The Smart
Electricity Meter Market was worth USD 8.89 billion in the year 2012
and is expected to reach approximately USD 23.53 billion by 2022, while
registering itself at a compound annual growth rate (CAGR) of 10.22% during the
forecast period. In 2016 the worldwide smart electricity meters market size was
evaluated at USD 6.59 billion. The smart energy meters are utilized to extend
the reduce demand of peak electricity, likewise end-users can conveniently
monitor the consumption of power daily and decrease it in like manner. Energy
providers are additionally expected to pick up benefits through these gadgets,
adjusting to their advantages of decrease in response time to determine power
cuts and equipment faults, and enhanced client benefit conveyance because of
remote perusing accommodations. Different smart meters rollout plots in various
districts, for example, United Kingdom, United States, and positive government
activities supporting establishment of these gadgets are anticipated to play a
key part in industry development. Since production of energy utilizing
sustainable methodologies shifts with time, low generation of power results in
temperamental vitality profitability. Nonetheless, utilizing metering gadgets
that are equipped for dealing with irregular supply help in making up for this
loss by controlling energy utilization of different electronic gear. The
extensive development anticipations can be authorizing to the considerable
advancement of efficient and green energy transmission facilities. Integrated
existence crosswise over esteem chain, particularly for ongoing data sharing
with respect to utilization and levy rates is seen to be an upper hand.
Expanding consciousness among buyers about the advantages of these gadgets is
anticipated to positively impact smart meters market development over the
conjecture time frame.
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Regional Outlook and Trend Analysis
Europe
and North America smart meter market are anticipated to witness ideal
development by virtue of the administrative conditions and institutionalized
strategies. Smart meters are additionally foreseen to encourage improved matrix
administration, and are key concentration zones for smart grid projects. Asia
Pacific smart meters market is anticipated to develop at a significant pace in
the upcoming years. China is outfitting towards economic management of energy
with significant reserves for smart grid execution in its thirteenth Five Year
Plan. Asia Pacific is trailed by Europe, which represented more than 12 percent
of the income share in 2016. Government orders have been built up for the
European Union, with rollout plans set by the Commission for Energy Regulation
among other administrative bodies. Europe has additionally been centering
towards diminishing power utilization by vitality preservation as a long-term
objective.
Competitive Insights
The
leading players in the market are Elster Group, Schneider Electric, Iskraemeco,
ABB Group, Siemens, Landis+Gyr, Holley Metering Ltd, Itron and General
Electric. In 2016 the overall digital meter’s market share was dominated by
Itron. The company provides effective solutions that analyze measure and manage
water and energy.
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Table of Contents
1. Introduction
1.1. Report Description
1.2. Research Methodology
1.2.1. Secondary Research
1.2.2. Primary Research
2. Executive Summary
2.1. Key Highlights
3. Market Overview
3.1. Introduction
3.1.1. Market Definition
3.1.2. Market Segmentation
3.2. Market Dynamics
3.2.1. Drivers
3.2.1.1. Increased Government Initiatives to Install
Smart Electricity Meters
3.2.1.2. Increasing Need for Energy Security Globally
3.2.1.3. Rising Need for Energy Efficiency &
Conservation
3.2.2. Restraints
3.2.2.1. Electricity Theft Concern
3.2.3. Opportunities
3.2.3.1. Emerging Markets to Offer Lucrative Growth
Opportunities
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About Crystal Market Research
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