The smart electric meter market is expected to grow from USD 9.2 billion in 2020 to USD 14.45 billion by 2028, at a CAGR of 5.8% during the forecast period 2021-2028.
The smart electric meter is an electronic device that functions to record details such as voltage level, current, electric energy, and power factor. The smart electric meters communicate details to the user for greater clarity of electricity supplier and consumption behavior for customer billing and system monitoring. The smart electric meter records energy near real-time and reports in short intervals throughout the day. Smart electric meters are used to record and manage electricity and the performance of electronic devices at home. The ability of the smart electric meter to provide accurate and detailed analytics on electricity usage at predetermined intervals and in real-time makes the meter smart.
The rise in renewable power project investment, rise in grind infrastructural developments, and growth in distribution & transmission expenditure has caused a surge in demand for smart electric meters. The increase in electricity prices and the growing incident of electricity theft has increased the need for the smart electric meter. Furthermore, the changing technology, change in consumer preference, and growing demand for meters with high performance and efficiency have triggered growth in the smart electric meter market. The growing demand for electricity due to industrialization and urbanization has propelled the smart electric meter market. Producers are making high investments in research & development activities that have resulted in product innovation and safety. These are the factors driving the global smart electric meter market. The resistance towards the installation of new technology by end-user is a pitfall in the growth of the global smart electric meter market.
This study delivers a comprehensive analysis of technology, application, phase, and region. The technology segment includes AMI and AMR. The AMI is leading the technology segment. The growth is attributed to the surge in investment for the increasing integration of smart grid infrastructure and the expansion of renewable energy networks. AMI stands for Advanced Metering Infrastructure, where growth in the implementation of AMI technology across reducing energy shortage, customer service improvement and utilities for load management has triggered the AMI demand. The application segment involves commercial, residential, and utility. The residential is leading the application segment. The growth is attributed to the rise in residential infrastructure due to urbanization. The smart electric meter is widely installed in the residential sector as it helps to reduce the dependence on fossil fuels because the smart electric meter assists the consumer to regularize, monitor, and reduce the consumption from generators and grids. The phase segment involves three-phase and single phases. The single-phase is leading the phase segment. The growth is attributed to high power consumption in residential sector establishments involving multi-story buildings, apartments, the commercial sector in residential buildings has triggered the use of single-phase smart electric meters.
The market has been divided into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. Europe is leading the regional segment. The growth is attributed to a leap in regulatory inclination towards the adoption of standards & policies to address power outages and energy theft. Both private and government players extensively invest in integrated cloud-based technologies & applications in the commercial and residential sectors. The government is providing subsidies and incentives towards the integration of smart systems across the grid infrastructure.
Some of the notable players in the market are Kamstrup, Itron, Aclara Technologies, Honeywell Elster, Siemens, Osaki Electric, Circutor SA, Sensus, General Electric, Schneider Electric, and Larsen & Toubro Limited.
Smart Electric Meter Market Analysis and Forecast, Technology
Smart Electric Meter Market Analysis and Forecast, Phase
Smart Electric Meter Market Analysis and Forecast, Application
Smart Electric Meter Market Analysis and Forecast, Region
Report Description:
