0
2021
Smart Meter Market

Smart Meter Market

By Product (Smart Electricity Meter, Smart Gas Meter, and Smart Water Meter) and End Use (Residential, Commercial, and Industrial): Global Opportunity Analysis and Industry Forecast, 2021-2030

Report Code: A00816
Pages: 224
Dec 2021 | 17451 Views
Author(s) : Avinash Savekar , Vineet Kumar
Tables: 96
Charts: 79
  • Formats*:

  • Single User License, Five User
    License & Enterprise User License

  • Data Pack Excel License

  • It comes with the additional cost
    of $2500.00 contact sales.

 

COVID-19

Pandemic disrupted the entire world and affected many industries.

Get detailed COVID-19 impact analysis on the Smart Meter Market

Request Now !

The global smart meter market size was valued at $21.79 billion in 2020 and is projected to reach $54.34 billion by 2030, growing at a CAGR of 10.10% from 2021 to 2030.

Smart meters are electronic devices that accurately monitor electricity, gas, and water usage. These smart meters can send usage information through power line communication, radiofrequency electromagnetic radiation (RF), and cellular communication, helping the utility company to effectively manage the energy usage. Smart meters offer a host of benefits such as reduction of meter reading cost, preventing disconnection, removing inefficiencies in billing, and re-connection costs to corporations and consumers. 

The ongoing COVID-19 pandemic has abruptly re-shaped the global economy. Sudden decline in infrastructure development and installation projects is expected to hamper the smart meter market for residential and commercial industry. The industry has responded well to this increased demand, which help created an opportunity for new technologies to be deployed into a welcoming market. To advantage, the leading manufacturers need to ensure that their products meet the expectations of consumers alongside regulatory and security requirements. Due to the ongoing COVID-19 crises, the market is expected to witness abrupt downturn this year. However, a slow recovery is anticipated to begin next year. Conversely, growing financial incentives for digitalization of grids and supportive government policies are expected to strengthen the smart meter market opportunity post COVID-19.For instance, in 2019 the Ministry of Power introduced the Smart Meters National Program (SMNP) with an ambitious plan to roll out 250 million smart meters over the next three years.

Furthermore, surging investment interest in digitalization of electrical systems, and efforts to expand grid infrastructures are expected to create growth opportunities for smart electricity meter market. Increase in electricity demand from commercial and residential sectors also provide opportunities for the market growth. For instance, Reliance Industries has been focusing on the smart electricity meter market after signing multi-billion dollar deals for Jio Platforms and Reliance Retails.

Smart-Meter-Market-2021-2030

The major factors that drives the smart meter market growth are development of communication network infrastructure, government initiatives, and high investments in digital electricity infrastructure. In addition, large scale installations of the smart meters by the utility companies are focusing on strengthening the distribution of the smart meters. 

However, high cost of installations of the smart meters borne by end users restrain the growth of the market. Various grid operators and other gas utility and water utility providers are effectively managing the demand for smart meters. However, various benefits offered by the market such as automatic meter reading and bill generation are further expected to contribute toward the growth of the market.

In recent times, several factors have been integrated to make smart meters more remarkable, reliable, and affordable. The different connectivity technologies used by the smart meters are further fueling the growth of the market. The major benefits offered by the smart meter includes detection of any leakages in the supply, continuous monitoring of the electricity, gas and water flow, detection of any theft in the supply are helping toward the growth of the market. Also, the smart meters help in elimination of the manual monthly meter reading, and optimizes the profit with existing resources. 

Smart Meter Market
By Product

Your browser does not support the canvas element.

Smart Electricity Meter segment projected to be the most lucrative segment

Get more information on this report : Request Sample Pages

Segment Overview

The global smart meter market is segmented in terms of product, end use, and region. Further, on the basis of product, the market is segmented into smart electricity meter, smart water meter, and smart gas meter. On the basis of end use, it is divided into residential, commercial, and industrial.

