Press release
Smart Meters Market Is Anticipated To Be Highest Growth Between 2021 To 2031
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A smart meter is a digital electricity meter that tracks how much power a home or business is using. The meter then sends this information to the utility company so that the customer can be billed for their electricity usage.
Smart meters can help customers save money on their electricity bills by providing them with real-time data on their power usage. This information can be used to make changes to the way electricity is used in the home or business, such as turning off lights when they are not needed, or using appliances during off-peak hours when electricity is cheaper.
Utility companies can also use smart meters to improve the efficiency of the power grid by reducing the need for expensive infrastructure upgrades. For example, if a utility company knows that a certain area of the grid is consistently overloaded during peak times, they can take steps to alleviate the problem without having to build new power lines or substations.
Key Trends
There are a few key trends in smart meters technology. One is the trend toward integrating smart meters with other devices in the home, such as thermostats and appliances. This allows for a more seamless and efficient experience for the homeowner, as well as greater energy savings. Another trend is the development of new technologies that make it easier to install and maintain smart meters. This includes the development of wireless technologies that make it easier to communicate with the meters and to collect data from them.
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Key Drivers
A variety of factors are driving the deployment of smart meters.
Many utilities are under mandates from state regulators to deploy smart meters.
Smart meters can enable utilities to offer new services to their customers, such as time-of-use pricing, which can save customers money by incentivizing them to use electricity during off-peak hours.
Smart meters can help utilities to address the problem of non-technical losses, which refer to electricity that is lost due to factors such as theft, metering errors, and billing mistakes.
Smart meters can provide utilities with valuable data that can be used to improve grid operations and planning.
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Market Segments
By Application
Residential
Commercial
Industrial
By Technology
AMI
AMR
By Phase
Single Phase
Three Phase
Key Players
General Electric
Apator
Honeywell Elster
Kamstrup
Itron
Schneider Electric
Aclara Technologies
Circutor SA
Osaki Electric
Landis+Gyr
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