1. Introduction
1.1. Objectives of the Study
1.2. Market Definition
1.3. Research Scope
1.4. Currency
1.5. Key Target Audience
2. Research Methodology and Assumptions
3. Executive Summary
4. Premium Insights
4.1. Porter’s Five Forces Analysis
4.2. Value Chain Analysis
4.3. Top Investment Pockets
4.3.1. Market Attractiveness Analysis By Technology
4.3.2. Market Attractiveness Analysis By Phase
4.3.3. Market Attractiveness Analysis By Application
4.3.4. Market Attractiveness Analysis By Region
4.4. Industry Trends
5. Market Dynamics
5.1. Market Evaluation
5.2. Drivers
5.2.1. Increase in favourable government policies
5.2.2. Effective control & monitoring of energy consumption
5.2.3. Avoids electricity theft
5.3. Restrains
5.3.1. Resistance from end-user
5.4. Opportunities
5.4.1. Demand for energy efficiency and smart grids in emerging economies
6. Global Smart Electric Meter Market Analysis and Forecast, By Technology
6.1. Segment Overview
6.2. AMI (Advanced Metering Infrastructure)
6.3. AMR (Automatic Metering Reading)
7. Global Smart Electric Meter Market Analysis and Forecast, By Phase
7.1. Segment Overview
7.2. Single phase
7.3. Three phase
8. Global Smart Electric Meter Market Analysis and Forecast, By Application
8.1. Segment Overview
8.2. Residential
8.3. Commercial
8.4. Utility
9. Global Smart Electric Meter Market Analysis and Forecast, By Regional Analysis
9.1. Segment Overview
9.2. North America
9.2.1. U.S.
9.2.2. Canada
9.2.3. Mexico
9.3. Europe
9.3.1. Germany
9.3.2. France
9.3.3. U.K.
9.3.4. Italy
9.3.5. Spain
9.4. Asia-Pacific
9.4.1. Japan
9.4.2. China
9.4.3. India
9.5. South America
9.5.1. Brazil
9.6. Middle East and Africa
9.6.1. UAE
9.6.2. South Africa
10. Global Smart Electric Meter Market-Competitive Landscape
10.1. Overview
10.2. Market Share of Key Players in Global Smart Electric Meter Market
10.2.1. Global Company Market Share
10.2.2. North America Company Market Share
10.2.3. Europe Company Market Share
10.2.4. APAC Company Market Share
10.3. Competitive Situations and Trends
10.3.1. Technology Launches and Developments
10.3.2. Partnerships, Collaborations, and Agreements
10.3.3. Mergers & Acquisitions
10.3.4. Expansions
11. Company Profiles
11.1. Kamstrup
11.1.1. Business Overview
11.1.2. Company Snapshot
11.1.3. Company Market Share Analysis
11.1.4. Company Product Portfolio
11.1.5. Recent Developments
11.1.6. SWOT Analysis
11.2. Itron
11.2.1. Business Overview
11.2.2. Company Snapshot
11.2.3. Company Market Share Analysis
11.2.4. Company Product Portfolio
11.2.5. Recent Developments
11.2.6. SWOT Analysis
11.3. Aclara Technologies
11.3.1. Business Overview
11.3.2. Company Snapshot
11.3.3. Company Market Share Analysis
11.3.4. Company Product Portfolio
11.3.5. Recent Developments
11.3.6. SWOT Analysis
11.4. Honeywell Elster
11.4.1. Business Overview
11.4.2. Company Snapshot
11.4.3. Company Market Share Analysis
11.4.4. Company Product Portfolio
11.4.5. Recent Developments
11.4.6. SWOT Analysis
11.5. Siemens
11.5.1. Business Overview
11.5.2. Company Snapshot
11.5.3. Company Market Share Analysis
11.5.4. Company Product Portfolio
11.5.5. Recent Developments
11.5.6. SWOT Analysis
11.6. Osaki Electric
11.6.1. Business Overview
11.6.2. Company Snapshot
11.6.3. Company Market Share Analysis
11.6.4. Company Product Portfolio
11.6.5. Recent Developments
11.6.6. SWOT Analysis
11.7. Circutor SA
11.7.1. Business Overview
11.7.2. Company Snapshot
11.7.3. Company Market Share Analysis
11.7.4. Company Product Portfolio
11.7.5. Recent Developments
11.7.6. SWOT Analysis
11.8. Sensus
11.8.1. Business Overview
