Tuesday, March 21, 2023

Smart Meters Market Size 2022, Share, Growth & Forecast Till 2027

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Market Overview 2022-2027

IMARC Group has recently released a new research study “Smart Meters Market : Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.

What are the growth prospects of the Smart Meters Industry?

The global smart meters market size reached US$ 20.71 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 35.61 Billion by 2027, exhibiting a growth rate (CAGR) of 9.10% during 2022-2027.

Impact of COVID-19:

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Request For Sample Report: https://www.imarcgroup.com/smart-meters-market/requestsample

What is a Smart Meters Market?

Smart meters represent electronic devices that accurately record and measure power consumption data. They usually consist of a power system, microcontroller, communications interface, etc. Smart meters automatically and wirelessly send actual energy usage to the supplier via power line communication, radiofrequency (RF) electromagnetic radiation, and cellular communication. In line with this, they precisely monitor village fluctuations, outage detection, gas, electricity, and water utilization, etc.

Smart meters aid in reducing meter reading costs, removing inefficiencies in billing, preventing disconnection, minimizing emissions, etc. As compared to traditional meters, they are multifunctional, cost-effective, and interactive, assist in recording electricity use on a daily basis, enable two-way communication with the utility and the home or business, etc. Consequently, smart meters find extensive applications in various sectors, including residential, commercial, and industrial.

What are the major market drivers in the Smart Meters Market?

The inflating need for energy is primarily driving the smart meters market. Additionally, the widespread adoption of these devices in smart cities for the detection of leakage in supply, detection of theft, continuous monitoring of gas, water flow, and electricity, etc., is further catalyzing the market growth. Besides this, the development of smart electricity meters for automatic meter reading and bill generation, owing to the growing consumer concerns towards power generation and distribution, is acting as another significant growth-inducing factor.

Moreover, the launch of several favorable policies by government bodies across countries to replace existing traditional electric meters is also positively influencing the global market.

Apart from this, the introduction of the Internet of Things (IoT) and the escalating demand for advanced components and control systems to protect data, enhance security, maximize uptime during emergencies, etc., are anticipated to fuel the smart meters market over the forecasted period.

Smart Meters Market Report Scope
Report CoverageDetails
Market size value in 2021US$ 20.71 Billion
Market forecast in 2027 US$ 35.61 Billion
Growth RateCAGR of 9.10% from 2022 to 2027
Base year for estimation2021
Historical data2016-2021
Forecast period2022-2027
Report coverageRevenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, And Trends
Segments coveredProduct, Technology and End Use.
Regional scopeAsia Pacific, Europe, North America, Latin America, Middle East and Africa
Key companies profiledAichi Tokei Denki Co. Ltd., Apator SA, Arad Group, Badger Meter Inc., Diehl Stiftung & Co. KG, Holley Technology Ltd., Itron Inc., Landis+Gyr, Neptune Technology Group Inc. (Roper Technologies Inc.), Schneider Electric SE, Sensus USA Inc. (Xylem Inc.), Shenzhen Kaifa Technology Co. Ltd. and Zenner International GmbH & Co. KG.
Market DynamicsParent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,
Customization purviewIf our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Click here to view detailed information with table of content: https://www.imarcgroup.com/smart-meters-market

Report Segmentation:

The report has been segmented the market into following categories:

Breakup by Product:

  • Smart Electricity Meter
    • Smart Water Meter
    • Smart Gas Meter

Breakup by Technology:

  • AMI (Advanced Metering Infrastructure)
    • AMR (Automatic Meter Reading)

Market Breakup by End Use:

  • Residential
    • Commercial
    • Industrial

By Geography:

  • North America (United States, Canada)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Others)
  • Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

List of Major Key Players:

The major players in the market are

Aichi Tokei Denki Co. Ltd.

 Apator SA, Arad Group

Badger Meter Inc.

Diehl Stiftung & Co. KG

 Holley Technology Ltd.

 Itron Inc.

 Landis+Gyr, Neptune Technology Group Inc.

(Roper Technologies Inc.)

 Schneider Electric SE,

Sensus USA Inc. (Xylem Inc.)

Shenzhen Kaifa Technology Co. Ltd.

and Zenner International GmbH & Co. KG.

Key highlights of the report:

Market Performance (2016-2021)

Market Outlook (2022- 2027)

Porter’s Five Forces Analysis

Market Drivers and Success Factors

SWOT Analysis

Value Chain

Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us:
IMARC Services Private Limited.
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Sheridan, WY 82801 USA – Wyoming
Email: Sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
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