Research Nester released a report titled “Smart Electric Meter: Global Demand Analysis & Opportunity Outlook 2029″ which delivers detailed overview of the global smart electric meter market in terms of market segmentation by communication technology type, end-user, phase, and region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The smart electric meter market is estimated to grow with a moderate CAGR during the forecast period, i.e., 2021-2029, on account of the increasing urban population and rising investments in smart grid technologies and smart cities. In Sept 2017, Tata Power Delhi Distribution Limited (India) announced its plans to roll out 18 lakh smart meters by 2025.
The market is segmented by communication technology type into radio frequency, power line communication, and cellular. Among these segments, the radio frequency is anticipated to hold the largest share by the end of 2021 in the smart electric meter market due to its cheaper setup cost.
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Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The smart electric meter market in the Asia Pacific is projected to grow at the highest CAGR throughout the forecast period. Currently, the market in the Asia Pacific also holds the largest share. This can be attributed to the increasing investments in smart grid technologies and smart cities in the region.
Increasing Investments in Smart Grid Technologies and Smart Cities to Drive Market Growth
In Sept 2017, Tata Power Delhi Distribution Limited (India) announced its plans to roll out 18 lakh smart meters by 2025, whereas South Korea is expected to invest USD 24 billion by 2030.
However, the expensive cost of installment and lack of awareness in low-income economies are some of the factors that are estimated to restrain market growth in the near future.
This report also provides the existing competitive scenario of some of the key players of the global smart electric meter market which includes company profiling of Itron Inc. (ITRI: NASDAQ), Jiangsu Linyang Energy Co., Ltd. (SHA: 601222), Wasion Group (HKG: 3393), Schneider Electric (EPA: SU), Siemens (ETR: SIE), Honeywell International Inc. (NYSE: HON), Iskraemeco Group, GENERAL ELECTRIC (NYSE: GE), and ABB (NYSE: ABB). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global smart electric meter market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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