Smart Meters Market is projected to be worth USD 43.31 Billion by 2027, registering a CAGR of 8.93% during the forecast period (2021 – 2027), The market was valued at USD 21.25 billion in 2020.
The Smart Meters Market Report by Market Research Future (MRFR), states different factors that can impact the market across the assessment period, along with the impact of COVID-19 on it. The rise of the Smart Meters Market Size and change in the Smart Meters Market Share in different regions are expected are elaborated in the report.
The increase in popularity of smart meters due to the growing awareness about its high accuracy meter readings and real time results can underpin the expansion of the world market in the years to come. The high real-time results in smart meters that are used send messages in wireless connections and automatically to provider can impel the expansion of the market through the review period.
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The segment study of the world smart meters market are application, type, and technology.
The type based segments of the smart meter market are electric meters, water meters, and gas meters. The electric meters segment can rise at a high pace across the evaluation period. The electric smart meter type segment can rise at 55.6% CAGR and the gas meter market segment can rise at 9.56% CAGR in the forecast period.
The technology based segments of the smart meter market are automatic meter reading (AMR) and advanced metering infrastructure (AMI). The AMI segment of the market is likely to rise at 9.77% CAGR in the forecast period due to high utility of new technologies.
The application based segments of the smart meter market are commercial, residential, and industrial. The residential segment can thrive at 9.81% CAGR in the review period as passenger transportation rise.
Detailed Regional Analysis
The smart meter market in the Asia Pacific region can rise at a high pace due to increase in smart cities projects across economically powerful regions APAC, such as Thailand and India. The high need for energy by the expanding population and enhancements in the way of living of people the region can promote the expansion of APAC smart meter market in the years ahead.
The surge in T&D and demand levels across the market can promote the growth of the market. The smart meter market in Asia Pacific 9.91% CAGR in the assessment period. In North America, the smart meter market is likely to rise at high pace as power transmission & distribution holds the key to smart grid technology consumers.
In Europe, the expansion of the smart meters market can underline the regional growth. The expansion of Europe smart meter market can be attributed to increase in the demand for electricity across major towns in the region. The escalation of population level and changes in lifestyle can push the growth of the regional market through the assessment period. The regional smart meters market can rise at 9.91% CAGR in forecast period.
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The report mentions several forces that along with influence of COVID-19 pandemic on smart meters market across the globe. Business strategies of key players are elaborated in the report.
Tables Of Contents
1 Executive Summary
2.1 Definition 15
2.2 Scope Of The Study 15
2.3 Assumptions 15
2.4 Market Structure 16
3 Research Methodology
3.1 Research Process 17
3.2 Primary Research 18
3.3 Secondary Research 18
3.4 Market Size Estimation 18
3.5 Forecast Model 20
List Of Tables
TABLE 1 MARKETSSS SYNOPSIS 14
TABLE 2 GLOBAL SMART METERS MARKET, BY TYPE, 2020-2027 (USD MILLION) 32
TABLE 3 GLOBAL SMART METERS MARKET, BY TECHNOLOGY, 2020-2027 (USD MILLION) 36
TABLE 4 GLOBAL SMART METERS MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 39
TABLE 5 GLOBAL SMART METERS MARKET, BY REGION, 2020-2027 (USD MILLION) 43
TABLE 6 NORTH AMERICA: SMART METERS MARKET, BY COUNTRY, 2020-2027 (USD MILLION) 44
TABLE 7 NORTH AMERICA: SMART METERS MARKET, BY TYPE, 2020-2027 (USD MILLION) 45
TABLE 8 NORTH AMERICA: SMART METERS MARKET, BY TECHNOLOGY, 2020-2027 (USD MILLION) 46
TABLE 9 NORTH AMERICA: SMART METERS MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 46
TABLE 10 U.S.: SMART METERS MARKET, BY TYPE, 2020-2027 (USD MILLION) 47
TABLE 11 U.S.: SMART METERS MARKET SIZE, BY TECHNOLOGY, 2020-2027 (USD MILLION) 48
TABLE 12 U.S.: SMART METERS MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 48
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