Smart electric meter market trends are predicted to grow exponentially in the coming years. In-fact Analysts foresee a mass acceptance of this environment-friendly and cost-effective technology in the electric domain, which will have a pronounced impact on the global smart electric meter market trends.
Elaborating further, the recent years have remarkably witnessed smart meters penetrating the utilities domain mainly on the cusp of rapid growth in industrial IoT. The technology adoption has ensured a more accurate real-time power diagnostics and billing. These meters are enabling consumers to optimally utilize the energy, further reducing the overall carbon emissions.
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Particularizing on the geographical landscape, the year 2017 witnessed China accounting for more than 70% of smart electric meter market share across the Asia Pacific belt. Reports claim that the country’s 12th and 13th five-year plan that includes development of smart cities has generated extensive demand for effective water and electricity monitoring, which in turn have positioned China into a favorable business ground for smart electric meter market players. Add to it, the Asian Development Bank’s support in smart meter roll-outs in line with the adoption of smart-grid & sustainable technologies have phenomenally impacted the regional trends.
U.S. smart electric meter market is set to witness robust growth owing to the rising energy prices coupled with shifting focus toward billing accuracy. Significant encouragement by the policymakers and regulators toward the adoption of smart electrical technologies will augment the industry growth. As per the EIA’s Residential Energy Consumption Survey in 2015, the adoption of residential smart meters in the U.S. was estimated to be around 40%. Further, it has been analyzed that the electric utilities had installations of more than 70 million AMI units across the country till 2016.
Increasing acceptance of renewables across the decentralized and centralized grid infrastructure will propel the AMI smart electric meter market share. Several countries have passed distinct legislations mandating the installation of Advanced Metering Infrastructure meters as a part of their energy conservation initiatives. In 2011, the Government of UK designed a policy framework and initiated a rollout strategy toward the adoption of smart meters. The Smart Metering Implementation Programme involves the upgrade and replacement of over 50 million gas and electricity meters by the end of 2020.
Growing measures toward energy efficient products adoption coupled with shifting trends toward digital economy will drive the UK smart electric meter market. Introduction of stringent emission norms have created competitive business scenario for the leading manufacturers to develop sustainable technologies. The UK Energy Efficiency Directive’s Article 9-11 offers rules on devices related to billing information and metering that is required to be provided to the end users.
In 2017, China accounted for over 70% of the smart electric meter market share across the Asia Pacific region. Shifting focus toward energy efficient technologies coupled with increasing penetration of smart technologies will complement the industry landscape. In the 13th five-year plan of China, introduced several smart city projects that involves the adoption of smart meters across the electric and water networks.
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Major players across the smart electric meter market include Iskraemco, Circutor, Apator, Kamstrup, Aclara, Neptune, Sensus, Badger Meter, Honeywell International, Osaki, Schneider, Itron, Siemens, and Landis+Gyr.
Glimpse of Table of Content (ToC)
Chapter 3 Smart Electric Meter Industry Insights
3.1 Industry segmentation
3.2 Industry landscape, 2013 – 2024 (USD Million)
3.3 Industry ecosystem analysis
3.3.1 Vendor matrix
3.4 Innovation & technology landscape
3.5 Regulatory landscape
220.127.116.11 American Recovery and Reinvestment Act (ARRA)
18.104.22.168 The Smart Metering Implementation Programme
22.214.171.124 The Smart Energy Code
126.96.36.199 The Energy Efficiency Directive
188.8.131.52 The National Smart Metering Programme
184.108.40.206 Fourth Basic Energy Plan
3.6 Industry impact forces
3.6.1 Growth Drivers
220.127.116.11 Favorable government regulations
18.104.22.168 Renewable energy integration to smart grid infrastructure
22.214.171.124 Controlled energy consumption
126.96.36.199 Rising demand for renewable energy and effective transmission facilities
188.8.131.52 Better security against electricity theft
3.6.2 Industry pitfalls & challenges
184.108.40.206 End-user resistance
220.127.116.11 Cost outweighing savings
3.7 Growth potential analysis
3.8 Price trend analysis, by technology
3.9 Price trend analysis, by region
3.9.1 North America
3.9.3 Asia Pacific
3.9.4 Middle East & Africa
3.9.5 Latin America
3.10 Communication protocols used in AMI/AMR
3.10.1 Automatic Meter Infrastructure (AMI)
3.10.2 Automatic Meter Reading (AMR)
3.11 Porter’s Analysis
3.12 Competitive Landscape, 2017
3.12.1 Strategy Dashboard
18.104.22.168.1 Product Development
22.214.171.124.2 Long-term contracts
126.96.36.199.3 New Product Launch
188.8.131.52.1 Strategic Partnership
184.108.40.206.2 New Product Launch
220.127.116.11.1 Global Expansion
3.13 PESTEL Analysis
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