Press release
Electricity Meters Market - Huge Opportunity for Growth of Smart Meters in the Global Regions
Moreover, in countries such as China, there has been significant activity toward up gradation of meters, distribution networks, transmission systems, and generating capabilities and this is aiding the growth of smart meters. Additionally, the high degree of energy efficiency provided by smart electricity meters is expected to positively impact the industry.
Globally, the penetration rate of smart meters varies across different regions due to varying impact of regulatory factors. For instance, until now the maximum impact of regulations regarding smart meters was seen in European and North American regions; however; the trend is anticipated to shift increasingly toward Asia Pacific over the coming years.
Further, there is a huge opportunity for growth of smart meters in regions such as Latin America, Middle East and Africa as these regions are experiencing huge surge in electricity demand owing to development in economic conditions. Thus, these regions are anticipated to increasingly adapt advanced technology in order to meet energy security needs.
Rise in demand and installation of smart grids and advanced metering infrastructure are important global market trends providing strong impetus to the growth of smart meters. Further, the smart meters offer enhanced accuracy, two-way communication medium between utility and meters, real-time data feeds, monitoring of power quality and automated outage detection among other features.
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Utilities are continuously seeking for ways to reduce the operating costs and enhance the efficiency through monitoring of data. Smart meters are aiding this effort by the utilities and thus the utilities themselves are promoting the growth of smart metering infrastructure.
Increasing penetration of machine-to-machine technology in both home and industrial smart meter uses is further anticipated to positively impact the growth of smart meters market.
This report analyzes and forecasts the global demand for electricity smart meters in terms of volumes (million units) and revenues (USD million) from 2011 to 2018.
The report explains the drivers and restraints affecting the market, along with an analysis of their expected impact on the future growth of this industry. It also provides an analysis of the available market opportunities that could drive the electricity meters industry over the forecast period.
For the purpose of this study, we have considered only smart meters and not traditional electricity meters as all technological focus was dedicated to smart meter technology. All market dynamics, estimates, forecasts and competitive analysis included in the study pertain only to smart meters.
The report includes value chain analysis for better understanding of the supply chain of smart meters starting from the raw material to the actual meters across various applications. It also includes Porter’s five forces analysis to evaluate the degree of competitiveness in the market.
About TMR
TMR is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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