Smart Meters Market report contains detailed information on factors influencing demand, growth, opportunities, challenges, and restraints. It provides detailed information about the structure and prospects for global and regional industries. In addition, the report includes data on research & development, new product launches, product responses from the global and local markets by leading players. The structured analysis offers a graphical representation and a diagrammatic breakdown of the Smart Meters Market by region.
Global Smart Meters Market is valued at approximately USD $$ million in 2021 and is anticipated to grow with a healthy growth rate of more than $% over the forecast period 2023-2030.
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A smart meter is an electronic device that keeps track of data like electric energy use, voltage levels, power factor, and current. These meters help in transmitting data to consumers for a better understanding of their consumption patterns and to power suppliers for system monitoring and customer billing. The increasing need to monitor energy consumption to achieve carbon neutrality, rising investments in smart grid projects, and growth in smart city deployment are the several factors fostering the market demand across the globe. For instance, as per the India Smart Grid Forum, the Government of India proclaimed to allocate around USD 129.9 million under the National Smart Grid Mission (NSGM) for transforming the nation’s power infrastructure by constructing smart grids across smart cities in India, with additional budgetary support of around US$ 44.8 million.
Thereby, rising investments in the smart grid are influencing market growth in the impending years. However, high setup and operational costs for utility suppliers to switch from traditional to smart meters and rising dependency on reliable connections between smart meters and smart grid devices to achieve highly accurate data impede the growth of the market over the forecast period of 2022-2028. Also, integration of artificial intelligence (AI) and machine learning (ML) technologies into smart meters, along with growing adoption of electric and hybrid vehicles by consumers are anticipated to act as catalyzing factors for the market demand during the forecast period.
The key regions considered for the global Smart Meters Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the growing adoption of renewable sources of energy and rising need to monitor energy consumption to achieve carbon neutrality. Whereas, Asia-Pacific is anticipated to exhibit the highest CAGR over the forecast period 2022-2028. Factors such as the increasing smart grid investments, as well as governments mandates for digitization of grid networks, would create lucrative growth prospects for the Smart Meters Market across the Asia-Pacific region.
Major market players included in this report are:
- Schneider Electric
- Landis+Gyr
- Itron
- Siemens
- Wasion Group
- Badger Meter Inc.
- Elster Group GmbH
- Sensus
- Osaki Electric Co.
- Arad Group
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product Types of key players.
The detailed segments and sub-segment of the market are explained below:
By Type:
Electric
Gas
Water
By Component:
Hardware
Software
By Technology:
AMI
AMR
By End-User:
Residential
Commercial
Industrial
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Points Covered in Smart Meters Market Report:
Global Smart Meters Market Research Report
Section 1: Global Smart Meters Market Industry Overview
Section 2: Global Economic Impact on Smart Meters
Section 3: Global Market Competition by Industry Producers
Section 4: Global Productions, Revenue (Value), according to regions
Section 5: Global Supplies (Production), Consumption, Export, Import, geographically
Section 6: Global Productions, Revenue (Value), Price Trend, Product Type
Section 7: Global Market Analysis, on the basis of Application
Section 8: Smart Meters Market Pricing Analysis
Section 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Section 10: Strategies and key policies by Distributors/Suppliers/Traders
Section 11: Key Marketing Strategy Analysis, by Market Vendors
Section 12: Market Effect Factors Analysis
Section 13: Global Smart Meters Market Forecast
……..and view more in complete table of Contents
Thank you for reading; we also provide a chapter-by-chapter report or a report based on region, such as North America, Europe, or Asia.
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