The smart electricity meters enable increased energy efficiency and optimum utilization of renewable resources. The smart electricity meter efficiently tracks the inflow and outflow of electricity in the system. It accounts for the surplus and unconsumed energy generated from solar and wind power that gets fed back to the grid, enabling customers to gain an advantage of feed-in tariffs. Hence, the deployment of smart electricity meters strongly contributes to the development of renewable energy in various countries.
According to MarkNtel Advisors’ research report titled “Global Smart Electricity Meter Market Analysis, 2020”, the Smart Electricity Meter market is projected to register a CAGR of around 9% during 2020-25. The demand for advanced metering infrastructure is anticipated to boost in the forthcoming period as it delivers advanced services such as real-time electricity utilization, measure voltage, connect and disconnect services, etc.
Moreover, the commercial and residential sectors acquired a considerable market share in the Global Smart Electricity market in 2019. The inclination of residential consumers toward the peak time energy savings is positively impacting the demand for smart electricity meters. Moreover, the surging residential and commercial construction activities in countries such as Saudi Arabia, China, Canada, etc., are projected to positively impact the growth of the Global Smart Electricity market.
According to MarkNtel Advisors, the key players capturing a considerable market share in the Global smart electricity market include Landis+Gyr, Itron, Wasion, Hexing, Elster, Sagemcom, etc. The companies are signing agreements to gain a competitive edge in the industry. Moreover, the companies are increasingly acquiring contracts to deliver smart metering services to the customers.
Key Questions Answered in the Market Research Report
1. What are the key overall market statistics or market estimates (Market Overview, Market Size- By Value, Forecast Numbers, Market Segmentation, Market Shares) of Global Smart Electricity Meter Market?
2. What are the region wise industry size, growth drivers and challenges key market trends?
3. What are the key innovations, technology upgrades, opportunities, regulations in the Global Smart Electricity Meter Market?
4. Who are the key competitors or market players and how they perform in Global Smart Electricity Meter Market on the basis of competitive benchmarking matrix?
5. What are the key results derived from the market surveys conducted during the course of Global Smart Electricity Meter Market study?