Press release
Smart Electric Meter Market to Grow Progressively; GE, Secure Meter Limited, Itron, Inc, Landis+Gyr, Kamstrup, ZPA Smart Energy, Siemens, Xylem Inc, ABB, Holley Technology Ltd, Jabil, Honeywell, Xemex, EDMI Limited
This type of a meter is a device equipped with advanced technologies such as smart software and cloud computing to monitor electricity consumption. The rising demand for electricity among commercial and residential buildings fuels the product's demand. Its rising adoption in smart cities is likely to increase sales. For example, India commenced its 'Smart City Mission' to transform the country's urban landscape in 2015. The investments in the initiative reached USD 28.31 billion in 2020, and approximately 5,331 projects worth USD 24.31 billion were successfully tendered. In 2020, nearly 2,122 projects valued at USD 4.83 billion were accomplished, and 4,540 orders valuing USD 19.33 billion were issued. These factors are likely to fuel the market growth during the forthcoming period.
Request To Sample PDF Brochure: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/smart-electric-meter-market-100749
Impact of COVID-19
Lockdown Restrictions and Raw Material Shortage to Impede Market Growth
This market is expected to be negatively affected during the COVID-19 pandemic because of the restrictions imposed during the lockdown. The sudden spike in COVID-19 patients has provoked governments to impose stringent restrictions. The lack of raw material due to transport restrictions and the closure of industries may negatively affect the market's progress. Restrictions on construction activities and manufacturing are negatively affecting the product's sales. However, the adoption of reduced capacities, advanced sanitization methods, part-time shifts, and the adoption of production machinery is likely to fuel demand. These factors are likely to influence the market's growth during the pandemic.
Click here to get the short-term and long-term impact of COVID-19 on this market. Please visit: https://www.fortunebusinessinsights.com/industry-reports/smart-electric-meter-market-100749
Segments
By type, the market is segmented into auto meter reading and advanced metering infrastructure. Based on application, it is classified into industrial, commercial, residential, and others. Regionally, it is grouped into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Report Coverage
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.
Drivers and Restraints
Cost Benefits and Operational Efficiency of Smart Meter to Fuel Market Growth
The smart electric meter enables users to gain sufficient electricity and save costs generated by electricity consumption. It saves electricity consumption and enables electric companies to eliminate monthly manual reading, lower electricity costs, provide real-time data to avoid power outages, and instantly monitor the system. Further, it provides significant advantages to consumers by providing easy user controls and tracking electricity consumption. The increasing awareness regarding the product's benefits among consumers is expected to boost its demand. Additionally, the rising awareness regarding renewable energy is expected to attract consumer demand. These factors are likely to drive the smart electric meter market growth.
However, high deployment costs regarding smart meters are likely to hinder the market's progress.
Regional Insights
Rising Adoption of Smart Meters to Boost Market Growth in Asia-Pacific
Asia-Pacific is expected to dominate the smart electric meter market share because of the rising adoption of such meters for minimizing unaccounted electricity loss. The market in Asia pacific stood at USD 10.82 billion in 2020 and is projected to grow significantly during the upcoming years. Further, the introduction of tariff plans customized as per customer's usage is likely to fuel smart electric meter's demand. The adoption of direct communication between customers and companies and the remarkable meter deployment in China is expected to fuel market growth.
In North America, the adoption of smart electric meters over regular meters is likely to fuel its demand. In addition, the increasing product sales and adoption of better solutions among consumers are expected to fuel market growth.
In Europe, the rising adoption of renewable energy resources is likely to fuel smart meters' demand. The installation of grids and the advantages of smart meters over traditional meters may boost the market's growth.
Ask for Customization: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/smart-electric-meter-market-100749
Competitive Landscape
Prominent Companies Incorporate Innovative Features to Boost Brand Image
Prominent companies operating in the market incorporate innovative features to provide excellent products to consumers and boost their brand image. For example, Honeywell incorporated Verizon LTE Managed Connectivity to develop smart grid solutions in January 2020. It allows companies to provide customers with an excellent wireless platform and IoT communication capability. This strategy may enable the company to boost its brand image globally. Additionally, incorporating research and development allows companies to tackle shortcomings and incorporate essential features to attract consumers.
Industry Development
March 2021: Itron Inc. announced smart residential meters developed for utilities and German cities. It complements Germany's low carbon energy trade alongside an affordable and reliable power supply.
Quick Buy – https://www.fortunebusinessinsights.com/checkout-page/100749
Table Of Content
Introduction
Research Scope
Market Segmentation
Research Methodology
Definitions and Assumptions
Executive Summary
Market Dynamics
Market Drivers
Market Restraints
Market Opportunities
Key Insights
Key Emerging Trends
Latest Technological Advancement
Regulatory Landscape
Porters Five Forces Analysis
Qualitative Analysis – Impact of COVID-19
Impact of COVID-19 on the Smart Electric Meter Market
Steps Taken by the Government to Overcome the Impact
Key Developments by Industry Players in Response to COVID-19
Potential Opportunities and Challenges due to COVID-19 Outbreak
Global Smart Electric Meter Market Analysis (USD Billion), Insights and Forecast, 2017-2028
Key Findings / Summary
Market Analysis, Insights and Forecast – By Type
Advanced Metering Infrastructure
Auto Meter Readings
Market Analysis, Insights and Forecast – By Application
Residential
Commercial
Industrial
Others
Market Analysis, Insights and Forecast – By Region
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
North America Smart Electric Meter Market Analysis (USD Billion), Insights and Forecast, 2017-2028
Key Findings / Summary
Market Analysis, Insights and Forecast – By Type
Advanced Metering Infrastructure
Auto Meter Readings
Market Analysis, Insights and Forecast – By Application
Residential
Commercial
Industrial
Others
Market Analysis, Insights and Forecast – By Country
U.S. Market Analysis and Forecast – By Type
Advanced Metering Infrastructure
Auto Meter Readings
Canada Market Analysis and Forecast – By Type
Advanced Metering Infrastructure
Auto Meter Readings
TOC Continued…!
