Press release
Smart Electric Meter Market will be valued USD 10 Billion by 2024| By Top Key Vendors: Siemens AG, Landis+GYR, Circutor SA, Iskraemeco, Honeywell International, Badger Meter, Elster Group, Itron
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Smart Electric Meter Market size will exceed USD 10 Billion by 2024, as reported in the latest study by Global Market Insights, Inc. Robust implementation of government mandates and fiscal incentives toward the adoption of sustainable technology will drive the smart electric meter market size. Several countries have enacted distinct legislation mandating the adoption of AMI meters as a part of their comprehensive energy conservation initiatives. In March 2011, the Government of UK framed a rollout strategy and designed a policy framework for smart meters. The Smart Metering Implementation Programme is expected to achieve the installation of over 50 million smart meters by 2020.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
• Itron
• Siemens AG
• Landis+GYR
• Circutor SA
• Icsa (India) Ltd
• Iskraemeco
• Holley Metering
• Honeywell International
• Osaki Electric
• Badger Meter
• Elster Group
• Neptune Technology
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.
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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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.
Shifting trends toward an effective measurement, monitoring, and utilization of resources to limit the overall energy challenges will drive the smart electric meter market. Metering and monitoring have been the essential tools for the measurement and efficient energy management. In addition, these provide building owners & operators with the information to improve building energy performance.
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Key industry participants in the smart electric meter market include Itron, Siemens AG, Landis+GYR, Circutor SA, Icsa (India) Ltd, Iskraemeco, Holley Metering, Honeywell International, Osaki Electric, Badger Meter, Elster Group, Neptune Technology.
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About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
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