Smart Meters Market 2019 Trends, Size, Growth, Share, Business Insight, Opportunities, Regional Analysis, Key Players, And Global Industry Forecast To 2023
According to “Smart Meters Market 2019 Global Size, Share, Trends, Regional Analysis and Industry Outlook Report” published by Market Research Future, The Global Smart Meters Market to grow at 8.7% CAGR by 2023. Smart Meters Industry 2019 Report Segments Market for Smart Meters.
Pune, India – October 8, 2019 /MarketersMedia/ —
According to “Smart Meters Market 2019 Global Size, Share, Trends, Regional Analysis and Industry Outlook Report” published by Market Research Future, The Global Smart Meters Market to grow at 8.7% CAGR by 2023. Smart Meters Industry 2019 Report Segments Market for Smart Meters by Type (Electric Meters, Gas Meters and Water Meters), Technology (Automatic Meter Reading (AMR) and Advanced Metering Infrastructure (AMI)), Application (Residential, Commercial and Industrial), and Region.
Global Smart Meters Key Players Analyzed in Report –
Players leading the global smart meters market include Landis+Gyr (Switzerland), Itron, Inc. (US), Siemens AG (Germany), Sensus (Xylem US), Aclara Technologies, LLC. (US), Kamstrup A/S (Denmark), Badger Meter, Inc. (US), Honeywell International, Inc. (US), Toshiba Corporation (Japan), Holley Metering, Ltd. (China), Wasion, and Group (China), among others.
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Global Market Highlights:
A smart meter can read and display the consumption of electricity, gas, and water and helps in controlling their usages. It can show accurate real-time data and advanced data analytics for the day-to-day utilization of electricity/gas/water. Smart meters have increased in popularity lately due to the need for high accuracy in meter readings while simultaneously achieving savings due to real time results. The real-time results in smart meters are enabled due to a secure national communication network (called the DCC) wirelessly and automatically sends the actual energy usage data to your provider.
As the billing of energy output for gas and electricity is significantly reliant on meters, the demand for smart meters has grown gradually in the past few years due to the efficiency offered by them. The market is projected to make revenues worth USD 29,583.1 million while expanding at a CAGR of 9.55 percent approximately in the duration of the forecast period from 2017 to 2023.
Moreover, the smart meters can automatically send the collected data to the suppliers and users on their mobile application. Accessing wireless meters reading network and software on a handheld/ mobile unit, operators can get the meter reading, remotely.
The supportive government initiatives in many countries globally are substantially powering the growth of the market. Moreover, the benefits of smart meters such as improved customer experience, accurate billing, and enhanced customer service are anticipated to be the key drivers for the smart meter market in emerging countries. Intensifying consumption of gas, together with the escalating energy expenses will also fuel the demand for smart gas metering systems in the upcoming period.
Market Segments Analysis:
For the scope of the research, MRFR’s report offers a comprehensive segmental analysis of the global market for smart meters
By Type:
Electric Meters
Gas Meters
Water Meters
By Technology:
Automatic Meter Reading (AMR)
Advanced Metering Infrastructure (AMI)
By Application:
Residential
Commercial
Water Meters
Regional Market Insights:
North America is likely to retain its dominance over the global smart meters market throughout the forecast period. Increasing upgrade activities of aging infrastructures and efforts to monitoring & control electricity wastages are substantiating the growth of the market in the region. Government policy mandates and fiscal incentives are key driving forces creating a massive demand for smart gas meters in the region.
The Asia Pacific region is a major market for smart meter globally. Increasing smart cities projects in countries like Thailand, India, China, and others which are driving the growth of the market significantly. As the demand for energy in the region is high due to the rising population level and enhancement in the lifestyle in the region. This has led to an upsurge in investment in T&D, which will raise the demand levels in the market. The Asia Pacific region is likely to develop at the highest CAGR of 9.91 percent through the forecast period. China is the world’s major market for the power transmission & distribution and is also the key consumer of smart grid technology. China’s pledge towards green development will create a tremendous requirement for smart grid technologies.
The smart meters market in the European region has emerged as another lucrative, globally. Due to the increasing market demand and stringent government regulations, the region would significantly contribute to the global market during the forecast period.
Table of Contents
1 Executive Summary
2 Market Introduction
2.1 Market Definition
2.2 Scope Of The Study
2.3 Market Structure
3 Research Methodology
3.1 Primary Research
3.2 Secondary Research
3.3 Market Size Estimation
3.4 Forecast Model
3.5 List Of Assumptions
3.6 Limitations Of The Study
4 Market Insights
5 Market Dynamics
5.1 Introduction
5.2 Market Drivers
5.3 Market Restraints
5.4 Market Opportunities
5.5 Porter’s Five Forces Analysis
5.5.1 Threat Of New Entrants
5.5.2 Bargaining Power Of Buyers
5.5.3 Bargaining Power Of Suppliers
5.5.4 Threat Of Substitutes
5.5.5 Intensity Of Rivalry
5.6 Value Chain/Supply Chain Analysis
Continued…
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