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

MarketResearch.biz delivers in-depth insights on the Global smart meter market in its upcoming report titled, “Global Smart Meter Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027”. The global smart 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 meter market is segmented on the basis of type, application, and region.

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An internet capable device used to measure and provide consumption details of gas, electricity, and water of a building to the energy supplier in order to generate accurate energy bills is called a smart meter. Smart meter is a next generation technology that enables consumers to track their energy consumption on daily basis via internet or a mobile application.

Governments initiatives towards deployment of smart grid network across the globe is a major factor driving growth of the global smart meter market. In addition, increasing demand for advanced energy management systems, coupled with growing demand for energy conservation are other factors further driving growth of the global market. Moreover, increasing adoption of cloud-based services and internet of things (IoT) devices is another factor expected to further drive growth of the global market to certain extent over the forecast period.

High installation and maintenance costs are major factors restraining growth of the global smart meter market. In addition, lack of awareness and lack of proper internet connectivity in some countries across the globe are other factors expected to hamper growth of the global market to a certain extent over the forecast period. Government initiatives towards deployment of smart cities globally is the current trend in the market. This factor is anticipated to present opportunities to major manufacturers in the global market over the forecast period.

North America accounts for highest share in the global smart meter market in terms of revenue and is expected to maintain its position over the forecast period. Government initiatives towards deployment of smart meters by 2020 and presence of major manufacturers and vendors in this region are major factors driving growth of the North America smart meter market. The Europe smart 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 highest growth in terms of revenue and is projected to register a CAGR of XX.X% over the next 10 years.

Global Smart Meter Market Segmentation:

Segmentation on the basis of application:

• Smart energy meters
• Smart water meters
• Smart gas meters

Segmentation on the basis of application:

• Residential
• Commercial
• Industrial

 Segmentation on the basis of region:

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