Press release
Smart Metering Systems Market Analysis Focusing on Top Key Players – Siemens, Honeywell International, Schneider, Osaki, Neptune Technologies, Itron, Landis+Gyr, Badger Meter, Aclara, Kamstrup, Sensus, Iskraemeco, Circutor, Apator
With the rising demand for energy and the need for its efficient management, the smart metering systems market has observed a commendable growth, especially on account of the product’s widespread application in monitoring the consumption of utilities like electricity, gas and water supply. Smart meters greatly improve the sensory capabilities in the energy transfer lines and provide real-time data to the utility companies for regulating price changes based on factors like peak demand. Residential users enjoy the benefit of getting a better feedback about their usage patterns, allowing them to adjust their consumption habits for saving energy and lowering their bills. Increasing adoption of sustainable energy into the overall energy mix across developing nations has propagated the installation of smart meters in residential settings. Smart Metering Systems Market is predicted to exceed USD 21 billion by 2024.
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AMI smart metering systems market is anticipated to witness gain over 10% by 2024. Growing adoption of automation systems across energy sector to ensure load management, customer service improvement and energy conservation will enhance the product penetration. The product enables the end users to provide real time information regarding the energy utilization and execute consumption decision.
The U.S. smart metering systems 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.
AMR smart metering systems market is anticipated to witness growth owing to its ability to transfer energy consumption data from users to utilities and lower cost index. Shorter installation time, immediate fault detection and remote access are some of the prominent features which will enhance the product penetration. Increasing spending toward renewable energy and smart grid network coupled with growing deployment of IT enabled systems will further drive the business landscape.
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Australia smart metering systems Market is projected to grow over 16% by 2024. Favorable measures coupled with government policies toward energy conservation will stimulate the industry landscape. In 2017, Power of Choice reform introduced by the government of Australia to provide AMI to end users across the country.
Smart metering systems 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.
Eminent players across the smart metering systems market include Iskraemco, Sensus, Badger Meter, Itron, Landis+Gyr, Apator, Kamstrup, Osaki, Schneider, Siemens, Circutor, Honeywell International, Neptune and Aclara.
Table of Contents
Chapter 1. Methodology & Scope
Chapter 2. Executive Summary
Chapter 3. Smart Metering Systems Industry Insights
Chapter 4. Smart Metering Systems Market, By Application
Chapter 5. Smart Metering Systems Market, By Product
Chapter 6. Smart Metering Systems Market, By Technology
Chapter 7. Smart Metering Systems Market, By Region
Chapter 8. Smart Metering Systems Market, Company Profiles
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