Electric Sub Meter: A Leading Driver Behind Growth In Renewable Energy Adoption Driving Demand For Electric Sub Meters Market Expansion in 2025

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What Will the Electric Sub Meter Industry Market Size Be by 2025?
In the past few years, there's been significant expansion in the electric sub meter market. It is projected to escalate from $9.77 billion in 2024 to $10.48 billion in 2025, with a compound annual growth rate (CAGR) of 7.2%. The substantial growth in the historical period is due to several factors including the growing demands for energy efficiency, stricter regulatory requirements for energy monitoring, increasing urbanization, the expansion in both commercial and residential construction, a renewed emphasis on sustainability, development of smart grid infrastructure, and the widespread utilization of renewable energy sources.

What's the Long-Term Growth Forecast for the Electric Sub Meter Market Size Through 2029?
The electric sub meter market is predicted to witness significant expansion in the forthcoming years, with expectations to reach "$14.43 billion in 2029" accounting for a compound annual growth rate (CAGR) of 8.3%. This projected progress during the forecast period is attributable to escalating demand for energy-efficient solutions, increasing governmental regulations that endorse smart grid systems, wider adoption of renewable energy sources, expanding urbanization and infrastructural development, growing necessity for accurate energy monitoring in residential and industrial facets, and an intensified emphasis on slashing electricity expenses. Predominant trends during the forecast period are likely to encompass advancements in IoT integration for real-time data monitoring, utilization of smart meters for energy control, creation of sophisticated billing solutions, usage of cloud-based platforms for data analytic purposes, and the integration of wireless sub metering.

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What Are the Key Growth Drivers Fueling the Electric Sub Meter Market Expansion?
The forward-moving expansion of the electric sub-meter market is anticipated to be fueled by the rising acceptance of renewable energy sources. Natural resources that are consistently replenished, such as geothermal power, solar, and wind, provide renewable energy. These resources are not just sustainable, but they also have a slight environmental footprint. By reducing greenhouse gas emissions, they play a crucial role in battling climate change. The environmental benefits of renewable energy, including its role in offsetting climate change and reducing greenhouse gases, are leading to its increasing uptake. Electric submeters play a crucial role in efficiently managing renewables by keeping track of energy generation, use, and transfer from sources like wind, solar and hydro. For example, in February 2024, the World Resources Institute, a US-based non-profit organization reported an unprecedented installation of 31 gigawatts (GW) of solar energy capacity in 2023 in the United States. This marks a substantial 55% increase compared to installations in 2022, surpassing the previous 2021 record. Consequently, the rising adoption of renewable energy sources bolsters the electric sub-meter market.

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Which Fast-Growing Trends Are Poised to Disrupt the Electric Sub Meter Market?
Prominent firms within the electric sub-meter market are prioritizing innovative advancements, such as the incorporation of cloud computing systems into energy meters. These advancements strive to improve data precision, permit real-time energy tracking, and yield advanced analytics for energy consumption optimization and operational cost reduction. The cloud computing platform offers an online solution for data storage, processing, and management. For instance, in February 2022, ABB Ltd., an automation firm based in Switzerland, introduced an M1M series of electric measurement and power monitoring meters for the digital panel meter. The M1M series provides cost-efficient submetering for commercial and industrial infrastructures, integrating with ABB's cloud software for holistic system monitoring and energy optimization. These meters augment electrical system proficiency by offering a comprehensive range of measurement features.

How Is the Electric Sub Meter Market Segmented?
The electric sub meter market covered in this report is segmented -

1) By Type: Non-Socket Or Electronic Sub-Meter, Socket Or Electromechanical Sub-Meter, Current Transformer, Feed-Through Sub-Meter
2) By Phase: Single Phase, Three Phase
3) By Application: Residential, Commercial, Industrial

Subsegments:
1) By Non-Socket Or Electronic Sub-Meter: Digital Non-Socket Sub-Meter, Smart Non-Socket Sub-Meter, Wireless Non-Socket Sub-Meter
2) By Socket Or Electromechanical Sub-Meter: Analog Socket Sub-Meter, Digital Socket Sub-Meter, Mechanical Socket Sub-Meter
3) By Current Transformer: Instrument Current Transformers, Protection Current Transformers, Measurement Current Transformers
4) By Feed-Through Sub-Meter: Single-Phase Feed-Through Sub-Meter, Three-Phase Feed-Through Sub-Meter, Smart Feed-Through Sub-Meter

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Which Companies Are Leading the Charge in Electric Sub Meter Market Innovation?
Major companies operating in the electric sub meter market are Siemens AG, General Electric Company, Honeywell International Inc., ABB Ltd., Eaton Corporation plc, Chint Group Co. Ltd., Xylem Inc., Hubbell Incorporated, Schneider Electric SE, Leviton Manufacturing Company Inc., Itron Inc., Landis+Gyr AG, Jiangsu Linyang Energy Co. Ltd., Shenzhen Clou Electronics Co. Ltd., OK a.m.b.a. (Kamstrup), Ningbo Sanxing Smart Electric Co. Ltd., Charterhouse Capital Partners (Sagemcom), Shenzhen Techrise Electronics Co. Ltd., Holley Technology Ltd., NuriFlex Co. Ltd., Zhejiang Wellsun Electric Meter Co. Ltd., Ning Xia Yin Xing Energy Co. Ltd. (Longi), Zhejiang Hengye Electronics Co. Ltd., Star Treasure Investments Holdings Limited (Wasion Group), XJ Measurement & Control Meter Co. Ltd.

Which Regions Are Leading the Global Electric Sub Meter Market in Revenue?
North America was the largest region in the electric sub meter market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the electric sub meter market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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