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Market Overview
The Smart
Meters MarketReport 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.
As per MRFR study, the global market of smart
meters is expected to rise at 8.20% CAGR in the years to come. MRFR findings
show that the world market of smart meters value can worth USD 40.85 Bn by 2032.
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.
Key Players
·
Siemens AG. (Germany)
·
Schneider Electric (France)
·
Landis+Gyr (Switzerland)
·
Aclara Technologies LLC (U.S.)
·
Xylem Inc. (US)
·
Badger Meter Inc. (US)
·
Itron Inc. (US)
·
Honeywell International Inc. (US)
·
EDMI (Singapore)
·
DIEHL Metering (Germany)
·
Apator Group (Poland)
·
Kamstrup A/S (Denmark)
·
Zenner (Germany)
Segmental Analysis
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 Advanced
metering infrastructure market Sizein 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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