
Smart Meter Market by Product (Smart Electric Meter, Smart Gas Meter, Smart Water Meter), Phase (Single Phase, Three Phase), Type, Application - Global Forecast 2024-2030
Description
Smart Meter Market by Product (Smart Electric Meter, Smart Gas Meter, Smart Water Meter), Phase (Single Phase, Three Phase), Type, Application - Global Forecast 2024-2030
The Smart Meter Market size was estimated at USD 16.91 billion in 2023 and expected to reach USD 18.34 billion in 2024, at a CAGR 8.94% to reach USD 30.79 billion by 2030.
Global Smart Meter MarketA smart meter is a digital meter used in residential & commercial applications to enable a utility to provide detailed information about energy usage at different times of the day, allowing it to manage energy use more proactively. Smart meters enable consumers to make informed decisions about optimizing electricity consumption and reducing bills. Increase in electricity demand from commercial and residential sectors, rising adoption of renewable energy sources, and expanding investments in smart grid infrastructure accelerating the adoption of smart meters. Smart metering systems enable two-way communication between the meter and the central system operated by the utilities, enabling remote reading of data from water, gas, electricity, and other meters. In addition, high setup & operational costs, cybersecurity & data privacy factors affect the deployment of smart meters. New smart meters are deploying with firmware over-the-air (FOTA) to keep meters updated & provide end-to-end security against threats.Regional InsightsNorth America has smart metering projects for deploying smart meters all over the region. North America has major manufacturers of smart meters. The European Union (EU) invests significant amounts in deploying smart meters for electricity & gas. The German government has adopted a draft law to restart the digitalization of the energy transition and accelerate smart metering. Asia-Pacific is the fastest-growing region for the smart meter & it is driven by the implementation of smart technologies such as analytics and cloud computing, which enable energy savings, remote monitoring, and smart home device adoption. China & Japan are significant countries in the APAC region for smart meters. The governments across India and China are introducing various initiatives to promote the usage of smart meters as it helps increase the efficiency of energy consumption & monitoring, subsequently benefiting the market growth in the APAC region.
FPNV Positioning Matrix
The FPNV Positioning Matrix is pivotal in evaluating the Smart Meter Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Smart Meter Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Key Company Profiles
The report delves into recent significant developments in the Smart Meter Market, highlighting leading vendors and their innovative profiles. These include ABB Ltd., Aclara Technologies LLC, AEM SA, Aichi Tokei Denki Co., Ltd., Apator SA, Aqua Analytics, Arad Group, Azbil Kimmon Co. Ltd., Badger Meter Inc., Baylan Water Meters, Diehl Stiftung & Co. KG, Elster Group SE, EMH Metering GmbH & Co. KG, General Electric Company, Genus Power Infrastructures Limited, Hexing Electric Company Ltd., Holley Technology Ltd., Honeywell International Inc., Iskraemeco Group, Itron Inc., Jabil Inc., Jiangsu Linyang Energy Co. Ltd., Kamstrup A/S, Lakshmi Electrical Control Systems Ltd., Landis+ GYR Group AG, Larsen & Toubro Limited, Microchip Technology Inc., Mueller Systems LLC, Namjun Co., Ltd., Networked Energy Services Corporation, Ningbo Sanxing Electric Co.,Ltd., Ningbo Water Meter (Group) Co., Ltd., Osaki Electric Co., Ltd., Peltek India, Pietro Fiorentini S.p.a., Sagemcom Group, Schneider Electric SE, Secure Meters Ltd., Shenzhen Kaifa Technology Co., Ltd., Siemens AG, Silicon Laboratories, SmarterHomes Technologies Private Limited, Suntront Tech Co.,Ltd., Wasion International, WAVIoT Integrated Systems LLC, Wenling Younio Water Meter Co., Ltd., Xemex N.V., Xylem Inc., Zenner International GmbH & Co. KG, and ZPA Smart Energy a.s..
