A new Report by Delvens, titled "Smart Meter Market” offers a comprehensive analysis of the industry, which comprises insights on the Global analysis. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global smart meter market size was valued at USD 21.13 billion in 2019 and is projected to reach a CAGR of 9.40% during the forecast period.
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Smart meters are electronic devices that accurately monitor electricity, gas, and water usage. These smart meters can send usage information through power line communication, radiofrequency electromagnetic radiation (RF), and cellular communication, helping the utility company to effectively manage the energy usage. Smart meters offer a host of benefits such as reduction of meter reading cost, preventing disconnection, removing inefficiencies in billing, and re-connection costs to corporations and consumers.
Large scale installations of the smart meters by the utility companies and supportive government policies and financial incentives are some of the factors that have supported long-term expansion for Smart Meters Market.
Regional Analysis
Asia Pacific is the largest smart meters market in the world, predominantly due to China, and the trend is expected to be the same during the forecast period. The market in the region is driven by the growing emphasis to reduce carbon emissions from utility operations and effectively integrate DER such as solar and wind power for enhanced power sector operations.
Key Players of Smart Meter Market
· Itron Inc.
· Landis+Gyr
· Schneider Electric SA
· Siemens AG
· Badger Meter
· EDMI
· Holley Metering Limited
· Neptune Technology Group Inc.
· Sensus
· Honeywell International Inc. and More
Recent Developments
In January 2020, Landis+Gyr introduced Revelo electric meters with advanced grid sensing technology.
In January 2020, Itron launched a 4G LTE smart metering solution that provides broad territory coverage, low latency, and network longevity using 4G LTE technology.
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