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Smart Meter Market

Smart Meter Market provides profiles of leading players in the market based on the following parameters company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies.
Smart Meter Market Enhancement and Growth
Rate Analysis 2026
Smart Meter Market study provides key insights about market drivers,
restraints, opportunities, new product launches or approval, regional
outlook, and competitive strategies adopted by the leading players.
Smart meter is a device used for recording use of electrical, gas, and water energy. Smart meter
interfaces with supplier to communicate the information for monitoring and billing. Smart
meters commonly record energy hourly or more often, and report at least daily. It features
display screen, which displays consumption of energy in real-time and provide estimated bills.
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Factors Driving Growth of the Global Smart Meter Market
Growing demand for accurate billing and increasing efforts towards energy conservation is
expected to fuel growth of the global smart meter market. Smart meter digitally sends readings
to the energy supplier for more accurate energy bills. It allows the consumer to take control on
energy use, so that consumers can save energy for other purposes such as in industries and
medical equipment. Smart meter helps the environment by reducing the need to build power
plants or avoiding the use of older, less efficient power plants as consumers lower their electric
demand. The benefits of having smart meter is when suppliers have a better understanding of
usage patterns, more innovations can be made to the types of tariffs energy supplier offers.
Favorable government policies along with fiscal incentives are key factors driving growth of the
smart meter market. According to Smart Energy GB, the government has set the target that by
the end of 2020, around 53 million smart meters will be fitted in over 30 million premises across
wales, Scotland, and England. Installation of smart meter is already underway. More than 11
million smart meters have now been installed. This is the biggest national infrastructure project
that will enable a more energy efficient system for Great Britain. By 2020, every household in
Great Britain will be able to use smart meter technology to see how much energy is consumed.
Factors Restraining Growth of the Global Smart Meter Market
Concerns over security and privacy of the data as smart meters are also being used as a
surveillance device hampers their adoption. Operational cost of the industry is expected to be
affected by the full metering programme. These meters require regular maintenance, and
replacement, which is expected to lower their adoption among price-sensitive users.
Regional Analysis of Smart Meter Market
On the basis of geography, the global smart meter market is segmented into North America,
Europe, Latin America, Asia Pacific, the Middle East, and Africa.
North America contributed the largest share in the smart meter market due to huge market
demand in the U.S. According to U.S. Energy Information Administration (EIA), in 2016, the U.S.
electric utilities had around 70.8 million Advanced Metering Infrastructure (AMI) installations
and around 80% of the AMI installations were residential. The country is majorly focused on
upgrading and replacing outdated infrastructure of smart meter, enabling grid reliability, and
installing smart power networks.
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Asia Pacific is expected to witness significant growth in the smart meter market due to
supportive government initiatives toward the implementation of smart meters. According to
the Energy Information Administration (EIA), China exceeded the US in federal smart grid
subsidies for the first time in 2010, with over US$ 7.3 billion invested compared to US$ 7.1 billion
in the U.S. Growing residential sector with increasing number of water connection is in turn
driving growth of smart meters market. According India Smart Utility Week 2019, Government
of India plans to implement 14 smart Grid pilot projects by 2019.
Key players in the Global Smart Meter Market
Some of the key players operating in the smart meter market include Schneider Electric,
Siemens AG, Honeywell International, Inc., Itron Inc., Sensus , Elster Group GmbH , Landis+Gyr ,
Badger Meter, Inc., EDMI Limited, and Sentec.
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