Prepaid Metering Market 2015-2019
About prepaid metering
Prepaid metering refers to paying for electricity before it is used. The consumer buys credit and then uses services until the credit expires. The concept of prepaid metering has been there for decades, but the major make shift took place in the 1980s by introduction of electronic or numeric credit transfer. A traditional prepaid metering system functions on three levels. The first level is the meters installed at the consumption point, the next level is vending stations situated at the utilities, and the top level is the master client, which ensures a database for reporting and provides administration, financial, and engineering control. The communication link between the vending stations and meters is in the form of a token, which is used to top up the credit in the meter.
Technavio’s analysts forecast the global prepaid metering market to grow at a CAGR of 11.3% during the period 2014-2019.
Covered in this report
Technavio’s report, Global Prepaid Metering Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. It covers the present scenario and the growth prospects of the global prepaid metering market for 2015-2019. The report includes the segmentation of the market on the basis of application, i.e., hardware, software, and services along with the geographical segmentation. It is also segmented on the basis of end users:residential, commercial, and industrial. It also presents the vendor landscape and a corresponding detailed analysis of the top five vendors in the market. The vendor landscape in this report focuses mainly on the vendors that provide prepaid electric and smart energy meters. In addition, the report discusses the major drivers that influence the growth of the market. It also outlines the challenges faced by vendors and the market at large, as well as the key trends emerging in the market.Key vendors
Technavio Announces the Publication of its Research Report – Global Prepaid Metering Market 2015-2019
Technavio recognizes the following companies as the key players in the Global Prepaid Metering Market: GE Digital Energy, Itron, Landys+Gyr, Schneider Electric and Siemens Energy
Other Prominent Vendors in the market are: Echelon Corporation, Elster Group SE, Sensus, and Silver Spring Networks.
Commenting on the report, an analyst from Technavio’s team said: “Regulatory authorities of various countries such as China, Italy, India, and the US have been showing interest in the installation of smart energy meters, which has been a major driver in the growth of the global smart energy meter market. There has been an upsurge in the installation of smart meters across the world with regulators constantly developing frameworks and policies to adopt smart meters in different regions.”
According to the report, prepaid meters are gaining acceptance by both utilities and customers because of the associated benefits to both parties. Utilities benefit from these meters as they reduce the accounts receivable and increase cash flow and liquidity. Customers, on the other hand, gain the advantage of keeping a tab on their consumption and budget at the same time.
Further, the report states that lack of standardization makes the task of attaining interoperability cumbersome. Moreover, consumers may find it difficult to switch among energy suppliers. Consequent to a lack of standardization in the industry, consumers will not be able to use the same smart energy meter when they switch among suppliers and will, therefore, feel compelled to buy a new meter.
GE Digital Energy, Itron, Landys+Gyr, Schneider Electric, Siemens Energy, Echelon Corporation, Elster Group SE, Sensus, Silver Spring Networks.