Report Description

Forecast Period

2024-2028

Market Size (2022)

USD 9.35 billion

CAGR (2023-2028)

5.53%

Fastest Growing Segment

Automatic Meter Reading (AMR)

Largest Market

Asia Pacific


Market Overview

Global Smart Electric Meter Market has valued at USD 9.35 billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 5.53% through 2028. The increasing demand for enhanced and efficient data monitoring systems, coupled with favorable government incentives worldwide, serves as a significant catalyst driving the growth of the Global Smart Electric Meter Market. Additionally, the cost savings derived from the utilization of Smart Electric Meters, which eliminate error discrepancies, further contribute to market expansion. Furthermore, with the rising significance of renewable energy, the precise calculation of energy production from remote sites necessitates the use of smart meters, thereby fueling the growth of the Global Smart Electric Meter Market.

Key Market Drivers

Increasing Emphasis on Energy Efficiency and Sustainability

The global smart electric meter market is witnessing substantial growth, primarily propelled by an increasing focus on energy efficiency and sustainability. As the world grapples with the challenges of climate change and the depletion of natural resources, governments, businesses, and consumers are recognizing the significance of optimizing energy consumption and reducing greenhouse gas emissions. Smart electric meters play a pivotal role in accomplishing these objectives.

One of the key drivers in this context is the growing consumer awareness regarding the environmental impact of their energy usage. With the availability of real-time data through smart meters, consumers can closely monitor their electricity consumption and make informed decisions to minimize wastage. This heightened awareness is driving individuals and households to voluntarily adopt smart meters, contributing to market growth.

On a larger scale, governments and utilities are implementing initiatives and regulations to promote the deployment of smart meters. Many countries have set ambitious targets to reduce carbon emissions and increase the share of renewable energy sources in their energy mix. Smart meters facilitate the attainment of these objectives by enabling better demand-side management, integration of renewable energy sources, and reduction of transmission and distribution losses. Consequently, governments are offering incentives, subsidies, and regulatory frameworks that mandate the installation of smart meters, thereby propelling market growth.

Furthermore, businesses are increasingly recognizing the benefits of smart electric meters in achieving their sustainability goals. Industries are adopting energy management solutions to optimize their operations and reduce energy costs. Smart meters provide detailed data that allows businesses to identify energy-saving opportunities and implement efficiency measures. This is particularly significant for energy-intensive sectors such as manufacturing and mining, where energy costs can constitute a substantial portion of operational expenses.

In conclusion, the growing focus on energy efficiency and sustainability serves as a prominent driver of the global smart electric meter market. Consumer awareness, government initiatives, and the business imperative to reduce energy costs and carbon footprints are all contributing to the rapid adoption of smart meters. As the world continues to prioritize environmental concerns, the smart electric meter market is expected to experience sustained growth in the coming years.

Growing Adoption of Advanced Metering Infrastructure (AMI)

The global smart electric meter market is witnessing substantial growth, primarily attributed to the expanding adoption of Advanced Metering Infrastructure (AMI) systems. AMI represents a comprehensive and integrated approach to grid modernization, incorporating smart meters, communication networks, data management systems, and advanced analytics. This transformation of traditional metering systems is significantly contributing to the evolution of the energy sector.

One of the key drivers behind the increasing adoption of AMI is the imperative for utilities to enhance the reliability and efficiency of their grid infrastructure. Aging grid systems, coupled with the growing demand for electricity, necessitate the deployment of smart meters that provide real-time data on energy consumption and grid performance. AMI empowers utilities to remotely monitor and manage their grid networks, leading to quicker response times in case of outages or technical issues. This, in turn, improves overall service quality and enhances customer satisfaction.

Another important driver is the integration of renewable energy sources into the grid. As solar and wind energy installations expand, grid operators require efficient management of the intermittency associated with these sources. Smart meters play a pivotal role by enabling demand response programs and facilitating the integration of distributed energy resources. They provide utilities with real-time balancing of supply and demand, reducing the need for costly infrastructure upgrades and ensuring grid stability.

Moreover, the rise of electric vehicles (EVs) is accelerating the adoption of smart electric meters. With the increasing popularity of EVs, there is a growing need for robust charging infrastructure. Smart meters can support the management of EV charging, optimizing load distribution and ensuring charging occurs during off-peak hours to prevent grid congestion. This not only benefits EV owners but also contributes to overall grid efficiency.

