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Residential Smart Electric Meter Market Size

Report ID: GMI8330
Published Date: Feb 2024
Report Format: PDF

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Residential Smart Electric Meter Market Size

Residential Smart Electric Meter Market was valued at USD 8.1 billion in 2023 and is projected to grow at over 9.3% CAGR between 2024 and 2032. Stringent regulatory mandates promoting the integration of AMI to enhance grid management and consumer insights are propelling market growth. For instance, in 2023, the UK government declared its objective for 80% of households and 73% of small businesses across England, Scotland, and Wales to possess a smart meter by the conclusion of 2025.

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Additionally, the increasing awareness and initiatives towards energy conservation and efficiency are compelling homeowners to adopt smart metering solutions further complementing the industry outlook.

Residential Smart Electric Meter Market Report Attributes
Report Attribute	Details
Base Year:	2023
Residential Smart Electric Meter Market Size in 2023:	USD 8.1 Billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	9.3%
2032 Value Projection:	USD 18.6 Billion
Historical Data for:	2018 - 2023
No. of Pages:	315
Tables, Charts & Figures:	462
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 towards cyber security threats

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Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of ophthalmic eye dropper reached USD 13.3 billion in 2023 and is set to witness 6.3% CAGR between 2024 and 2032, led by the rising prevalence of various eye disorders globally.

Preserved multi-dose ophthalmic eye dropper segment generated USD 6.4 billion in revenue in 2023, owing to growing preference as they have a longer shelf life compared to preservative-free single-dose units.

North America market size was USD 5.4 billion in 2023, due to the presence of a large aging population susceptible to age-related eye conditions.

Some of the leading firms engaged in the market are AbbVie Inc., Alcon plc, AptarGroup, Inc., Bausch & Lomb Incorporated, Novartis AG, PanOptica, Inc., Pfizer Inc, Sager Pharma Kft, Silgan Dispensing Systems LLC, and Similasan Corp.