Dublin, Jan. 07, 2021 (GLOBE NEWSWIRE) -- The "Global Smart Meter Market By Product (Smart Electric Meters, Smart Water Meters, and Smart Gas Meters), By End User (Residential, Commercial and Industrial), By Region, Industry Analysis and Forecast, 2020 - 2026" report has been added to ResearchAndMarkets.com's offering.
The Global Smart Meter Market size is expected to reach $38 billion by 2026, rising at a market growth of 11.1% CAGR during the forecast period. Smart meters are referred to as electronic devices that precisely track electricity, gas, and water utilization. Usage information can be sent by these smart meters via power line communication, radiofrequency electromagnetic radiation (RF), and cellular communication, assisting the utility company to successfully manage the use of energy. A lot of advantages are provided by smart meters such as decreasing meter reading cost, preventing disconnection, reducing errors in billing, and re-connection cost to consumers and corporations.
Smart electricity metering systems are utilized to reduce the demand for peak electricity and permit end-users to smoothly track power consumption and decrease it accordingly. Energy suppliers use these devices to maximum advantages by aligning their advantages of a decrease in reaction time to solve hardware inefficiencies and power outages and providing enhanced customer service delivery because of remote reading conveniences. For the reason that energy production utilizing renewable methods differs with time, low power production finally results in unstable energy productivity.
Nonetheless, utilizing the metering device assists with repaying for this loss by managing the consumption of energy of numerous electronic devices because it is capable of controlling irregular supply. Numerous smart meters rollout policies in various regions like beneficial government initiatives being taken in nations that include U.S and U.K. are helping the deploying of these devices, which is anticipated to assume a significant role in the growth of the industry.
By Product
Based on Product, the market is segmented into Smart Electric Meters, Smart Water Meters, and Smart Gas Meters. In 2019, the market was dominated by the electricity meter segment in terms of revenue and is expected to continue the same trend during the forecast period. The introduction of beneficial regulatory policies to substitute traditional meters with intelligent metering systems to successfully track and govern power consumption will benefit the industry outlook. Furthermore, growing investments by private and public players for the installation of the smart grid will positively impact the business scenario.
By End User
Based on End User, the market is segmented into Residential, Commercial and Industrial. The Residential segment has generated maximum revenue in 2019. Progressing industrialization combined with economic growth and rising urbanization will boost the growth of the market. The considerable advancement in living standards in terms of increasing per capita income has moved consumer focus towards the acceptance of advanced technologies. Moreover, strict government norms towards the expansion of existing grid infrastructure and decreasing power theft will support the demand of the demand.
By Region
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. The Asia Pacific is the biggest market for smart meters in the world, mainly because of China, and the trend is anticipated to continue during the forecast period. The regional market is boosted by the increasing importance to decrease carbon emissions from utility operations and successfully incorporate DER such as wind and solar power for improved power sector operations.
The major strategies followed by the market participants are Product Launches and Partnerships. Based on the Analysis presented in the Cardinal matrix; Siemens AG, Schneider Electric SE, and Honeywell International, Inc. are the forerunners in the Smart Meter Market. Companies such as Itron, Inc., Landis+Gyr Group AG, Badger Meter, Inc., Xylem, Inc., General Electric (GE) Co., and Neptune Technology Group, Inc. are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Schneider Electric SE, Siemens AG, General Electric (GE) Co., Honeywell International, Inc., Xylem, Inc. (Sensus), Badger Meter, Inc., Landis+Gyr Group AG, Itron, Inc., Neptune Technology Group, Inc. (Roper Technologies, Inc.) and Holley Technology Ltd.