In summary, the escalating adoption of Advanced Metering Infrastructure (AMI) serves as a major driver for the global smart electric meter market. Utilities' endeavors to enhance grid reliability, integrate renewable energy sources, and accommodate the rising demand for electric vehicles are fueling the deployment of smart meters. As the energy landscape continues to evolve, AMI is expected to play a pivotal role in shaping the future of the electricity grid.

Increasing Focus on Grid Modernization and Digitalization

The global smart electric meter market is experiencing strong growth due to the increasing focus on grid modernization and digitalization. With aging electricity grids and evolving demands, utilities and governments worldwide recognize the need to upgrade infrastructure and leverage digital technologies to enhance grid performance and reliability.

Grid resilience and reliability are driving this trend. Traditional electric grids face challenges such as extreme weather events, cyberattacks, and equipment failures. Smart electric meters, equipped with advanced sensors and communication capabilities, enable real-time monitoring of grid conditions. This enhanced visibility allows for quicker detection and response to faults and outages, reducing downtime and improving overall grid reliability.

Furthermore, the integration of renewable energy sources like solar and wind into the grid necessitates advanced metering solutions. Smart meters enable effective management of the variability of renewable generation. They collect data on energy generation and consumption patterns, facilitating grid optimization and the integration of clean energy sources. This aligns with global efforts to reduce carbon emissions and transition towards more sustainable energy systems.

The rise of smart cities and the Internet of Things (IoT) also drives the adoption of smart electric meters. Smart meters play a vital role in smart city initiatives by providing data for energy optimization, urban planning, and improving residents' quality of life. These meters support the deployment of smart grids that dynamically adjust energy distribution based on real-time data, ultimately leading to more efficient energy management and reduced environmental impact.

Regulatory support and government incentives are another crucial driver. Many governments actively promote grid modernization and digitalization through financial incentives and regulatory frameworks. This regulatory push propels the deployment of smart electric meters across regions and markets.

In conclusion, the increasing focus on grid modernization and digitalization serves as a significant driver for the global smart electric meter market. The need for grid resilience, the integration of renewable energy sources, the development of smart cities, and government initiatives all contribute to the widespread adoption of smart meters. As the demand for more efficient and sustainable energy systems continues to grow, the smart electric meter market is poised for sustained expansion.



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Key Market Challenges

Data Privacy and Security Concerns

One of the primary challenges confronting the global smart electric meter market is the growing concern surrounding data privacy and security. Smart meters gather a vast amount of sensitive information about consumers' electricity consumption patterns, which can be subject to exploitation if not adequately safeguarded. This information encompasses not only energy usage but also details regarding consumers' presence or absence from home, thereby raising privacy concerns.

The challenge commences with the sheer volume of data generated by smart meters. These devices collect data at frequent intervals, sometimes as frequently as every 15 minutes, resulting in substantial datasets that necessitate secure storage and transmission. Any breach in data security could potentially expose personal information, leading to privacy breaches or even identity theft.

Moreover, smart meters are susceptible to cyberattacks. Unauthorized access to the metering infrastructure by hackers may be attempted to manipulate data, disrupt grid operations, or even launch attacks on other critical infrastructure. The consequences of such attacks can be severe, impacting not only individual consumers but also the stability of entire energy grids.

Addressing these challenges pertaining to data privacy and security requires significant investments in cybersecurity measures. Utilities and metering companies must implement robust encryption protocols, secure data storage solutions, and continuous monitoring systems to detect and respond to potential threats. Additionally, governments and regulatory bodies must establish clear and stringent cybersecurity standards to safeguard consumers' data and the integrity of the energy infrastructure.

As the smart electric meter market continues to expand, the necessity for proactive and comprehensive cybersecurity measures becomes increasingly crucial. Striking a balance between the advantages of real-time data and the protection of consumer privacy and grid security remains a complex and evolving challenge.

Interoperability and Standardization

One of the significant challenges in the global smart electric meter market is the issue of interoperability and standardization. Smart meters are manufactured by various companies, each utilizing different communication protocols and technologies. This lack of uniformity can impede the seamless integration of smart meters into existing grid infrastructure and create compatibility issues.

Interoperability challenges are particularly evident when multiple utilities or regions adopt different smart meter technologies. In such cases, consumers who relocate may encounter difficulties with their smart meters, as the meters installed in their new location may not be compatible with their previous metering infrastructure. This lack of interoperability can lead to increased costs and complications for both consumers and utilities.