Market Segmentation & Coverage
This research report categorizes the Smart Meter Market to forecast the revenues and analyze trends in each of the following sub-markets:
Product
Smart Electric Meter
Smart Gas Meter
Smart Water Meter
Phase
Single Phase
Three Phase
Type
SMETS1
SMETS2
Application
Commercial & Industrial Application
Residential Application
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom
The report offers valuable insights on the following aspects:
1. Market Penetration: It presents comprehensive information on the market provided by key players.
2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
The report addresses key questions such as:
1. What is the market size and forecast of the Smart Meter Market?
2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Smart Meter Market?
3. What are the technology trends and regulatory frameworks in the Smart Meter Market?
4. What is the market share of the leading vendors in the Smart Meter Market?
5. Which modes and strategic moves are suitable for entering the Smart Meter Market?
Note: PDF & Excel + Online Access - 1 Year
Table of Contents
186 Pages
- 1. Preface
- 1.1. Objectives of the Study
- 1.2. Market Segmentation & Coverage
- 1.3. Years Considered for the Study
- 1.4. Currency & Pricing
- 1.5. Language
- 1.6. Limitations
- 1.7. Assumptions
- 1.8. Stakeholders
- 2. Research Methodology
- 2.1. Define: Research Objective
- 2.2. Determine: Research Design
- 2.3. Prepare: Research Instrument
- 2.4. Collect: Data Source
- 2.5. Analyze: Data Interpretation
- 2.6. Formulate: Data Verification
- 2.7. Publish: Research Report
- 2.8. Repeat: Report Update
- 3. Executive Summary
- 4. Market Overview
- 4.1. Introduction
- 4.2. Smart Meter Market, by Region
- 5. Market Insights
- 5.1. Market Dynamics
- 5.1.1. Drivers
- 5.1.1.1. Increasing need for efficient data monitoring systems coupled with favorable government policies
- 5.1.1.2. Growing penetration of smart meters for electric vehicles and grid integration
- 5.1.1.3. Emerging potential of smart grids and energy efficiency in developing industries
- 5.1.2. Restraints
- 5.1.2.1. High setup and operational cost of smart meters
- 5.1.3. Opportunities
- 5.1.3.1. Technological advancement and new development in smart meters
- 5.1.3.2. Rising investment in smart grid projects and rising emphasis on renewable energy sources
- 5.1.4. Challenges
- 5.1.4.1. Concerns associated with cybersecurity and data privacy
- 5.2. Market Segmentation Analysis
- 5.3. Market Trend Analysis
- 5.4. Cumulative Impact of High Inflation
- 5.5. Porter’s Five Forces Analysis
- 5.5.1. Threat of New Entrants
- 5.5.2. Threat of Substitutes
- 5.5.3. Bargaining Power of Customers
- 5.5.4. Bargaining Power of Suppliers
- 5.5.5. Industry Rivalry
- 5.6. Value Chain & Critical Path Analysis
- 5.7. Regulatory Framework
- 6. Smart Meter Market, by Product
- 6.1. Introduction
- 6.2. Smart Electric Meter
- 6.3. Smart Gas Meter
- 6.4. Smart Water Meter
- 7. Smart Meter Market, by Phase
- 7.1. Introduction
- 7.2. Single Phase
- 7.3. Three Phase
- 8. Smart Meter Market, by Type
- 8.1. Introduction
- 8.2. SMETS1
- 8.3. SMETS2
- 9. Smart Meter Market, by Application
- 9.1. Introduction
- 9.2. Commercial & Industrial Application
- 9.3. Residential Application
