Press release
A Deep Dive into Power Metering Market 2025: Key Drivers, Growth Factors, and Projections 2025-2034
Power Metering
The escalating emphasis on energy efficiency is anticipated to stimulate the expansion of the power metering market. Energy efficiency involves accomplishing the same task or generating the same output using less energy, which cuts down on energy wastage and costs. Factors such as escalating energy costs, environmental worries, and regulatory pressures are propelling a stronger focus on energy efficiency. Power metering aids in enhancing energy efficiency by supplying real-time data on energy usage, which allows for advanced management and minimization of energy consumption. For example, in April 2022, the Department for Business, Energy & Industrial Strategy, a government department in the UK, reported that, as of 2022, 40% of homes in England have attained Energy Performance Certificate (EPC) ratings of B or C or higher, displaying a significant degree of energy efficiency. In addition, 84% of new builds comply with the highest energy efficiency standards of A or B, illustrating the efficiency of contemporary construction practices and regulations designed for sustainability. Plus, it's anticipated that by 2025, around 700,000 homes will be renovated to enhance their energy performance. Thus, the amplified emphasis on energy efficiency is powering the development of the power metering market.
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What is the future CAGR of the power metering market, and how will it impact industry expansion?
In recent times, the power metering market has seen robust growth. Its size that stood at $18.17 billion in 2024 is projected to increase to $19.9 billion by 2025, with a compound annual growth rate (CAGR) of 9.5%. Factors contributing to the success in the historical period include expansion of electric utilities, increasing prominence of energy storage and renewable energy integration, growth in industrial activities, and an increase in the electric vehicles sector.
The market size of power metering is predicted to experience significant expansion in the upcoming years. The market is forecasted to reach $28.28 billion by 2029 with a compound annual growth rate (CAGR) of 9.2%. This growth during the projection period is due to factors such as rising energy consumption, heightened consumer desire for immediate data, increased focus on cybersecurity in energy infrastructure, surge in investments for smart meter installation, and growing construction expenditure. Key trends during this future period encompass technological evolution, adoption of smart grids, incorporation of the Internet of Things, artificial intelligence integration, and the use of meter data management systems.
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What are the most significant trends transforming the power metering market today?
Prominent firms in the power metering sector are innovating products backed by advanced technology such as optical power meters, which offer accurate reading of optical signal power. These tools are utilised for measuring the strength of light signals, mostly in fiber optic networks, to maintain the correct signal strength and ensure the smooth operation of optical communication systems. In particular, Santec Corporation, a company originating from Japan, introduced the OPM-200 power meter in March 2023. This high-functioning optical power meter has been engineered for precision and user-convenience in laboratory and manufacturing settings. The OPM-200 exhibits a dynamic measurement range that extends from +8 dBm to -80 dBm, proving its adaptability across different applications. The device can be equipped with up to four detectors that can be installed on a panel or serve as a remote-head, offering flexibility in the setup process. The cables of the remote-head can reach up to 10 meters. The gadget offers a high-speed sampling rate of 1 MHz with the option for users to choose averaging times between 50 microseconds and 1 second.
Which key market segments comprise the power metering market and drive its revenue growth?
The power meteringmarket covered in this report is segmented -
1) By Type: Smart, Digital, Analog
2) By Phase: Single Phase, Three Phase
3) By End User: Residential, Commercial, Industrial
Subsegments:
1) By Smart Meters: Advanced Metering Infrastructure (AMI), Smart Grid Meters, Two-Way Communication Meters, Time-Of-Use Meters
2) By Digital Meters: Electronic Energy Meters, Digital Multifunction Meters, Programmable Digital Meters, Power Quality Analyzers
3) By Analog Meters: Electromechanical Meters, Induction Meters, Moving Coil Meters, Watt-Hour Meters
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What regions are leading the charge in the power metering market?
North America was the largest region in the power metering market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the power metering market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the leading players fueling growth in the power metering market?
Major companies operating in the power metering market are Siemens AG, Honeywell International Inc., GE Vernova, Toshiba Corporation, Eaton Corporation Plc, Infineon Technologies AG, Ametek Inc., Fluke Corporation, Yokogawa Electric Corporation, Schneider Electric SE, Rohde & Schwarz GmbH & Co. KG, Schweitzer Engineering Laboratories Inc., Socomec Group, Mitsubishi Electric Automation Inc., Hexing Electrical Co. Ltd., Circutor SA, Kamstrup A/S, Accuenergy Inc., EMH Metering GmbH & Co. KG, Metrix Instrument Co. Ltd., Trinity Energy Systems Pvt. Ltd., ZIV Automation S.L
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What Is Covered In The Power Metering Global Market Report?
•Market Size Forecast: Examine the power metering market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the power metering market for a structured understanding.
•Key Players Overview: Analyze major players in the power metering market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the power metering market.
•Segment Contributions: Evaluate how different segments drive overall growth in the power metering market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the power metering market.
•Industry Challenges: Identify potential risks and obstacles affecting the power metering market.
•Competitive Landscape: Review strategic developments in the power metering market, including expansions, agreements, and new product launches.
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