The smart meters come with a handy in-home display called as IHD, through this you can see how much energy you are consuming and the cost of the same. These meters also provide automatic meter readings and can automatically send you the usage report. The smart meters are somewhat similar to the traditional meters at our homes, that measures and records the energy consumption. Whenever there is power cut, the smart meter immediately informs the utility and then it quickly dispatches the crews to resolve situation and within some time your power will comeback.
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The smart meters can automatically transfer all the information about your energy usage, including meter readings. These meters are great for reducing your electricity bills, by understanding what all electric appliances are in use. They display your energy using not just kilowatt hours, but also shows readings in pounds and pence. The meters are very helpful for the consumers to understand how they are using their energy. They give you a detailed bill of the energy consumption used regularly to you and you can receive the accurate bill. The smart meters improve the grid efficiency, by understanding the flows of the electricity through the grid and through the distributions of the networks.
According to the research report published by Bonafide Research titled as “Global Smart Meter Market Outlook, 2027”, states that the global smart meter’s market is supposed to reach to USD 27.3 Billion by the forecasted year. As per recent studies the market is growing by 8.4% annually over 2020.
By the forecasted year 2027, the market will be driven by the advancements in the metering technologies, the rising awareness within people regarding energy conservation and the surging government initiatives. However, this will impact on the sales volume and it will register more than 6.2% CAGR by the end of the forecasted year.
In-depth qualitative analyses include identification and investigation of the following aspects:
• Market Structure
• Growth Drivers
• Restraints and Challenges
• Emerging Product Trends & Market Opportunities
• Porter’s Fiver Forces
The trend and outlook of global market is forecast in optimistic, balanced, and conservative view by taking into account of COVID-19. The balanced (most likely) projection is used to quantify global smart meters market in every aspect of the classification from perspectives of Component, Technology, Communication Type, Phase, Specification, Application, End Use, and Region.
Based on Component, the global market is segmented into the following sub-markets with annual revenue for 2017-2027 included in each section.
• Software & Service
Based on Technology, the global market is segmented into the following sub-markets with annual revenue for 2017-2027 included in each section.
• Automatic Meter Reading (AMR)
• Advanced Metering Infrastructure (AMI)
Based on Communication Type, the global market is segmented into the following sub-markets with annual revenue for 2017-2027 included in each section.
• Cellular Technology
• Radio Frequency (RF)
• Power Line Communication (PLC)
• Other Communication Types
Based on Phase, the global market is segmented into the following sub-markets with annual revenue for 2017-2027 included in each section.
• Single-phase Smart Meters
• Three-phase Smart Meters
Based on Specification, the global market is segmented into the following sub-markets with annual revenue for 2017-2027 included in each section.
• SMETS1 Smart Meters
• SMETS2 Smart Meters
Based on Application, the global market is segmented into the following sub-markets with annual revenue for 2017-2027 included in each section.
• Smart Electricity Meters
• Smart Gas Meters
• Smart Water Meters
Based on End Use, the global market is segmented into the following sub-markets with annual revenue for 2017-2027 included in each section.
• Residential Use
• Commercial Use
• Industrial Use
Geographically, the following regions together with the listed national/local markets are fully investigated:
• APAC (Japan, China, South Korea, Australia, India, and Rest of APAC; Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, Taiwan, and Philippines)
• Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Netherlands, Switzerland, Poland, Sweden, Belgium, Austria, Ireland, Norway, Denmark, and Finland)
• North America (U.S., Canada, and Mexico)
• South America (Brazil, Chile, Argentina, Rest of South America)
• MEA (UAE, Saudi Arabia, South Africa)
For each aforementioned region and country, detailed analysis and data for annual revenue are available for 2017-2027. The breakdown of all regional markets by country and split of key national markets by Component, Application, and End Use over the forecast years are also included.
The report also covers current competitive scenario and the predicted trend; and profiles key vendors including market leaders and important emerging players.
Key Players (this may not be a complete list and extra companies can be added upon request):
Badger Meter, Inc
Diehl Stiftung GmbH & Co. KG
Elster Group GmbH
Holley Technology Ltd
Honeywell International Inc.
Landis+Gyr Group AG
Schneider Electric SA
Sensus USA Inc.
Wasion Group Holdings
Table Of Content:
1. Executive Summary
2. Report Methodology
3. Market Structure
3.1. Market Considerate
3.2. Market Definition
4. Economic /Demographic Snapshot
5. Global Smart Meters Market Outlook
5.1. Market Size By Value
5.2. Market Share
5.2.4.By End Use
5.2.7.By Communication Type
5.2.10. By Specificication
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