Smart Electric Meter Market Size, Share & Industry Analysis, By Type (Advanced Metering Infrastructure and Auto Meter Reading), By Application (Residential, Industrial, Commercial, and Others), and Regional Forecast, 2026.
The global smart electric meters market is anticipated to reach USD 30.19 Billion by 2026. Electricity plays a crucial role in the energy and power industry. The rising need to maintain data with an aim to avoid any unaccounted consumption is fueling demand for smart electric meters. These meters help to enhance the efficiency of power networks as they are fully digitized and involves measuring and collecting data. These meters act as strong pillars behind the intelligence power grids. Now, companies are developing “smart electric meters” that can not only collect data rather gather it for consumption billing. Such factors have compelled consumers to replace their traditional meters with smart and advanced electric meters. These new electric meters can monitor the electricity consumption on a daily or monthly basis and directly sends the meter readings to the company. There is no manual operational activity involved in either producing a bill or noting the readings. Spurred by this advantage, the smart electric meters market is expected to grow at a promising rate in the forthcoming years. As compared to traditional electric meters, smart meters maintain transparency with regards to bill generation between consumers and electric companies. Owing to the rising adoption of renewable energies such as wind and solar energy, the smart electric meters are penetrating into developing as well as developed nations.
Request a Sample Copy of the Global Market Research Reporthttps://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/smart-electric-meter-market-100749
Top Players Overview:
China to Witness the Maximum Deployment of Smart Electric Meters. Asia Pacific to Dominate
In 2018, the market in Asia Pacific was valued at USD 9.13 Billion and is projected to hold the maximum share in the global market through the forecast years. The smart metering industry is gaining a lot of traction in China owing to the highest deployment of smart electric meters. People prefer direct communication than manual meter reading between end-user and companies. This is further increasing the adoption of smart electric meters across the countries of Asia Pacific. Apart from Asia Pacific, market in North America and Europe is estimated to register moderate growth over the projected horizon.
Smart Electric Meter Market Landscape and Market Scenario Includes:
Order full Reporthttps://www.fortunebusinessinsights.com/checkout-page/100749
Segmentation
1. By Type
2. By Application
3. By Geography
Fortune Business Insights in a report, titled “Smart Electric Meters Market Size, Share and Industry Analysis, By Type (Advanced Metering Infrastructure and Auto Meter Reading), By Application (Residential, Industrial, Commercial, and Others), and Regional Forecast, 2019-2026” predicts the global market to exhibit a CAGR of 7.95% between 2018 and 2026. In addition to this, the market was valued at USD 16.39 Billion in the year 2018. The report outlines the present scenario of the global market by offering key insights into the trends and drivers stimulating growth. In addition to this, it offers a detailed competitive landscape by covering key developments of some of the leading players. It also showcases information on all the major segments and their respective market share.
Important Features that are under Offering and Key Highlights of the Market Report:
Request for Customizationhttps://www.fortunebusinessinsights.com/enquiry/customization/smart-electric-meter-market-100749
Adoption of Smart Electric Meters to Overcome the Rising Concern on Energy Consumption
The rising demand rather needs for electricity along with the increasing population withy rural electrification has led to the increasing process of electricity across several countries. Smart electric meters offer numerous advantages to electric companies which include real-time data to avoid power outages, instant and precise monitoring of the system, and reduction of electricity cost as per demand. These smart meters offer advantages to customers by providing them constant feedback on the usage of electricity, reducing system failures or blackouts, and enables automatic adjustment of power usage to control high-priced bills. Considering the concerns regarding high energy consumption, the adoption of smart electric meters is expected to augment by 2026. Smart electric meters enable two-way communication between the system and consumer through new technologies such as General Packet Radio Service (GPRS). This further helps to save energy and eventually result in reducing energy emissions. Another major trend observed in this market is that people are shifting towards moving the concept of smart homes. This has led to the emergence of automatically controlling the light, energy, and electricity to avoid energy wastage. Therefore, the demand for smart electric meters in increasing at a remarkable rate.
Key Features of Market Research Report:
Lastly, this report covers the market landscape and its growth prospects over the coming years, the Report also brief deals with the product life cycle, comparing it to the relevant products from across industries that had already been commercialized details the potential for various applications, discussing about recent product innovations and gives an overview on potential regional market shares.
For more information in the analysis of this report, visithttps://www.fortunebusinessinsights.com/industry-reports/smart-electric-meter-market-100749
Table of Content
5. Global Smart Electric Meter Market Analysis, Insights, and Forecast, 2015-2026
5.1. Key Findings / Summary
5.2. Smart Electric Meter Market Analysis, Insights, and Forecast By Type (USD Billion)
5.2.1. Advanced Metering Infrastructure
5.2.2. Auto Meter Reading
5.3. Smart Electric Meter Market Analysis, Insights and Forecast By Application (USD Billion)
5.3.1. Residential
5.3.2. Commercial
5.3.3. Industrial
5.3.4. Others
5.4. Smart Electric Meter Market Analysis, Insights and Forecast By Region (USD Billion)
6. North America Smart Electric Meter Market Analysis, Insights, and Forecast, 2015-2026
6.1. Key Findings / Summary
6.2. Market Analysis, Insights, and Forecast By Type (USD Billion)
6.2.1. Advanced Metering Infrastructure
6.2.2. Auto Meter Reading
6.3. Market Analysis, Insights and Forecast By Application (USD Billion)
6.3.1. Residential
6.3.2. Commercial
6.3.3. Industrial
6.3.4. Others
6.4. Market Analysis, Insights and Forecast By Country (USD Billion)
6.4.1. U.S.
6.4.2. Canada
7. Europe Smart Electric Meter Market Analysis, Insights, and Forecast, 2015-2026
7.1. Key Findings / Summary
7.2. Market Analysis, Insights, and Forecast By Type (USD Billion)
7.2.1. Advanced Metering Infrastructure
7.2.2. Auto Meter Reading
7.3. Market Analysis, Insights and Forecast By Application (USD Billion)
7.3.1. Residential
7.3.2. Commercial
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
Click here to get the short-term and long-term impact of COVID-19 on this Market.
https://www.fortunebusinessinsights.com/enquiry/covid19-impact/smart-electric-meter-market-100749
(Have a Look at Reports Trending in “Energy and Power“Industry)
View Related Reports:
Oilfield Service Market Size, Industry Share and Growth Rate 2018-2026
What are the segments booming in Artificial Lift System Market?
About us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
At Fortune Business Insights™ we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.308, Supreme Headquarters,Survey No. 36, Baner,Pune-Bangalore Highway,Pune – 411045, Maharashtra, India.
Phone:
US: +1 424 253 0390UK: +44 2071 939123APAC: +91 744 740 1245
Email: sales@fortunebusinessinsights.comFortune Business Insights™LinkedIn | Twitter | Blogs
Press Release Distributed by The Express Wire
To view the original version on The Express Wire visit Smart Electric Meter Market Reports, Scope, Methodology, Timelines And Challenges Forecast Till 2026