Standardization is crucial to address these challenges and ensure effective communication between smart meters from different manufacturers and the broader grid ecosystem. International standards for smart metering, such as those developed by organizations like the International Electrotechnical Commission (IEC) and the Institute of Electrical and Electronics Engineers (IEEE), establish a common framework for smart meter technology.

However, achieving widespread adoption of these standards can be challenging, as it requires cooperation among manufacturers, utilities, and regulatory bodies. Additionally, retrofitting existing meters to comply with new standards can be costly and time-consuming.

To overcome these challenges, stakeholders in the smart electric meter market must collaborate to promote interoperability and standardization. Utilities and governments should encourage the adoption of common standards, and manufacturers should prioritize compatibility in their product offerings. Addressing these challenges will facilitate the seamless integration of smart meters into grid infrastructure and ensure a more efficient and cost-effective deployment.

Cost and Deployment Challenges

The deployment of smart electric meters presents a substantial challenge to the global market. While these meters offer long-term benefits in terms of grid optimization and improved energy management, the upfront costs can be considerable. These costs encompass not only the purchase and installation of the meters themselves, but also the required communication infrastructure and data management systems.

Utilities and governments often face the need for significant investments to replace existing meters with smart meters, especially in large-scale deployments. These costs can strain utility budgets, particularly in regions with limited financial resources. Furthermore, the return on investment from smart meters may take several years to materialize, posing a challenging proposition for some utilities.

In addition, the deployment of smart meters can encounter logistical challenges. Coordinating meter installations across a wide geographic area can be complex and time-consuming. Utilities must schedule installations with minimal disruption to consumers, which can slow down the deployment process.

Moreover, consumer acceptance and concerns surrounding smart meters can also impede deployment. Some consumers may exhibit wariness of the new technology, citing privacy concerns or perceived health risks from radiofrequency emissions. It is crucial to address these concerns and ensure that consumers are well-informed about the benefits of smart meters for successful deployment.

To overcome these challenges, utilities, governments, and stakeholders must collaborate to develop cost-effective deployment strategies. This may involve exploring financing options such as public-private partnerships to share deployment costs. Additionally, robust consumer education and engagement efforts can help foster trust and acceptance of smart meters, facilitating smoother installations.

In conclusion, the cost of deployment, interoperability and standardization, and data privacy and security concerns pose significant challenges to the global smart electric meter market. Addressing these challenges requires collaboration among utilities, manufacturers, governments, and regulatory bodies to ensure the successful integration of smart meters into the energy grid while safeguarding consumer privacy and security.

Key Market Trends

Increasing Integration of IoT and Advanced Analytics

One significant trend observed in the global smart electric meter market is the growing integration of the Internet of Things (IoT) and advanced analytics into metering systems. Smart meters are evolving from mere data collection devices into sophisticated IoT nodes that can establish communication with various other devices and systems within homes, grids, and smart cities.

The integration of IoT enables smart meters to function as central components of broader smart home ecosystems. These meters can communicate with smart thermostats, appliances, and lighting systems to optimize real-time energy usage. For instance, during periods of high electricity demand, a smart meter can signal a compatible thermostat to adjust temperature settings for energy conservation. This trend empowers consumers to make informed decisions about their energy consumption and enhance overall energy efficiency.

Furthermore, advanced analytics tools are being utilized to process the vast amounts of data generated by smart meters. Machine learning algorithms and artificial intelligence can analyze consumption patterns and identify anomalies, which prove useful for fraud detection, predictive maintenance of grid infrastructure, and load forecasting. These insights not only improve grid management but also contribute to better customer service and energy conservation.

The integration of IoT and advanced analytics in smart electric metering systems drives a shift toward more intelligent and responsive energy management, benefiting both consumers and utilities. This trend is expected to persist as the technology matures and becomes more affordable, further enhancing the capabilities of smart meters and the overall grid ecosystem.

Demand Response and Time-of-Use Pricing

Another notable trend in the global smart electric meter market is the increasing adoption of demand response programs and time-of-use pricing models. These initiatives leverage the capabilities of smart meters to incentivize consumers to shift their electricity usage to off-peak hours, thus alleviating strain on the grid during periods of high demand.

