Dublin, Sept. 16, 2024 (GLOBE NEWSWIRE) — The “Smart Electricity Meters – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
The global market for Smart Electricity Meters is estimated at US$15.2 Billion in 2023 and is projected to reach US$25.3 Billion by 2030, growing at a CAGR of 7.6% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The growth in the smart electricity meters market is driven by several factors, including regulatory mandates, technological advancements, and increasing consumer awareness. Governments worldwide are implementing policies to promote the adoption of smart meters as part of broader initiatives to modernize electrical grids and improve energy efficiency. In the United States, various state-level programs and federal incentives encourage the widespread adoption of smart metering technology.
Advancements particularly in the Internet of Things (IoT) and communication technologies, have made smart meters more reliable, secure, and cost-effective, prompting utilities to invest in smart metering infrastructure. Additionally, rising consumer awareness about energy conservation and the benefits of real-time energy usage data has driven demand for smart meters.
Consumers are increasingly looking for ways to manage their energy consumption more efficiently to reduce costs and minimize their environmental impact. These factors collectively underscore the dynamic growth of the smart electricity meters market, highlighting its crucial role in the transition towards smarter, more sustainable energy systems.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Automatic Meter Reading (AMR) Technology segment, which is expected to reach US$10.9 Billion by 2030 with a CAGR of a 4.4%. The Advanced Metering Infrastructure (AMI) Technology segment is also set to grow at 10.8% CAGR over the analysis period.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Siemens AG, Schneider Electric SE, Itron, Inc., and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Questions Answered:
- How is the Global Smart Electricity Meters Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 342 |
| Forecast Period | 2023 – 2030 |
| Estimated Market Value (USD) in 2023 | $15.2 Billion |
| Forecasted Market Value (USD) by 2030 | $25.3 Billion |
| Compound Annual Growth Rate | 7.6% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- Smart Meters: Laying the Foundation of Energy Efficiency and Reliable Utility Networks
- An Introduction to Smart Electricity Meters
- Smart Electricity Meters: Reliable, User-Friendly, Cost Effective, and Energy Efficient Technology
- AMI Technology Poised to Grow at a High Rate
- Residential Sector Dominates Smart Electricity Meters Market
- Asian Economies Spearhead Growth
- Key Challenges Confronting the Smart Electricity Meters Market
- Competition
- Recent Market Activity
- Smart Electricity Meters – Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Environmental Concerns, Reduction in Energy Wastage, and Need for Energy Efficiency Drive Adoption of Smart Metering Technology
- Myriad Benefits of Smart Electricity Meters to Drive Global Adoption
- Benefits of Smart Electricity Meters to Utilities
- Benefits to Customers
- Digitization Trend in Utilities Spurs Adoption of Smart Meters
- Spiraling Demand for Electricity and Inefficient Infrastructure Drives Power Utilities to Deploy Smart Meters
- China and India Lead the Global Rise in Demand for Electricity
- Growing Deployments of Smart Grids: A Strong Business Case for Smart Electricity Meters
- Renewable Energy Integration: A Promising Application of Smart Electricity Meters
- Rising Prominence of Internet of Things (IoT) in Utilities to Benefit Penetration
- Rise of Smart Cities and Focus on Smart Energy Management Opens Up Opportunities for Smart Electricity Meters
- At the Core of Smart Cities Are Smart Metering Solutions for Provision of Smart Utility Services
- Smart Electricity Meters Emerge as Vital Components for Efficient Energy Use & Consumption Control in Smart Cities
- Increasing Investments in Smart Home Technology Solutions to Fuel Demand for Smart Meters
- Growing Investments into Smart Homes Stimulate Smart Meters Market
- Integration of Electric Vehicles and Smart Meters Enable Shift towards Sustainable Economy
- Rising Prominence of Smart Electricity Meters in Advanced Outage Management
- Smart Electricity Meters Gain Prominence in Distribution Automation
- Government Policies Critical for Smart Electricity Meters Adoption
- Cloud Computing Transforms Smart Metering Market
- Big Data Analytics to Provide Actionable Insights from Smart Meters-Generated Data
- AI Presents Immense Opportunities to Tap Smart Meter Data
- Blockchain to Mitigate Data Safety and Privacy Concerns for Smart Meters
- Increasing Integration of Cellular Technology in Smart Electricity Meters
- Population Growth and Demographics Drive Need for Smart Utility Infrastructure, Supporting Demand for Smart Meters
- Key Issues & Challenges Hampering Widespread Adoption of Smart Meters
FOCUS ON SELECT PLAYERS (Total 16 Featured)
- Siemens AG
- Schneider Electric SE
- Itron, Inc.
- Trilliant Holdings, Inc.
- Advanced Electronics Company
- Iskraemeco d.d.
- KP Electronic System Ltd.
- Korea Electric Power Corporation (KEPCO)
- ZOHO Corporation – WebNMS
For more information about this report visit https://www.researchandmarkets.com/r/d6t66z
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
- Global Smart Electricity Meters Market
