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Global Smart Electric Meter Market: By Type: Advanced Metering Infrastructure (AMI), Automatic Meter Reading (AMR); By Phase; By Communication Type; By Technology Type; By End Use; Regional Analysis; Historical Market and Forecast (2016-2026); Market Dynamics; Competitive Landscape; Industry Events and Developments
Global Smart Electric Meter Market Outlook
The global smart electric meter industry reached a value of USD 10.8 billion in 2020. The industry is further expected to grow at a CAGR of 8% in the forecast period of 2021-2026 to reach a value of USD 17.2 billion by 2026.
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Asia Pacific to Lead the Smart Electric Meter Market
Europe and Asia Pacific collectively held a significant share of the smart electric meter market share. The Asia Pacific is the largest and the fastest-growing region. China accounts for about nearly half of the global market. This is the main reason for the Asia Pacific to be the largest market. India is a vast economy with electric consumption on the rise. There is also various government initiative that the Indian government will undertake. India’s robust economy and untapped market and multiple advantages of the smart electric meter will cause it to grow at a high rate. India’s growth will be the primary reason for the Asia Pacific to be the fastest-growing region.
Shifting focus toward the adoption of energy efficient technologies coupled with increasing investments toward replacement of conventional systems with IoT based metering technology will augment the regional industry growth. Moreover, ongoing government incentives and subsidies toward the integration of smart systems across the grid infrastructure will fuel the product demand. Europe market will witness an upsurge during the forecast period due to rising regulatory inclination toward the adoption of policies and standards to effectively address energy theft and power outages.
Smart Electric Meter: Industry Definition and Segments
A smart electric meter is an electronic device that records the consumption of electrical energy and communicates the information to the electricity supplier for monitoring and billing on monthly or daily basis depending on requirement. The preciseness in terms of reading and eliminating manual involvement to note readings and produce electricity is the major advantage of smart electric meter.
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Smart electric meter can be divided on the basis of type into the following:
- Automatic Metering Infrastructure (AMI)
- Automatic Meter Reading (AMR)
The industry can be classified on the basis of phase into:
- Single Phase
- Three Phase
On the basis of communication type, the industry can be divided into:
- Power Line Communication
- Radio Frequency
- Cellular
On the basis of technology type, the market can be segmented into:
- Power Line Communication
- Radio Frequency
The industry finds its end uses in the following:
- Residential
- Commercial
- Industrial
The regional markets for smart electric market can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Smart Grid Industry to Boost the Global Smart Electric Meter Industry
The essential driver increasing growth in the global smart electric market is growing in the smart grid market. To provide secure and efficient energy management on a regional level, utility providers are progressively focusing on the extensive deployment of smart grid systems. Growing focus on energy-efficient products and services, rising initiatives to solve energy need problems by smart electric meters by various governments, losses like fraud, costs, and theft involved in the manual collection are minimized with the use of the smart electric meter.
The smart electricity meter is an essential element of the smart grid system, which can offer bi-directional communication with data collection points, thus the smart grid market will directly affect the smart electric meter market. Increasing power consumption across residential establishments including apartments and multistorey buildings along with expanding commercial sector will drive the segment growth. Rapid expansion of distributed generation technology coupled with the advancement of microgrid networks will further spur the market growth trends.
Key Industry Players in the Global Smart Electric Meter Market
The report gives a detailed analysis of the following key players in the global smart electric meter market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Landis+Gyr AG
- Xylem Inc
- Elster Group (Honeywell International Inc)
- Itron Inc.
- Siemens AG
- Aclara Technologies LLC
- Microchip Technology Inc.