11.8.2. Company Snapshot
11.8.3. Company Market Share Analysis
11.8.4. Company Product Portfolio
11.8.5. Recent Developments
11.8.6. SWOT Analysis
11.9. General Electric
11.9.1. Business Overview
11.9.2. Company Snapshot
11.9.3. Company Market Share Analysis
11.9.4. Company Product Portfolio
11.9.5. Recent Developments
11.9.6. SWOT Analysis
11.10. Schneider Electric
11.10.1. Business Overview
11.10.2. Company Snapshot
11.10.3. Company Market Share Analysis
11.10.4. Company Product Portfolio
11.10.5. Recent Developments
11.10.6. SWOT Analysis
11.11. Larsen & Toubro Limited
11.11.1. Business Overview
11.11.2. Company Snapshot
11.11.3. Company Market Share Analysis
11.11.4. Company Product Portfolio
11.11.5. Recent Developments
11.11.6. SWOT Analysis
List of Table
1. Global Smart Electric Meter Market, By Phase, 2018-2028 (USD Billion)
2. Global Single phase, Smart Electric Meter Market, By Region, 2018-2028 (USD Billion)
3. Global Three phase, Smart Electric Meter Market, By Region, 2018-2028 (USD Billion)
4. Global Smart Electric Meter Market, By Technology, 2018-2028 (USD Billion)
5. Global AMI, Smart Electric Meter Market, By Region, 2018-2028 (USD Billion)
6. Global AMR, Smart Electric Meter Market, By Region, 2018-2028 (USD Billion)
7. Global Smart Electric Meter Market, By Application, 2018-2028 (USD Billion)
8. Global Utility, Smart Electric Meter Market, By Region, 2018-2028 (USD Billion)
9. Global Residential, Smart Electric Meter Market, By Region, 2018-2028 (USD Billion)
10. Global Commercial, Smart Electric Meter Market, By Region, 2018-2028 (USD Billion)
11. North America Smart Electric Meter Market, By Application, 2018-2028 (USD Billion)
12. North America Smart Electric Meter Market, By Technology, 2018-2028 (USD Billion)
13. North America Smart Electric Meter Market, By Phase, 2018-2028 (USD Billion)
14. U.S. Smart Electric Meter Market, By Application, 2018-2028 (USD Billion)
15. U.S. Smart Electric Meter Market, By Technology, 2018-2028 (USD Billion)
16. U.S. Smart Electric Meter Market, By Phase, 2018-2028 (USD Billion)
17. Canada Smart Electric Meter Market, By Application, 2018-2028 (USD Billion)
18. Canada Smart Electric Meter Market, By Technology, 2018-2028 (USD Billion)
19. Canada Smart Electric Meter Market, By Phase, 2018-2028 (USD Billion)
20. Mexico Smart Electric Meter Market, By Application, 2018-2028 (USD Billion)
21. Mexico Smart Electric Meter Market, By Technology, 2018-2028 (USD Billion)
22. Mexico Smart Electric Meter Market, By Phase, 2018-2028 (USD Billion)
23. Europe Smart Electric Meter Market, By Application, 2018-2028 (USD Billion)
24. Europe Smart Electric Meter Market, By Technology, 2018-2028 (USD Billion)
25. Europe Smart Electric Meter Market, By Phase, 2018-2028 (USD Billion)
26. Germany Smart Electric Meter Market, By Application, 2018-2028 (USD Billion)
27. Germany Smart Electric Meter Market, By Technology, 2018-2028 (USD Billion)
28. Germany Smart Electric Meter Market, By Phase, 2018-2028 (USD Billion)
29. France Smart Electric Meter Market, By Application, 2018-2028 (USD Billion)
30. France Smart Electric Meter Market, By Technology, 2018-2028 (USD Billion)
31. France Smart Electric Meter Market, By Phase, 2018-2028 (USD Billion)
32. U.K. Smart Electric Meter Market, By Application, 2018-2028 (USD Billion)
33. U.K. Smart Electric Meter Market, By Technology, 2018-2028 (USD Billion)
34. U.K. Smart Electric Meter Market, By Phase, 2018-2028 (USD Billion)
35. Italy Smart Electric Meter Market, By Application, 2018-2028 (USD Billion)
36. Italy Smart Electric Meter Market, By Technology, 2018-2028 (USD Billion)
