The global Smart Meters Market is expected to witness a staggering CAGR in the upcoming period. This could be credited to feasible government policies coupled with fiscal incentives. Smart meters come across as devices that acquire utmost precision in monitoring electromagnetic radiation which, in turn, does help in managing the usage of energy effectively. The other advantages offered by smart meters include reduced meter reading cost, removal of inefficiencies in billing, abstinence of re-connection and disconnection costs to consumers and corporations. At the same time, restraints do exist in the form of high installation cost. Besides, there is a dearth of skilled professionals on this count; which adds to the worries.
The smart meter market is segmented on the basis of end-user, type, and geography. By type, the segmentation goes like smart water meter, smart electric meter, and smart gas meter. By end-user, the market constitutes residential and commercial & industrial. By geography, the segmentation comprises North America, LATAM, Asia Pacific, Europe, and MEA.
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North America and Europe have already reached saturation in this regard. It’s Asia Pacific doing the rounds now. It is expected to be the torchbearer in the forthcoming period as well. This could be attributed to investments in smart cities, gas pipeline networks, smart grid, upgradation & repair on the part of infrastructure, prevention of water, gas, and electricity theft, and managing water scarcity.
In the U.S., emissions from the smart meters are well within the limits provided by the U.S. Federal Communications Commission (FCC); but here as well as in the UK some campaign groups are slamming their usage as being unhealthy.
The players contributing to the smart meters market include Honeywell International, Inc.; Sensus; Neptune Technology Group, Inc.; Holley Metering Limited; EDMI; Circulator SA; ICSA India Limited; Badger Meter; Siemens AG; Schneider Electric SA; Landis+Gyr; Itron Inc.; and Elster Group. Inorganic growth is on the anvil.
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Leading players of Smart Meters including:
• GE Digital Energy
• Elster Group
• Silver Spring Networks
• Nuri Telecom
• Tantalus Systems
• Linyang Electronics
• Wasion Group
• Haixing Electrical
• Techrise Electronics
• Chintim Instruments
• XJ Measurement & Control Meter
• Clou Electronics
• HND Electronics
• Hengye Electronics
• Holley Metering
• Wellsun Electric Meter
Market split by Type, can be divided into:
• Single-phase smart meter
• Three-phase smart meter
Market split by Application, can be divided into:
• Residential application
• Commercial application
• Industrial application
Market split by Sales Channel, can be divided into:
• Direct Channel
• Distribution Channel
Market segment by Region/Country including:
• North America (United States, Canada and Mexico)
• Europe (Germany, UK, France, Italy, Russia and Spain etc.)
• Asia-Pacific (China, Japan, Korea, India, Australia and Southeast Asia etc.)
• South America Brazil, Argentina, Colombia and Chile etc.)
• Middle East & Africa (South Africa, Egypt, Nigeria and Saudi Arabia etc.)
Related Reports of this Category available at Million Insights: https://www.millioninsights.com/industry/consumer-electronics
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