Albany, NY -- (SBWIRE) -- 02/14/2018 -- Introduction to Smart Electric Meter in Lighting
A smart electric meter is an electronic device that records consumption of electric energy in intervals of an hour or less and conveys that information at least daily back to the utility. It is a new kind of electricity meter that can digitally send meter readings to the energy supplier. Smart electric meters use a secure national communication network called as DCC to automatically and wirelessly send actual energy usage to the supplier. Smart meters will also come with an in-home display. This display gives real-time usage information to each household, including kWh use and related cost.
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Smart Electric Meter in Lighting Market Drivers
There are various factors which driving the growth of smart electric meter in lighting market. Some of the key factors are increasing investments in renewable power projects, growth in transmission & distribution expenditure and rise in smart grid infrastructural developments across the globe. One of the crucial factor which is driving the smart electric meter market for lighting is increase in the energy prices and growing instances of electricity theft which will further boost product demand of Smart electric meter.
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Other factors accelerating the growth of the smart electric meter market for lighting are changing technology, growing demand, and changes in consumer preferences towards the meters with high efficiency. This growing demand for electric meter has ensured that all the major key players have updated with the trends of the market and innovate accordingly.
Smart Electric Meter in Lighting Market Segmentation
The smart electric meter in lighting market is segmented on the basis of application, technology, phases and geographical region.
On the basis of application in lighting, smart electric meter is segregated into residential, commercial and industrial. Furthermore, the market is divided based on technology into advent of automatic meter reading (AMR) and advanced metering infrastructure (AMI). On the basis of phase the market of smart electric meter is further bifurcated into single phase meter and three phase meter.
Geographically, smart electric meter in lighting market is distributed over North America, Europe, South America, Asia Pacific, and Middle East & Africa. Europe is expected to dominate the smart electric meter market, owing to the increased installations of the smart electric meters which is in lines with its proposed 20:20:20 plan's targets.
Key players in the lighting market for smart electric meter are Schneider Electric, Iskraemeco, EKM Metering, Advanced Electronics Company, Holley Metering, Jiaxing Eastron Electronic Instruments, Elster Group (owned by Honeywell), Kamstrup, LINYANG Energy, Simpson Electric, Murata Power Solutions, Landis Gyr and so on.