- Wasion Group
- Schneider Electric
- Others
The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2020 |
| Historical Period | 2016-2020 |
| Forecast Period | 2021-2026 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Type, Phase, Communication Type, Technology Type, End Use, Region |
| Breakup by Type | Advanced Metering Infrastructure (AMI), Automatic Meter Reading (AMR) |
| Breakup by Phase | Single Phase, Three Phase |
| Breakup by Communication Type | Power Line Communication, Radio Frequency, Cellular |
| Breakup by Technology Type | Power Line Communication, Radio Frequency |
| Breakup by End Use | Residential, Commercial, Industrial |
| Breakup by Region | North America, Latin America, Europe, Middle East and Africa, Asia Pacific |
| Market Dynamics | SWOT, Porter's Five Forces, EMR’s Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Landis+Gyr AG, Xylem Inc, Elster Group (Honeywell International Inc), Itron Inc., Siemens AG, Aclara Technologies LLC, Microchip Technology Inc., Wasion Group, Schneider Electric, Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Smart Electric Meter Market Analysis
8.1 Key Industry Highlights
8.2 Global Smart Electric Meter Historical Market (2016-2020)
8.3 Global Smart Electric Meter Market Forecast (2021-2026)
8.4 Global Smart Electric Meter Market by Type
8.4.1 Advanced Metering Infrastructure (AMI)
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2016-2020)
8.4.1.3 Forecast Trend (2021-2026)
8.4.2 Automatic Meter Reading (AMR)
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2016-2020)
8.4.2.3 Forecast Trend (2021-2026)
8.5 Global Smart Electric Meter Market by Phase
8.5.1 Single Phase
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2016-2020)
8.5.1.3 Forecast Trend (2021-2026)
8.5.2 Three Phase
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2016-2020)
8.5.2.3 Forecast Trend (2021-2026)
8.6 Global Smart Electric Meter Market by Communication Type
8.6.1 Power Line Communication
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2016-2020)
8.6.1.3 Forecast Trend (2021-2026)
8.6.2 Radio Frequency
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2016-2020)
8.6.2.3 Forecast Trend (2021-2026)
8.6.3 Cellular
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2016-2020)
8.6.3.3 Forecast Trend (2021-2026)
8.7 Global Smart Electric Meter Market by Technology Type
8.7.1 Power Line Communication
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2016-2020)
8.7.1.3 Forecast Trend (2021-2026)
8.7.2 Radio Frequency
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2016-2020)
8.7.2.3 Forecast Trend (2021-2026)
8.8 Global Smart Electric Meter Market by End Use
8.8.1 Residential
8.8.1.1 Market Share
8.8.1.2 Historical Trend (2016-2020)
8.8.1.3 Forecast Trend (2021-2026)
8.8.2 Commercial
8.8.2.1 Market Share
8.8.2.2 Historical Trend (2016-2020)
8.8.2.3 Forecast Trend (2021-2026)
8.8.3 Industrial
8.8.3.1 Market Share
8.8.3.2 Historical Trend (2016-2020)
8.8.3.3 Forecast Trend (2021-2026)
8.9 Global Smart Electric Meter Market by Region
8.9.1 Market Share
8.9.1.1 North America
8.9.1.2 Europe
8.9.1.3 Asia Pacific
8.9.1.4 Latin America
8.9.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2016-2020)
