Global Smart Electricity Meters Market Size, Share, Trends, Industry Growth by Phase (Single-Phase, Three-Phase), by Technology (Power Line Communication (PLC), Radio Frequency (RF), Cellular), by End-Use, by Region, and Forecast to 2028

Price: 3600/- USD | Published Date: June 13, 2022 |

The global smart electricity meters market size is expected to experience a considerable CAGR of over 8% during the forecast period from 2022 to 2028. The growing demand for efficient data monitoring and the favorable government policies for smart electric meter installations are some major factors driving the market growth. Furthermore, the increasing adoption of renewable energy sources, growing investment in smart grid systems, and the rising utilization of smart electricity meters in the residential sector are further anticipated to boost the market over the forecast period. Moreover, the rapid growth in urbanization and the increasing number of smart home projects around the world are projected to propel the market growth in next upcoming years.

Market Insights:

The global smart electricity meters market is bifurcated into phase, technology, end-use, and geography. On the basis of phase, the market is further segmented into single-phase and three-phase sub-segment. The single-phase segment dominated the global market in 2021 and is expected to hold the largest revenue share of over 2/3 market share by the end of the analysis period. On the flip side, the three-phase segment is accounted to register the fastest growth rate over the forecast period. The increasing implementation of commercial and industrial applications in developing economies coupled with the increasing number of buildings in commercial and industrial sectors are expected to fuel the segment growth over the forecast period.

On the basis of end-use, the market is segmented into industrial, commercial, and residential. The residential end-use segment dominated the global smart electricity meters market in 2021 and is expected to hold the largest revenue share of 2/3 market share by the end of the analysis period. The replacement of old electric meters with smart electric meters in various countries of the world coupled with favorable government policies is a primary factor to drive the segment growth. On the other hand, the commercial segment is expected to grow at a significant CAGR over the forecast period due to the rising inclination toward reducing energy consumption.

Smart Electricity Meters Market Forecast

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The smart electricity meters comprehensive study analyzes industry trends, market size, competitive analysis, and market forecast – 2022 to 2028. Research Corridor report provides detailed premium insight into the global market and reveals the potential revenue streams, commercial prospects, market drivers, challenges, opportunities, issues, and events affecting the industry. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market and expert opinion obtained from interviews with industry executives and experts from prominent companies.

The smart electricity meters market research report presents the analysis of each segment from 2019 to 2028 considering 2020 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2021 to 2027.

Historical & Forecast Period

  • 2019-20 – Historical Year
  • 2021 – Base Year
  • 2022-2028 – Forecast Period

Global Smart Electricity Meters Market Segmentation:

Smart Electricity Meters Market Segmentation by Phase:

  • Single-Phase
  • Three-Phase

Smart Electricity Meters Market Segmentation by Technology:

  • Power Line Communication (PLC)
  • Radio Frequency (RF)
  • Cellular

Smart Electricity Meters Market Segmentation by End-Use:

  • Industrial
  • Commercial
  • Residential

Smart Electricity Meters Market Segmentation by Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Smart Electricity Meters Market: Geographic Coverage

Geographically, the Asia Pacific dominated the global smart electricity meters market in 2021 and is expected to witness the same trend over the forecast period. The growing adoption of smart meters and the rising need to minimize unaccounted power losses are some major factors to drive the market growth in the region. Furthermore, the market growth is attributed to the significant promotion of green energy and the efficient transmission facilities, and integrated presence in the value chain, especially for sharing of real-time information related to usage and tariff rates.

Smart Electricity Meters Market: Competitive Assessment

Some of the major market players operating in the global smart electricity meters market are ABB Ltd., GENERAL ELECTRIC, Holley Technology LTD., Elster Group GmbH, and Iskraemeco d.d. Companies are exploring markets through expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

List of Key Companies:

  • ABB Ltd.
  • GENERAL ELECTRIC
  • Holley Technology LTD.
  • Elster Group GmbH
  • Iskraemeco d.d.
  • Itron Inc.
  • Landis+Gyr
  • Schneider Electric, Inc.
  • Siemens
  • Aclara Technologies LLC

