Global Smart Electricity Meter Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027

MarketResearch.biz delivers in-depth insights on the global smart electricity meter market in its upcoming report titled, “Global Smart Electricity Meter Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027”. The smart electricity meter market is estimated to register a CAGR of XX.X% in terms of value during forecast period 2018–2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global smart electricity meter market is segmented on the basis of end-use, and region.

Smart electricity meter is a next generation technology that measures electricity consumption of a home or a building. Smart electricity meter is an internet capable device, which not only records daily consumption of energy but also helps in managing energy distribution and provides two-way communication between the building and utility infrastructure.

Increasing demand for advanced energy data monitoring systems, and growing demand for energy security systems are major factors driving growth of the global smart electricity meter market. In addition, government mandates towards deployment of smart meters especially in North America and Europe region is another factor driving growth of the global market. Moreover, increasing penetration of internet of things (IoT) and rising adoption of cloud based services and solutions are some other factors expected to further propel growth of the target market over the forecast period.

High initial cost of setting up smart electric meters is a major factor restraining growth of the global smart electricity meter market. In addition, consumer resistance towards adoption of new technology in some countries across the globe and lack of proper network connectivity could lead to improper working of smart electricity meters. This factors are expected to hamper growth of the global market to a certain extent over the forecast period. Increasing deployment of smart cities across the globe is the current trend observed in the market. This factor is expected to present potential opportunities to major vendors and manufacturers in the global market over the forecast period.

North America dominates the global smart electricity meter market in terms of revenue and is expected to maintain its dominance over the forecast period. This growth can be attributed to government mandates towards deployment of smart electricity meters and increasing adoption of smart technology in countries in this region. The Europe smart electricity meter market accounts for second highest revenue share in the global market and is expected to witness considerable growth over the next 10 years. The market in Asia Pacific is expected to witness significant growth in terms of revenue and is projected to register a CAGR of XX.X% over the next 10 years. This growth can be attributed to increasing government initiatives and investment towards deployment of smart cities in countries in this region.

Global Smart Electricity Meter Market Segmentation:

Segmentation on the basis of end-use:

• Residential
• Commercial
• Industrial

 Segmentation on the basis of region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa