Global Smart Meter Market Projected to Reach USD 19.1 Billion by 2024

New York, USA, 2018-Dec-01 — /EPR Network/ —

Global smart meter market is witnessed to be propelling on the back of collection & integrating the utilities information on real time basis and using the data to manage the operational technologies. According to Goldstein Research, Smart Meter Market size is expected to reach USD 19.1 billion by 2024, growing at a compounded annual growth rate of 8.25% during the forecast period 2016-2024. Global smart meter market segmentation has been carried out on the basis of smart meter type, technology, end user and geography. Based on smart meter type, smart electric meters segment dominated the global Smart Meter Market Share with 40.0% in 2016.

Smart electric meters market is registering a growth of 9.7% CAGR over the forecast period. The advancement & developments in the global smart grid market is rising the number of electric smart meters installations. Further, Global smart meter industry is estimated to be dominated by Asia Pacific with a market share of 35.0% in 2016. China accounts for highest revenue contribution in the Asia Pacific smart meter market due to fast development of sustainable energy plants. Asia Pacific is further followed by Europe market share owing to increasing investments in region for the installation of smart meters.

Browse Full Report: 

https://www.goldsteinresearch.com/report/global-smart-meter-market-share

Market Segmentation

On the basis of our in-depth analysis, Global Smart Meter Market can be segmented as follows:

By Type

  • Smart Electric Meters
  • Smart Water Meters
  • Smart Gas Meters

By Technology

  • Automatic Meter Reading (AMR)
  • Advanced Metering Infrastructure (AMI)

By End User

  • Industrial
  • Commercial
  • Residential

By Region

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

 “Global Smart Meter Market Outlook 2024” contains a detailed overview of the global smart meter market. On the basis of our in-depth analysis, the market can be segmented in terms of market segmentation by smart meter type, technology, and end user.

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https://www.goldsteinresearch.com/request-sample/global-smart-meter-market-share

Further, for the in-depth analysis, Global Smart Meter Market Report encompasses the market growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis. This market report also includes competitive outlook of some of the major players profiling of companies such as Itron, Inc., Kamstrup A/S, Sensus, GE Digital Energy, Holley Metering, Ltd., Honeywell International, Elster, Landis + Gyr, Echelon, Schieder Electric and Toshiba Corporation. Other high-flying vendors in the market are Xemtec, Secure Together, Kamstrup, Sagemcom, Iskraemeco, etc.

The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services, and industries catered, financial analysis of the company and recent developments. Overall, the report represents the global smart meter market trends along with the market forecast that will help market consultants, technology providers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.

Smart Meter Market is driving on the basis of advancement in branches mentioned below Industries:

Smart Grid Market

The emerging technologies in the telecommunication and energy sector coupled with high investments from the government and market players in the development of smart grid across the globe are together driving the growth of Smart Grid Industry. According to Goldstein Research, global smart grid market  size is expected to reach USD 86.6 billion by 2024 from an estimated USD 32.4 billion in 2015, growing at a robust CAGR of 13.15% during the forecast period 2016-2024. In 2015, total investments for smart grid was approx.

Electric Transmission and Distribution Equipment Market

Increasing demand for energy from residential, commercial and industrial applications, there is growing advancement in the electric transmission and distribution (T&D) technology. Modernization in the electric grid and the technological advancement of T&D equipment are the major driving factors in the growth of the market. The global Electric T & D Equipment Market is set to reach nearly USD 312 billion by 2024, growing at a CAGR of 6.41% over the forecast period (2017-2025).

Smart Electric Meter Market 

The global Smart Electric Meter Market is expected to reach USD 15.12 billion by 2024, growing at a CAGR of 9.7% over the forecast period 2016-2024. The development of a smart grid across the globe is driving the demand for a smart electric meter for the effective networking, transmission, and distribution of power.

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