Smart Electric Meter Market Size to cross $10bn by 2024

Smart Electric Meter Market size is slated to cross USD 10 Billion by 2024, as reported in the latest study by Global Market Insights, Inc.
 

Ongoing digitalization of grid infrastructure along with the growing deployment of distributed generation systems will stimulate the smart electric meter market growth. In addition, high reliability, cost effectiveness, better accuracy on bills and real time information are some of the prominent factors favoring the product installation. In addition, favorable government directives and fiscal incentives toward the adoption of cost-effective energy conservation technologies will further enhance the industry outlook.

 

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Europe smart electric meter market is projected to surpass USD 2 Billion by 2024. Growing focus toward development of electric infrastructure along with stringent government regulation to minimize the carbon footprints will complement the business landscape. In addition, shifting trends toward digital economy along with construction of smart homes will boost the industry growth.
 


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Ability to transfer the energy consumption data along with the relatively lower cost across residential and commercial establishments will stimulate the adoption for AMR technology. On time billing, easy access to remote areas and immediate fault detection are some of the eminent features which will boost the product deployment. In addition, rising concern toward effective energy conservation coupled with rapid digitalization activities being done by leading industry players will propel the industry growth.
 

Browse key industry insights spread across 511 pages with 1044 market data tables & 10 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 (U.S., Canada, Germany, UK, France, Russia, Italy, Sweden, Denmark, Austria, Spain, China, India, Japan, Australia, South Korea, Saudi Arabia, UAE, Oman, Kuwait, Iran, Lebanon, Egypt, South Africa, Nigeria, Brazil, Mexico, Uruguay, Argentina, Chile), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2024 in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/smart-electric-meter-market
 

Commercial smart electric meter market will witness growth of over 4% by 2024. Increasing focus toward replacement of conventional meters along with the implementation of government measures and standards toward energy efficiency will foster the business growth. In addition, rapid industrialization across the emerging economies along with growing urban population on account of improvement in standard of living and increasing per capita consumption will complement the industry outlook.
 

Asia-Pacific smart electric meter market size will witness robust growth owing to continuous soaring infrastructural development along with increasing penetration of smart and IoT enabled technologies. Ongoing efforts to enhance the operational efficiencies of digital technologies including theft protection, reliability, and minimum cost will further boost the industry growth.  The Government of India in 2019, has announced the installation of 50 million smart electric meters by 2020.
 

Residential applications will witness robust growth owing to rising consumer spending to achieve the energy optimization along with upsurge in electricity consumption across the developing nations. Increasing investments across the construction sector coupled with shifting focus toward the development of smart homes will complement the smart electric meter market landscape. In addition, rising government funding to meet the growing energy demand coupled with replacement of conventional meters to manage the electricity consumption efficiently will further propel the product demand.
 

Major industry players operating in the global smart electric meter market includes Sensus, Kamstrup, Circutor, Neptune Technologies, Iskraemeco, Apato, Schneider, Osaki, Badger Meter, Landis+Gyr, Itron, Honeywell International, Siemens, amongst others.
 

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The smart electric meter market research report includes in-depth coverage of the industry with estimates & forecast in terms of Units and USD from 2013 to 2024, for the following segments:

By Application

  • Residential
    • Single family
    • Multi family
  • Commercial
    • Education
    • Healthcare
    • Retail
    • Logistics & transportation
    • Offices
    • Hospitality
    • Others
  • Utility

By Technology

  • AMI
    • RF
    • PLC
    • Cellular
  • AMR

By Phase

  • Single Phase
  • Three Phase

The above information is provided on regional & country basis for the following:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Italy
    • Sweden
    • Denmark
    • Austria
    • Spain
  • Asia Pacific
    • Japan
    • China
    • South Korea
    • India
    • Australia
  • Middle East & Africa
    • UAE
    • Saudi Arabia
    • Oman
    • Kuwait
    • Iran
    • Lebanon
    • Egypt
    • South Africa
    • Nigeria
  • Latin America
    • Mexico
    • Brazil
    • Uruguay
    • Argentina
    • Chile

 

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