o Saudi Arabia

o UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

Media Contact

Company Name: GMI RESEARCH

Contact Person: Sarah Nash

Email: enquiry@gmiresearch.com

Phone: Europe – +353 1 442 8820; US – +1 860 881 2270

Address: Dublin, Ireland

Website: www.gmiresearch.com


Be the first to recommend this story!
launchora_img
More stories by arif
Night Vision Device Market Research Report Size, S...

Night Vision Device Market Research Report

00
Functional Safety Market Research Report by System...

The factors driving the growth of Functional Safety Market includes increasing application

00
GCC Smart Lighting Market Research Report by Appli...

By communication type, the wireless technology segment is anticipated to expand at a higher CAGR

00

Stay connected to your stories

Smart Electricity Meter Market Size, Share, Analysis, Global Industry Report till 2020-2027

27 Launches

Part of the Culture collection

Published on June 13, 2022

Recommended By

(0)

    WHAT'S THIS STORY ABOUT?

    Characters left :

    Category

    • Life
      Love
      Poetry
      Happenings
      Mystery
      MyPlotTwist
      Culture
      Art
      Politics
      Letters To Juliet
      Society
      Universe
      Self-Help
      Modern Romance
      Fantasy
      Humor
      Something Else
      Adventure
      Commentary
      Confessions
      Crime
      Dark Fantasy
      Dear Diary
      Dear Mom
      Dreams
      Episodic/Serial
      Fan Fiction
      Flash Fiction
      Ideas
      Musings
      Parenting
      Play
      Screenplay
      Self-biography
      Songwriting
      Spirituality
      Travelogue
      Young Adult
      Science Fiction
      Children's Story
      Sci-Fantasy
      Poetry Wars
      Sponsored
      Horror
    Cancel

    You can edit published STORIES

    Language

    Delete Opinion

    Delete Reply

    Report Content


    Are you sure you want to report this content?



    Report Content


    This content has been reported as inappropriate. Our team will look into it ASAP. Thank You!



    By signing up you agree to Launchora's Terms & Policies.

    By signing up you agree to Launchora's Terms & Policies.