Smart Electricity Meter Market Report

Smart Electricity Meter Market Analysis, By End-use (Residential, Commercial, and Industrial), By Region (North America, Europe, Asia Pacific, South America, Middle East and Africa) and segment forecast, 2014 - 2025

Published: July 2017  |  100 Pages  |  Format: PDF  |  Report ID: 978-1-68038-074-3

Industry Insights

The global smart electricity meters market size was estimated at USD 6.59 billion in 2016 The smart energy meters are used to project the lower peak electricity demand, also end-users can easily monitor power consumption on a daily basis and reduce it accordingly.

Energy suppliers are also anticipated to gain advantages through these devices, aligning to their benefits of reduction in reaction time to resolve power outages & hardware faults, and improved customer service delivery due to remote reading conveniences.

U.S. market by end use, 2014 - 2025 (USD Million)

U.S. smart electricity meters market

Various smart meters rollout schemes in different regions, such as U.S, UK, and favourable government initiatives supporting installation of these devices are expected to play a key role in industry growth.

Since energy production using renewable approaches varies with time, low power generation ultimately outcomes in unstable energy productivity. However, using metering devices that are capable of handling intermittent supply help in compensating for this loss by controlling energy consumption of various electronic equipment.

The considerable growth predictions can be accredited to the substantial promotion of green energy and efficient transmission facilities. Integrated presence across value-chain, especially for real-time information sharing regarding usage and tariff rates is perceived to be a competitive advantage. Increasing awareness among consumers about the benefits of these devices is expected to positively influence smart meters market growth over the forecast period.

End Use Insights

Residential applications include suburban/urban apartments and standalone autonomous bungalows. The commercial application segment includes all commercial buildings and aligned infrastructures such as hotels, residential lodges, small to large shopping complexes, and offices.

The industrial segment involves incorporation of these devices in product manufacturing facilities and processing plants. Residential segment dominated the global revenue share accounting for more than 75% due to large number of devices requisites to meet energy demand.

Smart Electricity Meters market, by end use, 2016 (USD Million)

Smart electricity meters market

Electricity meters with high level of robustness and high flexibility are occupational requisite the for commercial domain. Commercial applications generated significant demand of 16 million units in 2016, growing at a CAGR of 5.8% from 2016 to 2025. Growth in this domain is attributed to regulatory administrative framework and surging awareness regarding reducing energy consumption and the aligned expenses.

Regional Insights

North America and Europe smart meter market are expected to witness favorable growth on account of the regulatory conditions and standardized policies. Smart meters are also anticipated to facilitate enhanced grid management, and are principal focus areas for smart grid projects.

Asia Pacific smart meters market is expected to grow at a CAGR of 4.8% from 2016 to 2025. China is gearing towards sustainable energy management with substantial reserves for smart grid implementation in its 13th Five Year Plan (2016 to 2020).

Asia Pacific is followed by Europe, which accounted for over 12% of the revenue share in 2016. Government mandates have been established for the European Union, with rollout plans set by the Commission for Energy Regulation among other legislative bodies. Europe has also been focusing towards reducing electricity usage by energy conservation as a long-term goal.

Competitive Insights

Leading players include ABB Ltd, General Electric Company, Holley Metering Ltd, Elster Group, Iskraemeco, Itron Inc., Landis+Gyr, Schneider Electric and Siemens AG. Itron dominated the overall digital meter’s market share in 2016. Itron provides comprehensive solutions that measure, manage, and analyze energy and water.

Report Scope

Attribute

Details

Base year for estimation

2016

Actual estimates/Historic data

2014 - 2016

Forecast period

2017 - 2025

Market representation

Revenue in USD Million & CAGR from 2017 to 2025

Regional scope

North America, Europe, Asia Pacific, South America, and MEA

Country scope

U.S., Canada, Mexico, UK, Germany, France, Spain, Italy, Netherlands, Japan, China, South Korea, and Brazil

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

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Segments Covered in the Report

This report forecasts revenue growth at global, regional & country levels and provides an analysis on the latest trends and opportunities in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global Smart/Digital Electricity Meters market based on product, application, and region:

  • End Use Outlook (Revenue, USD Million;Volume, Million Units; 2014 - 2025)

    • Residential

    • Commercial

    • Industrial

  • Regional Outlook (Revenue, USD Million;Volume, Million Units; 2014 - 2025)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • UK

      • France

      • Italy

      • Spain

      • Netherlands

    • Asia Pacific

      • China

      • Japan

      • South Korea

    • South America

      • Brazil

    • The Middle East and Africa (MEA)

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