Global Smart Meters Market - By Type (Smart Electricity Meters, Smart Gas Meters,Smart Water Meters), Application (Residential, Commercial, Industrial), Geography, Trends, Forecast - (2017 - 2022)

Published - Jan 2017 | Category - Automobile & Transportation | No. of Pages - 98 | Published By - Mordor Intelligence

Report Highlights

The Global Smart Meters market is valued at USD XX.XX billion in 2016 and is expected to reach a value of USD XX.XX billion by the end of 2022, growing at a projected CAGR of XX.XX% during the forecast period of 2017 - 2022. Smart meters represent a transformative technology for the utility industry and its customers. These technologically advanced meters enable greater insight into the usage of energy and, in the case of smart electric meters, provide enhanced control of the electrical grid. The other meters such as the smart gas meters and smart water meters provide the consumption patterns and further encourage the efficient management of resources.

The smart meters market can be divided based on type into smart electricity meters, smart gas meters, and smart water meters. The household or business, equipped with a smart meter, can monitor its electricity, water or gas usage and make adjustments, which can reduce the overall usage and/or shift usage to non-peak hours when rates may be lower. . In the case of electricity utilities, this offers the added benefit that the amount of electricity that needs to be produced at peak hours can be lowered, thereby reducing overall production costs. This also limits the new capital investments that utilities would have to make, in order to handle higher peak-hour demand.

Smart grids are being implemented around the world with the aim of improving the efficiency of power networks. Smart electricity meters, which are an integral part of smart grids are thus being adopted around the world. Countries around the world are adopting emission control regulations in order to tackle the environmental effects caused by pollution. Policies that promote energy efficient practices are a part of these regulations. The implementation of such policies by governments around the world is helping in the growth of smart meters market.

The major factor that is at present restraining the smart meters market is the high installation costs that consumers have to bear. This has led to an opposition from end-users against the implementation of smart meters. Consumers are also concerned about data privacy issues that could arise due to smart meter implementation. In spite of these restraints, various countries and utilities are rolling out smart meters on experimental and full-scale basis.

What the Report Offers              

Market definition for the specified topic along with identification of key drivers and restraints for the market.

Market analysis for the global smart meters market, with region specific assessments and competition analysis.

Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies, which can influence the market.

Extensively researched competitive landscape section with profiles of major companies along with their share in the market.

Identification and analysis of the macro and micro factors that affect the global smart meters market on a regional and global scale.

A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.

 

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