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Smart Metering Systems Market Size, By Application (Residential, Commercial, Utility), By Product (Water, Electricity, Gas), By Technology (AMR, AMI), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, Italy, France, UK, Sweden, Italy, Portugal, China, Japan, South Korea, India, Australia, UAE, Saudi Arabia, South Africa, Lebanon, Egypt, Mexico, Brazil, Uruguay, Argentina), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024

Published Date: March 2017 | 205 Pages | Report ID: GMI1180 Report Format: PDF

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Summary Table of Contents Industry Coverage Methodology

Industry Trends

Smart Metering Systems Market size for 2015 was valued over USD 16 billion and is set to exceed 750 million units by 2024.

U.S. Smart Metering Systems Market size, By Product 2013-2024 (USD Million)
U.S. Smart Metering Systems Market size, By Product 2013-2024 (USD Million)

Increasing need for transparency and accountability in resource allocation and usage will drive the global smart metering systems market size from 2016 to 2024. Scarcity of resources including water, electricity and gas will positively impact the industry outlook. For instance, in the U.S., 9 states have been declared as drought affected by the National Integrated Drought Information Systems (NIDIS).

Stringent regulations to effectively monitor per capita usage of resources provided by the government to identify and curb possible wastage will stimulate the smart metering systems market share. As Per the EU Directive 2009/72/EC, member states are required to conduct a cost benefit analysis of feasibility of a large scale roll out of automated systems and adoption was mandatory for regions which had positive results, positively influence the business landscape.

In 2009, American Recovery and Reinvestment Act (ARRA) paved the way for setting up funds which will provide financial assistance with an aim to boost the adoption of smart meters in the U.S. In 2012, the Électricité de France (EDF) announced a plan to install 3 million systems by the end of 2016 and eventually scale up to 30 million by end of 2020 at an estimated investment of USD 15 billion.

Smart Metering Systems Market, By Application

Smart metering systems market size for 2015 from residential applications was valued over USD 5 billion. Consumers are increasingly aware of the billing process and are demanding accurate usage data from service providers. Commercial applications are set to exceed USD 14 billion by 2024, owing to increasing adoption among establishments to reduce cost.

Utility applications in terms of volume are predicted to surpass 200 million units by 2024. Increasing adoption among utilities will assist the governments to keep a close track on their consumption patterns, further augmenting the industrydemand.

Smart Metering Systems Market, By Product

Smart metering systems market from smart electric meters for 2015 was valued over USD 4 billion and is anticipated to witness significant gain owing to its high penetration and low price. Installation of water meters are anticipated to exceed 250 million units by 2024 owing to growing emphasis on non-revenue water. Water is scarce in most parts of the world, leading to an increase in its prices, compelling consumers to conserve water and reduce unnecessary expenses.

Smart metering market share from smart gas meters are predicted to witness growth over 10% by 2024 owing to low penetration subject to high prices of products with longer technology.

Smart Metering Systems Market, By Technology

Smart metering systems market from Automatic Meter Reading (AMR) is set to witness growth over 6% by 2024. North American has had high penetration of installed AMR systems since the early 1990s, making the retrofitting and replacement business a sector with huge potential.

Automatic Meter Infrastructure (AMI) are predicted to exceed 130 million units by 2024, subject to high prices of the product. Purchase and installation cost of AMI systems is nearly four times that of an AMR, which may act as a restraint to its adoption.

Smart Metering Systems Market, By Region

U.S. smart metering systems market size for 2015 was valued over USD 5 billion and is expected to witness significant growth owing to high adoption of smart systems. In 2015, the U.S. Energy Information Administration (EIA) stated to have installed more than 65 million electric meters.

For Europe, UK smart metering systems market size is set to surpass over 19 million units by 2024. The Government of UK was one of the first to pass a regulation making adoption of smart systems mandatory, in a bid to provide accurate billing mechanism to consumers. Sweden and Italy are mature markets with 100% rollouts achieved by 2010.

China smart metering systems industry share is predicted to grow over 12% during the forecast timeline. In 2015, State Grid Corporation of China has announced that it would roll out the installation of 300 million systems and an additional 380 million by 2020. UAE market share is set to grow over 9% by 2024. Increasing necessity towards reduction of emission and effective monitoring to curb Non-Revenue Water (NRW) will positively influence the business outlook.

Competitive Market Share

Global industry participants include Itron, Siemens AG, Landis+GYR, Schneider Electric, Circutor, Icsa, Iskraemeco, Holley Metering, Honeywell International, Osaki Electric, Badger Meter, Elster, Neptune Technology, Sensus Sentec.

In 2015, Neptune Technology collaborated with Itron, Sensus and Elster to deliver compatibility with the industry’s leading e-coder. In 2016, EDMI, a subsidiary of Osaki Electric signed a contract with Great Britain to provide 500,000 smart meters to become one of the largest energy supplier.


Smart Metering Systems Industry Background

Smart meters are at the forefront of global energy conservation and waste reduction initiative, as a growing number of world bodies and governments are endorsing it adoption to curb indiscriminate and unaccounted use of scarce natural resources like water, gas and electricity. Increasing growth in global smart metering systems market demand can be attributed to strict regulations introduced worldwide coupled with consumer demands for more accurate tracking and billing of their usage. The average shelf life ranges between 10 to 15 years and needs to be replaced afterwards, positively impacting the retrofitting business.


What Information does this report contain?

What was the historic market data from 2013 to 2015, what is the industry growth forecast from 2016 to 2024?
A detailed analysis of regulatory trends, growth drivers, industry pitfalls, challenges and opportunities for participants
Which are the leading market products, applications & regions and how will they perform by 2024?
What are the technology & innovation trends, how will they evolve by 2024?
Which companies lead the industry, how are they positioned in the market in terms of sustainability, competency, production capacity and strategic outlook?

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