Global Smart Electric Meter Market Expected To Observer Major Growth By 2026

The global Smart Electric Meter Market is estimated to observe tremendous expansion owing to the rapid industrialization across the globe. This has led to an upsurge in the electricity demand not only across the industrial sector but also from the residential and commercial sectors. The ongoing expansion of grid infrastructure along with the mounting investments in the digitalization of electrical systems is also likely to increase the demand for smart electric meters. Shifting focus towards the implementation of energy-efficient technologies and ongoing electrification programs should further foster smart electric meters industry share.

Smart electric meters are massively deployed in electric companies owing to their features such as efficient utilization of power resources, allowing dynamic pricing, preventing capital expense in building new power plants, offering responsive data to balance electric loads while decreasing blackouts, and more.

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The three-phase segment is projected to observe tremendous expansion in the smart electric meter market majorly due to the increasing need for power reliability throughout engineering processes such as education, logistics, hospitality, and oil and gas. Three-phase systems are heavily deployed across the residential sector, that has been depicting an expansion due to the rising per capita income and changing lifestyles. Numerous public and private investments are also being made in renewable technologies to curb carbon emissions as well as the expansion of IoT enabled grid networks which should majorly fuel the segment share over the coming years.

 

While three-phase systems are rather effective, the viability provided by single-phase systems is indeed commendable. These systems are often used  in utility aided power networks and high capacity industrial establishments. Ongoing urbanization trends along with the suitable regulatory norms to upgrade small scale industries majorly in the developing economies are likely to proliferate the single-phase systems’ demand through 2026.

 

Considering the regional frame of reference, the immense development in the service sector is projected to push the Middle East and Africa smart electric industry expansion. The expanding real estate sector may also be responsible for pushing the regional growth. Governments across MEA have ben enforcing numerous regulatory initiatives and norms to reduce the non-electricity revenue. With increasing number of power outages in the region and ongoing replacement and upgradation of existing data collection systems having efficient electric meters, MEA is anticipated to emerge as a viable revenue pocket for smart electric meter industry.

 

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Meanwhile, stakeholders across smart electric meter market are implementing numerous strategies such as collaborations and acquisitions to gain a competitive edge over other companies. Leveraging tactics such as geographical expansions and the launch of new products with additional features, companies have been working to increase their revenue and strengthen their stance in the global industry ecosystem.

 

Say for example, in August 2020, Aclara, a renowned smart infrastructure solutions (SIS) supplier company for gas, water, and electric utilities across the world reportedly announced the launch of the first fully certified and compliant (Smart Metering Equipment Technical Specifications 2) SMETS2 polyphase electricity meter series particular for the UK market. This new meter series, which provides three variants, enables UK utilities to automate their meter asset management at a whole reduced cost of ownership.

 

The competitive landscape of the smart electric meter market is inclusive of players such as Schneider Electric, Landis+Gyr AG, Apator, Iskraemeco Group, Circutor SA, Sensus, Osaki Electric Co., Ltd., Honeywell Elster, Siemens, Aclara Technologies LLC, Kamstrup A/S, and Itron Inc. among others.

Browse key industry insights spread across 550 pages with 1095 market data tables and 30 figures & charts from the report, Smart Electric Meter Market in detail along with the table of contents:

