Smart Meter Market Report: Global Industry Analysis, Outlook By Type, Technology, End-User, Region, And Forecast 2024

Global Smart Meter Market Projected to Reach USD 19.1 Billion by 2024

Global smart meter market is witnessed to be propelling on the back of collection & integrating the utility information on a real-time basis and using the data to manage the operational technologies. According to Goldstein Research, global smart meter market size is expected to reach USD 19.1 billion by 2024, growing at a compounded annual growth rate of 8.25% during the forecast period 2016-2024. Global smart meter market segmentation has been carried out on the basis of smart meter type, technology, end user, and geography. Based on smart meter type, smart electric meters segment dominated the global smart meter market share with 40.0% in 2016.

Smart electric meters market is registering a growth of 9.7% CAGR over the forecast period. The advancement & developments in the global smart grid market are rising the number of electric smart meters installations. Further, Global smart meter industry is estimated to be dominated by the Asia Pacific with a market share of 35.0% in 2016. China accounts for highest revenue contribution in the Asia Pacific smart meter market due to the fast development of sustainable energy plants. The Asia Pacific is further followed by Europe market share owing to increasing investments in a region for the installation of smart meters.

Market Segmentation

On the basis of our in-depth analysis, Global Smart Meter Market can be segmented as follows:

  • By Type
    • Smart Electric Meters
    • Smart Water Meters
    • Smart Gas Meters
  • By Technology
    • Automatic Meter Reading (AMR)
    • Advanced Metering Infrastructure (AMI)
  • By End User
    • Industrial
    • Commercial
    • Residential 
  • By Region
    • North America (US, Canada) {Market Share (%), Market Size (USD Billion, Adoption Rate (%)}
    • Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
    • The Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of the Middle East & Africa) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
    • Latin America (Brazil, Mexico and Rest of Latin America) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
    • Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
    • Rest of the World {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}

 

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Global Smart Meter Market Outlook 2024” contains a detailed overview of the global smart meter market. On the basis of our in-depth analysis, the market can be segmented in terms of market segmentation by smart meter type, technology, and end user.

Further, for the in-depth analysis, Global Smart Meter Market Report encompasses the market growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis. This market report also includes competitive outlook of some of the major players profiling of companies such as Itron, Inc., Kamstrup A/S, Sensus, GE Digital Energy, Holley Metering, Ltd., Honeywell International, Elster, Landis + Gyr, Echelon, Schieder Electric and Toshiba Corporation. Other high-flying vendors in the market are Xemtec, Secure Together, Kamstrup, Sagemcom, Iskraemeco, etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services, and industries catered, financial analysis of the company and recent developments.

Overall, the report represents the global smart meter industry trends along with the market forecast that will help market consultants, technology providers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.

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