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Commercial Smart Electric Meter Market Size

Report ID: GMI8399
Published Date: Mar 2024
Report Format: PDF

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Commercial Smart Electric Meter Market Size

Commercial Smart Electric Meter Market was valued at USD 5.2 billion in 2023 and is projected to register over 9.6% CAGR from 2024 to 2032. Increasing energy consumption demands greater efficiency and accurate monitoring, which smart meters provide are one of the major drivers for market growth. Regulatory mandates worldwide push for energy conservation and grid modernization, incentivizing the adoption of smart metering technologies.

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The integration of renewable energy sources necessitates real-time monitoring and management, enhancing grid stability. Furthermore, advancements in IoT technology and data analytics empower businesses to optimize energy usage, reduce costs, and enhance operational efficiency, driving market growth.

Commercial Smart Electric Meter Market Report Attributes
Report Attribute	Details
Base Year:	2023
Commercial Smart Electric Meter Market Size in 2023:	USD 5.2 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	9.6%
2032 Value Projection:	USD 12.2 Billion
Historical Data for:	2019 to 2023
No. of Pages:	380
Tables, Charts & Figures:	506
Segments covered:	Application, Technology
Growth Drivers:	Favorable government regulations Renewable energy integration to smart grid infrastructure Effective monitoring & control of energy consumption Limits electricity thefts
Pitfalls & Challenges:	Vulnerability to cyberattacks

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Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of commercial smart electric meter was reached USD 5.2 billion in 2023 and is projected to expand at 9.6% CAGR from 2024 to 2032, driven by increasing energy consumption demands for greater efficiency and accurate monitoring.

Advanced metering infrastructure (AMI) commercial smart electric meter market is anticipated to grow at over 9.5% up to 2032, propelled by widespread adoption for real-time monitoring, remote meter reading, and two-way communication.

Asia Pacific commercial smart electric meter industry is estimated to generate more than USD 9 billion by 2032, attributed to the rising demand for energy efficiency solutions due to rising electricity consumption, and the need for accurate billing and real-time data monitoring.

Some of the top commercial smart electric meter firms are Aclara Technologies LLC, CyanConnode, General Electric Honeywell International Inc., Holley Performance Products, Inc., Iskraemeco Group, Itron Inc. Jabil Inc., Kamstrup, Kontron AG (S&T AG), LARSEN & TOUBRO LIMITED, Landis+Gyr, Mitsubishi Electric Corporation, OSAKI ELECTRIC CO., LTD., SAMI Advanced Electronics, Schneider Electric, Siemens, and Trinity Energy Systems Pvt. Ltd., among others.