Press release
Global Smart Electric Meter Market Forecasts 2018-2024 By Major Players: Apator, Iskraemco, Circutor, Kamstrup, Sensus, Aclara, Neptune, Badger Meter, Osaki, Honeywell International, Schneider, Siemens, Itron
Smart Electric Meter Market
AMI smart electric meter market will grow on account of continuous expansion and increasing share of renewables across centralized and decentralized grid infrastructure. Rapid technological advancements coupled with growing concern toward energy conservation will strengthen the business outlook. Smart meters integrated with automated data management systems have drastically eased the assessment of consumption patterns by the user.
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Robust implementation of fiscal incentives and government mandates toward the adoption of sustainable technologies will fuel the business growth. Rising concern toward energy conservation along with rapid technological advancements to offer complete integrated metering portfolio with automated data management systems will strengthen the business outlook.
U.S. smart electric meter market is anticipated to exceed USD 1 Billion by 2024. Significant encouragement by regulators and policymakers toward the adoption of smart technologies will stimulate the business growth. As per the Residential Energy Consumption Survey conducted by the EIA in 2015, residential smart meter adoption across the U.S. stood around 40%. Furthermore, it has been analyzed that electric utilities across the country had installed over 70 million AMI meters till 2016.
Smart Electric Meter Market for 2017 was valued over USD 7 billion and will hit USD 10 Billion by 2024.
Growth Drivers:
• Favorable government regulations
• Renewable energy integration to smart grid infrastructure
• Controlled energy consumption
• Rising demand for renewable energy and effective transmission facilities
• Better security against electricity theft
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Growing measures toward energy efficient products adoption coupled with shifting trends toward digital economy will drive the UK smart electric meter market. Introduction of stringent emission norms have created competitive business scenario for the leading manufacturers to develop sustainable technologies. The UK Energy Efficiency Directive’s Article 9-11 offers rules on devices related to billing information and metering that is required to be provided to the end users.
China, in 2017 accounted for over 70% smart electric meter market share across Asia Pacific. Growing penetration of smart technologies along with shifting focus toward energy efficiency will stimulate the business growth. Asian Development Bank is supporting the sustainable use of energy and the roll-out of smart meters is the top priority in line with the adoption of renewable and smart-grid technologies. China in its 13th five-year plan introduced various smart city projects that include the installation of smart meters across water and electric networks.
Browse key industry insights spread across 511 pages with 1044 market data tables & 10 figures & charts from the report, Smart Electric Meter Market in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/smart-electric-meter-market
Major players across the industry include Iskraemco, Circutor, Apator, Kamstrup, Aclara, Neptune, Sensus, Badger Meter, Honeywell International, Osaki, Schneider, Itron, Siemens, and Landis+Gyr.
Browse Related Reports:
Smart Metering Systems Market By Application, Product and Region-Forecasts, 2024
Notable smart metering systems market participants include Itron, Landis+Gyr, Siemens, Honeywell International, Schneider, Osaki, Neptune Technologies, Badger Meter, Aclara, Kamstrup, Sensus, Iskraemeco, Circutor and Apator.
https://www.gminsights.com/industry-analysis/smart-metering-systems-market
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