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Smart Electricity Meters Market Size, Share & Research Report 2022 to 2030

The global smart electricity meters market size is expected to be worth around US$ 25.9 billion by 2030, according to a new report by Vision Research Reports.

The global smart electricity meters market size was valued at US$ 11.8 billion in 2020 and is anticipated to grow at a CAGR of 8.8% during forecast period 2021 to 2030.

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Report Coverage

Report Scope Details
Market Size US$ 25.9 billion by 2030
Growth Rate CAGR of 8.8% From 2021 to 2030
Base Year 2021
Forecast Period 2021 to 2030
Segments Covered Phase, End-use
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Companies Mentioned ABB; GENERAL ELECTRIC; Holley Technology LTD.; Elster Group GmbH; Iskraemeco d.d.; Itron Inc.; Landis+Gyr; Schneider Electric, Inc.; and Siemens

Growth Factors

 The rising demand for energy security has been prevailing in the energy sector for a long time. Renewable energy generation has sufficed this demand to a certain extent. Still, the energy provided by such systems is intermittent, and thus energy conservation and efficient utilization of power are the key aspects of energy security. Smart meters deliver instantaneous data regarding power consumption that can be analyzed and the consumption can be controlled, stabilizing the energy demands.

Intelligent electric meters offer analysis and energy forecasting capabilities, which are absent in conventional metering systems. This remote information storage and transference capabilities of such metering systems are anticipated to eradicate future tampering and theft of electricity employing meters. The considerable growth predictions can be accredited to the substantial promotion of green energy and efficient transmission facilities.

By Phase Analysis

On the basis of phase, the market is segmented into single-phase and three-phase. The three-phase sub-segment is expected to grow at a faster rate than single-phase. This growth is attributed to its increasing implementation in industrial and commercial applications.

The growing number of industries and commercial buildings is expected to drive the installation of three-phase electric meters. Further, the benefit of flexibility provided by the three-phase electric meters is paving the way for these meters in residential applications.

By End-use Analysis

The end-use segment comprises of residential, commercial, and industrial sub-segments. The residential end-use segment includes suburban/urban apartments and standalone bungalows.

The commercial end-use segment is anticipated to demonstrate healthy growth over the forecast period. Growth in this domain is attributed to the regulatory, administrative framework, and surging awareness regarding reducing energy consumption and aligned expenses.

By Regional Analysis

Asia Pacific region has the maximum deployment of smart electricity metering systems on account of the regulatory conditions and standardized policies. Further, Asia Pacific smart meters market is also expected to demonstrate substantial growth and is expected to expand at a revenue-based CAGR of 10.1% from 2020 to 2030.

Key Players

ABB; GENERAL ELECTRIC; Holley Technology LTD.; Elster Group GmbH; Iskraemeco d.d.; Itron Inc.; Landis+Gyr; Schneider Electric, Inc.; and Siemens.

Market Segmentation

  • By Phase
    • Single-phase
    • Three-phase
  • By End-use
    • Residential
    • Commercial
    • Industrial
  • Regional
    • North America
      • U.S.
      • Canada
      • Mexico
    • Europe
      • Germany
      • U.K.
      • France
      • Italy
      • Spain
      • Netherlands
    • Asia Pacific
      • China
      • Japan
      • South Korea
    • South America
      • Brazil
    • Middle East and Africa (MEA)

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Reasons to Purchase this Report:

– Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
– Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
– Market value USD Million and volume Units Million data for each segment and sub-segment
– Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
– Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

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