Electricity meters are devices used to measure and monitor energy consumption in households as well as industrial spaces. These devices have evolved from legacy systems that were electromechanical in nature, to solid state meters that provide two-way communication capabilities along with accurately measuring and reporting energy demand.
Albany, NY -- (SBWIRE) -- 04/04/2016 -- Favorable regulatory conditions are expected to aid in increasing smart meter rollouts over the next few years. Initiatives from governments, other regulatory organizations, as well as electricity utility companies are expected to drive the market over the forecast period. Mandates are set by these legislative bodies in order to prevent energy theft, ensure secure electricity supply, and monitor and control power consumption in households, as well as commercial and industrial locations. Moreover, in countries such as China, there has been significant activity toward up gradation of meters, distribution networks, transmission systems, and generating capabilities and this is aiding the growth of smart meters. Additionally, the high degree of energy efficiency provided by smart electricity meters is expected to positively impact the industry. Globally, the penetration rate of smart meters varies across different regions due to varying impact of regulatory factors. For instance, until now the maximum impact of regulations regarding smart meters was seen in European and North American regions; however; the trend is anticipated to shift increasingly toward Asia Pacific over the coming years. Further, there is a huge opportunity for growth of smart meters in regions such as Latin America, Middle East and Africa as these regions are experiencing huge surge in electricity demand owing to development in economic conditions. Thus, these regions are anticipated to increasingly adapt advanced technology in order to meet energy security needs.
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Rise in demand and installation of smart grids and advanced metering infrastructure are important global market trends providing strong impetus to the growth of smart meters. Further, the smart meters offer enhanced accuracy, two-way communication medium between utility and meters, real-time data feeds, monitoring of power quality and automated outage detection among other features. Utilities are continuously seeking for ways to reduce the operating costs and enhance the efficiency through monitoring of data. Smart meters are aiding this effort by the utilities and thus the utilities themselves are promoting the growth of smart metering infrastructure. Increasing penetration of machine-to-machine technology in both home and industrial smart meter uses is further anticipated to positively impact the growth of smart meters market.
This report analyzes and forecasts the global demand for electricity smart meters in terms of volumes (million units) and revenues (USD million) from 2011 to 2018. The report explains the drivers and restraints affecting the market, along with an analysis of their expected impact on the future growth of this industry. It also provides an analysis of the available market opportunities that could drive the electricity meters industry over the forecast period.
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For the purpose of this study, we have considered only smart meters and not traditional electricity meters as all technological focus was dedicated to smart meter technology. All market dynamics, estimates, forecasts and competitive analysis included in the study pertain only to smart meters.
The report includes value chain analysis for better understanding of the supply chain of smart meters starting from the raw material to the actual meters across various applications. It also includes Porter's five forces analysis to evaluate the degree of competitiveness in the market.
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The report includes an extensive competitive landscape starting from the market share of the global smart meters market to company profiles of the major participants operating in the global market. Key market participants profiled in this report include Itron, Landis+Gyr, Holley Metering Ltd., Jiangsu Linyang Electronics Co., Ltd., General Electric, and so on. The market players are profiled with attributes such as company overview, financial overview, business strategies and recent developments in the field of smart meter technology.
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