Smart Electricity Meters Market Size, Emerging Trends, Analysis and Forecasts 2027

Felton, California , USA, Nov 22 2021 — /EPR Network/ — Global Smart electricity meters market report offers the latest industry trends, technological alteration and forecast data. A deep-dive view of Smart electricity meters industry based on its size, growth, development plans, and opportunities is offered by this report. The forecast information, SWOT analysis, Smart electricity meters barriers, and feasibility study are the vital aspects evaluated in this report.

 

The global smart electricity meters market size is projected to account for USD 18.9 billion by 2027, as per a new report published by Million Insights. It is likely that the market would register 7.8% CAGR over the forecast duration. The demand for energy security is gaining traction in the energy sector. With the advent of renewable energy sources, this demand has been addressed to some extent. However, owing to the limitation in energy sources, it becomes vital to focus on conservation of energy. Intelligent meter solution helps in controlling and analyzing the consumption of power, thereby, it is being increasingly adopted across the world.

 

Get Free PDF Sample (Including Full TOC, List of Tables & Figures) @ https://www.millioninsights.com/industry-reports/smart-electricity-meters-market/request-sample

 

By providing real-time consumption and pricing data, smart meters prove to be vital for commercial applications. In addition, smart meters are the fundamental elements of the smart grid network. These intelligent grids are used to control and monitor the transmission systems. In the recent past, there has been rapid initialization of smart grids across different parts of the world, which in turn, offers lucrative growth opportunity.

 

Considering the rising demand for electricity conservation, governments across the globe are framing stringent regulatory norms. For example, smart electricity metering solutions have been mandated in the European region which has led to an increase in the adoption of smart meters. By 2020, over 70% of the households are projected to have smart electricity meters in Europe. Rising adoption of smart meters is attributed to the benefits such as monitoring of power quality, energy prepayment, time-based pricing and net metering among others.

 

Know More Insights @ https://newsonmarketblog.wordpress.com

Matched content

Editor’s pick

Express Press Release Distribution