The global smart meter market is witnessing an explosive growth on account of supportive global energy conservation initiatives. With rising energy demand, the governments in Europe, Japan, North America, China, South Korea, India are increasingly concerned about energy conservation and better utilization. Therefore, energy conservation would remain the key priority area for these geographies.
The countries in Europe have planned to undergo a massive overhaul, by replacing around 80% of the existing metering infrastructure with smart meters. According to the European Commission, the European Union has planned an investment of around USD 50 billion to achieve the smart meter penetration rate of 80% by 2020.
According to MarkNtel Advisors’ research report “Global Smart Meter Market Analysis, 2020”, the smart meter market is projected to grow at a CAGR of around 7% during 2020-25. The conventional water meter is gradually being replaced by smart water meter due to its real-time monitoring of water consumption patterns, accuracy & savings in billings and of non-revenue water monitoring and control. Moreover, the demand for smart electricity meters is projected to surge in the countries due to the adoption of electric vehicles. According to IEA Global EV Outlook 2019, the global electric car fleet increased 5.1 million in 2018, up 2 million from the previous year. The installation of smart electricity meters would provide better management system of the charging process.
As per MarkNtel Advisors’ study, the advanced metering infrastructure grabbed a significant market share in the Global smart meter market in 2019. The advanced metering infrastructure provides two-way communication between utilities and customers in comparison to the one-way communication in automated meter reading system. Moreover, Asia Pacific region is anticipated to register a significant market share in the forthcoming period on account of the surging demand for smart meters from countries such as China, India, Japan. Under the smart cities initiative, several cities are boosting the deployment of smart meters. In 2019, the Chandigarh Smart City Limited (CSCL) issues a request for proposal (RfP) for the installation of 13,700 smart water meters in Chandigarh.
The major players who has grabbed a considerable market share in the Global smart meter market include Landis+Gyr, Wasion, Itron, Jiangsu Linyang, Holley, Hexing, etc.
"Global Smart Meter Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the market potential, regional opportunities, key factors impacting sales and purchase decision, hotspots and opportunities available for smart meter firms across the globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the competition assessment, formulation of Go to Market Strategies and identifying the blue ocean for their offerings.
1. By Type (Electricity, Gas, Water)
2. By Technology (Automated Meter Reading, Advanced Metering Infrastructure, Standard (non-AMR/AMI) Meters)
3. By End Users (Municipal, Commercial, Residential, Industrial, Transportation)
4. By Geographic Region (North America, South America, Europe, Middle East, Africa, Asia Pacific)
5. By Competitors (Landis+Gyr, Wasion, Itron, Jiangsu Linyang, Holley, Hexing, Others)
Key questions answered in the study:
1. What are the current and future trends of the Global smart meter market?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. What are the future plans and customer expectations of end-users across the globe?
4. How the competition has been shaping across the countries followed by their comparative factorial indexing?
5. What are the key growth drivers and challenges for the Global smart meter market?
6. What are the customer orientation, purchase behavior, and expectations from the smart electricity meter companies across various regions?