The smart electric meter market size has the potential to grow by USD 7.60 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 11.79%.
This report provides a detailed analysis of the market by end-user (residential, commercial, and industrial), geography (APAC, North America, Europe, South America, and MEA), and key vendors.
Market Overview
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Market Competitive Analysis
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- Aclara Technologies LLC
- Honeywell International Inc.
- HPL Electric and Power Ltd.
- Itron Inc.
- Landis+Gyr AG
- MosChip Technologies Ltd.
- Schneider Electric SE
- Simpson Electric
- STMicroelectronics NV
- Xylem Inc.
The smart electric meter market is fragmented and the vendors are deploying growth strategies such as R&D to compete in the market. Click here to uncover other successful business strategies deployed by the vendors.
The market players also significantly leverage external market drivers such as rising deployment of smart grid projects to achieve growth opportunities. However, factors such as high cost of the product will challenge the growth of the market participants. To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
Download a free sample of the smart electric meter market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies,
This smart electric meter market analysis report also provides detailed information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
Smart Electric Meter Market: Key Drivers and Trends
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Smart Electric Meter Market: Segmentation by Geography
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34% of the market’s growth will originate from APAC during the forecast period. China and India are the key markets for smart electric meter in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The strict governmental norms and evolution of smart cities are the prime factors that will facilitate the smart electric meter market growth in APAC over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report.
Smart Electric Meter Market: Segmentation by End-user
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Factors such as the rise in global population, urbanization rates, employment levels, and improvements in the standard of living are contributing to the growth of the industry segment in the coming years, which is consequently resulting in the growing demand for electricity worldwide. Moreover, the increased initiatives by the respective legislative bodies to implement smart metering in residential spaces, the rise in proposals for the establishment of smart grids on a regional level, and mandates regarding the replacement of traditional analog installed meters also impact the demand in residential sectors. Therefore, the growth of the market segment is expected to be significant during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the smart electric meter market size. Fetch actionable market insights on post COVID-19 impact on each segment.
Smart Electric Meter Market: Key Highlights of the Report for 2021-2025
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will drive smart electric meter market growth during the next five years
- Precise estimation of the smart electric meter market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the smart electric meter industry across APAC, North America, Europe, South America, and MEA
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of smart electric meter market vendors
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