Key Questions Answered by Smart Electricity Meters Market Report

  • Global smart electricity meters market forecasts from 2022-2028
  • Regional market forecasts from 2022-2028 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
  • Country-level forecasts from 2022-2028 covering 15 major countries from the regions as mentioned above
  • Smart electricity meters submarket forecasts from 2022-2028 covering the market by phase, by technology, by end-use, and geography
  • Various industry models such as SWOT analysis, Value Chain Analysis about the market
  • Analysis of the key factors driving and restraining the growth of the global, regional, and country-level smart electricity meters markets from 2022-2028
  • Competitive Landscape and market positioning of top 10 players operating in the market
Table of Content:

1. Preface


1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.4. Assumptions

 

2. Executive Summary


2.1. Global Smart Electricity Meters Market Portraiture
2.2. Global Smart Electricity Meters Market, by Phase, 2021 (USD Mn)
2.3. Global Smart Electricity Meters Market, by Technology, 2021 (USD Mn)
2.4. Global Smart Electricity Meters Market, by End-Use, 2021 (USD Mn)
2.5. Global Smart Electricity Meters Market, by Geography, 2021 (USD Mn)

 

3. Global Smart Electricity Meters Market Analysis


3.1. Smart Electricity Meters Market Overview
3.2. Market Inclination Insights
3.3. Market Dynamics
3.3.1. Drivers
3.3.2. Challenges
3.3.3. Opportunities
3.4. Attractive Investment Proposition
3.5. Competitive Analysis
3.6. Porter’s Five Force Analysis
3.6.1. Bargaining Power of Suppliers
3.6.2. Bargaining Power of Buyers
3.6.3. Threat of New Entrants
3.6.4. Threat of Substitutes
3.6.5. Degree of Competition
3.7. COVID-19 Impact Analysis

 

4. Global Smart Electricity Meters Market By Phase, 2019 – 2028 (USD Mn)


4.1. Overview
4.2. Single-Phase
4.3. Three-Phase

 

5. Global Smart Electricity Meters Market By Technology, 2019 – 2028 (USD Mn)


5.1. Overview
5.2. Power Line Communication (PLC)
5.3. Radio Frequency (RF)
5.4. Cellular

 

6. Global Smart Electricity Meters Market By End-Use, 2019 – 2028 (USD Mn)


6.1. Overview
6.2. Industrial
6.3. Commercial
6.4. Residential

 

7. North America Smart Electricity Meters Market Analysis and Forecast, 2019 – 2028 (USD Mn)


7.1. Overview
7.2. North America Smart Electricity Meters Market by Phase, (2019-2028 USD Mn)
7.3. North America Smart Electricity Meters Market by Technology, (2019-2028 USD Mn)
7.4. North America Smart Electricity Meters Market by End-Use, (2019-2028 USD Mn)
7.5. North America Smart Electricity Meters Market by Country, (2019-2028 USD Mn)
7.5.1. U.S.
7.5.1.1. U.S. Smart Electricity Meters Market by Phase, (2019-2028 USD Mn)
7.5.1.2. U.S. Smart Electricity Meters Market by Technology, (2019-2028 USD Mn)
7.5.1.3. U.S. Smart Electricity Meters Market by End-Use, (2019-2028 USD Mn)
7.5.2. Canada
7.5.2.1. Canada Smart Electricity Meters Market by Phase, (2019-2028 USD Mn)
7.5.2.2. Canada Smart Electricity Meters Market by Technology, (2019-2028 USD Mn)
7.5.2.3. Canada Smart Electricity Meters Market by End-Use, (2019-2028 USD Mn)

 

