Global Smart Electric Meter Market to Reach $11.33 Billion by 2023 - Increased Investment in Smart Grid Projects in Key Regions Such as Europe and North America

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May 22, 2018, 02:15 ET

DUBLIN, May 22, 2018 /PRNewswire/ --

The "Smart Electric Meter Market by Communication Technology Type (Radio Frequency, Power Line Communication, and Cellular), End-User (Residential, Commercial, and Industrial), Phase (Single Phase, and Three Phase), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

The smart electric meter market is projected to grow from an estimated USD 9.27 Billion in 2018 to USD 11.33 Billion by 2023, at a CAGR of 4.11%, from 2018 to 2023. The increased need for efficient data monitoring systems, coupled with favourable government policies for a smart meter rollout is driving the market for smart electric meters. Other factors include improved cost savings, increased investment in smart grid projects in Europe and North America, and increased emphasis on renewable energy sources.

The major factor restraining the growth of the smart electric meter market are the delay in smart meter rollout projects, and high initial investment acting as a restraint for growth in developing economies.

The report segments the smart electric meter market, on the basis of end-user, into residential, commercial, and industrial. The residential segment led the smart electric meter market by end-user from 2018 to 2023, owing to the widespread use of sophisticated electrical, electronic, and data equipment. The commercial segment is expected to be the fastest-growing segment of the smart electric meter market, by end-user, during the forecast period.

The global smart electric meter market, by communication technology type, has been segmented into PLC, RF, and cellular-based meters. The PLC segment is the fastest-growing market during the forecast period and is also projected to dominate the market during the same period. PLC is the most commonly used communication technology due to its advantages such as the use of the existing utility infrastructure of poles & wires, improved cost-effectiveness for rural lines, and usability in a challenging terrain.

The report further segments the smart electric meter market, by phase, into single-phase and three-phase configurations. The three-phase segment is the fastest-growing market during the forecast period and is also projected to dominate the market during the same period. Three-phase meters are mostly used in industrial applications and in large commercial applications. Single-phase smart electric meters are mostly used in residential applications and across various industries such as the chemical plants, food & beverage, cement, steel manufacturing, automotive.

In this report, the smart electric meter market has been analyzed with respect to six regions, namely, Asia Pacific, North America, Europe, the Middle East, Latin America, and Africa. Asia Pacific is expected to dominate the smart electric meter market during the forecast period because of the rise in investments in smart grid technologies and smart cities, the increase in the number of data centers, and a surge in IT hubs and commercial institutions. Europe is expected to grow at the fastest rate during the forecast period because of government initiatives such as the European Union's (EU) 20:20:20 plan, which aims at reducing greenhouse gas emissions.

Key Topics Covered

1 Introduction
1.1 Objectives of the Study
1.2 Definition
1.3 Market Scope
1.3.1 Markets Covered
1.3.2 Countries Covered
1.4 Years Considered for the Study
1.5 Currency
1.6 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Primaries
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Market Breakdown & Data Triangulation
2.4 Assumptions
2.5 Limitations

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Smart Electric Meter Market
4.2 Smart Electric Meter Market, By End-User
4.3 Smart Electric Meter Market, By Country
4.4 Asia Pacific Smart Electric Meter Market, By End-User & Country
4.5 Smart Electric Meter Market, By Phase
4.6 Smart Electric Meter Market, By Communication Technology Type

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increased Need for Efficient Data Monitoring Systems Coupled With Favorable Government Policies for Smart Meter Rollout
5.2.1.2 Improved Cost Savings Owing to the Use of Smart Meters Make A Definitive Case for Adoption
5.2.1.3 Increased Investment in Smart Grid Projects in Key Regions Such as Europe and North America
5.2.1.4 Increasing Emphasis on Renewable Energy Sources Globally
5.2.2 Restraints
5.2.2.1 High Initial Investment Acting as A Restraint for Growth in Developing Economies
5.2.2.2 Delay in Smart Meter Rollout Projects
5.2.3 Opportunities
5.2.3.1 Demand for Smart Grids and Energy Efficiency in Emerging Markets
5.2.3.2 Electric Vehicle and Grid Integration
5.2.4 Challenges
5.2.4.1 Cybersecurity & Data Privacy

6 Smart Electric Meter Market, By Phase
6.1 Introduction
6.2 Single Phase
6.3 Three Phase

7 Smart Electric Meter Market, By Communication Technology Type
7.1 Introduction
7.2 Power Line Communication
7.3 Radio Frequency
7.4 Cellular

8 Smart Electric Meter Market, By End-User
8.1 Introduction
8.2 Residential
8.3 Commercial
8.4 Industrial

9 Smart Electric Meter Market, By Region
9.1 Introduction
9.2 Asia Pacific
9.2.1 By Phase
9.2.2 By Communication Technology Type
9.2.3 By End-User
9.2.4 By Country
9.2.4.1 China
9.2.4.2 Japan
9.2.4.3 Australia
9.2.4.4 India
9.2.4.5 Rest of Asia Pacific
9.3 North America
9.3.1 By Phase
9.3.2 By Communication Technology Type
9.3.3 By End-User
9.3.4 By Country
9.3.4.1 US
9.3.4.2 Canada
9.4 Europe
9.4.1 By Phase
9.4.2 By Communication Technology Type
9.4.3 By End-User
9.4.4 By Country
9.4.4.1 UK
9.4.4.2 Germany
9.4.4.3 France
9.4.4.4 Rest of Europe
9.5 Latin America
9.5.1 By Phase
9.5.2 By Communication Technology Type
9.5.3 By End-User
9.5.4 By Country
9.5.4.1 Brazil
9.5.4.2 Mexico
9.5.4.3 Rest of Latin America
9.6 Middle East
9.6.1 By Phase
9.6.2 By Communication Technology Type
9.6.3 By End-User
9.6.4 By Country
9.6.4.1 Saudi Arabia
9.6.4.2 UAE
9.6.4.3 Kuwait
9.6.4.4 Rest of the Middle East
9.7 Africa
9.7.1 By Phase
9.7.2 By Communication Technology Type
9.7.3 By End-User
9.7.4 By Country
9.7.4.1 South Africa
9.7.4.2 Rest of Africa

10 Competitive Landscape
10.1 Introduction
10.2 Key Players & Market Structure
10.3 Competitive Scenario
10.3.1 Contracts & Agreements
10.3.2 New Product Launches
10.3.3 Investments & Expansions
10.3.4 Mergers & Acquisitions
10.3.5 Partnerships, Collaborations, Alliances, & Joint Ventures

11 Company Profiles
11.1 Benchmarking
11.2 Landis+Gyr (Toshiba Corporation)
11.3 Itron
11.4 Honeywell
11.5 Aclara
11.6 Microchip Technology
11.7 Iskraemeco
11.8 Wasion Group
11.9 Schneider Electric
11.10 Jiangsu Linyang
11.11 Siemens
11.12 Genus Power Infrastructure
11.13 Networked Energy Services
11.14 Holley Metering

For more information about this report visit https://www.researchandmarkets.com/research/vpjfcs/global_smart?w=5

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