Smart Meters Market 2019 Size, Growth, Share, Merger, Trends, Investments, Competitive Analysis, Regional, And Global Industry Forecast To 2023
Jun 10, 2019
Smart Meters Market 2019 Global Industry Analysis To 2023, is latest report on Global Smart Meters Industry, published by Market Research Future. Global Smart Meters market to rise at a CAGR of 9.55% by 2023.
Pune, India - June 10, 2019 /MarketersMedia/ —
Smart Meters Market 2019 Global Industry Analysis To 2023, is latest report on Global Smart Meters Industry, published by Market Research Future. Global Smart Meters Market Information by Type (Electric Meters, Gas Meters and Water Meters), By Technology (Automatic Meter Reading (AMR) and Advanced Metering Infrastructure (AMI)), By Application (Residential, Commercial and Industrial), By Region – Forecast to 2023.
Major automotive braking system manufacturers covered in the market report include Schneider Electric (France), Siemens AG. (Germany), Landis+Gyr (Switzerland), Xylem, Inc. (U.S.), Aclara Technologies LLC (U.S.), and Badger Meter, Inc. (U.S.). Honeywell International Inc. (U.S.), Itron Inc. (U.S.), EDMI (Singapore), Apator Group (Poland), DIEHL Metering (Germany), Zenner (Germany), and Kamstrup A/S (Denmark)
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Global Market Highlights:
Global Smart Meters market has seen remarkable growth; expected to rise at a CAGR of 9.55%. Smart meters have increased in popularity lately due to the need for high accuracy in meter readings while simultaneously achieving savings due to real time results. The real-time results in smart meters are enabled due to a secure national communication network (called the DCC) wirelessly and automatically sends the actual energy usage data to your provider. As the billing of energy output for gas and electricity is significantly reliant on meters, the demand for smart meters has grown gradually in the past few years due to the efficiency offered by them.
Increasing energy needs and the demand for cost-efficient energy has led to the increased demand and deployment of smart meters. Valued at USD 15,728.6 Mn in 2016, the global smart meter market is expected to increase in value to reach an estimation of USD 29,583.1 Mn by the end of 2023.
During the past few years, several smart grid projects have been launched which are raising the integration of the smart meters in the sector. The deployment of smart grid solutions to make distribution grids more flexible and able to handle the variable renewable energy sources and new loads is also powering the growth of the smart meters market significantly. Growing investments in the infrastructure of gas distribution have also identified as an instrumental factor in increasing the demand for smart gas meters.
Segmentation:
The segment-wise analysis of the market is carried out based on type, technology, and application.
By type, the segment comprises of electric meters, gas meters and water meters. Electric meters lead the type segment of the smart meter market. They are the most extensively used smart meter type. It accounted for the market share of 55.6 percent in 2016. The segment is expected to grow at 9.56 percent CAGR during the forecast period.
The technology-based segmentation of the market comprises of advanced metering infrastructure (AMI) and automatic meter reading (AMR). AMI is projected to be the most rapidly rising technology of the market. AMI is expected to grow at a fast CAGR of 9.77 percent during the forecast period.
The application-based segmentation of the market comprises of residential, commercial and industrial. The residential segment is the top rising segment in the global smart meter market owing to the growing population and urbanization. The segment is likely to develop at 9.81 percent CAGR during the forecast period.
Regional Outlook:
The Asia Pacific region is a major market for smart meter globally. Increasing smart cities projects in countries like Thailand, India, China, and others which are driving the growth of the market significantly. As the demand for energy in the region is high due to the rising population level and enhancement in the lifestyle in the region. This has led to an upsurge in investment in T&D, which will raise the demand levels in the market. The Asia Pacific region is likely to develop at the highest CAGR of 9.91 percent through the forecast period. China is the world’s major market for the power transmission & distribution and is also the key consumer of smart grid technology. China’s pledge towards green development will create a tremendous requirement for smart grid technologies.
The North American region is another key market for smart meters. Government policy mandates and fiscal incentives have been the key drivers for the demand for smart meters. Also, the region is the hub for critical manufacturers, who are a positive influence on the development of the market. Hence, the North American smart meter market is anticipated to develop at a CAGR of 9.46 percent throughout the forecast period. The U.S. is one of the primary markets for smart meters. More than 30 electric companies in the United States have fully deployed smart meters.
The Asia Pacific region is another main market for smart meter globally. Growing smart cities projects in countries like China, India, Thailand, and others which is driving the growth of the market. Also, the demand for energy in the region is high due to the escalating population level and enhancement in the lifestyle in the region. This has led to an upsurge in investment in T&D, which will raise the demand of the market. The Asia Pacific region is estimated to develop at an increased CAGR of 9.91 percent through the forecast period.
Table Of Contents
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Definition
2.2.2 Research Objective
2.2.3 Assumptions
2.2.4 Limitations
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Threat Of Substitutes
3.1.4 Segment Rivalry
3.1.5 Bargaining Power Of Buyers
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.1 Introduction
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
Continued…
List of Tables:
TABLE 1 MARKETSSS SYNOPSIS 14
TABLE 2 GLOBAL SMART METERS MARKET, BY TYPE, 2015-2023 (USD MILLION) 32
TABLE 3 GLOBAL SMART METERS MARKET, BY TECHNOLOGY, 2015-2023 (USD MILLION) 36
TABLE 4 GLOBAL SMART METERS MARKET, BY APPLICATION, 2015-2023 (USD MILLION) 39
TABLE 5 GLOBAL SMART METERS MARKET, BY REGION, 2015-2023 (USD MILLION) 43
TABLE 6 NORTH AMERICA: SMART METERS MARKET, BY COUNTRY, 2015-2023 (USD MILLION) 44
TABLE 7 NORTH AMERICA: SMART METERS MARKET, BY TYPE, 2015-2023 (USD MILLION) 45
Continued…
List Of Figures:
FIGURE 1 RESEARCH PROCESS OF MRFR 17
FIGURE 2 TOP DOWN & BOTTOM UP APPROACH 19
FIGURE 3 DRIVERS & RESTRAINTS IMPACT ANALYSIS OF GLOBAL SMART METERS MARKET 21
FIGURE 4 NUMBER OF SMART METERS INSTALLED IN GREAT BRITAIN (Q1 2013-Q4 2016) 23
Continued…
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