Global Smart Electricity Meters Market is valued at approximately USD 11.65 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 7.6% over the forecast period 2023-2030. The smart electricity meters market refers to the segment of the energy industry that focuses on the deployment and utilization of advanced metering technology, enabling accurate and real-time monitoring, measurement, and management of electricity consumption in residential, commercial, and industrial sectors. The Smart Electricity Meters Market is being driven by factors such as the rising need for energy efficiency & conservation and increasing government initiatives.
These meters utilize digital technology and communication capabilities to provide real-time data on energy usage, enabling both utility providers and consumers to monitor and manage electricity consumption more effectively. According to the International Energy Agency, in 2021 electricity demand is anticipated to grow by 3% (around 700 TWh). Along with that government is also focused on installing smart meters for instance, European Investment Bank (EIB) announced that it would be offering € 200 million in loans to Belgian network operator Fluvius for the deployment of smart metering systems (electricity) in Flanders. The project includes the installation of smart meters for Flemish families and companies in 300 cities and municipalities. Thus, increasing electricity consumption and government initiatives fuel the growth of the market. In addition, growing adoption of smart grids and an increasing need for energy security globally. However, the lack of standardization and electricity theft concerns may hinder the growth of the market throughout the forecast period of 2023-2030.
The key regions considered for the Global Smart Electricity Meters Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022 owing to the increasing urban population, and swift growth in industrial activities create high growth virtues for the consumption of smart electricity meters. Europe is considered as the fastest growing region during the forecasted period due to strong government initiatives related to the implementation of smart electricity metering.
Major market player included in this report are:
- ABB Ltd.
- General Electric Company
- Holley Technology Ltd.
- Elster Group SE
- Iskraemeco d.d
- Itron, Inc.
- Landis+Gyr
- Schneider Electric SE
- Siemens AG
- Honeywell International Inc.
Recent Developments in the Market:
- In February 2023, Itron Inc collaborated with SEW, a leading provider of cloud-based software solutions for the energy and water industries. The collaboration aims to develop new solutions that leverage Itron's OpenWay Riva IoT solution, which includes smart electricity meters and other smart grid technologies. Further, it would provide utilities with better insights into their customers' energy usage and help consumers better understand and manage their energy consumption.
Global Smart Electricity Meters Market Report Scope:
- Historical Data: 2020 - 2021
- Base Year for Estimation: 2022
- Forecast period: 2023-2030
- Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered - Phase, End User, Region
- Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Phase:
By End User:
- Residential
- Commercial
- Industrial
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
- 1.2.1. Smart Electricity Meters Market , by Region, 2020-2030 (USD Billion)
- 1.2.2. Smart Electricity Meters Market , by Phase, 2020-2030 (USD Billion)
- 1.2.3. Smart Electricity Meters Market , by End User, 2020-2030 (USD Billion)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global Smart Electricity Meters Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Industry Evolution
- 2.2.2. Scope of the Study
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global Smart Electricity Meters Market Dynamics
- 3.1. Smart Electricity Meters Market Impact Analysis (2020-2030)