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Report Content

Chapter 3    Smart Electric Meter Industry Insights

3.1    Industry segmentation

3.2    Industry ecosystem analysis

3.2.1    Vendor matrix

3.3    Innovation & technology landscape

3.3.1    Aclara Technologies LLC

3.3.2    Siemens

3.3.3    Honeywell Elster

3.3.4    Schweitzer Engineering Laboratories

3.3.5    Sensus

3.3.6    Genus Power Infrastructure Limited

3.3.7    Iskraemeco Group

3.3.8    Itron Inc.

3.3.9    Landis+Gyr AG

3.3.10    Kamstrup A/S

3.3.11    HPL Electric & Power Ltd.

3.4    Regulatory landscape

3.4.1    U.S.

3.4.1.1    American Recovery and Reinvestment Act (ARRA)

3.4.2    Europe

3.4.2.1    EU Directives

3.4.2.2    Third Legislative Package

3.4.2.3    Data Protection Directive

3.4.2.4    Legal processing of the metering data

3.4.2.5    UK

3.4.2.5.1    The Coalition and Conservative Governments

3.4.2.5.2    The Smart Metering Implementation Programme

3.4.2.5.3    The Smart Energy Code

3.4.2.5.4    The Energy Efficiency Directive

3.4.2.5.5    Smart Meter Policy Framework Post 2020

3.4.3    Sweden

3.4.4    Germany

3.4.5    France

3.4.6    Ireland

3.4.6.1    The National Smart Metering Programme

3.4.7    Netherlands

3.4.8    Italy

3.4.9    Asia-Pacific

3.4.9.1    India

3.4.9.1    Meter standards And specifications

3.4.9.2    Retrofitting of old meters

3.4.9.3    Australia

3.4.9.4    China

3.4.10    Japan

3.4.10.1    Fourth Basic Energy Plan

3.4.11    South Korea

3.4.12    Middle East & Africa

3.4.12.1    UAE

3.4.12.2    Oman

3.5    Industry impact forces

3.5.1    Growth drivers

3.5.1.1    Favorable government regulations

3.5.1.2    Renewable energy integration to smart grid infrastructure

3.5.1.3    Effective monitoring & control of energy consumption

3.5.1.4    Limits the electricity theft

3.5.2    Industry pitfalls & challenges

3.5.2.1    End-user resistance

3.6    Growth potential analysis

3.7    Porter’s Analysis

3.7.1    Bargaining power of buyers

3.7.2    Bargaining power of suppliers

3.7.3    Threat of new entrants

3.7.4    Threat of substitutes

3.8    Price trend analysis, By technology (USD/Unit)

3.9    Price trend analysis, By region (USD/Unit)

3.10    COVID-19 impact on the overall industry outlook

3.10.1    Top 10 countries impacted by COVID- 19

3.10.2    Optimistic

3.10.3    Realistic

3.10.4    Pessimistic

3.11    Communication protocols used in AMI/AMR

3.11.1    Automatic Meter Infrastructure (AMI)

3.11.2    Automatic Meter Reading (AMR)

3.12    Competitive Landscape, 2019

3.12.1    Strategy Dashboard

3.12.1.1    Aclara Technologies LLC

3.12.1.1.1    Agreement

3.12.1.1.2    Partnership

3.12.1.1.3    Acquisition

3.12.1.2    IBM

3.12.1.2.1    Agreement

3.12.1.3    Siemens

3.12.1.3.1    Acquisitions

3.12.1.4    Trilliant

3.12.1.4.1    Acquisition

3.12.1.4.2    Agreement

3.12.1.5    Kamstrup A/S

3.12.1.5.1    Partnerships

3.12.1.5.2    Acquisition

3.12.1.5.3    Agreements

3.12.1.6    Osaki Electric Co. Limited

3.12.1.6.1    Partnership

3.12.1.7    Sensus

3.12.1.7.1    Agreements

3.12.1.8    Iskraemeco Group

3.12.1.8.1    Agreements

3.12.1.8.2    Partnership

3.12.1.9    Badger Meter Inc.

3.12.1.9.1    Awards

3.12.1.9.2    Collaborations

3.12.1.10    Genus Power Infrastructure Limited

3.12.1.10.1    Partnership

3.12.1.11    ABB

3.12.1.11.1    Acquisition

3.12.1.12    Itron Inc.

3.12.1.12.1    Agreements

3.12.1.12.2    Acquisition

3.12.1.12.3    Collaboration

3.12.1.13    Landis+Gyr AG

3.12.1.13.1    Partnerships

3.12.1.14    Schneider Electric

3.12.1.14.1    Memorandum of Understanding

3.12.1.14.2    Acquisition

3.12.1.15    HPL Electric & Power Ltd.

3.12.1.15.1    Product Launch

3.12.1.16    General Electric

3.12.1.16.1    Partnership

3.13    PESTLE Analysis

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