GLOBAL SMART ELECTRIC METER MARKET FORECAST 2019-2027

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GLOBAL SMART ELECTRIC METER MARKET FORECAST 2019-2027

A smart electric meter is an electronic device that records consumption of electric energy and communicates the information to the electricity supplier for monitoring and billing. Global smart electric meter market is estimated to grow with 4.45% CAGR during the year 2019 – 2027. The base year considered for the study is 2018 and the estimated period is between 2019 and 2027. The growth of this market is driven by the following factors:

GLOBAL SMART ELECTRIC METER MARKET FORECAST 2019-2027

Global Smart Electric Meter Market by Application (Residential, Commercial, Industrial), by Technology (Amr, Ami) & Geography.

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A smart electric meter is an electronic device that records consumption of electric energy and communicates the information to the electricity supplier for monitoring and billing. Global smart electric meter market is estimated to grow with 4.45% CAGR during the year 2019 – 2027. The base year considered for the study is 2018 and the estimated period is between 2019 and 2027. The growth of this market is driven by the following factors:

  • Rising need for energy conservation products and services.
  • Government initiatives to solve energy need problems by smart electric meters
  • Growth in the smart grid market will push the demand for smart electric meter market.
  • Losses like fraud, theft and costs involved in the manual collection of data are reduced by the smart electric meter.

The important driver increasing growth in the global smart electric market is growing in the smart grid market. To provide secure and efficient energy management on a regional level, utility providers are progressively focusing on the extensive deployment of smart grid systems. The smart electricity meter is the basic element of the smart grid system which can offer bi-directional communication with data collection points. Thus the smart grid market will directly affect the smart electric meter market. The major challenge in the growth of the smart electric meter market is the privacy issue because unlike the traditional meter on most homes, smart electric meters send data from your home back to the power company every 15 minutes. Utilities don’t just learn how much power you use; they can also be alerted in real-time to an outage caused by bad weather. The smart electric meter’s ability to talk back to the utility is a major privacy concern.

The fastest growing segment by technology is AMI. AMI is a more advanced technology when compared with AMR. The former enables two-way communication; it is automated and allows real-time water data for the consumer and the utility. The data is captured several times a day and provides more details and information such as the peak consumption, real-time consumption, and time of use all of which allows better customer management and improved operations. The real-time collection of data also solves one of the biggest problems that is faced by electrical distribution companies. Also, it is easier to find the leaks in the electrical distribution system or the customer-end faster. This means that the leaks can be fixed before it becomes big, thus saving on the expensive repairs. Thus eventually the AMI will replace all the AMR due to its higher benefits compared to AMR.

The main restraint for the smart electric meter market is that is capital intensive. Energy suppliers are required to fund the capital costs of both the smart electric meters and In-Home Display (IHD). They also pay for the installation, operation and maintenance of this equipment plus the communications hub (which links the Smart electric meters to the supplier via the DCC). The roll-out of smart electric meters also requires upfront investment by energy suppliers in supporting IT systems and the DCC, as well as their ongoing operation. Other industry participants such as distribution network operators (DNOs) who will also need to upgrade their systems to integrate into the smart electric meter network. Further costs include the accelerated disposal of basic meters being replaced, the energy consumed by the smart electric meter equipment itself and the launch and support of a consumer engagement strategy. Thus the escalating costs of the installation and maintenance are the major restraints for the smart electric meter market.

The global smart electric meter market segments include

Market by Application    

  • Residential
  • Commercial
  • Industrial

Market by Technology

  • AMR
  • AMI

On the basis of geography, the global smart electric meter market has been segmented into four major regions

The Asia Pacific is the largest and the fastest growing region. China accounts for about 45% of the global smart electric meter market. This is the main reason for the Asia Pacific to be the largest market. While India seems to be a highly untapped market, it is also a big area geographically. India is a huge economy with electric consumption on the rise. There is also various government initiative that the Indian government will undertake. India’s robust economy and untapped market and various advantages of the smart electric meter will cause it to grow at a high rate. India’s growth will be the major reason for the Asia Pacific to be the fastest growing region.

