By 2024, Smart Electric Meter Market is Set to Reach USD 10 Billion

Oct 23, 2019

Smart electric meter market is set to witness robust growth on account of rising infrastructure activities

Selbyville, United States - October 23, 2019 /MarketersMedia/ —

Smart electric meter market share has witnessed exponential growth over the last couple of decades owing to continuing digitalization of grid infrastructure coupled with the increasing deployment of distributed generation systems. Endowed with enhanced connectivity and advanced features, smart meter technology has emerged as a viable option to conventional meters.

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It is estimated that smart electric meter market will exceed US 10 billion by 2024. With energy efficiency becoming a compelling global resource, regional governments have been striving to reinforce regulations associated with GHG emissions, favorable strategies that would certainly influence smart electric meter industry trends.

Residential smart electric meter market is predicted to surpass USD 4 billion by 2024. Introduction of government directives and roll-out plans will positively impact the business landscape. Flourishing investments across the real estate industry along with shifting focus toward the development of smart homes will stimulate the product penetration over the coming years.

Smart electric meter market is set to witness robust growth on account of rising infrastructure activities. Easy availability, affordable maintenance and low installation cost have necessitated the extensive adoption of AMR systems. AMR technology collects energy consumption data and diagnoses the information from meter devices and transmits that data to a central database for billing, analysing, and troubleshooting.

Integration of sustainable energy network favoured by government initiatives including FIT’s and incentive schemes to sustain their adoption primarily across residential & commercial establishments will further stimulate smart electric meter market growth. Three-phase smart meters owing to their effective viability across utility-aided transmission networks and large-capacity industrial establishments, possess the majority revenue share.

UK smart electric meter market is predicted to witness strong growth on account shifting trends toward digital economy and information society. Introduction of government roll-out targets and initiatives will augment the industry landscape. In 2015, Government of UK introduced a roll-out target of replacing 50 million smart meters across 30 million households by 2020 with an aim to reduce household energy consumption by 5 to 15%.

Browse key industry insights spread across 511 pages with 1044 market data tables & 10 figures & charts from the report, “Smart Electric Meter Market” in detail along with the table of contents @ https://www.gminsights.com/industry-analysis/smart-electric-meter-market

Notable smart electric meter industry participants include Landis+Gyr, Itron, Siemens, Schneider, Honeywell International, Osaki, Badger Meter, Neptune Technologies, Aclara, Sensus, Kamstrup, Circutor, Iskraemeco and Apator.

Some Points From Table Of Content: -
Chapter 5 Smart Electric Meter Market, By Technology
5.1 Smart electric meter industry share by technology, 2017 & 2024
5.2 AMI
5.2.1 Global market from AMI, 2013 - 2024
5.2.2 Global market from AMI, by region, 2013 - 2024
5.2.3 RF
5.2.3.1 Global market from RF, 2013 - 2024
5.2.3.2 Global market from RF, by region, 2013 - 2024
5.2.4 PLC
5.2.4.1 Global market from PLC, 2013 - 2024
5.2.4.2 Global market from PLC, by region, 2013 - 2024
5.2.5 Cellular
5.2.5.1 Global market from cellular, 2013 - 2024
5.2.5.2 Global market from cellular, by region, 2013 - 2024
5.3 AMR
5.3.1 Global market from AMR, 2013 - 2024
5.3.2 Global market from AMR, by region, 2013 - 2024

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/smart-electric-meter-market

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Website: https://www.gminsights.com/pressrelease/smart-electric-meter-market

Source URL: https://marketersmedia.com/by-2024-smart-electric-meter-market-is-set-to-reach-usd-10-billion/88930317

Source: MarketersMedia

Release ID: 88930317

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