Smart Electric Meter Market size to exceed $12 Bn by 2026

Smart Electric Meter Market is expected to surpass USD 12 billion by 2026, as reported in the latest study by Global Market Insights, Inc.
 

Digitalization and large-scale integration of renewable resources are expected to drive the Smart electric meter industry demand. Shifting consumer inclination towards the incorporation of advanced monitoring technologies along with growing measures for minimizing energy theft will also foster the industry outlook. Additionally, introduction of favorable government policies for the adoption of smart grid infrastructure and stringent regulatory norms pertaining to energy conservation will complement the business scenario.

 

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Introduction of regulatory policies for modernization of ageing grid infrastructure and upgradation of electrical systems will boost the smart electric meter market growth trends. Increasing inclination toward the renewable energy mix to fulfil the growing demand has resulted in the adoption smart metering technology. Rising government investments for the development of smart cities and modernization of large-scale industries will enhance the product penetration.
 

Smart Electric Meter Market Application Insights

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Favorable government norms for the replacement of existing metering units will fuel the smart electric meter industry

Commercial sector will gain an appreciable momentum on account of rapid development of sustainable energy technologies and ongoing expansion of existing grid networks. Introduction of roll out plans and directives for the replacement of existing systems with smart electric metering units will augment the industry demand. Robust development of commercial establishments including hospitals, college & universities coupled with introduction of green buildings will enhance the market outlook.
 

Browse key industry insights spread across 550 pages with 1095 market data tables & 30 figures & charts from the report, “Smart Electric Meter Market Size By Application (Residential {Single Family, Multi Family}, Commercial {Education, Healthcare, Retail, Logistics & Transportation, Offices, Hospitality}, Utility), By Technology (AMI {RF, PLC, Cellular}, AMR), By Phase (Single Phase, Three Phase), Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/smart-electric-meter-market
 

Three phase systems will gain impetus on account of increasing industrialization

The smart electric meter market share from three phase systems is predicted to grow at more than 5% growth rate from 2020 to 2026. Growing investments toward the completion of smart city and development of Tier II & Tier III cities will propel the product deployment. Increasing electricity prices coupled with continuously growing consumer interest for billing transparency & accuracy will positively sway the market growth. Effective viability across large manufacturing plants and utility-aided transmission networks will fuel the demand for three-phase systems.
 

Rising infrastructural investments will drive the adoption of AMR technology

AMR technology will witness impetus on account of digitalization of healthcare services and surging investments for modernization of existing establishments. Extensive adoption of digital meters across the residential sector along with increasing infrastructural investments will drive the market demand. Rising installation of smart devices, IoT-enabled solution, and efficient monitoring systems will further stimulate the technological adoption.
 

North America smart electric meter market was valued over USD 700 million in 2019. Increasing electricity prices along with shifting consumer focus towards the accuracy of bills will escalate the industry growth. Stringent government norms coupled with increasing subsides for the deployment of sustainable energy technologies will augment the market landscape.
 

Prominent industry players operating in the market includes Itron Inc., Aclara Technologies LLC, Kamstrup A/S, Siemens, Osaki Electric Co., Ltd., Honeywell Elster, Sensus, Circutor SA, Apator, Iskraemeco Group, Landis+Gyr, Schneider Electric, Larsen & Toubro Limited and General Electric.
 

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