Global Digital Power Meter Market 2017-2021

Overview of the global digital power meter market

Technavio’s market research analyst predicts the global digital power meter market to grow steadily at a CAGR of around 5% by 2021. One of the primary drivers for this market is the rise in the deployment of smart grid projects. Smart grids include grid applications such as smart power meters, supervisory control and data acquisition (SCADA) systems, IT, and other communication networks. These devices enable utilities to have complete control and manage the digital assets that are present in the field. The smart grid networking systems enable a utility to analyze and map the energy consumption patterns of its customers, thereby helping in load forecasting and peak demand management along with risk determination. Also, it enables the reduction of power outages by providing detailed information about the functioning status of the power system network. With rapid development in smart grid-related equipment and solutions, management of huge data volumes has become a major concern among power utilities. This development of the smart grid projects worldwide is expected to propel growth in the global digital power meter market during the forecast period.

One of the latest trends gaining traction in this market is the development of global system for mobile communications (GSM)-based automatic meter reading (AMR). The GSM technology also provides services like general packet radio service (GPRS) and short message service (SMS) wirelessly. This technology is less costly and is simple in comparison with the rest of the technologies. It requires less human interaction and has a wide operating distance. Moreover, other technologies like ZigBee, power-line communication (PLC), SCADA, and microwave access (WiMAX) are expected to further propel the growth of the global digital power meter market in the coming years.

Competitive landscape and key vendors

The market is fragmented with the presence of many well-diversified international, regional, and local vendors, and the competition among these players is intense. In several developing and underdeveloped countries, local or regional vendors dominate the market. With the global players increasing their footprint in the market with their huge infrastructure and R&D support, it has become extremely difficult for regional players to compete in terms of reliability, technology, and price.  

Leading vendors in the market are –

• Itron
• Landis+Gyr
• Schneider Electric
• Sensus

Other prominent vendors in the digital power meter market include Advanced Electronics Company, EKM Metering, Elster Group (owned by Honeywell), Holley Metering, Jiaxing Eastron Electronic Instruments, Kamstrup, LINYANG Energy, Murata Power Solutions, and Simpson Electric.

Segmentation by end-user and analysis of the digital power meter market

• Residential
• Commercial
• Industrial

During 2016, the residential segment dominated the digital power meter market and accounted for a major part of the overall market share. Rapid urbanization coupled with the urgency in completing meter installations before the expiry of government grants is one of the key contributors to the growth of this segment in the global market.

Geographical segmentation and analysis of the digital power meter market

• Americas
• APAC
• EMEA

In this market study, analysts have estimated APAC to dominate the digital power meter market during the forecast period. Factors such as the growth in residential construction in the region, supportive regulatory actions, and rising disposable incomes are few of the significant contributors to the growth of this region in the digital power meter market. 

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global digital power meter market?
• What are the key market trends impacting the growth of the global digital power meter market?
• What are the challenges to market growth?
• Who are the key vendors in the global digital power meter market?
• What are the market opportunities and threats faced by the vendors in the global digital power meter market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global digital power meter market? 

Technavio also offers customization on reports based on specific client requirement.