Press release
Smart Metering Market Outlook by 2024 Top Key Players: Itron, Siemens, Honeywell International, Schneider, Osaki, Neptune Technologies, Badger Meter, Aclara, Kamstrup, Sensus, Iskraemeco, Circutor, Apator
Smart Metering Market
Implementation of fiscal incentives along with the government plans to replace the existing meters will drive the smart metering systems market size. Several countries have enforced regulatory directives to accelerate the deployment of AMI meters as a part of their energy conservation initiatives.
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Smart metering market is anticipated to witness growth owing to growing utilities number coupled with integration of advanced ICT solutions. Increasing demand for effective monitoring, utilization and measurement of renewable resources will further augment the business landscape.
UK smart metering systems market will witness growth on account of rapid technological advancement along with growing adoption of sustainable systems. Introduction of automated data management systems across the metering industry will further fuel the industry growth. The introduction of intelligent metering system forms a fundamental part of the recent government policies aiming at the environmental sustainability and energy conservation.
Smart Metering Systems Market for 2017 was over USD 10 billion and will surpass USD 21 Billion by 2024.
Growth Drivers
• Smart electric metering system
• Favourable government regulations
• Renewable energy integration to smart grid infrastructure
• Effective consumption pattern mapping
• Rising demand for renewable energy and effective transmission facilities
• Better security against electricity theft
• Smart gas metering systems
• Workforce management and operational efficiency
• Accuracy & savings in billings
• Smart water metering systems
• Non-revenue water (NRW) monitoring and control
• Emerging Intelligent sustainable water management solutions
• Accuracy & savings in billings
• Effective monitoring of consumption patterns
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The U.S. smart metering market is anticipated to reach over USD 3 Billion by 2024. Favourable measures to promote the adoption of non-conventional meters along with strict regulatory landscape to obtain energy saving will propel the business growth.
California Public Utilities Commission has authorized the investor-owned utilities to promote the deployment of intelligent meters to ensure customer control over energy consumption. CPCU authorized Southern California Edison for the installation of approximately 5.3 million smart meter units.
Australia smart metering market is set to expand over 16% by 2024. Introduction of government policies along with growing measures toward energy conservation will fuel the business growth. In December 2017, the government of Australia introduced Power of Choice reform which seeks to provide AMI meters to all electricity consumers across the region.
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Key industry participants in the smart metering market include Apator, Circutor, Iskraemco, Kamstrup, Aclara, Sensus, Neptune, Osaki, Badger Meter, Honeywell International, Schneider, Itron, Siemens, and Landis+Gyr.
Browse Related Reports:
Smart Electric Meter Market By Application, Technology, Phase and Forecasts, 2024
Notable smart electric meter market participants include Landis+Gyr, Itron, Siemens, Schneider, Honeywell International, Osaki, Badger Meter, Neptune Technologies, Aclara, Sensus, Kamstrup, Circutor, Iskraemeco and Apator.
https://www.gminsights.com/industry-analysis/smart-electric-meter-market
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