Overview
With the growing consumption of energy worldwide, better energy monitoring systems are required to track energy usage. Ever-rising electricity consumption coupled with wastage has become a concern for both utilities and consumers. Today’s world is one of data analytics, and details related to energy usage as well as wastage can help reduce energy wastage. The conventional electric meter does not provide detailed usage data for energy consumption. Hence, smart meters are required to overcome the shortcomings of conventional meters.
A smart electricity meter is an electronic device that registers the amount of energy consumed by the user in a predetermined time interval and transmits the same to both the consumer and the utility provider for further monitoring and billing. It provides a two-way mode of communication with the central power grid.
Smart electricity meters are equipped with real-time sensors to monitor load penetration on the generation and distribution systems. It helps utility companies to provide a valuation based on the specific time for consumption of electricity. This system also benefits the consumers, as they can track their consumption and billing process, which is otherwise the most contentious subject between them and utility companies.
Governments across different countries are investing fortunes in developing new residential as well as commercial infrastructures. They are also striving to make cities smarter for better administration. All these factors provide a large horizon for the market for smart electric meters to grow.
Countries such as the U.K., Germany, and the USA have already started to invest in smart energy meters. Developing countries are also trying to adopt smart energy meters for better energy consumption. Consequently, the smart electricity meter market is set to witness profound growth in the coming years.
The global smart electricity meter market is segmented on the following bases:
By End-user
By Geography
- North America
- Europe
- Germany
- France
- UK.
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- South-east Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of the Middle East and Africa
Key players identified for the smart electricity meter market include, but are not limited to:
Holley Metering Ltd., Itron, Landis+Gyr, Jiangsu Linyang Electronics Co., Ltd., Delixi Group Co., Ltd., General Electric, Schneider Electric SA, Siemens AG, Elster Group, Iskraemeco, and others
This report offers the following:
- An overview of the global markets for smart electricity meters
- Market trends assessment for the period 2013–2023, with historical information for 2013–2015 and projections through 2023, with respective CAGRs during 2016–2023.
- Qualitative assessment tools such as market drivers, challenges, and future prospects in the market
- Market competition scrutiny tools such as market positioning analysis
- A general overview of the industry structure
- Company profiles highlight key information about the major players operating in the market.