- 10. Americas Smart Meter Market
- 10.1. Introduction
- 10.2. Argentina
- 10.3. Brazil
- 10.4. Canada
- 10.5. Mexico
- 10.6. United States
- 11. Asia-Pacific Smart Meter Market
- 11.1. Introduction
- 11.2. Australia
- 11.3. China
- 11.4. India
- 11.5. Indonesia
- 11.6. Japan
- 11.7. Malaysia
- 11.8. Philippines
- 11.9. Singapore
- 11.10. South Korea
- 11.11. Taiwan
- 11.12. Thailand
- 11.13. Vietnam
- 12. Europe, Middle East & Africa Smart Meter Market
- 12.1. Introduction
- 12.2. Denmark
- 12.3. Egypt
- 12.4. Finland
- 12.5. France
- 12.6. Germany
- 12.7. Israel
- 12.8. Italy
- 12.9. Netherlands
- 12.10. Nigeria
- 12.11. Norway
- 12.12. Poland
- 12.13. Qatar
- 12.14. Russia
- 12.15. Saudi Arabia
- 12.16. South Africa
- 12.17. Spain
- 12.18. Sweden
- 12.19. Switzerland
- 12.20. Turkey
- 12.21. United Arab Emirates
- 12.22. United Kingdom
- 13. Competitive Landscape
- 13.1. FPNV Positioning Matrix
- 13.2. Market Share Analysis, By Key Player
- 13.3. Competitive Scenario Analysis, By Key Player
- 13.3.1. Merger & Acquisition
- 13.3.1.1. Badger Meter Acquires Syrinix
- 13.3.1.2. Slovenia's Iskraemeco acquires Croatian IoT firm Holosys
- 13.3.2. Agreement, Collaboration, & Partnership
- 13.3.2.1. Itron Expands Collaboration with Smart Energy Water (SEW) to Transform the Consumer Experience
- 13.3.2.2. Kigali, an African leader in sustainable water management
- 13.3.2.3. Vodafone Idea's enterprise arm, Trilliant partner to provide IIoT solutions for smart meter projects, Telecom News, ET Telecom
- 13.3.3. New Product Launch & Enhancement
- 13.3.3.1. ABB India launches new series of smart monitoring solutions
- 13.3.4. Investment & Funding
- 13.3.4.1. Adani Electricity investing Rs 500 cr (USD 60.85 million) for smart meter installations in Mumbai, ET EnergyWorld
- 13.3.5. Award, Recognition, & Expansion
- 13.3.5.1. Genus Power Infrastructures wins orders worth Rs 2855.96 cr (USD 350.25 million)
- 13.3.5.2. HPL Electric & Power wins order worth Rs 161.59 cr (USD 19.43 million)
- 13.3.5.3. ABB India upgrades smart power factory to Industry 5.0
- 14. Competitive Portfolio
- 14.1. Key Company Profiles
- 14.1.1. ABB Ltd.
- 14.1.2. Aclara Technologies LLC
- 14.1.3. AEM SA
- 14.1.4. Aichi Tokei Denki Co., Ltd.
- 14.1.5. Apator SA
- 14.1.6. Aqua Analytics
- 14.1.7. Arad Group
- 14.1.8. Azbil Kimmon Co. Ltd.
- 14.1.9. Badger Meter Inc.
- 14.1.10. Baylan Water Meters
- 14.1.11. Diehl Stiftung & Co. KG
- 14.1.12. Elster Group SE
- 14.1.13. EMH Metering GmbH & Co. KG
- 14.1.14. General Electric Company
- 14.1.15. Genus Power Infrastructures Limited
- 14.1.16. Hexing Electric Company Ltd.
- 14.1.17. Holley Technology Ltd.
- 14.1.18. Honeywell International Inc.
- 14.1.19. Iskraemeco Group
- 14.1.20. Itron Inc.
- 14.1.21. Jabil Inc.
- 14.1.22. Jiangsu Linyang Energy Co. Ltd.
- 14.1.23. Kamstrup A/S
- 14.1.24. Lakshmi Electrical Control Systems Ltd.
- 14.1.25. Landis+ GYR Group AG
- 14.1.26. Larsen & Toubro Limited
- 14.1.27. Microchip Technology Inc.
- 14.1.28. Mueller Systems LLC
- 14.1.29. Namjun Co., Ltd.
- 14.1.30. Networked Energy Services Corporation
- 14.1.31. Ningbo Sanxing Electric Co.,Ltd.
- 14.1.32. Ningbo Water Meter (Group) Co., Ltd.
- 14.1.33. Osaki Electric Co., Ltd.
- 14.1.34. Peltek India
- 14.1.35. Pietro Fiorentini S.p.a.