- 3.1.1. Market Drivers
- 3.1.1.1. Rising need for energy efficiency & conservation
- 3.1.1.2. Increasing government initiatives
- 3.1.2. Market Challenges
- 3.1.2.1. Lack of standardization
- 3.1.2.2. Electricity theft concern
- 3.1.3. Market Opportunities
- 3.1.3.1. Increasing need for energy security globally
- 3.1.3.2. Growing adoption of smart grids
Chapter 4. Global Smart Electricity Meters Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Porter's 5 Force Impact Analysis
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
- 4.4. Top investment opportunity
- 4.5. Top winning strategies
- 4.6. COVID-19 Impact Analysis
- 4.7. Disruptive Trends
- 4.8. Industry Expert Perspective
- 4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Smart Electricity Meters Market, by Phase
- 5.1. Market Snapshot
- 5.2. Global Smart Electricity Meters Market by Phase, Performance - Potential Analysis
- 5.3. Global Smart Electricity Meters Market Estimates & Forecasts by Phase 2020-2030 (USD Billion)
- 5.4. Smart Electricity Meters Market , Sub Segment Analysis
- 5.4.1. Single-Phase
- 5.4.2. Three-Phase
Chapter 6. Global Smart Electricity Meters Market, by End User
- 6.1. Market Snapshot
- 6.2. Global Smart Electricity Meters Market by End User, Performance - Potential Analysis
- 6.3. Global Smart Electricity Meters Market Estimates & Forecasts by End User 2020-2030 (USD Billion)
- 6.4. Smart Electricity Meters Market , Sub Segment Analysis
- 6.4.1. Residential
- 6.4.2. Commercial
- 6.4.3. Industrial
Chapter 7. Global Smart Electricity Meters Market, Regional Analysis
- 7.1. Top Leading Countries
- 7.2. Top Emerging Countries
- 7.3. Smart Electricity Meters Market , Regional Market Snapshot
- 7.4. North America Smart Electricity Meters Market
- 7.4.1. U.S. Smart Electricity Meters Market
- 7.4.1.1. Phase breakdown estimates & forecasts, 2020-2030
- 7.4.1.2. End User breakdown estimates & forecasts, 2020-2030
- 7.4.2. Canada Smart Electricity Meters Market
- 7.5. Europe Smart Electricity Meters Market Snapshot
- 7.5.1. U.K. Smart Electricity Meters Market
- 7.5.2. Germany Smart Electricity Meters Market
- 7.5.3. France Smart Electricity Meters Market
- 7.5.4. Spain Smart Electricity Meters Market
- 7.5.5. Italy Smart Electricity Meters Market
- 7.5.6. Rest of Europe Smart Electricity Meters Market
- 7.6. Asia-Pacific Smart Electricity Meters Market Snapshot
- 7.6.1. China Smart Electricity Meters Market
- 7.6.2. India Smart Electricity Meters Market
- 7.6.3. Japan Smart Electricity Meters Market
- 7.6.4. Australia Smart Electricity Meters Market
- 7.6.5. South Korea Smart Electricity Meters Market
- 7.6.6. Rest of Asia Pacific Smart Electricity Meters Market
- 7.7. Latin America Smart Electricity Meters Market Snapshot
- 7.7.1. Brazil Smart Electricity Meters Market
- 7.7.2. Mexico Smart Electricity Meters Market
- 7.8. Middle East & Africa Smart Electricity Meters Market
- 7.8.1. Saudi Arabia Smart Electricity Meters Market
- 7.8.2. South Africa Smart Electricity Meters Market
- 7.8.3. Rest of Middle East & Africa Smart Electricity Meters Market
Chapter 8. Competitive Intelligence
- 8.1. Key Company SWOT Analysis
- 8.1.1. Company 1
- 8.1.2. Company 2
- 8.1.3. Company 3
- 8.2. Top Market Strategies
- 8.3. Company Profiles
- 8.3.1. ABB Ltd.
- 8.3.1.1. Key Information
- 8.3.1.2. Overview
- 8.3.1.3. Financial (Subject to Data Availability)
- 8.3.1.4. Product Summary
- 8.3.1.5. Recent Developments
- 8.3.2. General Electric compony
- 8.3.3. Holley Technology Ltd.
- 8.3.4. Elster Group SE
- 8.3.5. Iskraemeco d.d
- 8.3.6. Itron, Inc.
- 8.3.7. Landis+Gyr
- 8.3.8. Schneider Electric SE
- 8.3.9. Siemens AG
- 8.3.10. Honeywell International Inc.
Chapter 9. Research Process
- 9.1. Research Process
- 9.1.1. Data Mining
- 9.1.2. Analysis
- 9.1.3. Market Estimation
- 9.1.4. Validation
- 9.1.5. Publishing
- 9.2. Research Attributes
- 9.3. Research Assumption