The global smart electricity meters market is anticipated to reach USD 49.9 billion by 2025, according to a new report by Grand View Research, Inc. The rising demand of energy security has been prevailing in the energy sector from a long time.
Renewable energy generation has sufficed this demand to a greater extent, but the energy provided by such systems is intermittent, and thus energy conservation and efficient utilization of energy are the key aspects of energy security. Smart meters deliver instantaneous data which can be analyzed, and the consumption can be controlled stabilizing the energy demands.
The increasing regulatory initiatives to install the smart meters in various regions around the globe is likely to spur the market demand over the forecast period. Smart meters are a fundamental component of a smart grid network. The smart grids are used to monitor and control the transmission system, which is an enhancement over the conventional electrical network. Initialization of smart grids in various regions is expected to fuel the demand for smart meters over the forecast period.
The commercial segment is largely profited by these smart systems as they assist in increasing the energy efficiency by providing real-time pricing and consumption data display which is directly related to the spending of the segment. However, factors, such as electricity theft are likely to restrain the market growth. Smart Electricity Metering mandates have been established for the European Union with rollout plans set by the Commission for Energy Regulation, among other legislative bodies.
Browse Details of Report, Please Visit @ https://www.grandviewresearch.com/industry-analysis/smart-meters-market
Key Takeaways from the report:
- The growing adoption of smart grids by several regions is anticipated to drive the market
- The residential segment is expected to portray high growth rate with a CAGR of 5.9% over the projected period.
- The European regional market is expected to have significant growth over the forecast period, owing to the large-scale adoption of smart meters.
- The key players in the market include ABB Ltd, General Electric Company, Holley Metering Ltd, Elster Group, Iskraemeco, Itron Inc., Landis+Gyr, Schneider Electric and Siemens AG.
Have Any Query? Ask Our Experts @ https://www.grandviewresearch.com/inquiry/221/ibb
Grand View Research has segmented the Smart Meters market based on structure, offering, growing mechanism, and regions:
Smart Electricity Meters End Use Outlook (Revenue, USD Million;Volume, Million Units; 2014 – 2025)
Smart Electricity Meters Regional Outlook (Revenue, USD Million;Volume, Million Units; 2014 – 2025)
- North America
- Asia Pacific
- South Korea
- South America
- The Middle East and Africa (MEA)
Browse Related Reports :
Smart Speakers Market Size, Share & Trends Analysis Report By Virtual Personal Assistant (Amazon Alexa, Google Assistant, Apple Siri), By Region, And Segment Forecasts, 2018 – 2025
Bluetooth Smart & Smart Ready Market Analysis By Technology, By Application (Transportation, Consumer Electronics, Home Automation, Medical), By Region, And Segment Forecasts, 2018 – 2025
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1-415-349-0058, Toll Free: 1-888-202-9519
Address:201, Spear Street, 1100
City: San Francisco
Country: United States