“Smart Electricity Meter Market Report 2019-2023” helps the consumer to take business decisions and to understand strategies of major players in the industry. The report also calls for market-determined results deriving feasibility survey for consumer needs. Global Smart Electricity Meter Market Report ensures qualified and verifiable aspects of market data operating in the real-time scenario. The analytical studies are conducted ensuring consumer needs with a complete understanding of market capacities in the real-time scenario.
Top-Listed Players in Smart Electricity Meter Market Research Report 2019-2023:
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Smart Electricity Meter market reports provide a comprehensive overview of the worldwide market size and share. Smart Electricity Meter market data reports also provide a 5-year historical, forecast for the sector, and include data on social-economic data of global. Key stakeholders can consider statistics, tables & figures mentioned in this report for strategic planning which lead to the success of the organization.
Overview of Smart Electricity Meter Market Report:
The smart electricity meter market was valued at 93.09 million unit shipments in 2017, and is expected to reach 83.61 million unit shipments by 2023, at a CAGR of (0.64)% over the forecast period (2018 – 2023). The report discusses the end users that use these products. The regions considered under the scope of the report include North America, Europe, and various others. The study also emphasizes on how supportive government regulations in key regions are affecting the market.
Smart metering solutions comprise of meters or modules, with communication capabilities (either one-way or two-way) embedded within the meter or attached to it. Smart electricity meters are expected to witnesses a declining demand throughout the forecast period, primarily due to decline in volume sale contribution from China, which is the largest market for these systems. Conventional electric grids are highly inefficient. Energy transmission over long distances is highly expensive and inefficient. It is estimated that over 7% of the energy is lost during the transmission of electricity in the United States. Deployment of smart metering systems enables energy suppliers to continuously monitor electricity usage at multiple points in the grid. Therefore, smart meters help collect data and enable the management of electricity distribution, necessary to improve the efficiency of the systems.
Rise in Deployment in Smart Cities to Drive the Market
Smart metering systems are employed with two-way communication and control capabilities, which enable the central systems to analyze the data and take necessary actions to provide improved efficiency and handle systems efficiently in times of faults and failures. Smart grids play a crucial role in smart city deployment and are the primary consumers of smart electricity meters. In addition, governments around the world are allocating budgets to turn existing cities smart and also to establish new smart city projects, in order to improve the overall economy. European countries are leading in this segment, with many establishments, while countries in Asia-Pacific are exploring this technology for mass deployment. This is expected to increase the demand for smart electricity meters.
The Residential Segment to have the Highest Market Share
Increasing residential construction activities and government mandates like EU 20-20-20 policy, which aims to convert 80% of the installed meter base to smart ones, is expected to drive the smart electricity meter market. The residential applications of smart meters include standalone autonomous houses and suburban/urban apartments. Growth in this domain can be attributed to regulatory, administrative framework and surging awareness concerning reduction of energy consumption and aligned expenses. However, budgetary constraints of industries and lengthy period for realizing the benefits of smart meters have been the deterrents for the adoption of smart meters for residential applications in the developing countries.
Asia-Pacific to have the Highest Share
China is leading the market at the moment, with the rollout at its peak, due to strict mandates by the government. South China and State Grid, the only two grid companies in the country, drive the process. But the gradual end of the rollout is resulting in a significant reduction of demand year-by-year. In other countries, such as India, the study projects a substantial growth in the demand for smart electricity meters, with expected need of more than 2 million units yearly post-2020. However, in the absence of a national mandate by the government, the incorporation of smart metering is expected to be slow and patchy, thereby inhibiting the full functionality of smart grid systems. Further, the region is expected to enjoy the highest market share over the forecast period, owing to the vast population base in these two countries.
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Valuable Points from Smart Electricity Meter Market Research Report 2019-2023:
- A complete background analysis, which includes a valuation of the parental Smart Electricity Meter Market.
- Significant changes in Market dynamics.
- Smart Electricity Meter Market segmentation according to Top Regions.
- Current, Historical, and projected size of the Smart Electricity Meter Market from the viewpoint of both value and volume.
- Reporting and assessment of recent industry developments.
- Smart Electricity Meter Market shares and strategies of key Manufacturers.
- Emerging Specific segments and regional for Smart Electricity Meter Market.
- An objective valuation of the trajectory of the Market.
- Recommendations to Top Companies for reinforcement their foothold in the Market.
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Highlights of the following key factors:
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- Company history –Progression of key events associated with the company.
- Major products and services –A list of major products, services, and brands of the company.
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- Important locations and subsidiaries –A list and contact details of key locations and subsidiaries of the company.
- Detailed financial ratios for the past five years –The latest financial ratios derived from the annual financial statements published by the company with 5 years history.
Top Most Regions Covered In Smart Electricity Meter Market Research Report 2019-2023:
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