Press release
Global Smart Meters Market to Reach $15.51 Billion by 2031, Driven by Growing Energy Efficiency Initiatives - TMR Report
Smart Meters Market
Access important conclusions and data points from our Report in this sample - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=379
The electricity meters (smart meters) market is expanding as digital adoption and eCommerce drive demand for real-time energy monitoring. Despite concerns over signal issues and display accuracy, smart meters offer key benefits like remote readings and flexible tariffs, prompting industry efforts to boost consumer awareness.
Manufacturers are enhancing technology to improve reliability and highlight smart meters' role in identifying faulty appliances and optimizing energy use. With government initiatives supporting energy efficiency, the market is set for strong growth, reinforcing smart meters' global adoption.
Competitive Landscape:
The electricity meters (smart meters) market is highly competitive, with key players focusing on technological advancements and strategic collaborations to enhance their market presence. Leading companies operating in this sector include:
Schneider Electric, Siemens AG, Itron Inc., Honeywell International Inc., Kamstrup, Landis+Gyr, Iskraemeco
Companies are investing in R&D to develop cost-effective and technologically advanced smart meters. Strategic partnerships and acquisitions are also playing a crucial role in expanding product portfolios and market reach.
Key Market Drivers
1. Favorable Government Policies:
o The EU Energy Market Legislation mandates smart meter installations across member states, with over 99 million smart meters installed by January 2018.
o The Colombian Ministry of Mines and Energy aims to cover 95% of urban consumers and 50% of rural consumers with smart meters by 2030.
o The Australian Energy Market Commission is actively promoting the accelerated deployment of smart meters.
2. Cost Savings and Energy Efficiency:
o Smart meters provide real-time energy consumption data, enabling cost savings by shifting energy use to off-peak hours.
o Enhanced energy efficiency and demand-side management contribute to optimized power distribution and lower operational costs for utility providers.
3. Work-from-Home Trends Post-Pandemic:
o Increased residential energy consumption is driving demand for smart meters that offer better monitoring and cost control.
o Manufacturers are leveraging digital marketing and eCommerce platforms to boost smart meter sales.
4. Integration with Renewable Energy Sources:
o Smart meters facilitate demand response mechanisms that support renewable energy integration.
o Utilities are utilizing smart meters to monitor and manage fluctuations in power supply due to intermittent renewable energy generation.
Access detailed insights by visiting our full report - https://www.transparencymarketresearch.com/smart-meters-market.html
Market Segmentation
Type
• Single Phase Meter
• Three Phase Meter
End User
• Residential
• Commercial
• Industrial
Regions Covered
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Emerging Trends in the Inspection Equipment Market
• AI and IoT Integration: Advanced smart meters now incorporate AI and IoT technologies to provide predictive maintenance and real-time monitoring capabilities.
• Cybersecurity Enhancements: As smart meters become more connected, manufacturers are prioritizing security features to protect against cyber threats.
• Advanced Data Analytics: Smart meters generate large volumes of data, enabling utilities to optimize power distribution and implement dynamic pricing strategies.
Access important conclusions and data points from our Report in this sample - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=379
More Trending Reports:
Product Prototyping Market: https://www.transparencymarketresearch.com/product-prototyping-market.html
Aerial Target Drones Market: https://www.transparencymarketresearch.com/aerial-target-drones-market.html
About Us Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.
Contact:
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Email: sales@transparencymarketresearch.com
Follow Us: LinkedIn| Twitter| Blog | YouTube
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 Global Smart Meters Market to Reach $15.51 Billion by 2031, Driven by Growing Energy Efficiency Initiatives - TMR Report here
News-ID: 3886447 • Views: …
More Releases from Transparency Market Research
Global Solar Powered Agricultural Dryer Market to Exceed USD 2.4 Billion by 2031 …
The global solar powered agricultural dryer market, valued at US$ 1.6 billion in 2022, is projected to grow at a CAGR of 5.8% from 2023 to 2031, reaching US$ 2.4 billion by the end of 2031. Rising investments in renewable energy, growing awareness of sustainable agricultural practices, and the rapid expansion of the agricultural sector driven by population growth are key factors fueling market growth.
