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Smart Metering Systems Market Dominated by AMI Technology Registering 19 Billion by 2024

04-19-2018 01:26 PM CET | Energy & Environment

Press release from: Market Study Report

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Smart Metering Systems Market Dominated by AMI Technology

MarketStudyReport.com Adds New "Smart Metering Systems Market" research report providing information and data By Product, By Application, Industry Analysis, Regional Outlook, Growth Potential, Trends, Competitive Market Share & Forecast spreading across 250 Pages with table and figures in it.
Smart Metering Systems Market size will exceed over USD 38 billion by 2024; per a new research report published on Market Study Report.

Increasing need for accurate billing and consumption pattern mapping coupled with rising prices of resources including water, electricity and gas will drive the global smart metering systems market size by 2024. Scarcity of available resources has laid emphasis on reducing wastage and controlling emission levels.

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Stringent regulations towards energy management coupled with measures towards effective resource utilization will propel demand. The Energy Independence Act (EISA) of 2007 mandates the modernization of the U.S. electric grids, installation of smart electric systems in every household and grants government funding for grid development projects.

Smart metering systems market size for 2015 from residential applications was over USD 5 billion and is set to witness strong growth owing to its reasonable pricing and increasing awareness among customers. Commercial applications in terms of volume are predicted to surpass 250 million units over the forecast timeframe due to rising prices of available energy resources.

Smart metering systems market share for 2015 from water is set to grow over 10% on account of stringent regulations for controlling Non-Revenue Water (NRW). Electric applications were valued over USD 4 billion in 2015 and is predicted to witness handsome growth owing to stringent government regulation to curb electricity theft.

AMI is set to exceed USD 19 billion by 2024. Adoption of AMI are low subject to its high acquisition and installation costs. AMR is predicted to grow over 13% over the forecast timeline owing to its wide adoption and mature technology.

The 2015 U.S. smart metering systems market size was valued over USD 5 billion and is set to witness high gain on account of strict norms towards energy management and accurate billing. Growing measures towards energy conservation and efficiency will further boost the industry growth.

For Europe, UK smart metering systems market share is predicted to grow over 16% by 2024. Government of United Kingdom initiated the National Smart Meter Roll Out programme which aims at installing smart systems in every home in England, Scotland and Wales by 2020. Recommendation 2012/148/EU mandates increasing adoption of these products coupled with large-scale roll out in regions with positive cost benefit results.

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China smart metering systems market size is forecast to exceed USD 9 billion by 2024. The State Grid Corporation of China has aimed to install more than 380 million smart systems by 2020 in line with the government plan.

For MEA, Lebanon could grow over 9% during the forecast period. In 2014, Electricité Du Liban (EDL) announced a plan to roll out more than 1 million of these products as part of a USD 200 million programme to overhaul the existing technology and provide accurate billing service.

Mexico smart metering systems market share in terms of volume is set to exceed 6 million units by 2024. In 2016, state-owned Comision Federal de Electricidad (CFE) awarded a contract for a roll out of 96,000 advanced meters in the region, positively influencing the business outlook.

Key industry participants include Landis+GYR, Siemens AG, Itron, Circutor, Schneider Electric, Osaki Electric, Iskraemeco, Icsa and others.

Smart metering systems market research report includes in-depth coverage of the industry with estimates &forecast in terms of volume (Million Units) and revenue in USD Billion from 2013 to 2024, for the following segments:

Global Smart Metering Systems Market, By Application
• Residential
• Commercial
• Utility

Global Smart Metering Systems Market, By Product
• Smart electricity meters
• Smart water meters
• Smart gas meters

Global Smart Metering Systems Market, By Technology
• AMI
• AMR

The above information is provided on a regional and country basis for the following

• North America: U.S., Canada,
• Europe: Germany, Italy, France, UK, Sweden, Portugal
• Asia Pacific: China, India, South Korea, Japan, Australia
• Middle East & Africa: Saudi Arabia, South Africa, UAE, Lebanon, Egypt
• Latin America: Mexico, Brazil, Uruguay, Argentina

Get a discount on this research report at: https://www.marketstudyreport.com/check-for-discount/467582/?utm_source=hatena=CC

Related Report:

Smart Gas Metering Systems Market Size By Application, By Technology, Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2017-2024

Smart Gas Metering Systems Market is set to exceed USD 9 Billion by 2024. Stringent government initiatives toward energy conservation coupled with obligatory nationwide rollout programmes pertaining to ecological sustainability will boost the smart gas metering systems market. Continual need for billing precision coupled with enhanced customer experience will further stimulate the industry growth. The Smart Metering Implementation Programme (SMIP) started by the UK government aims at replacing 53 million smart meters by the year 2020 in over 30 million residential establishments. The implementation programme aims at efficient energy utilization and rearrangement of the energy supply system.

Read more on this research at: https://www.marketstudyreport.com/reports/smart-gas-metering-systems-market/?utm_source=hatenaRR=CC

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