Smart Meters Market | Global Key Players – ACLARA TECHNOLOGIES, WASION GROUP HOLDINGS, ELSTER GROUP SE, JIANGSU LINYANG ENERGY, NINGBO SANXING ELECTRIC, KAMSTRUP A/S, HEXING ELECTRIC COMPANY, ITRON, HOLLEY METERING

The smart meters market was estimated at 121.488 million unit shipments in 2016 and is expected to reach 132.703 million unit shipments by 2022. The market is expected to register a CAGR of 1.86% over the forecast period (2018 - 2023). The report covers smart metering used for gas, water, and electricity.
There is a rising pressure on conserving natural resources, government regulations on the usage of water, electricity, and gas coupled with the advancements in metering technologies have buoyed the smart meters market over the forecast period. However, the lack of capital investments for infrastructure installation and the lack of return on investments on these installations are expected to hinder the market growth.

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Billing Accuracy and Customer Convenience
Smart meters have a major role to play in reducing utility theft and safeguarding utility revenues which acts as powerful drivers. For instance, in the case of smart water meters, non-revenue water (NRW) is usually accounted for through theft and leakage. Any water pumped by the water utility that does not come back as revenue is categorized under NRW. Until the optimal NRW is reached (should be below 25% according to World Bank) a utility suffers from inferior revenue, infrastructure damage, illegal tapping, poor resource management & service, higher energy bills, and potential loss of pressure, among other factors. Thus, employing smart water meters as the endpoints in a water utility system can act as the building blocks in any comprehensive strategy to improve NRW levels and understand the water network while also reducing the labor costs. The same strategy can be incorporated for the electricity and gas utilities as well. All these benefits of employing smart meters coupled with the need for sustainable consumption of resources have driven to their usage across the globe.

Key Developments in the Market
• November 2017- Diehl Metering became the first company to integrate its metering systems for automatic reading solutions for water, thermal energy, and gas meters with NEC CCOC platform. The NEC Europe will present the key features of its Smart City Platform (CCOC) of Europe. The collaboration of the two aims to support the European operator's decision-making of automating tasks and facilitating the correct choice of strategic decisions in the long term.
• July 2017 - Sagemcom SAS acquired Meter Italia S.P.A that manufactures traditional and smart residential gas meter as well as a range of industrial gas meters through its subsidiary Sagemcom Energy & Telecom SAS. Through the acquisition of Meter Italia, Sagemcom aims to establish itself and actively participate in the growth of the gas metering market, particularly in the European, Middle East & Africa regions. The company also expects to combine its competencies with Meter Italia to address technological advancements in multi-energy metering.

The major players includes –
LANDIS+GYR INC., ACLARA TECHNOLOGIES LLC, WASION GROUP HOLDINGS, ELSTER GROUP SE, JIANGSU LINYANG ENERGY CO. LTD, NINGBO SANXING ELECTRIC CO. LTD, KAMSTRUP A/S, HEXING ELECTRIC COMPANY LTD, ITRON INC., HOLLEY METERING LIMITED, SENSUS USA INC., SHENZHEN HEMEI GROUP CO. LTD, GENERAL ELECTRIC LTD, DIEHL STIFTUNG & CO. KG, HANGZHOU BETA GAS METERS CO. LTD, PIETRO FIORENTINI, SAGEMCOM SAS, APATOR S.A, amongst others.

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Smart Water Meters Hold A Major Market Share
There is an increasing pressure on water utilities due to the growing demand, increasing water stress, rising energy prices, and aging water systems, the smart water network solutions have emerged with significant benefits by combining advanced metering technology, software, and effective communications systems. The integration of the said components enables the end users to account for every drop and turn water into revenue through enhanced leak detection and unparalleled data acquisition. The critical need for optimized consumption of water in water-scarce areas is driving the deployment of smart water meters. For instance, according to a report by World Water Development Report, 480 million people in Asia alone will face water scarcity in the future. Among the countries likely to run short of water in the next 25 years are Ethiopia, India, Kenya, Nigeria, and Peru. Moreover, approximately 500 million people live in areas where water consumption exceeds the locally renewable water resources by a factor of two. Owing to these concerns, there is an increasing necessity to monitor water usage which will subsequently result in the increasing adoption of smart water meters. Further, the population of developed countries has reached a plateau, while the population in the developing countries, like India, is increasing and is predicted to surge. The number of households is increasing leading to an increase in the number of water connections which is also expected to drive the growth of smart water meters.

Europe Holds Major Market Share
Although the population growth in this region has slowed down gradually over the last few decades, the number of single households continues to witness a steep rise, thereby, creating a significant spike in the demand of water. This coupled with the climate change is putting a pressure on the water resources. The UK government mandate states that energy suppliers need to install smart meters in 26 million homes, with the aim that every household in England, Wales, and Scotland, to have a smart meter by 2020. The accelerating smart meter roll-out and the growing awareness of the energy crisis have been identified as the major factors influencing the growth of smart meter market in the United Kingdom. On the other hand, The Federal Council of Germany permitted the implementation of a new law to support the country’s nationwide rollout of smart meters, this new policy is based on the EU legislative Third Internal Market Package which states that all the EU member states equip 80% of their consumers with smart meters by 2020. All these factors are expected to drive the smart meter market in the European region.

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