Smart Meters Market 2019 Global Analysis, Size, Growth, Merger, Share, Competitive Landscape, Trends, Statistics, Regional And Industry Forecast To 2023
Jul 15, 2019
Smart Meters Market to reach $29,583.1 Million By 2023. Increasing energy needs and the demand for cost-efficient energy to Boost Global Smart Meters Market, according to “Smart Meters Industry 2019 Global Market Forecast to 2023 Report” published by Market Research Future.
Pune, India - July 15, 2019 /MarketersMedia/ —
Smart Meters Market by Type (Electric Meters, Gas Meters and Water Meters), Technology (Automatic Meter Reading (AMR) and Advanced Metering Infrastructure (AMI)), Application (Residential, Commercial and Industrial), Region with Global Industry forecast to 2023.
Smart Meters Key Players Analyzed in Report:
Siemens AG. (Germany), Landis+Gyr (Switzerland), Schneider Electric (France), Aclara Technologies LLC (U.S.), Zenner (Germany), Xylem, Inc. (U.S.), Honeywell International Inc. (U.S.). Itron Inc. (U.S.), EDMI (Singapore), Apator Group (Poland), Badger Meter, Inc. (U.S.), DIEHL Metering (Germany), and Kamstrup A/S (Denmark) among others.
Get Free Sample “Global Smart Meters Market Report 2019” At: https://www.marketresearchfuture.com/sample_request/4569
Market Highlights:
The global smart meter market is anticipated to grow at a healthy CAGR of 9.55% during the forecast period of 2017 to 2023. Increasing energy needs and the demand for cost-efficient energy has led to the increased demand and deployment of smart meters. Valued at USD 15,728.6 Mn in 2016, the global smart meter market is expected to increase in value to reach an estimation of USD 29,583.1 Mn by the end of 2023.
Smart meters have increased in popularity lately due to the need for high accuracy in meter readings while simultaneously achieving savings due to real time results. The real-time results in smart meters are enabled due to a secure national communication network (called the DCC) wirelessly and automatically sends the actual energy usage data to your provider. As the billing of energy output for gas and electricity is significantly reliant on meters, the demand for smart meters has grown gradually in the past few years due to the efficiency offered by them.
The demand for electricity is growing continually alongside ongoing industrialization and urbanization. Generation and distribution of energy have changed over the years, and with technological advancements, the emergence of smart meters has made a significant impact on the distribution and consumption of energy. Utilities across the world are working toward efficient, reliable and secure methods of management of energy. As such, smart grid projects have grown considerably in number and are attracting growing investments across the globe.
Smart Meters Industry Segmentation:
The segment-wise analysis of the market is carried out based on type, technology, and application.
By type, the segment comprises of electric meters, gas meters and water meters. Electric meters lead the type segment of the smart meter market. They are the most extensively used smart meter type. It accounted for the market share of 55.6 percent in 2016. The segment is expected to grow at 9.56 percent CAGR during the forecast period.
The technology-based segmentation of the market comprises of advanced metering infrastructure (AMI) and automatic meter reading (AMR). AMI is projected to be the most rapidly rising technology of the market. AMI is expected to grow at a fast CAGR of 9.77 percent during the forecast period.
The application-based segmentation of the market comprises of residential, commercial and industrial. The residential segment is the top rising segment in the global smart meter market owing to the growing population and urbanization. The segment is likely to develop at 9.81 percent CAGR during the forecast period.
Regional Analysis:
The Asia-Pacific represents the most significant regional market in the global smart meter market and is expected to display the highest CAGR of 9.91% during the forecast period. The increasing deployment of smart city projects in emerging economies such as India, China, Thailand and others has significantly contributed to the regions market position. The presence of a truly vast population which has been recorded as more than 50% of the global population has a huge demand and consumption pattern with regards to electricity and other utilities.
The scope of opportunity available in this regional market is expected to assist the region in maintaining its market-leading position. China leads market growth and is recognized and the world’s largest market for power transmission & distribution as well as a major consumer of smart grid technology which is anticipated to experience a CAGR of 10.14% during the review period. According to IEA World Energy Investment Outlook, China is set to invest around USD 83 billion on their transmission & distribution network.
The growth of the market vendors is dependent on market conditions, government support, and industry development. Players focus on strengthening their presence worldwide through partnership & collaboration followed by mergers & acquisitions during the forecast period. These strategies are widely adopted to increase their presence and the customer base. The competitive environment in the market is likely to intensify further due to the increase in new product developments and business expansions. Companies continue to emphasize on the adoption of new growth strategies to gain a greater foothold in the market on a global level.Top of FormBottom of Form
Table of Contents:
1 Executive Summary
2 Market Introduction
2.1 Market Definition
2.2 Scope Of The Study
2.3 Market Structure
3 Research Methodology
3.1 Primary Research
3.2 Secondary Research
3.3 Market Size Estimation
3.4 Forecast Model
3.5 List Of Assumptions
3.6 Limitations Of The Study
4 Market Insights
5 Market Dynamics
5.1 Introduction
5.2 Market Drivers
5.3 Market Restraints
5.4 Market Opportunities
5.5 Porter’s Five Forces Analysis
5.5.1 Threat Of New Entrants
5.5.2 Bargaining Power Of Buyers
5.5.3 Bargaining Power Of Suppliers
5.5.4 Threat Of Substitutes
5.5.5 Intensity Of Rivalry
5.6 Value Chain/Supply Chain Analysis
Continued…
List of Tables:
TABLE 1 MARKETSSS SYNOPSIS 14
TABLE 2 GLOBAL SMART METERS MARKET, BY TYPE, 2015-2023 (USD MILLION) 32
TABLE 3 GLOBAL SMART METERS MARKET, BY TECHNOLOGY, 2015-2023 (USD MILLION) 36
TABLE 4 GLOBAL SMART METERS MARKET, BY APPLICATION, 2015-2023 (USD MILLION) 39
TABLE 5 GLOBAL SMART METERS MARKET, BY REGION, 2015-2023 (USD MILLION) 43
TABLE 6 NORTH AMERICA: SMART METERS MARKET, BY COUNTRY, 2015-2023 (USD MILLION) 44
Continued…
List of Figures
FIGURE 1 RESEARCH PROCESS OF MRFR 17
FIGURE 2 TOP DOWN & BOTTOM UP APPROACH 19
FIGURE 3 DRIVERS & RESTRAINTS IMPACT ANALYSIS OF GLOBAL SMART METERS MARKET 21
FIGURE 4 NUMBER OF SMART METERS INSTALLED IN GREAT BRITAIN (Q1 2013-Q4 2016) 23
FIGURE 5 PORTER'S FIVE FORCES ANALYSIS OF GLOBAL SMART METERS MARKET 26
FIGURE 6 SUPPLY CHAIN ANALYSIS OF GLOBAL SMART METERS MARKET 28
Continued…
Browse more information on this report at: https://www.marketresearchfuture.com/reports/smart-meters-market-4569
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
Contact Info:
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Email: Send Email
Organization: Market Research Future
Address: Market Research Future Office No. 528,, Amanora Chambers Magarpatta Road, Pune, India.,
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Website: https://www.marketresearchfuture.com/reports/smart-meters-market-4569
Source: MarketersMedia
Release ID: 88896507
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