Growing demand for accurate billing and increasing efforts towards energy conservation will increase the Global Smart Meter Market growth. Smart meter is the next generation of a gas and electricity meter. It measures the amount of electricity a customer uses. It digitally send meter readings to the energy supplier for more accurate energy bills. Stringent government regulations for the adoption of smart meter also fuelling the growth of the market. However high installation costs is the factor may hamper the growth of the market.
Global Smart Meters Market is projected to grow at a CAGR of 8.7% during the forecast period.
North America region dominates the global smart meters market
On the basis of region, North America dominates the smart Meters market. Increasing repairing & upgradation of aging infrastructure activities, and monitoring & prevention of leakage driving the growth of the market. Additionally, lot of smart meters rollouts are taking place in countries such as the U.S., Canada, and Mexico which would impart growth in the North American region. Europe is expected to contribute significantly during the forecast period. Increasing demand and stringent government regulations in Europe driving the growth of the market in the region.
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Asia Pacific is expected to be the fastest growing region during the forecast period. Rapid growth in residential, commercial, and industrial sector driving the growth of the market in the region. Additionally increasing investments in smart grid, smart city & the gas pipeline networks also fuelling the growth of the market. China remains the most prominent market in Asia Pacific region. Strict government regulations in China, pushed the mass deployment of smart meters over the recent years. Additionally, China is the key manufacturer of smart meters.
The key players of Global Smart Meters Market are Itron, Inc. (U.S.), Siemens AG (Germany), Sensus (Xylem) (U.S.), Badger Meter, Inc. (U.S.), Aclara Technologies, LLC. (U.S.), Kamstrup A/S (Denmark), Holley Metering, Ltd. (China), Honeywell International, Inc. (U.S.), Wasion Group (China), and Toshiba Corporation (Japan)
Scope of the Report
The scope of the study segments the global smart meters market by its on type, technology, application and region.
- Smart Electricity Meters
- Smart Gas Meters
- Smart Water Meters
- Automatic Meter Reading (AMR)
- Advanced Metering Infrastructure (AMI)
- North America
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Table of Content
1… Executive Summary
2 Research Methodology
2.1 Scope Of The Study
2.1.2 Research Objective
2.2 Research Process
2.2.1 Primary Research
2.2.2 Secondary Research
2.3 Market Size Estimation
2.4 Forecast Model
3… Market Dynamics
3.1 Market Drivers
3.2 Market Inhibitors
3.3 Supply/Value Chain Analysis
3.4 Porter’s Five Forces Analysis
4 Global Smart Meters Market, By Type
4.2 Smart Electricity Meters
4.3. Smart Gas Meters
4.4 Smart Water Meters
5 Global Smart Meters Market, By Technology
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