Emerging Growth Patterns Driving Expansion in the Electricity Submetering for Smart Grid Market

The electricity submetering for smart grid market is positioned for significant expansion in the coming years, driven by technological advancements and increasing demand for energy management solutions. This market's growth reflects the ongoing transformation within energy distribution and consumption monitoring, highlighting new opportunities and innovations shaping the future of smart grids.

Size and Growth Outlook for the Electricity Submetering for Smart Grid Market
Forecasts anticipate the electricity submetering for smart grid market will reach a value of $24.56 billion by 2030. This expansion corresponds to a compound annual growth rate (CAGR) of 12.1% during the forecast period. The surge is largely fueled by the broadening deployment of smart grid infrastructures, rising adoption of cloud-based analytics, and the integration of artificial intelligence and machine learning techniques to optimize energy use. Additionally, increasing implementation of submetering systems across residential and commercial sectors, alongside a growing emphasis on sustainability and reducing carbon footprints, contributes to this upward trajectory. Key market trends include enhanced integration with energy management systems, real-time data analytics for optimizing load, capabilities for remote monitoring and control, demand response facilitation, and predictive maintenance combined with fault detection technologies.

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Key Drivers Accelerating the Electricity Submetering for Smart Grid Market
Expanding smart grid networks worldwide play a crucial role in propelling the electricity submetering market's rapid growth. These advanced grid systems require precise and granular measurement solutions to manage electricity distribution efficiently, which encourages wider adoption of submetering technologies.
Parallel to infrastructure growth, the emphasis on sustainability is increasingly influencing market dynamics. Businesses and consumers are prioritizing energy efficiency and carbon footprint reduction, driving demand for smart metering solutions capable of detailed consumption monitoring and management to support these goals.

Leading Players Shaping the Electricity Submetering for Smart Grid Market
The market features important contributors such as Siemens AG, General Electric Company, Schneider Electric SE, Honeywell International Inc., Sensus (a Xylem Inc. company), Diehl Metering GmbH, Sagemcom, Itron Inc., Landis+Gyr AG, Ningbo Sanxing Electric, Wasion Group Holdings Ltd., Badger Meter Inc., Holley Technology Ltd., Aidon Oy, Kamstrup A/S, Hexing Group, Aclara Technologies LLC, Apator S.A., EDMI Limited, HPL Electric & Power Ltd, Genus Power Infrastructures Ltd, Trilliant Holdings Inc., Iskraemeco d.d., CyanConnode, Paradox Engineering SA, Elster Group GmbH, and IntelliSmart Infrastructure Pvt Ltd.
In a notable recent development, Italy-based smart grid technology firm Gridspertise acquired Finland-based Aidon Oy in November 2023 for an undisclosed sum. This acquisition is intended to boost Gridspertise's presence in advanced smart metering and grid digitalization within Nordic markets, while enhancing its overall portfolio of smart grid solutions.

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Emerging Innovations and Trends in the Electricity Submetering Market
Key players in this space are focusing on cutting-edge innovations such as smart electricity submetering systems, which provide enhanced real-time visibility into energy consumption, support grid interoperability, and improve energy efficiency. Such solutions enable automated, accurate measurement and detailed analysis at a granular level, supporting better decision-making for energy management.
For example, in November 2023, Germany-based Techem GmbH introduced a smart meter operation solution for Deutsche Investment. This system automates electricity and gas consumption data collection and provides web-based visualization tools. It strengthens smart grid compatibility by enabling seamless data exchange, reducing the need for manual processes, and assisting compliance with Environmental, Social, and Governance (ESG) reporting requirements.

Segments Defining the Global Electricity Submetering for Smart Grid Market
This market is classified into several distinct segments:
1) By Type: Smart Meters, Submeters, Communication Networks, and Other Types
2) By Phase: Single Phase, Three Phase, and Other Phase Types
3) By Technology: Advanced Metering Infrastructure, Wireless Communication Networks, Power Line Communication, Cloud-Based Analytics, and Other Technologies
4) By Application: Monitoring electricity consumption at a granular level, energy management, load analysis and forecasting, plus other applications
5) By End User: Utilities, commercial buildings, industrial facilities, residential consumers, and other end users

Additionally, the subsegments include:
- By Smart Meters: single phase smart meters, three phase smart meters, prepaid smart meters, postpaid smart meters
- By Submeters: residential submeters, commercial submeters, industrial submeters, water submeters, gas submeters
- By Communication Networks: wired communication networks, wireless communication networks, power line communication networks, hybrid communication networks
- By Other Types: energy monitoring devices, load management devices, distribution automation devices, demand response devices

This detailed segmentation provides a comprehensive framework for understanding how the electricity submetering for smart grid market is organized and how different technologies and applications contribute to its growth.

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This release was published on openPR.