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Power Metering Market worth $4.64 billion by 2030, growing at a CAGR of 10.63% - Exclusive Report by 360iResearch
Power Metering Market | 360iResearch
The Global Power Metering Market to grow from USD 2.29 billion in 2023 to USD 4.64 billion by 2030, at a CAGR of 10.63%.
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Power metering refers to monitoring, measuring, and analyzing the flow of electrical power in a specified system, such as residential, commercial & industrial buildings, or across electrical distribution networks. It involves using devices known as power meters that capture data related to various electrical parameters, such as voltage, current, power factor, energy consumption, and demand over time. This data can be utilized to assess the efficiency of electrical systems, manage energy costs, and ensure the reliability and quality of power supply. Meanwhile, rising electricity consumption in industrial and commercial areas boosts the demand for power metering for efficient data monitoring and management. However, the concerns associated with their standardization and interoperability are a significant challenge faced by the key players and end users operating power metering solutions. Companies are consistently working towards areas for innovation and research that can drive business growth, including developing more secure and resilient metering devices. Moreover, the recent advancements in the power metering systems, such as digital transformation trends, offer the potential for innovations in the power metering industry. Additionally, adopting the Internet of Things (IoT) for enhanced connectivity and data analytics capabilities presents an opportunity for key players to deploy smart meters that contribute to improved energy management and sustainability.
The power metering market in the Americas is driven by consumer needs for energy efficiency, accurate billing, and integrating renewable energy sources. The United States presents a large share of power metering landscapes with smart grid technology adoption, investing in advanced metering infrastructure (AMI) as part of utility modernization efforts. Meanwhile, Canada follows suit, strongly focusing on sustainability and reducing carbon footprints. Canada's power metering sector is expanding, bolstered by government initiatives to promote smart grids and renewable energy systems. In addition, the European and Middle Eastern regions present a varied power metering landscape, with the European countries demonstrating strong commitments to sustainability with regulatory mandates for smart metering. Economic diversification and smart city projects propel the market in the Middle East, while Africa's power metering spaces are emerging, primarily focused on expanding access to electricity. International investments and partnerships are key drivers in this region, with a growing number of initiatives aimed at modernizing power systems and introducing renewable sources. Moreover, the Asia Pacific region is experiencing rapid growth in power metering due to burgeoning industrialization, urbanization, and increased energy demand. China and India are significant players with vast initiatives and government support pushing the market forward. Japan has strongly emphasized energy security and efficiency, leading to the widespread adoption of smart metering systems. Investments in the Internet of Things (IoT) and smart technologies are commonplace in this region, with customer purchasing trends leaning towards high-tech energy management solutions.
Market Segmentation & Coverage:
This research report categorizes the Power Metering Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Technology, market is studied across Analog Meter, Digital Meter, and Smart Meter. The Digital Meter is projected to witness significant market share during forecast period.
Based on Phase, market is studied across Single and Three. The Three is projected to witness significant market share during forecast period.
Based on End-User, market is studied across Commercial, Industrial, and Residential. The Commercial is projected to witness significant market share during forecast period.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Americas commanded largest market share of 38.41% in 2023, followed by Europe, Middle East & Africa.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Power Metering Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Power Metering Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Power Metering Market, highlighting leading vendors and their innovative profiles. These include ABB Limited, Accuenergy Inc., Acrel Co., Ltd., Anritsu Corporation, DS Instruments, Eaton Corporation PLC, General Electric Company, Genus Power Infrastructures Limited, Havells India Limited, Holley Metering Limited, Honeywell International Inc., Itron Inc., Jiangsu Linyang Electronics Co., Ltd., Keysight Technologies, Krytar, Inc., Kuhne Electronic by Alaris Group, Lakshmi Electrical Control Systems Limited, Ningbo Sanxing Electric Co., Ltd., PCE Deutschland GmbH, Rockwell Automation, Inc., Rohde & Schwarz, Saluki Technology, Schneider Electric SE, Scientech, Inc. by Curtiss-Wright Corporation, Siemens AG, Sontex SA, Tektronix, Inc. by Danaher Corporation, Virginia Diodes, Inc., and Werlatone Inc..
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Power Metering Market, by Technology
7. Power Metering Market, by Phase
8. Power Metering Market, by End-User
9. Americas Power Metering Market
10. Asia-Pacific Power Metering Market
11. Europe, Middle East & Africa Power Metering Market
12. Competitive Landscape
13. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Power Metering Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Power Metering Market?
3. What is the competitive strategic window for opportunities in the Power Metering Market?
4. What are the technology trends and regulatory frameworks in the Power Metering Market?
5. What is the market share of the leading vendors in the Power Metering Market?
6. What modes and strategic moves are considered suitable for entering the Power Metering Market?
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