9.1.2 Forecast Trend (2021-2026)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2016-2020)
9.2.2 Forecast Trend (2021-2026)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2016-2020)
9.3.2 Forecast Trend (2021-2026)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2016-2020)
9.4.2 Forecast Trend (2021-2026)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2016-2020)
9.5.2 Forecast Trend (2021-2026)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 EMR’s Key Indicators for Demand
10.4 EMR’s Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 Landis+Gyr AG
12.2.1.1 Company Overview
12.2.1.2 Product Portfolio
12.2.1.3 Demographic Reach and Achievements
12.2.1.4 Certifications
12.2.2 Xylem Inc
12.2.2.1 Company Overview
12.2.2.2 Product Portfolio
12.2.2.3 Demographic Reach and Achievements
12.2.2.4 Certifications
12.2.3 Elster Group (Honeywell International Inc)
12.2.3.1 Company Overview
12.2.3.2 Product Portfolio
12.2.3.3 Demographic Reach and Achievements
12.2.3.4 Certifications
12.2.4 Itron Inc.
12.2.4.1 Company Overview
12.2.4.2 Product Portfolio
12.2.4.3 Demographic Reach and Achievements
12.2.4.4 Certifications
12.2.5 Siemens AG
12.2.5.1 Company Overview
12.2.5.2 Product Portfolio
12.2.5.3 Demographic Reach and Achievements
12.2.5.4 Certifications
12.2.6 Aclara Technologies LLC
12.2.6.1 Company Overview
12.2.6.2 Product Portfolio
12.2.6.3 Demographic Reach and Achievements
12.2.6.4 Certifications
12.2.7 Microchip Technology Inc.
12.2.7.1 Company Overview
12.2.7.2 Product Portfolio
12.2.7.3 Demographic Reach and Achievements
12.2.7.4 Certifications
12.2.8 Wasion Group
12.2.8.1 Company Overview
12.2.8.2 Product Portfolio
12.2.8.3 Demographic Reach and Achievements
12.2.8.4 Certifications
12.2.9 Schneider Electric
12.2.9.1 Company Overview
12.2.9.2 Product Portfolio
12.2.9.3 Demographic Reach and Achievements
12.2.9.4 Certifications
12.2.10 Others
13 Industry Events and Developments
List of Figures and Tables
1. Global Smart Electric Meter Market: Key Industry Highlights, 2016 and 2026
2. Global Smart Electric Meter Historical Market: Breakup by Type (USD Billion), 2016-2020
3. Global Smart Electric Meter Market Forecast: Breakup by Type (USD Billion), 2021-2026
4. Global Smart Electric Meter Historical Market: Breakup by Phase (USD Billion), 2016-2020
5. Global Smart Electric Meter Market Forecast: Breakup by Phase (USD Billion), 2021-2026
6. Global Smart Electric Meter Historical Market: Breakup by Communication Type (USD Billion), 2016-2020
7. Global Smart Electric Meter Market Forecast: Breakup by Communication Type (USD Billion), 2021-2026
8. Global Smart Electric Meter Historical Market: Breakup by End Use (USD Billion), 2016-2020
9. Global Smart Electric Meter Market Forecast: Breakup by End Use (USD Billion), 2021-2026
10. Global Smart Electric Meter Historical Market: Breakup by Region (USD Billion), 2016-2020
11. Global Smart Electric Meter Market Forecast: Breakup by Region (USD Billion), 2021-2026
12. North America Smart Electric Meter Historical Market: Breakup by Country (USD Billion), 2016-2020
13. North America Smart Electric Meter Market Forecast: Breakup by Country (USD Billion), 2021-2026
14. Europe Smart Electric Meter Historical Market: Breakup by Country (USD Billion), 2016-2020
15. Europe Smart Electric Meter Market Forecast: Breakup by Country (USD Billion), 2021-2026
16. Asia Pacific Smart Electric Meter Historical Market: Breakup by Country (USD Billion), 2016-2020
17. Asia Pacific Smart Electric Meter Market Forecast: Breakup by Country (USD Billion), 2021-2026
18. Latin America Smart Electric Meter Historical Market: Breakup by Country (USD Billion), 2016-2020
19. Latin America Smart Electric Meter Market Forecast: Breakup by Country (USD Billion), 2021-2026
20. Middle East and Africa Smart Electric Meter Historical Market: Breakup by Country (USD Billion), 2016-2020
21. Middle East and Africa Smart Electric Meter Market Forecast: Breakup by Country (USD Billion), 2021-2026
22. Global Smart Electric Meter Market Structure
Key Questions Answered in the Report
In 2020, the global smart electric meter market attained a value of nearly USD 10.8 billion.
The market is projected to grow at a CAGR of 8% between 2021 and 2026.
The market is estimated to witness a healthy growth in the forecast period of 2021-2026 to reach USD 17.2 billion by 2026.
The key industry drivers are growing in the smart grid market and increasing power consumption across residential establishments including apartments and multistorey buildings along with expanding commercial sector.
The key industry trends driving the market are growing focus on energy-efficient products and services, rising initiatives to solve energy need problems by smart electric meters by various governments.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific, with Asia Pacific accounting for the largest share in the market.
The dominant type of smart electric meter in the industry are automatic metering infrastructure (AMI) and automatic meter reading (AMR).
The phases of the product can be divided into single phase and three phases.
In terms of communication type, the industry segments are power line communication, radio frequency, and cellular.
The technologies can be divided into power line communication and radio frequency.
The leading end use sectors of smart electric meter are residential, commercial, and industrial.
The major players in the industry are Landis+Gyr AG, Xylem Inc, Elster Group (Honeywell International Inc), Itron Inc., Siemens AG, Aclara Technologies LLC, Microchip Technology Inc., Wasion Group, and Schneider Electric, among others.
Analyst Review
The global smart electric meter market attained a value of USD 10.8 billion in 2020, driven by the growing in the smart grid market and increasing power consumption across residential establishments including apartments and multistorey buildings along with expanding commercial sector. Aided by the growing focus on energy-efficient products and services, rising initiatives to solve energy need problems by smart electric meters by various governments. The market is expected to witness growth at a CAGR of 8% to reach USD 17.2 billion by 2026.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. The phases of the product can be divided into single phase and three phases. Based on its types, the smart electric meter industry can be segmented into automatic metering infrastructure (AMI) and automatic meter reading (AMR). In terms of communication type, the industry segments are power line communication, radio frequency and cellular. The technologies can be divided into power line communication and radio frequency. The leading end use sectors of smart electric meter are residential, commercial, and industrial. The major regional markets for smart electric meter are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Landis+Gyr AG, Xylem Inc, Elster Group (Honeywell International Inc), Itron Inc., Siemens AG, Aclara Technologies LLC, Microchip Technology Inc., Wasion Group, and Schneider Electric, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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