Global Smart Meters Market - Competitive Analysis

The global Smart Meters Market appears to be highly competitive and diversified with the presence of many well-established players having a regional and global presence. Innovation, mergers & acquisitions, and brand reinforcement remain the key trends for leading players in the market.

Key Players:

Landis+Gyr (Switzerland), Siemens AG (Germany), Itron, Inc. (US), Sensus (Xylem) (US), Aclara Technologies, LLC. (US), Badger Meter, Inc. (US),Kamstrup A/S (Denmark), Honeywell International, Inc. (US), Holley Metering, Ltd. (China), Toshiba Corporation (Japan), Wasion and Group (China) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Smart Meters Market.

Market Insight

Market Research Future (MRFR) anticipates a strong growth for the global smart gas meters market during the forecast period (2018-2024). A smart meter is a modern gas and electricity meter that sends meter readings digitally to the energy supplier for more accurate energy bills. In other words, it is an internet-capable device used to measure energy, water or natural gas consumption of a building or home. Power companies are majorly deploying smart meters to monitor consumer usage, subsequently adjusting prices in accordance with the time of day and season.

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Global Smart Meters Market - Segments

The MRFR analysis is segmented into four key dynamics: -

By Types : Smart Electricity Meters, Smart Gas Meters, and Smart Water Meters among others.

By Technologies : Automatic Meter Reading (AMR) and Advanced Metering Infrastructure (AMI), among others.

By Applications : Residential, Commercial, and Industrial among others.

By Regions : North America, Europe, APAC and Rest-of-the-World.

Global Smart Meters Market - Regional Analysis

The North America smart meters market is expected to retain its dominance in the global market throughout the forecast period. Factors such as increasing repairing & up-gradation of aging infrastructure activities and the increasing activities for monitoring & prevention of leakage are substantiating the growth of the market.

Government policy mandates and fiscal incentives have been the primary drivers for the demand for Smart Gas Meters in the region. Furthermore, smart meters rollouts taking place in the countries such as the U.S., Canada, and Mexico are expected to provide impetus to the market growth in the region. Besides, the region is the hub of major manufacturers which is certainly impacting the market growth in the region positively.

European region has emerged as another lucrative market for smart meters, expected to have the fastest growth over the review period. The region is expected to contribute significantly to the global market during the forecast period. Increasing demand and stringent government regulations in Europe are driving the growth of the market in the region.

The Asia Pacific smart meters market is projected to register a considerably high growth rate during the review period. Increasing investments on account of government initiatives and roll-outs are expected to be a major driving force for the growth of the APAC market.

Additional factors impacting the market growth include rapidly growing residential, commercial, and industrial sector and increasing investments in smart grid, smart city & the gas pipeline networks. China is the key manufacturer for smart meters. Attributing to the strict government regulations that have been pushing the mass deployment of smart meters in the country, China is expected to continue holding its hegemony over the APAC market.

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Other Description

Market Denomination- USD Million
Base year- 2016
Projection Period- From 2017 to 2023

Intended Audience

Smart electric, gas, and water meters manufacturing companies
Government and industry associations
State and national regulatory authorities
Distribution grid operators
Energy regulatory agencies
Investors and financial community professionals
State or government-owned corporations