The global smart electric meter market segmented into the market by application and market by technology. The market by application is further subdivided into residential, commercial and industrial. While market by technology is further subdivided into AMR and AMI.

The major market players of the global smart electric meter market are:

  • ABB Ltd.
  • Aclara
  • Holley tech UK
  • Honeywell (Elster)
  • Schneider-Electric
  • Genus power infrastructure
  • Landis+gyr (Toshiba Corporation)
  • Itron

Company Profiles covers analysis of important players. These companies are using organic and inorganic strategies for growth. For instance, In August 2018, Aclara was awarded a contract with National Grid Smart to provide the SMETS2 (smart metering equipment technical specifications: second version) smart electricity meter, the SGM1400, as well as CPA-certified gas meters to National Grid Smart’s customers in the United Kingdom. In September 2018, Genus Power Infrastructures Ltd set up an Advanced Metering Infrastructure (AMI) lab at the recently established Smart Grid Knowledge Centre of Powergrid Corporation of India Limited (PGCIL) at Manesar, Gurgaon. In January 2018, ENGIE China signed a strategic cooperation agreement in Beijing on Tuesday, January 9, 2018, with Jiangsu Linyang Energy Co., Ltd.

Key Findings of the global smart electric meter market.

  • The Asia Pacific is the largest and the fastest growing region
  • Residential is the largest segment by application
  • AMI is the fastest growing market
  1. RESEARCH SCOPE
    • STUDY GOALS
    • SCOPE OF THE MARKET STUDY
    • WHO WILL FIND THIS REPORT USEFUL?
    • STUDY AND FORECASTING YEARS
  2. RESEARCH METHODOLOGY
    • SOURCES OF DATA
      • SECONDARY DATA
      • PRIMARY DATA
    • TOP-DOWN APPROACH
    • BOTTOM-UP APPROACH
    • DATA TRIANGULATION
  3. EXECUTIVE SUMMARY
    • MARKET SUMMARY
    • KEY FINDINGS
      • ASIA PACIFIC IS THE LARGEST AND THE FASTEST GROWING REGION
      • RESIDENTIAL IS THE LARGEST SEGMENT BY APPLICATION
      • AMI IS THE FASTEST GROWING MARKET
  1. MARKET DYNAMICS
    • DEVELOPMENT OF SMART ELECTRIC METER SYSTEM
    • MARKET DEFINITION & SCOPE
    • MARKET DRIVERS
      • RISING NEED FOR ENERGY CONSERVATION PRODUCTS AND SERVICES.
      • GOVERNMENT INITIATIVES TO SOLVE ENERGY NEED PROBLEM BY SMART ELECTRIC METER
      • GROWTH IN THE SMART GRID MARKET WILL PUSH THE DEMAND FOR SMART ELECTRIC METER.
      • LOSSES LIKE FRAUD, THEFT AND COSTS INVOLVED IN MANUAL COLLECTION OF DATA ARE REDUCED BY SMART ELECTRIC METER.
    • MARKET RESTRAINTS
      • SAVING BENEFITS COULD BE NEGLIGIBLE WITH RESPECT TO COSTS INVOLVED.
      • HIGHLY CAPITAL INTENSIVE DUE TO INFRASTRUCTURE NOT IN PLACE.
    • MARKET OPPORTUNITY
      • THE ENERGY SUPPLIER CAN BE ABLE TO GIVE MORE SERVICES TO THE CONSUMERS.
    • MARKET CHALLENGES
      • POSSIBILITY OF DATA LEAK
      • THE MARKET IS IN NASCENT STAGE
  1. MARKET BY APPLICATION
    • RESIDENTIAL
    • COMMERCIAL
    • INDUSTRIAL
  2. MARKET BY TECHNOLOGY
    • AMR
    • AMI
  3. KEY ANALYTICALS
    • PORTER’S 5 FORCES ANALYSIS
      • THREAT OF NEW ENTRANTS
      • THREAT OF SUBSTITUTES
      • BARGAINING POWER OF BUYERS
      • BARGAINING POWER OF SUPPLIERS
      • THREAT OF RIVALRY
    • KEY BUYING CRITERIA
      • COST
      • PROCESSOR
      • RAM SIZE
      • SOFTWARE ADVANTAGES
      • SCREEN RESOLUTION
      • PAYMENT OPTION
    • OPPORTUNITY MATRIX
    • VENDOR LANDSCAPE
    • VALUE CHAIN ANALYSIS
  4. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • UNITED STATES
      • CANADA
    • EUROPE
      • UNITED KINGDOM
      • GERMANY
      • ITALY
      • FRANCE
      • NETHERLANDS
      • RUSSIA
      • SPAIN
      • REST OF EUROPE
    • ASIA PACIFIC
      • INDIA
      • CHINA
      • JAPAN
      • AUSTRALIA
      • SOUTH KOREA
      • REST OF ASIA PACIFIC
    • REST OF WORLD
      • LATIN AMERICA
      • MIDDLE EAST & NORTH AFRICA
      • REST OF AFRICA
  1. COMPANY PROFILES
    • ABB LTD.
    • ACLARA
    • GENUS POWER INFRASTRUCTURE
    • HOLLEY TECH UK
    • HONEYWELL (ELSTER)
    • ISKRAEMECO
    • ITRON
    • JIANGSU LINYANG
    • LANDIS+GYR (TOSHIBA CORPORATION)
    • MICROCHIP TECHNOLOGY
    • NETWORKED ENERGY SERVICES
    • SCHNEIDER ELECTRIC
    • SIEMENS AG
    • WASION GROUP

