Global Smart Meters Market valued approximately USD 29.5 million in 2016 is anticipated to grow with a healthy growth rate of more than 5.9% over the forecast period 2018-2025.
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The major driving factor for the growth of global smart meter market is government support and incentives, as utilities are initially reluctant to make huge investment in new technology without their support. Technological advancements such as smart grid development, infrastructure development, growing population and rise in economic developments are some of the other factors boosting the growth of global smart meter market. The successful deployment of global smart meter market is dependent on logistics which influences the delivery, installation and performance of smart meter. The health effects concerning wireless signals in smart meter, security concerns, regulatory constraints and stiff competition are some of the challenges faced by global smart meter market.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
Smart Electric Meters
Smart Water Meters
Smart Gas Meters
Residential Smart Meters Market
Commercial Smart Meters Market
Industrial Smart Meters Market
Automated Metering Reading (AMR)
Advanced Metering Infrastructure (AMI)
Rest of the World
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Furthermore, years considered for the study are as follows:
Historical year – 2015
Base year – 2016
Forecast period – 2017 to 2025
Some of the key manufacturers involved in the market are Schneider Electric, Siemens AG
Honeywell International, Inc., Itron Inc., Sensus (Xylem). Acquisitions and effective mergers are some of the strategies adopted by the key manufacturers. New product launches and continuous technological innovations are the key strategies adopted by the major players.
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