The global smart electricity meters market is anticipated to reach USD 49.9 billion by 2025,
according to a new report by Grand View Research, Inc. The rising demand of
energy security has been prevailing in the energy sector from a long time.
Renewable energy
generation has sufficed this demand to a greater extent, but the energy
provided by such systems is intermittent, and thus energy conservation and
efficient utilization of energy are the key aspects of energy security. Smart
meters deliver instantaneous data which can be analyzed, and the consumption
can be controlled stabilizing the energy demands.
The increasing
regulatory initiatives to install the smart meters in various regions around
the globe is likely to spur the market demand over the forecast period. Smart
meters are a fundamental component of a smart grid network. The smart grids are
used to monitor and control the transmission system, which is an enhancement
over the conventional electrical network. Initialization of smart grids in
various regions is expected to fuel the demand for smart meters over the
forecast period.
The commercial segment
is largely profited by these smart systems as they assist in increasing the
energy efficiency by providing real-time pricing and consumption data display
which is directly related to the spending of the segment. However, factors,
such as electricity theft are likely to restrain the market growth. Smart
Electricity Metering mandates have been established for the European Union with
rollout plans set by the Commission for Energy Regulation, among other
legislative bodies.
Browse full report by Grand View
Research :
Further key findings from the report suggest:
·
The growing adoption of smart grids by
several regions is anticipated to drive the market
·
The residential segment is expected to
portray high growth rate with a CAGR of 5.9% over the projected period.
·
The European regional market is expected to
have significant growth over the forecast period, owing to the large-scale
adoption of smart meters.
·
The key players in the market include ABB
Ltd, General Electric Company, Holley Metering Ltd, Elster Group, Iskraemeco,
Itron Inc., Landis+Gyr, Schneider Electric and Siemens AG.
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/electronic-devices
Grand View Research has
segmented the Smart Meters market based on structure, offering, growing
mechanism, and regions:
Smart Electricity Meters End Use Outlook (Revenue, USD
Million;Volume, Million Units; 2014 - 2025)
·
Residential
·
Commercial
·
Industrial
Smart Electricity Meters Regional Outlook (Revenue, USD
Million;Volume, Million Units; 2014 - 2025)
·
North America
o U.S.
o Canada
o Mexico
·
Europe
o Germany
o UK
o France
o Italy
o Spain
o Netherlands
·
Asia Pacific
o China
o Japan
o South Korea
·
South America
o Brazil
·
The Middle East and Africa (MEA)
Access
press release by Grand View Research: http://www.grandviewresearch.com/press-release/global-smart-electricity-meters-market
About
Grand View Research
Grand View Research, Inc. is a U.S. based
market research and consulting company, registered in the State of California
and headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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