8. Europe Smart Electricity Meters Market Analysis and Forecast, 2019 – 2028 (USD Mn)


8.1. Overview
8.2. Europe Smart Electricity Meters Market by Phase, (2019-2028 USD Mn)
8.3. Europe Smart Electricity Meters Market by Technology, (2019-2028 USD Mn)
8.4. Europe Smart Electricity Meters Market by End-Use, (2019-2028 USD Mn)
8.5. Europe Smart Electricity Meters Market by Country, (2019-2028 USD Mn)
8.5.1. Germany
8.5.1.1. Germany Smart Electricity Meters Market by Phase, (2019-2028 USD Mn)
8.5.1.2. Germany Smart Electricity Meters Market by Technology, (2019-2028 USD Mn)
8.5.1.3. Germany Smart Electricity Meters Market by End-Use, (2019-2028 USD Mn)
8.5.2. U.K.
8.5.2.1. U.K. Smart Electricity Meters Market by Phase, (2019-2028 USD Mn)
8.5.2.2. U.K. Smart Electricity Meters Market by Technology, (2019-2028 USD Mn)
8.5.2.3. U.K. Smart Electricity Meters Market by End-Use, (2019-2028 USD Mn)
8.5.3. France
8.5.3.1. France Smart Electricity Meters Market by Phase, (2019-2028 USD Mn)
8.5.3.2. France Smart Electricity Meters Market by Technology, (2019-2028 USD Mn)
8.5.3.3. France Smart Electricity Meters Market by End-Use, (2019-2028 USD Mn)
8.5.4. Italy
8.5.4.1. Italy Smart Electricity Meters Market by Phase, (2019-2028 USD Mn)
8.5.4.2. Italy Smart Electricity Meters Market by Technology, (2019-2028 USD Mn)
8.5.4.3. Italy Smart Electricity Meters Market by End-Use, (2019-2028 USD Mn)
8.5.5. Rest of Europe
8.5.5.1. Rest of Europe Smart Electricity Meters Market by Phase, (2019-2028 USD Mn)
8.5.5.2. Rest of Europe Smart Electricity Meters Market by Technology, (2019-2028 USD Mn)
8.5.5.3. Rest of Europe Smart Electricity Meters Market by End-Use, (2019-2028 USD Mn)

 

9. Asia Pacific Smart Electricity Meters Market Analysis and Forecast, 2019 – 2028 (USD Mn)


9.1. Overview
9.2. Asia Pacific Smart Electricity Meters Market by Phase, (2019-2028 USD Mn)
9.3. Asia Pacific Smart Electricity Meters Market by Technology, (2019-2028 USD Mn)
9.4. Asia Pacific Smart Electricity Meters Market by End-Use, (2019-2028 USD Mn)
9.5. Asia Pacific Smart Electricity Meters Market by Country, (2019-2028 USD Mn)
9.5.1. China
9.5.1.1. China Smart Electricity Meters Market by Phase, (2019-2028 USD Mn)
9.5.1.2. China Smart Electricity Meters Market by Technology, (2019-2028 USD Mn)
9.5.1.3. China Smart Electricity Meters Market by End-Use, (2019-2028 USD Mn)
9.5.2. Japan
9.5.2.1. Japan Smart Electricity Meters Market by Phase, (2019-2028 USD Mn)
9.5.2.2. Japan Smart Electricity Meters Market by Technology, (2019-2028 USD Mn)
9.5.2.3. Japan Smart Electricity Meters Market by End-Use, (2019-2028 USD Mn)
9.5.3. India
9.5.3.1. India Smart Electricity Meters Market by Phase, (2019-2028 USD Mn)
9.5.3.2. India Smart Electricity Meters Market by Technology, (2019-2028 USD Mn)
9.5.3.3. India Smart Electricity Meters Market by End-Use, (2019-2028 USD Mn)
9.5.4. Rest of Asia Pacific
9.5.4.1. Rest of Asia Pacific Smart Electricity Meters Market by Phase, (2019-2028 USD Mn)
9.5.4.2. Rest of Asia Pacific Smart Electricity Meters Market by Technology, (2019-2028 USD Mn)
9.5.4.3. Rest of Asia Pacific Smart Electricity Meters Market by End-Use, (2019-2028 USD Mn)

 

10. Latin America (LATAM) Smart Electricity Meters Market Analysis and Forecast, 2019 – 2028 (USD Mn)


10.1. Overview
10.2. Latin America Smart Electricity Meters Market by Phase, (2019-2028 USD Mn)
10.3. Latin America Smart Electricity Meters Market by Technology, (2019-2028 USD Mn)
10.4. Latin America Smart Electricity Meters Market by End-Use, (2019-2028 USD Mn)
10.5. Latin America Smart Electricity Meters Market by Country, (2019-2028 USD Mn)
10.5.1. Brazil
10.5.1.1. Brazil Smart Electricity Meters Market by Phase, (2019-2028 USD Mn)
10.5.1.2. Brazil Smart Electricity Meters Market by Technology, (2019-2028 USD Mn)
10.5.1.3. Brazil Smart Electricity Meters Market by End-Use, (2019-2028 USD Mn)
10.5.2. Mexico
10.5.2.1. Mexico Smart Electricity Meters Market by Phase, (2019-2028 USD Mn)
10.5.2.2. Mexico Smart Electricity Meters Market by Technology, (2019-2028 USD Mn)
10.5.2.3. Mexico Smart Electricity Meters Market by End-Use, (2019-2028 USD Mn)
10.5.3. Rest of Latin America
10.5.3.1. Rest of Latin America Smart Electricity Meters Market by Phase, (2019-2028 USD Mn)
10.5.3.2. Rest of Latin America Smart Electricity Meters Market by Technology, (2019-2028 USD Mn)
10.5.3.3. Rest of Latin America Smart Electricity Meters Market by End-Use, (2019-2028 USD Mn)