Uncover essential discoveries and trends from…
Technetium-99m Market Forecast 2034: Rising Demand for Diagnostic Imaging and Ra …
The global Technetium‐99m Market was valued at US$ 6.0 Billion in 2023 and is projected to grow at a CAGR of 3.3% from 2024 to 2034, surpassing US$ 8.6 Billion by the end of the forecast period. Advancements in nuclear imaging infrastructure, government-backed healthcare initiatives, and an increasing demand for precise diagnostic procedures are fueling this growth.
Discover essential conclusions and data from our Report in this sample -
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=77100
Analysts' Viewpoint
The Technetium‐99m…
Equine Diagnostic Services Market Outlook 2030: From US$ 168 Million in 2019 to …
The global Equine Diagnostic Services Market, valued at approximately US$ 168 million in 2019, is projected to expand at a compound annual growth rate (CAGR) of ~5% from 2020 to 2030, reaching around US$ 280 million by 2030. Equine diagnostic services, encompassing tests like genetic, infectious disease, and imaging diagnostics, are critical for managing horse health in veterinary hospitals, clinics, and mobile settings. The market is driven by increasing equine…
Digital Printing Market to Reach USD 54.4 Billion by 2034, Growing at a CAGR of …
The digital printing market is experiencing strong growth, driven by rapid technological advancements, rising demand for personalized and on-demand printing, and an increasing focus on sustainable solutions. Digital printing allows for the direct transfer of digital files onto a wide range of substrates, offering high-resolution output with greater speed and flexibility. Its adaptability has led to broad adoption across industries such as packaging, textiles, publishing, and advertising-sectors where customization, efficiency,…
More Releases for Smart
Smart Cities Market is Expected to Witness CAGR of 17.3% by 2027 with Applicatio …
A smart city is an urban unit or area that uses various types of electronic Internet of Things (IoT) devices to collect data and then use the insights to manage resources, assets, and services effectively. Green building is a growing trend in the global smart cities market. Constructing eco-friendly infrastructure facilities can provide a sustainable environment in the cities. Moreover, governments are focused on constructing energy-efficient buildings, in order…
Internet of Things (IoT) Devices Market By Type (Computing Devices, Smart Media, …
On a global scale, the Internet of Things (IoT) Devices market is currently showing significant development. The innovative methods and market study have helped many of the major players Samsung Electronics, Apple, Lenovo, ASUS, Acer, Huawei, Coolpad, LG Electronics, Google, Panasonic, Microsoft, Brother Industries, Honeywell, Fitbit, Lenovo to carve a name for themselves in the competitive global market. The Internet of Things (IoT) Devices market is experiencing a massive growth…
Global Smart Cities Market by Component (Hardware, Software) by Application (Sma …
Global Smart Cities Market: Overview
The global smart cities market is expected to reach a mark of over USD 3000 billion by 2024, at a CAGR over 21% during the forecast period. Significant growth in next-generation technologies such as artificial intelligence AI, personalized healthcare, sustainable energy generation and robotics are driving the smart cities’ future. Moreover, the increase in residential preference towards the adoption of advanced information and communication technologies ICT…
Global Smart Infrastructure - A Smart Approach To Smart Cities In 2016
Slowly but surely we are beginning to see a transformation take place in many parts of the world, as governments and councils realise they need to take a holistic approach to future city-wide development. In Australia, for example, we see that Adelaide, Canberra, Newcastle, Lake Macquarie, Sydney, Ipswich and Sunshine Coast have all been identified as being among the leading smart cities. The Netherlands also has great examples of emerging…
Global Smart Infrastructure - A Smart Approach To Smart Cities In 2016
The global smart city transformation is underway
Slowly but surely we are beginning to see a transformation take place in many parts of the world, as governments and councils realise they need to take a holistic approach to future city-wide development. In Australia, for example, we see that Adelaide, Canberra, Newcastle, Lake Macquarie, Sydney, Ipswich and Sunshine Coast have all been identified as being among the leading smart cities. The Netherlands…
Smart Kitchen Appliances Market ( Smart Refrigerators, Smart Dishwashers, Smart …
The rising demand for smart kitchen appliances is linked to their premium design that offers better effectiveness and more comfort than their traditional counterparts. With energy efficiency at its core, the global market for smart kitchen appliances is expected to surge at a robust pace in the near future.In a report titled “Smart Kitchen Appliances Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2022,” Transparency…
