Press release
Smart Electric Meter Systems Market share to exceed $11bn by 2024
According to industry research report “Smart Electric Meter Market Size By Application (Residential, Commercial, Utility), By Technology (AMR, AMI), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, Italy, France, UK, Sweden, Portugal, China, Japan, South Korea, India, Australia, UAE, Saudi Arabia, South Africa, Lebanon, Egypt, Mexico, Brazil, Uruguay, Argentina) Application Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024”, by Global Market Insights, Inc. says Smart Electric Meter Systems Market size will exceed USD 11 billion by 2024; driven by rising demand for renewable energy and effective transmission facilities.Growing demand for accurate billing coupled with efforts towards energy conservation will augment the global smart electric meter market growth. Rapid development of electricity network along with growing investment in smart grid will further complement the business landscape.
Increasing energy prices and growing instances of electricity theft will further boost product demand. According to a 2013 IMF report, global electricity theft was over USD 100 million. Rising concerns towards accuracy in billing among end users may positively influence the industry size.
Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/1503
The American Recovery and Reinvestment Act (ARRA) mandating strict regulations towards accurate billing along with increasing electricity demand will stimulate the U.S. smart electric meter market size. The U.S. Department of Energy and ARRA jointly invested USD 30 billion in 2009, to give an impetus to a wide range of sustainable energy projects and upgrade existing smart grid networks in the region.
Stringent regulations towards adoption of intelligent systems to precisely track electricity consumption will augment the smart electric meter market share. European Union Directive 2009/72/EC mandates member countries to undertake initiatives which will increase consumer awareness towards the benefits of adopting these products. Directive 2014/724/EU provides guidance to regulators on safeguarding and protecting consumers’ consumption data.
In 2016, UK contributed to over 20% of the Europe smart electric meter market share in terms of unit shipments. Department for Business, Energy & Industrial Strategy along with the Office of Gas and Electricity Markets (OFGEM) have directed utility providers to install these products in every household by 2020, with a view to conserve electricity.
Smart electric meter market size from Automatic Meter Reading (AMR) technology is anticipated to exceed USD 4 billion by 2024. Conventional AMR devices were programmed to collect meter readings and match with the utility provider’s consumption data. Additional data parameters can be set in these products to control their functionality remotely, owing to technological advancement. These products give warning in case of meter tampering, low battery and leak detection.
Automated Metering Infrastructure (AMI) systems will grow owing to increasing adoption of the advanced technology in developed nations including the U.S., UK, Sweden, Norway and Japan. These products provide enhanced features like notifications for demand response actions and time based pricing.
Japan smart electric meter market is predicted to witness a paradigm shift owing to adoption of AMI products. In August 2015, Tokyo Electric Power Company (TEPCO) launched an initiative to install over 2.7 million intelligent systems across the country and offer 24-hour customer support service through a Smart Meter Operation Centre.
Notable players in the smart electric meter market include Siemens, Itron, Schneider Electric, Landis+GYR, Icsa, Circutor, Holley Metering, Iskraemeco, Osaki Electric, Honeywell International, Sensus Sentec, Elster Group, Badger Meter and Neptune Technology.
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com
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 Smart Electric Meter Systems Market share to exceed $11bn by 2024 here
News-ID: 546796 • Views: …
More Releases from Global Market Insights, Inc.
Rare Sugar Market Top 3 Trends, Covid-19 Outbreak, Factors Driving, Threats, Cha …
Rising awareness regarding health & fitness and the subsequent shift in consumer trends towards low-calorie sweeteners will boost rare sugar market share over the forecast spell. Recent years have marked a steady rise in the prevalence of cardiovascular ailments, diabetes, and obesity, among other chronic conditions, which have triggered a massive change in consumer perceptions towards health.
This in turn has led to a surge in demand for various functional foods…
Global Selenium Yeast Market Industry Assessment, Trends, Competitive Landscape, …
The selenium yeast market is anticipated to register substantial gains on account of rising inclination towards organic additives in animal nutrition, with an aim to improve livestock health and production. Consumers are steadily becoming aware of the downsides associated with using synthetic additives. As a result, they are preferring selenium yeast feed grades over other counterparts to provide balanced nutrition to their livestock.