Demand response programs enable utilities to send signals to smart meters, prompting them to curtail or adjust electricity consumption during peak periods. In return for participating in these programs, consumers often receive financial incentives or lower electricity rates during off-peak hours. Smart meters play a crucial role in facilitating this real-time communication and control.

Time-of-use pricing models complement demand response by offering consumers variable electricity rates based on the time of day. With smart meters, utilities can implement dynamic pricing structures that encourage consumers to use electricity when it is less expensive, typically during non-peak hours. Consumers who can flexibly manage their energy usage can benefit from cost savings, while utilities can optimize grid operations by reducing peak demand.

These trends align with the broader goal of grid optimization and energy efficiency. By leveraging the capabilities of smart meters to shift energy consumption patterns, utilities can reduce the need for costly infrastructure upgrades and enhance grid stability. Additionally, consumers gain greater control over their electricity bills and are incentivized to adopt energy-efficient practices.

The adoption of demand response and time-of-use pricing is expected to continue growing as utilities seek innovative ways to manage energy demand, and consumers become more conscientious of their energy consumption habits. This trend is likely to play a pivotal role in achieving a more sustainable and resilient energy grid.

Segmental Insights

Phase Insights

The Single Phase segment emerged as the dominant player in the global market for Smart Electric Meter in 2022. The segment of single-phase smart electric meters has been experiencing significant global growth. This growth is primarily driven by the increasing demand for advanced metering solutions in residential areas where single-phase electrical connections are prevalent. The adoption of these meters is expanding in regions such as North America, Europe, Asia-Pacific, and Latin America.

Single-phase smart meters are primarily designed for residential and small commercial customers. They provide accurate and real-time data on electricity consumption, enabling consumers to effectively monitor and manage their energy usage. Small businesses and homeowners are increasingly recognizing the benefits of these meters in optimizing energy consumption and reducing utility bills.

Continuous technological advancements have been witnessed in the single-phase smart meter segment. These meters are becoming more sophisticated, incorporating features such as two-way communication, remote disconnect and reconnect capabilities, tamper detection, and integration with home automation systems. These advancements enhance both grid management and consumer control.

Integration with the Internet of Things (IoT) and smart home devices is increasingly being observed with single-phase smart meters. Consumers can connect their meters to smart thermostats, appliances, lighting systems, and energy management apps, creating a comprehensive smart home ecosystem. This integration allows for more precise control over energy usage and improved energy efficiency.

Utilities are leveraging single-phase smart meters to implement demand response programs aimed at reducing peak electricity demand. By offering time-based pricing incentives and real-time communication capabilities, utilities can encourage consumers to shift their energy consumption to off-peak hours, thereby optimizing grid operations.

End User Insights

The Residential segment is projected to experience rapid growth during the forecast period. The residential segment of the global smart electric meter market has been witnessing significant growth. This growth is attributed to various factors, including the rising demand for energy efficiency, environmental sustainability, and accurate billing in residential areas.

Residential consumers are increasingly adopting smart electric meters to gain better control over their energy consumption. These meters provide real-time data on energy usage, empowering homeowners to identify energy-saving opportunities, optimize consumption patterns, and ultimately reduce electricity bills. The focus on cost savings and energy efficiency plays a crucial role in driving adoption.

Integration of smart electric meters with smart home devices, such as thermostats, appliances, lighting systems, and home energy management systems, is common in the residential segment. This integration enables homeowners to create a connected and energy-efficient home ecosystem. For instance, smart meters can communicate with smart thermostats to adjust heating or cooling settings based on energy consumption patterns.

Utilities are leveraging smart meters in the residential segment to implement demand response programs. These programs incentivize homeowners to shift their energy usage to off-peak hours, thereby reducing strain on the grid during peak demand periods. Real-time communication and time-based pricing facilitated by smart meters enhance the effectiveness of demand response initiatives.

Smart meters generate a vast amount of data on residential energy consumption. Utilities and homeowners can leverage this data for advanced analytics and insights, including trend identification, anomaly detection, and data-driven decision-making to enhance energy efficiency and grid management.

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Regional Insights

Asia Pacific emerged as the dominant player in the global Smart Electric Meter market in 2022, holding the largest market share. With countries like China and India, characterized by large populations and increasing urbanization, driving substantial market expansion, the region is poised for significant advancements. China, in particular, plays a critical role as both a consumer and a manufacturer in the smart meter market.

