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Europe Smart Electric Meter Market Size
- Report ID: GMI6843
- Published Date: Oct 2023
- Report Format: PDF
Europe Smart Electric Meter Market Size
Europe Smart Electric Meter Market size was valued at USD 3.5 billion in 2023 and is set to grow at a 4.7% CAGR between 2024 and 2032. The region's strong commitment to sustainability and reducing carbon emissions has spurred extensive investments in smart grid infrastructure, with smart electric meters being a crucial component. European governments and utilities are actively upgrading their energy networks to accommodate renewable energy sources and enhance grid efficiency, fostering the adoption of smart meters.
Furthermore, the European Union's ambitious energy efficiency goals, along with regulatory mandates for the deployment of smart meters to monitor and manage electricity consumption more effectively, are propelling Europe smart electric meter market growth. The desire for accurate and real-time data on electricity consumption among consumers, enabling better energy management and cost savings, is another significant driver. In addition to these factors, the increasing awareness of the environmental impact of energy consumption and the need for more sustainable energy practices are encouraging both residential and commercial users to embrace smart electric meters, further boosting market expansion across Europe.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Europe Smart Electric Meter Market Size in 2023: | USD 3.5 Billion |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 4.7% |
| 2032 Value Projection: | USD 5.4 Billion |
| Historical Data for: | 2019 to 2023 |
| No. of Pages: | 480 |
| Tables, Charts & Figures: | 629 |
| Segments covered: | Application, Technology, Phase and Region |
| Growth Drivers: |
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Europe Smart Electric Meter Market Scope