TABLE LIST

TABLE 1: GLOBAL SMART ELECTRIC METER MARKET, BY GEOGRAPHY, 2019-2027, (IN $ MILLION)

TABLE 2: GLOBAL SMART ELECTRIC METER MARKET, BY APPLICATION, 2019-2027, (IN $ MILLION)

TABLE 3: GLOBAL RESIDENTIAL SMART ELECTRIC METER MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 4: GLOBAL COMMERCIAL SMART ELECTRIC METER MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 5: GLOBAL INDUSTRIAL SMART ELECTRIC METER MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 6: GLOBAL SMART ELECTRIC METER MARKET BY TECHNOLOGY, 2019-2027 ($ MILLION)

TABLE 7: VARIOUS ADVANTAGES OF AMR SYSTEMS

TABLE 8: GLOBAL AMR SMART ELECTRIC MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 9: GLOBAL AMI SMART ELECTRIC MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 10: OPPORTUNITY MATRIX

TABLE 11: VENDOR LANDSCAPE

TABLE 12: GLOBAL SMART ELECTRIC METER MARKET, BY GEOGRAPHY, 2019-2027, (IN $ MILLION)

TABLE 13: NORTH AMERICA SMART ELECTRIC METER MARKET, BY COUNTRY, 2019-2027 (IN $ MILLION)

TABLE 14: EUROPE SMART ELECTRIC METER MARKET, BY COUNTRY, 2019-2027 (IN $ MILLION)

TABLE 15: ASIA PACIFIC SMART ELECTRIC METER MARKET, BY COUNTRY, 2019-2027 (IN $ MILLION)

TABLE 16: REST OF WORLD SMART ELECTRIC METER MARKET, BY REGION, 2019-2027 (IN $ MILLION)

LIST OF FIGURES

FIGURE 1: GLOBAL SMART ELECTRIC METER MARKET BY TECHNOLOGY, 2019-2027 (IN $ MILLION)

FIGURE 2: DEVELOPMENT OF DIFFERENT SMART METER SYSTEM

FIGURE 3: COST BREAKUP OF INSTALLATION FOR SMART ELECTRIC METER NETWORK.

