Smart Electricity Meter Market to expand at a CAGR of 33.53% to reach $15 billion in 2024
This report provides forecast and analysis of the smart electricity meter market which is estimated to grow at an impressive CAGR of 33.53% over the forecast period 2019-2024. The market is expected to propel at a fast pace on account of favorable government policies and an increase in investments in smart grid projects worldwide. Additionally, growing up-gradation of the infrastructure is further strengthening the growth of the global smart electricity meter market during the forecast period and in the coming years. Also, smart electricity meters offer certain benefits over the traditional ones, for example, cost-cutting in meter reading and better efficiency. Furthermore, growing investments in smart home projects are further driving the market growth in the forecast period and in the coming years. Moreover, the growing demand for smart electricity meters owing to the need for a reduction in the wastage of electricity is further fueling the market demand. Geographically, North America is expected to hold a significant market share followed by the Asia Pacific region to be the fastest-growing. However, the high cost of installation of smart meters in addition to lack of awareness regarding the smart electricity meters may hamper the market growth in the forecast period.
Some of the major players covered as part of the report are EDMI Limited, Elster Group GmbH (part of Honeywell), Microstar Electric Company Limited, ZPA Smart Energy, and Holley Technology UK Ltd among others.
This report segmented the smart electricity meter market on the basis following terms:
• By End User
• By Geography
o North America
o South America
o Middle East and Africa
o Asia Pacific
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Knowledge Sourcing Intelligence (KSI) is a market research and consulting firm publishing market research studies spanning across ten industry verticals. KSI has a team of experienced and young professionals with a singular focus on delivering high-quality research services to enterprises, non-government organizations, government agencies, and research institutes and organizations. We publish hundreds of reports per year centring on niche and latest technologies. We engage with key decision makers and stakeholders across the value chain to provide clients with a detailed analysis and bird’s-eye view of the market with complete market dynamics, statistical forecasts, competitive analysis, key trends, market drivers and challenges and strategic recommendations for making informed decisions. Our success lies in the effort of our analysts who strive to meet client expectations by delivering quality work within the stipulated deadlines.
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