 

11. Middle East and Africa Smart Electricity Meters Market Analysis and Forecast, 2019 – 2028 (USD Mn)


11.1. Overview
11.2. MEA Smart Electricity Meters Market by Phase, (2019-2028 USD Mn)
11.3. MEA Smart Electricity Meters Market by Technology, (2019-2028 USD Mn)
11.4. MEA Smart Electricity Meters Market by End-Use, (2019-2028 USD Mn)
11.5. Middle East and Africa Smart Electricity Meters Market, by Country, (2019-2028 USD Mn)
11.5.1. GCC
11.5.1.1. GCC Smart Electricity Meters Market by Phase, (2019-2028 USD Mn)
11.5.1.2. GCC Smart Electricity Meters Market by Technology, (2019-2028 USD Mn)
11.5.1.3. GCC Smart Electricity Meters Market by End-Use, (2019-2028 USD Mn)
11.5.2. South Africa
11.5.2.1. South Africa Smart Electricity Meters Market by Phase, (2019-2028 USD Mn)
11.5.2.2. South Africa Smart Electricity Meters Market by Technology, (2019-2028 USD Mn)
11.5.2.3. South Africa Smart Electricity Meters Market by End-Use, (2019-2028 USD Mn)
11.5.3. Rest of MEA
11.5.3.1. Rest of MEA Smart Electricity Meters Market by Phase, (2019-2028 USD Mn)
11.5.3.2. Rest of MEA Smart Electricity Meters Market by Technology, (2019-2028 USD Mn)
11.5.3.3. Rest of MEA Smart Electricity Meters Market by End-Use, (2019-2028 USD Mn)

 

12. Company Profiles


12.1. ABB Ltd.
12.1.1. Business Description
12.1.2. Financial Health and Budget Allocation
12.1.3. Product Positions/Portfolio
12.1.4. Recent Development
12.1.5. SWOT Analysis
12.2. GENERAL ELECTRIC
12.2.1. Business Description
12.2.2. Financial Health and Budget Allocation
12.2.3. Product Positions/Portfolio
12.2.4. Recent Development
12.2.5. SWOT Analysis
12.3. Holley Technology LTD.
12.3.1. Business Description
12.3.2. Financial Health and Budget Allocation
12.3.3. Product Positions/Portfolio
12.3.4. Recent Development
12.3.5. SWOT Analysis
12.4. Elster Group GmbH
12.4.1. Business Description
12.4.2. Financial Health and Budget Allocation
12.4.3. Product Positions/Portfolio
12.4.4. Recent Development
12.4.5. SWOT Analysis
12.5. Iskraemeco d.d.
12.5.1. Business Description
12.5.2. Financial Health and Budget Allocation
12.5.3. Product Positions/Portfolio
12.5.4. Recent Development
12.5.5. SWOT Analysis
12.6. Itron Inc.
12.6.1. Business Description
12.6.2. Financial Health and Budget Allocation
12.6.3. Product Positions/Portfolio
12.6.4. Recent Development
12.6.5. SWOT Analysis
12.7. Landis+Gyr
12.7.1. Business Description
12.7.2. Financial Health and Budget Allocation
12.7.3. Product Positions/Portfolio
12.7.4. Recent Development
12.7.5. SWOT Analysis
12.8. Schneider Electric, Inc.
12.8.1. Business Description
12.8.2. Financial Health and Budget Allocation
12.8.3. Product Positions/Portfolio
12.8.4. Recent Development
12.8.5. SWOT Analysis
12.9. Siemens
12.9.1. Business Description
12.9.2. Financial Health and Budget Allocation
12.9.3. Product Positions/Portfolio
12.9.4. Recent Development
12.9.5. SWOT Analysis
12.10. Aclara Technologies LLC
12.10.1. Business Description
12.10.2. Financial Health and Budget Allocation
12.10.3. Product Positions/Portfolio
12.10.4. Recent Development
12.10.5. SWOT Analysis
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