Region-wise, the global smart meter market trend is analyzed across North America (U.S., Canada, and Mexico), Europe (France, UK, Spain Italy, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America and Middle East & Africa). Asia-Pacific is dominating the market, owing to the smart city projects initiatives are being adopted by many emerging and developed countries in Asia-Pacific.    

Smart Meter Market
By End Use

Your browser does not support the canvas element.

Residential segment will generate the highest revenue during the forecast period

Get more information on this report : Request Sample Pages

Top Impacting Factors

The prominent factors that impact the smart meter market growth are development of communication network infrastructure, government initiatives, and high investments in digital electricity infrastructure. However, high cost of installations of the smart meter is a major restraint to the market growth. On the contrary, developing smart city project is expected to create lucrative opportunities for the market. Therefore, these factors are expected to definitely affect the global smart meter industry during the forecast period.    

Smart Meter Market
By Region

2030
Asia-pacific 
North America
Europe
Lamea

Asia-Pacific region would exhibit the highest CAGR of 10.60% during 2021 - 2030

Get more information on this report : Request Sample Pages

COVID-19 Scenario Analysis

The smart meter market size has been significantly impacted by the COVID-19 outbreak. At the start of the outbreak, the main impact faced by many smart meter manufacturers was supply problems, owing to halted production. Due to lockdown measures, non-essential businesses, and the demand for the residential, commercial and industrial use of the smart meters have been decreased. 

Consequently, the manufacturing and supply of smart meter is returning to normal levels. Several manufacturers have started witnessing recovery in sales. Although the COVID-19 pandemic has forced the field work of several major smart metering projects to pause temporarily, the market is nonetheless expected to remain robust with the cumulative number of smart meter shipments being largely unaffected over a three-year period. 

Competitive Analysis

Competitive analysis and profiles of the major smart meter market players Itron Inc., Landis+Gyr, Schneider Electric SA, Siemens AG, Badger Meter, EDMI, Holley Metering Limited, Neptune Technology Group Inc., Sensus, and Honeywell International Inc., Kaifa Technology, Suntront Technology, Kamstrup Company, Aichi Tokei Denkei, and Wasion Group, are focusing their investment on technologically advanced, cost-effective, and more secure products and solutions for various applications.

Key Benefits For Stakeholders

  • This study comprises analytical depiction of the global smart meter market outlook along with the current trends and future estimations to depict the imminent investment pockets.
  • The overall smart meter market analysis is determined to understand the profitable trends to gain a stronger foothold. 
  • The report presents information related to key drivers, restraints, and smart meter market opportunities with a detailed impact analysis. 
  • The current smart meter market forecast is quantitatively analyzed from 2021 to 2030 to benchmark the financial competency. 
  • Porter’s five forces analysis illustrates the potency of the buyers and the smart meter market share of key vendors.  
  • The report includes the market trends and the market share of key vendors.

Smart Meter Market Report Highlights

Aspects Details
By Product
  • Smart Electric Meter
  • Smart Water Meter
  • Smart Gas Meter
By End Use
  • Residential
  • Commercial
  • Industrial
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (UK, Spain, France, Italy, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East & Africa)
By Key Market Players
  • Itron Inc.
  • Landis+Gyr
  • Schneider Electric SA
  • Siemens AG
  • Badger Meter
  • EDMI
  • Holley Metering Limited
  • Neptune Technology Group Inc.
  • Sensus
  • Honeywell International Inc.
  • Kaifa Technology
  • Suntront Technology
  • Kamstrup Company
  • Aichi Tokei Denkei
  • Wasion Group
 

Loading Table Of Content...


 
 

Smart meters are the electronic devices that records and analyses consumption of electrical energy and sends back the information to the respective electricity supplier for billing and the regulation. The smart meter automatically detects any theft or tampering in the electricity and alerts the company about it. The data gathered through the smart electricity meter permits the energy distributers and the utility companies to enhance the power distribution losses across the grid. 

