Smart Electric Meter Market Size, Share, Revenue And Growth Rate Till 2026 | Fortune Business Insigh

Smart Electric Meter Market Size, Share and Global Trend By Type (Single Phase, Three Phase), By Communication Technology (Power Line Communication (PLC), Wireless Communication, Cellular), By End User (Residential, Commercial, Industrial) and Geography Forecast till 2026 Sample PDF

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Published Date: Oct 2019

Region: Global

Report Format: PDF

Base Year: 2018

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Smart Electric Meter Market Size, Share and Global Trend By Type (Single Phase, Three Phase), By Communication Technology (Power Line Communication (PLC), Wireless Communication, Cellular), By End User (Residential, Commercial, Industrial) and Geography Forecast till 2026 Report Highlights: The global smart electric meters market is anticipated to reach USD 30.19 Billion by 2026. Electricity plays a crucial role in the energy and power industry. The rising need to maintain data with an aim to avoid any unaccounted consumption is fueling demand for smart electric meters. These meters help to enhance the efficiency of power networks as they are fully digitized and involves measuring and collecting data. These meters act as strong pillars behind the intelligence power grids.

Now, companies are developing smart electric meters that can not only collect data rather gather it for consumption billing.

Such factors have compelled consumers to replace their traditional meters with smart and advanced electric meters. These new electric meters can monitor the electricity consumption on a daily or monthly basis and directly sends the meter readings to the company. There is no manual operational activity involved in either producing a bill or noting the readings.

Spurred by this advantage, the smart electric meters market is expected to grow at a promising rate in the forthcoming years. As compared to traditional electric meters, smart meters maintain transparency with regards to bill generation between consumers and electric companies. Owing to the rising adoption of renewable energies such as wind and solar energy, the smart electric meters are penetrating into developing as well as developed nations.

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Smart Electric Meter Market Size, Share and Global Trend By Type (Single Phase, Three Phase), By Communication Technology (Power Line Communication (PLC), Wireless Communication, Cellular), By End User (Residential, Commercial, Industrial) and Geography Forecast till 2026 Adoption of Smart Electric Meters to Overcome the Rising Concern on Energy Consumption The rising demand rather needs for electricity along with the increasing population withy rural electrification has led to the increasing process of electricity across several countries. Smart electric meters offer numerous advantages to electric companies which include real-time data to avoid power outages, instant and precise monitoring of the system, and reduction of electricity cost as per demand. These smart meters offer advantages to customers by providing them constant feedback on the usage of electricity, reducing system failures or blackouts, and enables automatic adjustment of power usage to control high-priced bills. Considering the concerns regarding high energy consumption, the adoption of smart electric meters is expected to augment by 2026. Smart electric meters enable two-way communication between the system and consumer through new technologies such as General Packet Radio Service (GPRS). This further helps to save energy and eventually result in reducing energy emissions. Another major trend observed in this market is that people are shifting towards moving the concept of smart homes. This has led to the emergence of automatically controlling the light, energy, and electricity to avoid energy wastage. Therefore, the demand for smart electric meters in increasing at a remarkable rate.

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Smart Electric Meter Market Size, Share and Global Trend By Type (Single Phase, Three Phase), By Communication Technology (Power Line Communication (PLC), Wireless Communication, Cellular), By End User (Residential, Commercial, Industrial) and Geography Forecast till 2026 Top Players Mentioned: • • • • • • • • • • • •

GE Secure Meters Limited Itron, Inc. Landis+Gyr Kamstrup ZPA Smart Energy Siemens Xylem Inc. ABB Holley Technology Ltd Xemex EDMI Limited

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Smart Electric Meter Market Size, Share and Global Trend By Type (Single Phase, Three Phase), By Communication Technology (Power Line Communication (PLC), Wireless Communication, Cellular), By End User (Residential, Commercial, Industrial) and Geography Forecast till 2026 About Us: Fortune Business Insights offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

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