Government initiatives and policies are instrumental in promoting the adoption of smart electric meters across the Asia-Pacific region. Ambitious targets set by many countries to improve energy efficiency and reduce carbon emissions have spurred the implementation of incentives, subsidies, and regulatory frameworks. These measures aim to encourage utilities and consumers to invest in smart metering infrastructure.

The pressing need for grid modernization in several Asia-Pacific countries has propelled the deployment of smart meters. Aging grid infrastructure coupled with the challenge of meeting escalating energy demands underscores the importance of these meters. They empower utilities to enhance grid reliability, minimize losses, and improve outage management.

To efficiently manage peak electricity demand, numerous countries in the Asia-Pacific region are implementing demand response programs. Smart meters enable utilities to implement dynamic pricing and demand-side management strategies, incentivizing consumers to shift their energy consumption to off-peak hours.

The Asia-Pacific region has experienced remarkable growth in renewable energy sources, such as solar and wind power. Smart meters play a crucial role in integrating these intermittent energy sources into the grid, ensuring stability and optimizing the utilization of renewable energy.

Recent Developments

  • In August 2022, Adani Electricity Mumbai Limited (AEML) announced its plan to invest approximately USD 60 million for the installation of smart meters in Mumbai, India. The company aims to deploy around seven lakh smart meters in the region by the end of 2023. These smart electricity meters will provide customers with real-time updates on their power consumption.
  • In April 2021, Itron introduced a new residential smart electricity meter designed for German utilities. This innovative eHZ-B smart meter offers advanced functionality to support German cities and utilities in their energy transition efforts. With this development, Itron will assist in implementing the advanced metering infrastructure across Europe, in compliance with German regulations in the market.

Key Market Players

  • Landis+gyr Group AG
  • Wasion Group Holdings
  • Elster Group GMBH (Honeywell International Inc.)
  • Jiangsu Linyang Energy Co. Ltd
  • Ningbo Sanxing Electric Co. Ltd
  • Kamstrup A/S
  • Hexing Electric Company Ltd
  • Itron Inc.
  • Holley Technology Ltd
  • Sensus USA Inc. (Xylem Inc)

By Type

By Phase

By Technology

By End User

By Region

  • Automatic Metering Infrastructure (AMI)
  • Automatic Meter Reading (AMR)
  • Single Phase
  • Three Phase  
  • Power Line Communication
  • Radio Frequency
  • Cellular
  • Residential
  • Commercial
  • Industrial
  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East & Africa


Report Scope:

In this report, the Global Smart Electric Meter Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Smart Electric Meter Market, By Type:

o   Automatic Metering Infrastructure (AMI)

o   Automatic Meter Reading (AMR)

  • Smart Electric Meter Market, By Phase:

o   Single Phase

o   Three Phase      

  • Smart Electric Meter Market, By Technology:

o   Power Line Communication

o   Radio Frequency

o   Cellular   

  • Smart Electric Meter Market, By End User:

o   Residential

o   Commercial

o   Industrial   

  • Smart Electric Meter Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Europe

§  France

§  United Kingdom

§  Italy

§  Germany

§  Spain

o   Asia-Pacific

§  China

§  India

§  Japan

§  Australia

§  South Korea

o   South America

§  Brazil

§  Argentina

§  Colombia

o   Middle East & Africa

§  South Africa

§  Saudi Arabia

§  UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Smart Electric Meter Market.

Available Customizations:

Global Smart Electric Meter market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Global Smart Electric Meter Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected] 

Table of content

1.         Product Overview

1.1.    Market Definition

1.2.    Scope of the Market

1.2.1.Markets Covered

1.2.2.Years Considered for Study

1.2.3.Key Market Segmentations

2.         Research Methodology

2.1.    Objective of the Study

2.2.    Baseline Methodology

2.3.    Formulation of the Scope

2.4.    Assumptions and Limitations

2.5.    Sources of Research

2.5.1.Secondary Research

2.5.2.Primary Research

2.6.    Approach for the Market Study

2.6.1.The Bottom-Up Approach

2.6.2.The Top-Down Approach

2.7.    Methodology Followed for Calculation of Market Size & Market Shares

2.8.    Forecasting Methodology

2.8.1.Data Triangulation & Validation

3.         Executive Summary

4.         Impact of COVID-19 on Global Smart Electric Meter Market

5.         Voice of Customer

6.         Global Smart Electric Meter Market Overview

7.         Global Smart Electric Meter Market Outlook

7.1.    Market Size & Forecast

7.1.1.By Value

7.2.    Market Share & Forecast

7.2.1.By Type (Automatic Metering Infrastructure (AMI) and Automatic Meter Reading (AMR))