The major factor that drives the smart meter market is supportive government policies and financial incentives. In addition, large scale installations of the smart meters by the utility companies are focusing on strengthening the distribution of smart meters. However, high cost of installations of the smart meters borne by end users restrain the growth of the smart meter market. Various grid operators and other gas utility and water utility providers are effectively managing the demand for smart meters. However, various benefits offered by the smart meter market such as automatic meter reading and bill generation are further expected to contribute toward the growth of the smart meter market.

The report focuses on the growth prospects, restraints, and trends of the smart meter market analysis. The study provides Porter’s five forces analysis to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers in the smart meter market.

PURCHASE OPTIONS

Call or Email us

U.S.-Canada Toll-free: +1-800-792-5285
Int'l : +1-503-894-6022
Europe : + 44-845-528-1300
Email : help@alliedmarketresearch.com
 
FREQUENTLY ASKED QUESTIONS?

A. The Smart Meter Market is estimated to grow at a CAGR of 10.10% from 2021 to 2030.

A. The Smart Meter Market is projected to reach $54.34 billion by 2030.

A. To get the latest version of sample report

A. Development of communication network infrastructure and high investments in digital electricity infrastructure etc. boost the market growth.

A. The key players profiled in the report include Itron Inc., Landis+Gyr, Schneider Electric SA, Siemens AG, and many more.

A. On the basis of top growing big corporations, we select top 10 players.

A. The Smart Meter Market is segmented on the basis of product, end use, and region.

A. The key growth strategies of Smart Meter market players include product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations.

A. Asia-Pacific region would grow at a highest CAGR of 10.6% during the forecast period.

A. Smart Electricity Meter segment will dominate the market during 2021 - 2030.

Looking for Customization?

 Customization Request

Have a Question?

 Speak with Analyst

Any Confusion?

 Inquire Before Buying

Have a glance of the Report

  Request Free Sample
RELATED TAGS
 

HAVE QUESTIONS?
SPEAK WITH ANALYST

 

DID YOU MISS ANYTHING?
DO YOU HAVE SPECIFIC REQUIREMENTS?

 

Download Free Sample

OR

Purchase Full Report of
Smart Meter Market

Start reading instantly.
This Report and over 18,754+ more Reports, Available with Avenue Library. T&C*.

  • Online Only
  • $3,713
  • Online cloud access only
  • Restricted print, copy, paste & download
  • Read only
  • Free industry update
    (Within 180 days)
  • Free report update in next update cycle
    (Dec 2022 - Dec 2023)
  • Data Pack
  • $4,126
  • Restricted to one authorized user
  • One print only
  • Available in
    Excel
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
    (Dec 2022 - Dec 2023)
  • Single User
  • $5,770
  • Restricted to one authorized user
  • One print only
  • Available in
    PDF
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
    (Dec 2022 - Dec 2023)
  • Five Users
  • $6,930
  • Limited to five authorized users
  • Print upto five copies
  • Available in
    PDF
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
    (Dec 2022 - Dec 2023)
  • Enterprise
    License/PDF

  • $10,665
  • Unlimited
    within
    company/enterprise
  • Available in Excel & PDF
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
    (Dec 2022 - Dec 2023)
  • Library
    Membership

  • $ 999
    Per User/ Per month/ Billed annually
  • Published Content
    E-access
  • Company Profiles
    E-access
  • Newly Added Content Access
  • 10 PDF
    Downloads
  • 5 Excel Data
    Pack Downloads
  • 250 Company Profiles PDF Downloads
  • Buy Now

*Taxes/Fees, if applicable will be added during checkout. All prices in USD

 

Why Allied Market Research?

 

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers

Get fresh content delivered

Get insights on topics that are crucial for your business. Stay abreast of your interest areas.

Get Industry Data Alerts

Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers