Smart
Commercial Electricity Meter Market By Technology (Advanced Metering
Infrastructure (AMI), Automatic Meter Reading (AMR) by Phase (Single Phase,
Three Phase) and Region - Global Forecast to 2024
Smart
commercial electricity meter is defined as an electronic device which is used
to records the consumption of electric energy. Smart electricity meters involve
real time sensors, power outage notification and power quality monitoring.
These smart commercial electricity meters send meter readings to the energy
supplier for more accurate bills. Smart electricity meter provide quick and
accurate measurement of electricity use.
Market Size and Forecast
Global
smart commercial electricity meter market is anticipated to flourish at a CAGR
of 8.5% over the forecast period. Further, smart commercial electricity meter
market is driven by various factors such as growing awareness among the
consumers regarding saving electricity and rising adoption of innovative
technology by commercial sector to curb electricity expenses are envisioned to
flourish the growth of smart commercial electricity
meter market.
In terms
of regional platform, Asia-Pacific region accounted for the largest market
share followed by Europe. Asia-Pacific region is anticipated to continue its
dominance over the forecast period. This region is most lucrative market across
the globe owing to emerging economies such as India and China. In addition to
this, China accounted the largest market of smart commercial electricity meter.
The growth of china is attributed to various factors such as rapid urbanization
and increasing energy saving measures.
Europe
region holds the second largest market share of smart commercial electricity
meter across the globe. Further, evolution of consumer electronic industry and
increasing demand for high-end commercial products are anticipated to foster
the demand for smart commercial electricity meter in this region. Moreover,
Europe region is expected to witness favorable growth on the account of
stringent regulatory conditions and standardized policies.
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North
America region is projected to witness a tremendous growth over the forecast
period owing to technological advancement. U.S. and Canada are the dominating
countries of smart commercial electricity meter market in North America region.
Moreover, rapid development of electricity network and spiked penetration of
internet of things into electricity meter devices are envisioned to foster the
growth of smart commercial electricity meter market.
Market Segmentation
Our
in-depth analysis has segmented global smart commercial electricity meter
market into the following segments:
By Technology
Advanced
Metering Infrastructure (AMI)
Automatic
Meter Reading (AMR)
By Phase
Single
Phase
Three
Phase
By Region
Global
smart commercial electricity meter market is further classified on the basis of
region as follows:
North America
(U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
Latin
America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth &
Opportunity Analysis
Europe
(U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands &
Luxembourg, Rest of Europe) Market size, Y-O-Y growth & Opportunity
Analysis
Asia-Pacific
(China, India, Japan, Singapore, Australia, New Zealand, Rest of Asia) Market
size, Y-O-Y growth & Opportunity Analysis.
Middle
East and Africa (GCC, North Africa, South Africa, Rest of Middle East and
Africa) Market size, Y-O-Y growth & Opportunity Analysis
Growth Drivers and Challenges
Growing
demand for accurate billing and rising awareness regarding energy conservation
is believed to be the dynamic factor behind the rapid growth of smart
commercial electricity meter market across the globe. Further, swift
development of electricity network along with rising investment in smart grid
are envisioned to flourish the growth of smart commercial electricity meter
market by the end of 2024.
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Moreover,
rising energy prices and increasing instances of electricity theft are also
boosting the demand for adoption of smart electricity meter. Additionally,
favorable governmental initiatives for the adoption of intelligent systems to
limit electricity consumption are expected to positively impact the growth of
smart electricity meter market. Furthermore, growing GDP figures and rapid
urbanization are also predicted to fuel the growth of smart commercial
electricity meter market.
However,
high cost associated with the installation of smart electricity meter is
expected to hinder the growth of smart commercial electricity meter market by
the end of 2024.
Key Players
Siemens
Company
Overview
Key
Product Offerings
Business
Strategy
SWOT
Analysis
Financials
Schneider
Electric
Landis+GYR
Sensus
Sentec
Holley
Metering
Iskraemeco
Osaki
Honeywell
International
Elster
Group
Neptune
Technology
Scope and
Context
Overview of the Parent Market
Analyst
View
Segmentation
The global
smart commercial electricity meter market is segmented as follows:
By
Technology Market Size & Y-O-Y Growth Analysis
By Phase
Market Size & Y-O-Y Growth Analysis
By Region
Market Size & Y-O-Y Growth Analysis
Market
Dynamics
Supply
& Demand Risk
Competitive
Landscape
Porter’s
Five Force Model
Geographical
Economic Activity
Key
Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent
Trends and Developments
Industry
Growth Drivers and Challenges
Key
Information for Players to establish themselves in current dynamic environment
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