7.2.2.By Phase (Single Phase and Three Phase)

7.2.3.By Technology (Power Line Communication, Radio Frequency and Cellular)

7.2.4.By End User (Residential, Commercial and Industrial)

7.2.5.By Region (North America, Europe, South America, Middle East & Africa, Asia Pacific)

7.3.    By Company (2022)

7.4.    Market Map

8.         North America Smart Electric Meter Market Outlook

8.1.    Market Size & Forecast

8.1.1.By Value

8.2.    Market Share & Forecast

8.2.1.        By Type

8.2.2.        By Phase

8.2.3.        By Technology

8.2.4.        By End User

8.2.5.By Country

8.3.    North America: Country Analysis

8.3.1.United States Smart Electric Meter Market Outlook

8.3.1.1.      Market Size & Forecast

8.3.1.1.1.    By Value

8.3.1.2.      Market Share & Forecast

8.3.1.2.1.    By Type

8.3.1.2.2.    By Phase

8.3.1.2.3.    By Technology

8.3.1.2.4.    By End User

8.3.2.Canada Smart Electric Meter Market Outlook

8.3.2.1.      Market Size & Forecast

8.3.2.1.1.    By Value

8.3.2.2.      Market Share & Forecast

8.3.2.2.1.    By Type

8.3.2.2.2.    By Phase

8.3.2.2.3.    By Technology

8.3.2.2.4.    By End User

8.3.3.Mexico Smart Electric Meter Market Outlook

8.3.3.1.      Market Size & Forecast

8.3.3.1.1.    By Value

8.3.3.2.      Market Share & Forecast

8.3.3.2.1.    By Type

8.3.3.2.2.    By Phase

8.3.3.2.3.    By Technology

8.3.3.2.4.    By End User

9.         Europe Smart Electric Meter Market Outlook

9.1.    Market Size & Forecast

9.1.1.By Value

9.2.    Market Share & Forecast

9.2.1.        By Type

9.2.2.        By Phase

9.2.3.        By Technology

9.2.4.        By End User

9.2.5.By Country

9.3.    Europe: Country Analysis

9.3.1.Germany Smart Electric Meter Market Outlook

9.3.1.1.      Market Size & Forecast

9.3.1.1.1.    By Value

9.3.1.2.      Market Share & Forecast

9.3.1.2.1.    By Type

9.3.1.2.2.    By Phase

9.3.1.2.3.    By Technology

9.3.1.2.4.    By End User

9.3.2.France Smart Electric Meter Market Outlook

9.3.2.1.      Market Size & Forecast

9.3.2.1.1.    By Value

9.3.2.2.      Market Share & Forecast

9.3.2.2.1.    By Type

9.3.2.2.2.    By Phase

9.3.2.2.3.    By Technology

9.3.2.2.4.    By End User

9.3.3.United Kingdom Smart Electric Meter Market Outlook

9.3.3.1.      Market Size & Forecast

9.3.3.1.1.    By Value

9.3.3.2.      Market Share & Forecast

9.3.3.2.1.    By Type

9.3.3.2.2.    By Phase

9.3.3.2.3.    By Technology

9.3.3.2.4.    By End User

9.3.4.Italy Smart Electric Meter Market Outlook

9.3.4.1.      Market Size & Forecast

9.3.4.1.1.    By Value

9.3.4.2.      Market Share & Forecast

9.3.4.2.1.    By Type

9.3.4.2.2.    By Phase

9.3.4.2.3.    By Technology

9.3.4.2.4.    By End User

9.3.5.Spain Smart Electric Meter Market Outlook

9.3.5.1.      Market Size & Forecast

9.3.5.1.1.    By Value

9.3.5.2.      Market Share & Forecast

9.3.5.2.1.    By Type

9.3.5.2.2.    By Phase

9.3.5.2.3.    By Technology

9.3.5.2.4.    By End User

10.      South America Smart Electric Meter Market Outlook

10.1. Market Size & Forecast

10.1.1.     By Value

10.2. Market Share & Forecast

10.2.1.     By Type

10.2.2.     By Phase

10.2.3.     By Technology

10.2.4.     By End User

10.2.5.     By Country

10.3. South America: Country Analysis

10.3.1.     Brazil Smart Electric Meter Market Outlook

10.3.1.1.   Market Size & Forecast

10.3.1.1.1. By Value

10.3.1.2.   Market Share & Forecast

10.3.1.2.1. By Type

10.3.1.2.2. By Phase

10.3.1.2.3. By Technology

10.3.1.2.4. By End User

10.3.2.     Colombia Smart Electric Meter Market Outlook

10.3.2.1.   Market Size & Forecast

10.3.2.1.1. By Value

10.3.2.2.   Market Share & Forecast

10.3.2.2.1. By Type

10.3.2.2.2. By Phase

10.3.2.2.3. By Technology

10.3.2.2.4. By End User

10.3.3.     Argentina Smart Electric Meter Market Outlook

10.3.3.1.   Market Size & Forecast

10.3.3.1.1. By Value

10.3.3.2.   Market Share & Forecast

10.3.3.2.1. By Type

10.3.3.2.2. By Phase

10.3.3.2.3. By Technology

10.3.3.2.4. By End User

11.      Middle East & Africa Smart Electric Meter Market Outlook

11.1. Market Size & Forecast

11.1.1.     By Value

11.2. Market Share & Forecast

11.2.1.     By Type

11.2.2.     By Phase

11.2.3.     By Technology

11.2.4.     By End User

11.2.5.     By Country

11.3. Middle East & Africa: Country Analysis

11.3.1.     Saudi Arabia Smart Electric Meter Market Outlook

11.3.1.1.   Market Size & Forecast

11.3.1.1.1. By Value

11.3.1.2.   Market Share & Forecast

11.3.1.2.1. By Type

11.3.1.2.2. By Phase

11.3.1.2.3. By Technology

11.3.1.2.4. By End User

11.3.2.     UAE Smart Electric Meter Market Outlook

11.3.2.1.   Market Size & Forecast

11.3.2.1.1. By Value

11.3.2.2.   Market Share & Forecast

11.3.2.2.1. By Type

11.3.2.2.2. By Phase

11.3.2.2.3. By Technology

11.3.2.2.4. By End User

 

