Smart Electricity Meter Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET OVERVIEW

Smart electricity meters are swapping traditional electricity meters. Smart electricity meters simplify the inline communication of electricity suppliers with consumers electricity meters eradicating the manual involvement in meter readings. Smart Electricity meters offers consumers with precise real-time data of their energy consumption at the same time rendering a greater control over electricity consumption. The smart electricity meters also help the customer in selecting tariff plans made to fit their energy consumption.

MARKET SCOPE

The "Global Smart Electricity Meter Market Analysis to 2031" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the smart electricity meter market with detailed market segmentation by phase, communication, end-users, and geography. The report provides key statistics on the market status of the leading smart electricity meter market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

•   Based on phase, the global smart electricity meter market is segmented into single and three.
  
•   On the basis of communication, the market is segmented into Power Line Communication (PLC), Radio Frequency (RF), and cellular.
  
•   On the basis of end-users, the market is segmented into industrial, commercial, and residential.
  

MARKET DYNAMICS
Drivers:

•   Growing electricity demand from the residential and commercial sectors and rapid industrialization across developing economies are some of the major factors driving the growth of the smart electric meter market.
  
•   The capability to offer flexible energy tariffs, high billing accuracy, and wireless communication are some of the key features that will boost the demand of the market.
  

Restraints:

•   The higher cost of installation is the major factor that may restrain the growth of the smart electric meter market.
  

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The smart electricity meter market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the smart electricity meter market in these regions.

IMPACT OF COVID-19 ON SMART ELECTRICITY METER MARKET

COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.

Smart Electricity Meter Market Report Analysis

Smart Electricity Meter Market

• 
  CAGR (2023 - 2031)

  XX%
• Market Size 2023
  US$ XX Million
• Market Size 2031
  US$ XX Million

Report Coverage

• Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope

• Key future trends
• Detailed PEST/Porter’s Five Forces and SWOT analysis

• Industry landscape and competition analysis & recent developments
• Detailed company profiles

• Global and regional market analysis covering key market trends, major players, regulations, and recent market developments

Key Players

• Aclara Technologies LLC.
• Genus Power Infrastructures Ltd.
• Holley Technology UK Ltd.
• Iskraemeco d.d.
• Jiangsu Linyang Energy Co., Ltd.
• Microchip Technology Inc.
• Networked Energy Services
• Schneider Electric
• Siemens

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

By Phase

• Single
• Three

By Communication

• Power Line Communication
• Radio Frequency
• Cellular

By End-Users

• Industrial
• Commercial
• Residential

MARKET PLAYERS

The report covers key developments in the smart electricity meter market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from smart electricity meter market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the smart electricity meter market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•   Aclara Technologies LLC.
  
•   Genus Power Infrastructures Ltd.
  
•   Holley Technology UK Ltd.
  
•   Iskraemeco d.d.
  
•   Jiangsu Linyang Energy Co., Ltd.
  
•   Microchip Technology Inc.
  
•   Networked Energy Services
  
•   Schneider Electric
  
•   Siemens
  
•   wasion group
  
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Smart Electricity Meter Market Report Scope