Speak To Our Analyst- https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/smart-electric-meter-market-100749
𝐂𝐨𝐧𝐭𝐚𝐜𝐭:
Name: Ashwin Arora
Email: sales@fortunebusinessinsights.com
Phone: US +1 424 253 0390 / UK +44 2071 939123 / APAC: +91 744 740 1245
𝐀𝐛𝐨𝐮𝐭 𝐔𝐬
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Smart Electric Meter Market to Grow Progressively; GE, Secure Meter Limited, Itron, Inc, Landis+Gyr, Kamstrup, ZPA Smart Energy, Siemens, Xylem Inc, ABB, Holley Technology Ltd, Jabil, Honeywell, Xemex, EDMI Limited here
News-ID: 2539942 • Views: …
More Releases from Fortune Business Insights™
World Environment Day 2023: How Saving Water Can Help Us Save The Environment
Wastewater comes from homes, businesses, industrial sites and farms, as well as any stormwater or groundwater that enters the sewer system.
Specialised treatment plants process this wastewater. A combination of technologies is used to achieve the treatment objectives, based on the character of raw wastewater and use of the treated wastewater. These processes include primary, secondary and tertiary treatment. Our research, published today, found wastewater treatment removes a lot of particles,…
Cosmetics Market Research Analysis by Top Key Players, Types, New Trends and For …
The global cosmetics industry was valued at USD 277.67 billion in 2020 and is projected to grow from USD 287.94 billion in 2021 to USD 415.29 billion in 2028, exhibiting a CAGR of 5% during the 2021-2028 period.
In recent times, demand for makeup and skincare products has surged dramatically. Both men and women use it to enhance their overall appearance. The industry offers a wide variety of products, such as hair care, face care,…
Aquafeed Market Trends, Growth, Share, Size and Forecast Research Report 2028
The global aquafeed market size is anticipated to reach USD 85.17 billion by 2028 and exhibit a CAGR of 5.59% during the forecast period. The increasing popularity of aquafeed and the rising investments in the research and developments activities are projected to foster growth for the market. The market's growth is also ascribable to the increasing seafood trade due to the soaring seafood consumption and consumer expenditure on fish and…
Cricket Equipment Market Demand, Recent Trends, Size and Share Estimation by 202 …
The global cricket equipment market size was valued at USD 564.43 million in 2021 and USD 594.46 million in 2022. The market is expected to reach USD 897.02 million by 2029 with a CAGR of 6.05% during the forecast period. Growing demand for cricket bats and equipment from various institutions schools, colleges, cricket clubs, and fitness centers is anticipated to drive market growth. Increasing demand for customized sports products and cricket accessories…
More Releases for Meter
Smart Meter Market Set for Explosive Growth| Secure Meter, Kamsturp, Itron
Market Research Forecast published a new research publication on "Smart Meter Market" with 230+ pages and enriched with self-explained Tables and charts in presentable format. In the Study you will find new evolving Trends, Drivers, Restraints, Opportunities generated by targeting market associated stakeholders. The growth of the Smart Meter market was mainly driven by the increasing R&D spending across the world. Some of the key players profiled in the study…
Flow Meter Market Looks Ready For Takeoff: ABB, Badger Meter, Flexim
The Latest Released Global Flow Meter market study has evaluated the future growth potential of Global Flow Meter market and provides information and useful stats on market structure and size. The report is intended to provide market intelligence and strategic insights to help decision-makers take sound investment decisions and identify potential gaps and growth opportunities. Additionally, the report also identifies and analyses changing dynamics, and emerging trends along with essential…
Ultrasonic Water Meter Market Ultrasonic Water Meter Market
The proposed Ultrasonic Water Meter Market report will encompass all the qualitative & quantitative aspects including the market size, market estimates, growth rates & forecasts & hence will give you a holistic view of the market. The study also includes detailed analysis of market drivers, restraints, technological advancements & competitive landscape along with various micro & macro factors influencing the market dynamics.
The Ultrasonic Water Meter Market sample report…
Water Meter Market 2021 Growing Demand, Size and Business Outlook- Ningbo Water …
MarketInsightsReports, a leading global market research firm, is pleased to announce its new report on Water Meter market, forecast for 2021-2027, covering all aspects of the market and providing up-to-date data on current trends.
The Water Meter Market report provides the overall structure and business outlook of the global and regional industries. The study also involves the important Achievements of the market, Research & Development, new product launch, product responses, and…
Smart Gas Meter Market Outlook 2017- Trilliant, Sensus, Billion, Wasion, Meter I …
A market study ” Global Smart Gas Meter Market ” examines the performance of the Smart Gas Meter market 2017. It encloses an in-depth Research of the Smart Gas Meter market state and the competitive landscape globally. This report analyzes the potential of Smart Gas Meter market in the present and the future prospects from various angles in detail.
The Global Smart Gas Meter Market 2017 report includes Smart Gas Meter…
Global Smart Meter Market (Electricity, Gas, Water): By Type - Smart Electricity …
MarketResearchReports.Biz adds “Global Smart Meter Market 2011 Share, Size, Trends and Forecast to 2022 Market Research Report” reports to its database. This report provides a strategic analysis of the Smart Meter market and the growth estimates for the forecasted period.
Global rise in energy demand along with the emerging trends in smart grid technologies, integration, and advanced infrastructure along with IoT (Internet of Things) has led to the growth of Smart…
