Residential smart electric meter market to surpass $4bn by 2024 - PowerPoint PPT Presentation

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Residential smart electric meter market to surpass $4bn by 2024


More Information @ AMI smart electric meter market is anticipated to witness growth over 4% by 2024. AMI systems reduce labour costs and provides effective billing generation with their assistance in streamlining the billing process. Over the coming years, it has been anticipated that AMI will gain an appreciable market penetration owing to its capability to avail two-way communication between utilities and consumers. – PowerPoint PPT presentation

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Title: Residential smart electric meter market to surpass $4bn by 2024

Smart Electric Meter Market to cross 10bn by
2024 Global Market Insights Inc.
Industry Overview
  • Smart Electric Meter Market to reach USD 10
    Billion by 2024, driven by renewable energy
    integration to smart grid infrastructure. Robust
    implementation of government mandates and fiscal
    incentives toward the adoption of sustainable
    technology will drive the smart electric meter
    market size. Several countries have enacted
    distinct legislation mandating the adoption of
    AMI meters as a part of their comprehensive
    energy conservation initiatives. In March 2011,
    the Government of UK framed a rollout strategy
    and designed a policy framework for smart meters.
    The Smart Metering Implementation Programme is
    expected to achieve the installation of over 50
    million smart meters by 2020.
  • U.S. smart electric meter market is anticipated
    to exceed USD 1 Billion by 2024. Significant
    encouragement by regulators and policymakers
    toward the adoption of smart technologies will
    stimulate the business growth. As per the
    Residential Energy Consumption Survey conducted
    by the EIA in 2015, residential smart meter
    adoption across the U.S. stood around 40.
    Furthermore, it has been analyzed that electric
    utilities across the country had installed over
    70 million AMI meters till 2016.

Smart Electric Meter Market


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  • AMI smart electric meter market will grow on
    account of continuous expansion and increasing
    share of renewables across centralized and
    decentralized grid infrastructure. Rapid
    technological advancements coupled with growing
    concern toward energy conservation will
    strengthen the business outlook. Smart meters
    integrated with automated data management systems
    have drastically eased the assessment of
    consumption patterns by the user.
  • UK smart electric meter market is witnessed to
    grow on account of growing measures toward the
    adoption of energy efficient products.
    Introduction of strict emission norms toward the
    development of sustainable technologies has
    created a competitive business scenario for
    leading manufacturers across the region. The
    Article 9-11 of the UK Energy Efficiency
    Directive provides rules on devices related to
    metering and billing information that needs to be
    provided to end users.
  • China, in 2017 accounted for over 70 smart
    electric meter market share across Asia Pacific.
    Growing penetration of smart technologies along
    with shifting focus toward energy efficiency will
    stimulate the business growth. Asian Development
    Bank is supporting the sustainable use of energy
    and the roll-out of smart meters is the top
    priority in line with the adoption of renewable
    and smart-grid technologies. China in its 13th
    five-year plan introduced various smart city
    projects that include the installation of smart
    meters across water and electric networks.

UK Smart Electric Meter Market Size, By
Application, 2017 2024 (Million Units)

Industry Coverage

  • Shifting trends toward an effective measurement,
    monitoring, and utilization of resources to limit
    the overall energy challenges will drive the
    smart electric meter market. Metering and
    monitoring have been the essential tools for the
    measurement and efficient energy management. In
    addition, these provide building owners
    operators with the information to improve
    building energy performance.
  • Key industry participants in the smart electric
    meter market include Apator, Iskraemco, Circutor,
    Kamstrup, Sensus, Aclara, Neptune, Badger Meter,
    Osaki, Honeywell International, Schneider,
    Siemens, Itron and LandisGyr.

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