Smart Meter Manufacturing
The Smart Meter Manufacturing industry has surged ahead over the past five years, fueled by growing demand for a modernized power grid and aggressive adoption of the technology nationwide. In addition to improving residential and commercial construction activity, demand for industry products has benefited from a greater number of utilities converting to smart grids. Grid modernization is quickly becoming a core emphasis across energy industries, buoyed by strong government support and consumer demand for cost and energy-saving technologies. The ability to monitor energy consumption in real time has encouraged utilities of all sizes to embrace smart meters. Smart meter-based infrastructure also enables utilities to improve and personalize customer service. Additionally, utilities can reduce labor costs by remotely connecting and disconnecting power, detecting outages and resolving other power-delivery issues at a more rapid pace. Industry revenue is anticipated to decelerate over the five years to 2024, as growth in residential and commercial construction is expected to cool. While individual smart meter manufacturers will struggle due to intense competition, growth in the industry as a whole will be attributed to higher smart meter adoption nationwide, due to the cost and energy savings the technology provides.
This industry manufactures smart meters, which are electrical, gas or water meters that record consumption information in intervals of an hour or less and communicate this information back to the utility for monitoring and billing purposes. Smart meters enable two-way communication between the meter and the central system.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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