- 14.1.36. Sagemcom Group
- 14.1.37. Schneider Electric SE
- 14.1.38. Secure Meters Ltd.
- 14.1.39. Shenzhen Kaifa Technology Co., Ltd.
- 14.1.40. Siemens AG
- 14.1.41. Silicon Laboratories
- 14.1.42. SmarterHomes Technologies Private Limited
- 14.1.43. Suntront Tech Co.,Ltd.
- 14.1.44. Wasion International
- 14.1.45. WAVIoT Integrated Systems LLC
- 14.1.46. Wenling Younio Water Meter Co., Ltd.
- 14.1.47. Xemex N.V.
- 14.1.48. Xylem Inc.
- 14.1.49. Zenner International GmbH & Co. KG
- 14.1.50. ZPA Smart Energy a.s.
- 14.2. Key Product Portfolio
- 15. Appendix
- 15.1. Discussion Guide
- 15.2. License & Pricing
- FIGURE 1. SMART METER MARKET RESEARCH PROCESS
- FIGURE 2. SMART METER MARKET SIZE, 2023 VS 2030
- FIGURE 3. SMART METER MARKET SIZE, 2018-2030 (USD MILLION)
- FIGURE 4. SMART METER MARKET SIZE, BY REGION, 2023 VS 2030 (%)
- FIGURE 5. SMART METER MARKET SIZE, BY REGION, 2023 VS 2024 VS 2030 (USD MILLION)
- FIGURE 6. SMART METER MARKET DYNAMICS
- FIGURE 7. SMART METER MARKET SIZE, BY PRODUCT, 2023 VS 2030 (%)
- FIGURE 8. SMART METER MARKET SIZE, BY PRODUCT, 2023 VS 2024 VS 2030 (USD MILLION)
- FIGURE 9. SMART METER MARKET SIZE, BY PHASE, 2023 VS 2030 (%)
- FIGURE 10. SMART METER MARKET SIZE, BY PHASE, 2023 VS 2024 VS 2030 (USD MILLION)
- FIGURE 11. SMART METER MARKET SIZE, BY TYPE, 2023 VS 2030 (%)
- FIGURE 12. SMART METER MARKET SIZE, BY TYPE, 2023 VS 2024 VS 2030 (USD MILLION)
- FIGURE 13. SMART METER MARKET SIZE, BY APPLICATION, 2023 VS 2030 (%)
- FIGURE 14. SMART METER MARKET SIZE, BY APPLICATION, 2023 VS 2024 VS 2030 (USD MILLION)
- FIGURE 15. AMERICAS SMART METER MARKET SIZE, BY COUNTRY, 2023 VS 2030 (%)
- FIGURE 16. AMERICAS SMART METER MARKET SIZE, BY COUNTRY, 2023 VS 2024 VS 2030 (USD MILLION)
- FIGURE 17. UNITED STATES SMART METER MARKET SIZE, BY STATE, 2023 VS 2030 (%)
- FIGURE 18. UNITED STATES SMART METER MARKET SIZE, BY STATE, 2023 VS 2024 VS 2030 (USD MILLION)
- FIGURE 19. ASIA-PACIFIC SMART METER MARKET SIZE, BY COUNTRY, 2023 VS 2030 (%)
- FIGURE 20. ASIA-PACIFIC SMART METER MARKET SIZE, BY COUNTRY, 2023 VS 2024 VS 2030 (USD MILLION)
- FIGURE 21. EUROPE, MIDDLE EAST & AFRICA SMART METER MARKET SIZE, BY COUNTRY, 2023 VS 2030 (%)
- FIGURE 22. EUROPE, MIDDLE EAST & AFRICA SMART METER MARKET SIZE, BY COUNTRY, 2023 VS 2024 VS 2030 (USD MILLION)
- FIGURE 23. SMART METER MARKET, FPNV POSITIONING MATRIX, 2023
- FIGURE 24. SMART METER MARKET SHARE, BY KEY PLAYER, 2023
Pricing
Currency Rates
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