37. Italy Smart Electric Meter Market, By Phase, 2018-2028 (USD Billion)
38. Spain Smart Electric Meter Market, By Application, 2018-2028 (USD Billion)
39. Spain Smart Electric Meter Market, By Technology, 2018-2028 (USD Billion)
40. Spain Smart Electric Meter Market, By Phase, 2018-2028 (USD Billion)
41. Asia Pacific Smart Electric Meter Market, By Application, 2018-2028 (USD Billion)
42. Asia Pacific Smart Electric Meter Market, By Technology, 2018-2028 (USD Billion)
43. Asia Pacific Smart Electric Meter Market, By Phase, 2018-2028 (USD Billion)
44. Japan Smart Electric Meter Market, By Application, 2018-2028 (USD Billion)
45. Japan Smart Electric Meter Market, By Technology, 2018-2028 (USD Billion)
46. Japan Smart Electric Meter Market, By Phase, 2018-2028 (USD Billion)
47. China Smart Electric Meter Market, By Application, 2018-2028 (USD Billion)
48. China Smart Electric Meter Market, By Technology, 2018-2028 (USD Billion)
49. China Smart Electric Meter Market, By Phase, 2018-2028 (USD Billion)
50. India Smart Electric Meter Market, By Application, 2018-2028 (USD Billion)
51. India Smart Electric Meter Market, By Technology, 2018-2028 (USD Billion)
52. India Smart Electric Meter Market, By Phase, 2018-2028 (USD Billion)
53. South America Smart Electric Meter Market, By Application, 2018-2028 (USD Billion)
54. South America Smart Electric Meter Market, By Technology, 2018-2028 (USD Billion)
55. South America Smart Electric Meter Market, By Phase, 2018-2028 (USD Billion)
56. Brazil Smart Electric Meter Market, By Application, 2018-2028 (USD Billion)
57. Brazil Smart Electric Meter Market, By Technology, 2018-2028 (USD Billion)
58. Brazil Smart Electric Meter Market, By Phase, 2018-2028 (USD Billion)
59. Middle East and Africa Smart Electric Meter Market, By Application, 2018-2028 (USD Billion)
60. Middle East and Africa Smart Electric Meter Market, By Technology, 2018-2028 (USD Billion)
61. Middle East Smart Electric Meter Market, By Phase, 2018-2028 (USD Billion)
62. UAE Smart Electric Meter Market, By Application, 2018-2028 (USD Billion)
63. UAE Smart Electric Meter Market, By Technology, 2018-2028 (USD Billion)
64. UAE Smart Electric Meter Market, By Phase, 2018-2028 (USD Billion)
65. South Africa Smart Electric Meter Market, By Application, 2018-2028 (USD Billion)
66. South Africa Smart Electric Meter Market, By Technology, 2018-2028 (USD Billion)
67. South Africa Smart Electric Meter Market, By Phase, 2018-2028 (USD Billion)
List of Figures
1. Global Smart Electric Meter Market Segmentation
2. Global Smart Electric Meter Market: Research Methodology
3. Market Size Estimation Methodology: Bottom-Up Approach
4. Market Size Estimation Methodology: Top-Down Approach
5. Data Triangulation
6. Porter’s Five Forces Analysis
7. Value Chain Analysis
8. Global Smart Electric Meter Market Attractiveness Analysis By Application
9. Global Smart Electric Meter Market Attractiveness Analysis By Technology
10. Global Smart Electric Meter Market Attractiveness Analysis By Phase
11. Global Smart Electric Meter Market Attractiveness Analysis By Region
12. Global Smart Electric Meter Market: Dynamics
13. Global Smart Electric Meter Market Share by Application (2021 & 2028)
14. Global Smart Electric Meter Market Share by Technology (2021 & 2028)
15. Global Smart Electric Meter Market Share by Phase (2021 & 2028)
16. Global Smart Electric Meter Market Share by Regions (2021 & 2028)
17. Global Smart Electric Meter Market Share by Company (2020)
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