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Key Topics Covered:
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Global Smart Meter Market, by Product
1.4.2 Global Smart Meter Market, by End User
1.4.3 Global Smart Meter Market, by Geography
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.2 Executive Summary
2.1.3 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Geographical Expansions
3.2.4 Acquisition and Mergers
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2016-2020)
3.3.2 Key Strategic Move: (Partnerships, Collaborations, and Agreements : 2016, Feb - 2020, Oct) Leading Players
Chapter 4. Global Smart Meter Market by Product
4.1 Global Smart Meter Smart Electric Meters Market by Region
4.2 Global Smart Meter Smart Water Meters Market by Region
4.3 Global Smart Meter Smart Gas Meters Market by Region
Chapter 5. Global Smart Meter Market by End Use
5.1 Global Residential Smart Meter Market by Region
5.2 Global Commercial Smart Meter Market by Region
5.3 Global Industrial Smart Meter Market by Region
Chapter 6. Global Smart Meter Market by Region
6.1 North America Smart Meter Market
6.2 Europe Smart Meter Market
6.3 Asia Pacific Smart Meter Market
6.4 LAMEA Smart Meter Market
Chapter 7. Company Profiles
7.1 Schneider Electric SE
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Segmental And Regional Analysis
7.1.4 Research & Development Expense
7.1.5 Recent strategies and developments
7.1.5.1 Partnerships, Collaborations, and Agreements
7.1.5.2 Acquisition and Mergers
7.1.5.3 Product Launches and Product Expansions
7.1.6 SWOT Analysis
7.2 Siemens AG
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Segmental and Regional Analysis
7.2.4 Research & Development Expense
7.2.5 Recent strategies and developments
7.2.5.1 Partnerships, Collaborations, and Agreements
7.2.5.2 Product Launches and Product Expansions
7.2.6 SWOT Analysis
7.3 General Electric (GE) Co.
7.3.1 Company Overview
7.3.2 Financial Analysis
7.3.3 Segmental and Regional Analysis
7.3.4 Research & Development Expense
7.3.5 Recent strategies and developments
7.3.5.1 Partnerships, Collaborations, and Agreements
7.3.6 SWOT Analysis
7.4 Honeywell International, Inc.
7.4.1 Company Overview
7.4.2 Financial Analysis
7.4.3 Regional & Segmental Analysis
7.4.4 Research & Development Expenses
7.4.5 Recent strategies and developments
7.4.5.1 Partnerships, Collaborations, and Agreements
7.4.6 SWOT Analysis
7.5 Xylem, Inc. (Sensus)
7.5.1 Company Overview
7.5.2 Financial Analysis
7.5.3 Segmental and Regional Analysis
7.5.4 Research & Development Expense
7.5.5 Recent strategies and developments
7.5.5.1 Partnerships, Collaborations, and Agreements
7.5.5.2 Geographical Expansions
7.6 Badger Meter, Inc.
7.6.1 Company Overview
7.6.2 Financial Analysis
7.6.3 Regional Analysis
7.6.4 Research & Development Expense
7.6.5 Recent strategies and developments
7.6.5.1 Acquisition and Mergers
7.6.5.2 Product Launches and Product Expansions
7.7 Landis+Gyr Group AG
7.7.1 Company Overview
7.7.2 Financial Analysis
7.7.3 Regional Analysis
7.7.4 Research and Development Expense
7.7.5 Recent strategies and developments
7.7.5.1 Partnerships, Collaborations, and Agreements
7.7.5.2 Product Launches and Product Expansions
7.8 Itron, Inc.
7.8.1 Company Overview
7.8.2 Financial Analysis
7.8.3 Segmental and Regional Analysis
7.8.4 Research & Development Expense
7.8.5 Recent strategies and developments
7.8.5.1 Partnerships, Collaborations, and Agreements
7.8.5.2 Acquisition and Mergers
7.8.5.3 Product Launches and Product Expansions
7.9 Neptune Technology Group, Inc. (Roper Technologies, Inc.)
7.9.1 Company Overview
7.9.2 Recent strategies and developments
7.9.2.1 Partnerships, Collaborations, and Agreements
7.10. Holley Technology Ltd.
7.10.1 Company Overview
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