FIGURE 4: REDUCING COST OF LI-ION BATTERY

FIGURE 5: GLOBAL SMART ELECTRIC METER MARKET, BY RESIDENTIAL, 2019-2027 (IN $ MILLION)

FIGURE 6: GLOBAL SMART ELECTRIC METER MARKET, BY COMMERCIAL, 2019-2027 (IN $ MILLION)

FIGURE 7: GLOBAL SMART ELECTRIC METER MARKET, BY INDUSTRIAL, 2019-2027 (IN $ MILLION)

FIGURE 8: GLOBAL SMART ELECTRIC METER MARKET, BY AMR, 2019-2027 (IN $ MILLION)

FIGURE 9: GLOBAL SMART ELECTRIC METER MARKET, BY AMI, 2019-2027 (IN $ MILLION)

FIGURE 10: PORTER’S FIVE FORCE ANALYSIS

FIGURE 11: KEY BUYING CRITERIA

FIGURE 12: VALUE CHAIN ANALYSIS

FIGURE 13: GLOBAL SMART ELECTRIC METER MARKET, REGIONAL OUTLOOK, 2018 & 2027 (IN %)

FIGURE 14: UNITED STATES SMART ELECTRIC METER MARKET, 2019-2027 (IN $ MILLION)

FIGURE 15: CANADA SMART ELECTRIC METER MARKET, 2019-2027 (IN $ MILLION)

FIGURE 16: UNITED KINGDOM SMART ELECTRIC METER MARKET, 2019-2027 (IN $ MILLION)

FIGURE 17: GERMANY SMART ELECTRIC METER MARKET, 2019-2027 (IN $ MILLION)

FIGURE 18: ITALY SMART ELECTRIC METER MARKET, 2019-2027 (IN $ MILLION)

FIGURE 19: FRANCE SMART ELECTRIC METER MARKET, 2019-2027 (IN $ MILLION)

FIGURE 20: NETHERLANDS SMART ELECTRIC METER MARKET, 2019-2027 (IN $ MILLION)

FIGURE 21: RUSSIA SMART ELECTRIC METER MARKET, 2019-2027 (IN $ MILLION)

FIGURE 22: NETHERLANDS SMART ELECTRIC METER MARKET, 2019-2027 (IN $ MILLION)

FIGURE 23: REST OF EUROPE SMART ELECTRIC METER MARKET, 2019-2027 (IN $ MILLION)

FIGURE 24: INDIA SMART ELECTRIC METER MARKET, 2019-2027 (IN $ MILLION)

FIGURE 25: CHINA SMART ELECTRIC METER MARKET, 2019-2027 (IN $ MILLION)

FIGURE 26: JAPAN SMART ELECTRIC METER MARKET, 2019-2027 (IN $ MILLION)

FIGURE 27: AUSTRALIA SMART ELECTRIC METER MARKET, 2019-2027 (IN $ MILLION)

FIGURE 28: SOUTH KOREA SMART ELECTRIC METER MARKET, 2019-2027 (IN $ MILLION)

FIGURE 29: REST OF ASIA PACIFIC SMART ELECTRIC METER MARKET, 2019-2027 (IN $ MILLION)

FIGURE 30: LATIN AMERICA SMART ELECTRIC METER MARKET, 2019-2027 (IN $ MILLION)

FIGURE 31: MIDDLE EAST AND NORTH AFRICA SMART ELECTRIC METER MARKET, 2019-2027 (IN $ MILLION)

FIGURE 32: REST OF AFRICA SMART ELECTRIC METER MARKET, 2019-2027 (IN $ MILLION)

  1. MARKET BY APPLICATION
    • RESIDENTIAL
    • COMMERCIAL
    • INDUSTRIAL
  2. MARKET BY TECHNOLOGY
    • AMR
    • AMI
  3. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • UNITED STATES
      • CANADA
    • EUROPE
      • UNITED KINGDOM
      • GERMANY
      • ITALY
      • FRANCE
      • NETHERLANDS
      • RUSSIA
      • SPAIN
      • REST OF EUROPE
    • ASIA PACIFIC
      • INDIA
      • CHINA
      • JAPAN
      • AUSTRALIA
      • SOUTH KOREA
      • REST OF ASIA PACIFIC
    • REST OF WORLD
      • LATIN AMERICA
      • MIDDLE EAST & NORTH AFRICA
      • REST OF AFRICA

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