According to Global Market Insights Inc estimates…
Power Distribution Component Market Share, Size, Trends by 2025 | Leading Key pl …
Global Power Distribution Component Market Report offers market overview, segmentation by types, application, countries, key manufactures, cost analysis, industrial chain, sourcing strategy, downstream buyers, marketing strategy analysis, distributors/traders, factors affecting market, forecast and other important information for key insight.
Request a sample of this research report @ https://www.gminsights.com/request-sample/detail/3091
Voltage rating have acted as a standard industry protocol toward the installation of power components reliant on regulatory preference, deployment areas, and the group…
Prenatal Vitamin Ingredients Market New Entrants, Risk Factors, Market Expansion …
The rise in the instances of miscarriages on account of poor diet and hygiene will anchor the consumption of prenatal vitamin ingredients. Excessive intake of junk food has resulted in the scarcity of important nutrients in pregnant women that could adversely affect the fetus health and development. Furthermore, prenatal vitamin ingredients possess additional nutritional components that are not so easily sourced from regular food items and products.
Prenatal vitamin ingredients can…
More Releases for Meter
Ultrasonic Water Meter Market Ultrasonic Water Meter Market
The proposed Ultrasonic Water Meter Market report will encompass all the qualitative & quantitative aspects including the market size, market estimates, growth rates & forecasts & hence will give you a holistic view of the market. The study also includes detailed analysis of market drivers, restraints, technological advancements & competitive landscape along with various micro & macro factors influencing the market dynamics.
The Ultrasonic Water Meter Market sample report…
Water Meter Market 2021 Growing Demand, Size and Business Outlook- Ningbo Water …
MarketInsightsReports, a leading global market research firm, is pleased to announce its new report on Water Meter market, forecast for 2021-2027, covering all aspects of the market and providing up-to-date data on current trends.
The Water Meter Market report provides the overall structure and business outlook of the global and regional industries. The study also involves the important Achievements of the market, Research & Development, new product launch, product responses, and…
Smart Water Meter Market 2017- SenTec, Badger Meter, Sensus, Aquiba, Itron
Apex Research, recently published a detailed market research study focused on the "Smart Water Meter Market" across the global, regional and country level. The report provides 360° analysis of "Smart Water Meter Market" from view of manufacturers, regions, product types and end industries. The research report analyses and provides the historical data along with current performance of the global Smart Water Meter industry, and estimates the future trend of Smart…
Smart Gas Meter Market Outlook 2017- Trilliant, Sensus, Billion, Wasion, Meter I …
A market study ” Global Smart Gas Meter Market ” examines the performance of the Smart Gas Meter market 2017. It encloses an in-depth Research of the Smart Gas Meter market state and the competitive landscape globally. This report analyzes the potential of Smart Gas Meter market in the present and the future prospects from various angles in detail.
The Global Smart Gas Meter Market 2017 report includes Smart Gas Meter…
Global Smart Meter Market (Electricity, Gas, Water): By Type - Smart Electricity …
MarketResearchReports.Biz adds “Global Smart Meter Market 2011 Share, Size, Trends and Forecast to 2022 Market Research Report” reports to its database. This report provides a strategic analysis of the Smart Meter market and the growth estimates for the forecasted period.
Global rise in energy demand along with the emerging trends in smart grid technologies, integration, and advanced infrastructure along with IoT (Internet of Things) has led to the growth of Smart…
Global Smart Water Meter Market 2017 - Arad Technologies, Badger Meter, Elster
The motive of this strategic research report entitled “Global Smart Water Meter Market 2017” is to provide company officials, industry investors and industry members with consequential insights to enable them make reliable strategic decisions regarding the opportunities in the global Smart Water Meter market.
Key Notes On Smart Water Meter Market:
“Global Smart Water Meter Market 2017” offers crucial insights into the global Smart Water Meter market along with the market size…
