Dublin, July 17, 2019 (GLOBE NEWSWIRE) -- The "Global Smart Meters Market By Type (Smart Energy Meters, Smart Water Meters & Smart Gas Meters), By Technology (Automatic Meter Reading & Advanced Metering Infrastructure), By Application, By Region, Competition, Forecast & Opportunities, 2024" report has been added to ResearchAndMarkets.com's offering.
The global smart meters market stood at $ 8.6 billion in 2018 and is projected to grow at a CAGR of over 7% to reach $ 1.2 billion by 2024, backed by increasing upgrades of transmission & distribution infrastructure and rising investments in smart grid projects.
Smart meter is an electronic device that records the consumption of electric energy and communicates the information to electricity suppliers for monitoring and billing. Smart meters typically record energy hourly or more frequently, and report at least daily. Growing pressure on conserving natural resources and government regulations on the use of water, electricity and gas coupled with the advancements in metering technologies are expected to positively influence the global smart meters market during the forecast period.
In terms of application, the global smart meters market has been categorized into residential, commercial and industrial segments. Among the applications, the residential category accounted for a significant portion of the global smart meters market in 2018 and the trend is likely to continue in coming years, owing to increasing residential construction activities and government mandates such as the European Union 20-20-20 policy, which aims to convert 80% of the installed meter base to smart one.
Regionally, the Asia-Pacific smart meters market captured a significant portion of the global smart meters market in 2018. The market for smart meters is booming in the region, majorly due to the huge demand of smart meters in countries like China, India and Japan. The country is focusing on upgrading and replacing outdated infrastructure, enabling grid reliability, and installing smarter power networks. The factor responsible for this demand in Asia-Pacific is conducive government initiatives, including proper allocation of funds and making smart meters mandatory in many countries.
The intensity of rivalry in the smart meters market is moderate. Most of the major vendors in the industry is actively focusing on research & development to enhance quality of existing and upcoming digital meters. They are also focusing on product launch and partnerships to enhance product features and expand their consumer base across the globe.
Key players in the global smart meters market are Landis+Gyr, Itron, Hubbel Incorporated, Honeywell International Inc., Xylem Inc., among others.
Years considered for this report:
- Historical Years: 2014-2017
- Base Year: 2018
- Estimated Year: 2019
- Forecast Period: 2020-2024
Key Target Audience:
- Smart meter manufacturers, suppliers, distributors and other stakeholders
- Smart meter end-user industries
- Organizations, forums and alliances related to smart meters market
- Government bodies such as regulating authorities and policy makers
- Market research and consulting firms
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Voice of Customer
4.1. Factors considered while selecting a supplier
4.2. Product awareness and applicability & usage analysis
4.3. Challenges/issues faced post purchase
4.4. Unmet needs
5. Global Smart Meters Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value & Volume
5.2. Market Share & Forecast
5.2.1. By Type (Smart Energy Meters; Smart Water Meters; Smart Gas Meters)
5.2.2. By Technology (Automatic Meter Reading; Advanced Metering Infrastructure)
5.2.3. By Application (Residential; Commercial; Industrial)
5.2.4. By Region (Asia-Pacific; North America; Europe; South America; Middle East & Africa)
5.2.5. By Company (2018)
5.3. Market Attractiveness Index (By Type; By Technology; By Application; By Region)
6. Asia-Pacific Smart Meters Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Type
6.2.2. By Technology
6.2.3. By Application
6.2.4. By Country
6.3. China Smart Meters Market Outlook
6.3.1. Market Size & Forecast
6.3.1.1. By Value
6.3.2. Market Share & Forecast
6.3.2.1. By Type
6.3.2.2. By Technology
6.3.2.3. By Application
6.4. Japan Smart Meters Market Outlook
6.5. India Smart Meters Market Outlook
6.6. South Korea Smart Meters Market Outlook
6.7. Australia Smart Meters Market Outlook
6.8. Thailand Smart Meters Market Outlook
6.9. Malaysia Smart Meters Market Outlook
7. North America Smart Meters Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Type
7.2.2. By Technology
7.2.3. By Application
7.2.4. By Country
7.3. United States Smart Meters Market Outlook
7.3.1. Market Size & Forecast
7.3.1.1. By Value
7.3.2. Market Share & Forecast
7.3.2.1. By Type
7.3.2.2. By Technology
7.3.2.3. By Application
7.4. Canada Smart Meters Market Outlook
7.5. Mexico Smart Meters Market Outlook
8. Europe Smart Meters 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 Technology
8.2.3. By Application
8.2.4. By Country
8.3. Germany Smart Meters Market Outlook
8.3.1. Market Size & Forecast
8.3.1.1. By Value
8.3.2. Market Share & Forecast
8.3.2.1. By Type
8.3.2.2. By Technology
8.3.2.3. By Application
8.4. France Smart Meters Market Outlook
8.5. United Kingdom Smart Meters Market Outlook
8.6. Spain Smart Meters Market Outlook
8.7. Italy Smart Meters Market Outlook
9. South America Smart Meters 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 Technology
9.2.3. By Application
9.2.4. By Country
9.3. Brazil Smart Meters Market Outlook
9.3.1. Market Size & Forecast
9.3.1.1. By Value
9.3.2. Market Share & Forecast
9.3.2.1. By Type
9.3.2.2. By Technology
9.3.2.3. By Application
9.4. Argentina Smart Meters Market Outlook
9.5. Colombia Smart Meters Market Outlook
10. Middle East & Africa Smart Meters 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 Technology
10.2.3. By Application
10.2.4. By Country
10.3. Saudi Arabia Smart Meters Market Outlook
10.3.1. Market Size & Forecast
10.3.1.1. By Value
10.3.2. Market Share & Forecast
10.3.2.1. By Type
10.3.2.2. By Technology
10.3.2.3. By Application
10.4. South Africa Smart Meters Market Outlook
10.5. UAE Smart Meters Market Outlook
10.6. Iran Smart Meters Market Outlook
11. Market Dynamics
11.1. Drivers
11.2. Challenges
12. Market Trends & Developments
13. Competitive Landscape
13.1. Competition Outlook
13.2. Company Profiles
13.2.1. Basic Details
13.2.2. Financials (As reported)
13.2.3. Supply Chain Analysis
13.2.4. Key Market Focus and Geographical Presence
13.2.5. Planned Investments
13.2.6. Pricing of Target Products
13.2.7. Market positioning
13.3. Global Players Profiled (Leading Companies)
13.3.1 Landis+Gyr
13.3.2 Itron, Inc.
13.3.3 Honeywell International Inc.
13.3.4 Xylem Inc.
13.3.5 Hubbel Incorporated
13.3.6 Siemens AG
13.3.7 Badger Meter, Inc.
13.3.8 Holley Metering, Limited
13.3.9 Aclara Technologies, LLC
13.3.10 Kamstrup A/S
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