Smart Electric Meter Market share to hit $11 billion by 2024 - PowerPoint PPT Presentation

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Smart Electric Meter Market share to hit $11 billion by 2024


Request Sample of Report @ Smart electric meter market from residential application was valued over USD 1 billion in 2016 and is anticipated to witness strong growth by 2024. Increasing consumer focus towards peak time savings of energy will positively impact the industry outlook. These products record the power consumption and communicate to the central utility system, restricting the chance of manipulation of data. – PowerPoint PPT presentation

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Title: Smart Electric Meter Market share to hit $11 billion by 2024

Smart Electric Meter Market forecast to reach 270
million units by 2024 Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
Key Insights from Smart Electric Meter Market
  • Smart Electric Meter Market size is set to exceed
    USD 11 billion by 2024 according to a new
    research report by Global Market Insights, Inc.
    Commercial smart electric meter market shipments
    could exceed 30 million units by 2024.
  • Growing demand for accurate billing coupled with
    efforts towards energy conservation will augment
    the global smart electric meter market growth.
    Rapid development of electricity network along
    with growing investment in smart grid will
    further complement the business landscape.
  • Increasing energy prices and growing instances of
    electricity theft will further boost product
    demand. According to a 2013 IMF report, global
    electricity theft was over USD 100 million.
    Rising concerns towards accuracy in billing among
    end users may positively influence the industry

  • The American Recovery and Reinvestment Act (ARRA)
    mandating strict regulations towards accurate
    billing along with increasing electricity demand
    will stimulate the U.S. smart electric meter
    market size. The U.S. Department of Energy and
    ARRA jointly invested USD 30 billion in 2009, to
    give an impetus to a wide range of sustainable
    energy projects and upgrade existing smart grid
    networks in the region.
  • Stringent regulations towards adoption of
    intelligent systems to precisely track
    electricity consumption will augment the smart
    electric meter market share. European Union
    Directive 2009/72/EC mandates member countries to
    undertake initiatives which will increase
    consumer awareness towards the benefits of
    adopting these products. Directive 2014/724/EU
    provides guidance to regulators on safeguarding
    and protecting consumers consumption data.

UK Smart Electric Meter Market Size, By
Application 2015-2024 (Million units)


Browse Full Market Research Report On Smart
Electric Meter Market _at_ http//
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  • In 2016, UK contributed to over 20 of the Europe
    smart electric meter market share in terms of
    unit shipments. Department for Business, Energy
    Industrial Strategy along with the Office of Gas
    and Electricity Markets (OFGEM) have directed
    utility providers to install these products in
    every household by 2020, with a view to conserve
  • Smart electric meter market size from Automatic
    Meter Reading (AMR) technology is anticipated to
    exceed USD 4 billion by 2024. Conventional AMR
    devices were programmed to collect meter readings
    and match with the utility providers consumption
  • Additional data parameters can be set in these
    products to control their functionality remotely,
    owing to technological advancement. These
    products give warning in case of meter tampering,
    low battery and leak detection.

  • Automated Metering Infrastructure (AMI) systems
    will grow owing to increasing adoption of the
    advanced technology in developed nations
    including the U.S., UK, Sweden, Norway and Japan.
    These products provide enhanced features like
    notifications for demand response actions and
    time based pricing.
  • Japan smart electric meter market is predicted to
    witness a paradigm shift owing to adoption of AMI
    products. In August 2015, Tokyo Electric Power
    Company (TEPCO) launched an initiative to install
    over 2.7 million intelligent systems across the
    country and offer 24-hour customer support
    service through a Smart Meter Operation Centre.
  • Notable players in the smart electric meter
    market include Siemens, Itron, Schneider
    Electric, LandisGYR, Icsa, Circutor, Holley
    Metering, Iskraemeco, Osaki Electric, Honeywell
    International, Sensus Sentec, Elster Group,
    Badger Meter and Neptune Technology.

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