11.3.3.     South Africa Smart Electric Meter Market Outlook

11.3.3.1.   Market Size & Forecast

11.3.3.1.1. By Value

11.3.3.2.   Market Share & Forecast

11.3.3.2.1. By Type

11.3.3.2.2. By Phase

11.3.3.2.3. By Technology

11.3.3.2.4. By End User

12.      Asia Pacific Smart Electric Meter Market Outlook

12.1. Market Size & Forecast

12.1.1.     By Type

12.1.2.     By Phase

12.1.3.     By Technology

12.1.4.     By End User

12.1.5.     By Country

12.2. Asia-Pacific: Country Analysis

12.2.1.     China Smart Electric Meter Market Outlook

12.2.1.1.   Market Size & Forecast

12.2.1.1.1. By Value

12.2.1.2.   Market Share & Forecast

12.2.1.2.1. By Type

12.2.1.2.2. By Phase

12.2.1.2.3. By Technology

12.2.1.2.4. By End User

12.2.2.     India Smart Electric Meter Market Outlook

12.2.2.1.   Market Size & Forecast

12.2.2.1.1. By Value

12.2.2.2.   Market Share & Forecast

12.2.2.2.1. By Type

12.2.2.2.2. By Phase

12.2.2.2.3. By Technology

12.2.2.2.4. By End User

12.2.3.     Japan Smart Electric Meter Market Outlook

12.2.3.1.   Market Size & Forecast

12.2.3.1.1. By Value

12.2.3.2.   Market Share & Forecast

12.2.3.2.1. By Type

12.2.3.2.2. By Phase

12.2.3.2.3. By Technology

12.2.3.2.4. By End User

12.2.4.     South Korea Smart Electric Meter Market Outlook

12.2.4.1.   Market Size & Forecast

12.2.4.1.1. By Value

12.2.4.2.   Market Share & Forecast

12.2.4.2.1. By Type

12.2.4.2.2. By Phase

12.2.4.2.3. By Technology

12.2.4.2.4. By End User

12.2.5.     Australia Smart Electric Meter Market Outlook

12.2.5.1.   Market Size & Forecast

12.2.5.1.1. By Value

12.2.5.2.   Market Share & Forecast

12.2.5.2.1. By Type

12.2.5.2.2. By Phase

12.2.5.2.3. By Technology

12.2.5.2.4. By End User

13.      Market Dynamics

13.1. Drivers

13.2. Challenges

14.      Market Trends and Developments

15.      Company Profiles

15.1.  Landis+gyr Group AG

15.1.1.     Business Overview

15.1.2.     Key Revenue and Financials  

15.1.3.     Recent Developments

15.1.4.     Key Personnel/Key Contact Person

15.1.5.     Key Product/Services Offered

15.2.  Wasion Group Holdings

15.2.1.     Business Overview

15.2.2.     Key Revenue and Financials  

15.2.3.     Recent Developments

15.2.4.     Key Personnel/Key Contact Person

15.2.5.     Key Product/Services Offered

15.3.  Elster Group GMBH (Honeywell International Inc.)

15.3.1.     Business Overview

15.3.2.     Key Revenue and Financials  

15.3.3.     Recent Developments

15.3.4.     Key Personnel/Key Contact Person

15.3.5.     Key Product/Services Offered

15.4.  Jiangsu Linyang Energy Co. Ltd

15.4.1.     Business Overview

15.4.2.     Key Revenue and Financials  

15.4.3.     Recent Developments

15.4.4.     Key Personnel/Key Contact Person

15.4.5.     Key Product/Services Offered

15.5.  Ningbo Sanxing Electric Co. Ltd

15.5.1.     Business Overview

15.5.2.     Key Revenue and Financials  

15.5.3.     Recent Developments

15.5.4.     Key Personnel/Key Contact Person

