Smart electricity meters are a device used to measure the most accurate amount of electricity consumed by a residence, business, or any electrically-powered device. It is a reliable source for accurate information of consumed energy that reduces the chance of error in the existing billing system to minimal. Smart meters include first-generation smart meters also called AMR meters and second-generation smart meters also called AMI meters. AMR offers for self-health check of the meter, data communication using secure and open standard protocols, and others. On the other hand, AMI meters offer effective utilization and management of metering data, automatic management of meters, and others.
This growth is primarily driven by Growing Replacement of Electrochemical and Old Meters and Renewable Integration and Energy Management Practices.
Globally, a noticeable market trend is evident Need for the Accurate Measurement of Electricity Consumption
. Major Manufacturers, such as Schneider Electric (France), Landis+Gyr (Switzerland), Itron (United States), General Electric (United States), Elster Group SE (United States), Kamstrup (Denmark), Electronics B2B (India), CyanConnode Holdings (United Kingdom) and Genus Power Infrastructures Ltd. (India) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 29th September 2021, Landis+Gyr has acquired Luna Elektrik Elektronik Sanayi ve Ticaret, a provider of smart metering devices and solutions for water, heat, and electricity. The acquisition is owing to expand Landis+Gyr’s smart metering business in all that countries where the company has a footprint. The acquisition helps Landis+Gyr to exploit opportunities in the Turkish smart meter industry.
On 30th March 2021, Itron has launched a residential smart electricity meter named eHZ-B for the German market. eHZ-B is built with innovative functionality to fund Germany’s ongoing energy transition to a low carbon, environmentally sound, reliable, and affordable energy supply, etc. The new launch is owing to the cities to safely migrate to a smart and connected distribution network.
- Growing Replacement of Electrochemical and Old Meters
- Renewable Integration and Energy Management Practices
- Need for the Accurate Measurement of Electricity Consumption
- Rapidly development of Smart Cities and Smart Grids
- Smart Meters Put Human Meter Readers Out of Work
Increasing Demand for Smart Electricity Meters and Government Initiatives for Efficient Utilization of Present Generation Capacity
The Security Related Risk of Metering Data
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Manufacturers landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Smart Electricity Meters Study Sheds Light on
The Smart Electricity Meters Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Smart Electricity Meters industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Smart Electricity Meters industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.
Frequently Asked Questions (FAQ):1. What is the growth rate predicted for the Global Smart Electricity Meters Market?
The Smart Electricity Meters market is expected to see a CAGR of % during projected year 2020 to 2026.
2. Who are the top performing companies in Smart Electricity Meters Market?
Top performing companies in the Global Smart Electricity Meters market are Schneider Electric (France), Landis+Gyr (Switzerland), Itron (United States), General Electric (United States), Elster Group SE (United States), Kamstrup (Denmark), Electronics B2B (India), CyanConnode Holdings (United Kingdom) and Genus Power Infrastructures Ltd. (India), to name a few.
3. Which region dominated the worldwide market for Smart Electricity Meters in 2020?
is dominating the Smart Electricity Meters Market.