15.5.5.     Key Product/Services Offered

15.6.  Kamstrup A/S

15.6.1.     Business Overview

15.6.2.     Key Revenue and Financials  

15.6.3.     Recent Developments

15.6.4.     Key Personnel/Key Contact Person

15.6.5.     Key Product/Services Offered

15.7.  Hexing Electric Company Ltd

15.7.1.     Business Overview

15.7.2.     Key Revenue and Financials  

15.7.3.     Recent Developments

15.7.4.     Key Personnel/Key Contact Person

15.7.5.     Key Product/Services Offered

15.8.  Itron Inc.

15.8.1.     Business Overview

15.8.2.     Key Revenue and Financials  

15.8.3.     Recent Developments

15.8.4.     Key Personnel/Key Contact Person

15.8.5.     Key Product/Services Offered

15.9.  Holley Technology Ltd

15.9.1.     Business Overview

15.9.2.     Key Revenue and Financials  

15.9.3.     Recent Developments

15.9.4.     Key Personnel/Key Contact Person

15.9.5.     Key Product/Services Offered

15.10.   Sensus USA Inc. (Xylem Inc)

15.10.1.   Business Overview

15.10.2.   Key Revenue and Financials  

15.10.3.   Recent Developments

15.10.4.   Key Personnel/Key Contact Person

15.10.5.   Key Product/Services Offered

16.      Strategic Recommendations

17.    About Us & Disclaimer

Figures and Tables

Frequently asked questions

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The market size of the Global Smart Electric Meter Market was to be USD 9.35 billion in 2022.

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The Single Phase segment emerged as the dominant player in the global market for Smart Electric Meter in 2022. The segment of single-phase smart electric meters has been experiencing significant global growth. This growth is primarily driven by the increasing demand for advanced metering solutions in residential areas where single-phase electrical connections are prevalent. The adoption of these meters is expanding in regions such as North America, Europe, Asia-Pacific, and Latin America.

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Asia Pacific emerged as the dominant player in the global Smart Electric Meter market in 2022, holding the largest market share. With countries like China and India, characterized by large populations and increasing urbanization, driving substantial market expansion, the region is poised for significant advancements. China, in particular, plays a critical role as both a consumer and a manufacturer in the smart meter market.

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Increasing Emphasis on Energy Efficiency and Sustainability is one of the major drivers for the Global Smart Electric Meter Market.

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Parvati Sharma

Account Manager BD
Press Release

Global Smart Electric Meter Market is expected to grow at a robust CAGR

Sep, 2023

Global Smart Electric Meter Market is expected to grow owing to use of smart meters making it a definitive case for adoption and increasing emphasis on renewable energy sources globally throughout th