1. Market Research
  2. > Energy & Environment
  3. > Energy Technology Market Trends

Smart Meters Market Analysis And Segment Forecasts To 2020

  • May 2016
  • 76 pages
  • Grand View Research
Report ID: 3339535

Summary

Table of Contents

The global market for smart meters is expected to reach USD 22,177 million by 2020. Smart meters provide two-way communication and benefits including time-based rates, faster power outage detection and resolution, and dynamic pricing among others. Initiatives by regulatory authorities to establish smart grids and ensure energy efficiency are expected to be a considerable growth driver over the forecast period.

Benefits of smart meter installations resonate across the value chain, which is also a key driving force for the industry. Customers can potentially cut down costs by lowering peak hour electricity demand; additionally, on-site visits and manual readings can be eliminated. Inconsistencies in deployment on a regional level coupled with lack of standardization in technology are expected to pose a barrier to market growth.

Further Key findings from the study suggest:

Global smart meter shipments were estimated to be 59.6 million units in 2012, which is expected to reach 165.5 million units by 2020, growing at a CAGR of 9.8% from 2014 to 2020

Residential applications accounted for 82.6% of overall shipments in 2012, and are expected to remain the largest segment in terms of volume over the next six years. This segment is also expected to be the fastest growing, at an estimated CAGR of 10.0% from 2014 to 2020. However, in terms of revenue, they accounted for significantly smaller market share in 2012. This can be primarily attributed to high technical requirements and selling prices of industrial and commercial smart meters.

Asia Pacific is expected to be the largest regional market in terms of volume and revenue over the forecast period, and accounted for 49.2% of overall shipments in 2012. Europe is expected to be the fastest growing market in terms of revenue, at an estimated CAGR of 9.4% from 2014 to 2020. The market in Europe is expected to contribute significantly to global revenue generation, which can be attributed to high selling prices as compared to other regions.

The global smart meters market consists of a large number of participants such as Itron, Landis+Gyr, Elster, and Sensus among others. Mergers and acquisitions and vertical integration have been the key growth strategies followed by industry players in order to gain market share and expand their product portfolio. High demand from emerging markets on account of energy efficiency programs and growing need for enabling smart homes is expected to positively impact profitability. Other companies operating in the market include Jiangsu Linyang, Holley Metering, Echelon, Aclara, etc.

For the purpose of this study, Grand View Research has segmented the global smart meters market on the basis of application and region:

- Smart Meters Application Outlook (Volume, Million Units and Revenue, USD Million; 2012 – 2020)
- Residential
- Commercial
- Industrial
- Smart Meters Regional Outlook (Volume, Million Units and Revenue, USD Million; 2012 – 2020)
- North America
- Europe
- Asia Pacific
- RoW

Please note: this report requires certain updates. We have all the information available but require 2 business days to complete the process and ensure it is as up-to-date as possible.


Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 60 Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

Ahmad helps you find the right report:

Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

Purchase Reports From Reputable Market Research Publishers

Smart Meters Market by Type, Application, Technology, and by Region - Global Forecasts to 2022

  • $ 5650
  • Industry report
  • April 2017
  • by MarketsandMarkets

“The smart meters market is projected to grow at a CAGR of 9.34% from 2017 to 2022” The smart meters market is projected to reach USD 19.98 billion by 2022, at a CAGR of 9.34% from 2017 to 2022. Smart ...

Global Smart Water Metering Market Analysis & Trends - Industry Forecast to 2025

  • $ 4200
  • Industry report
  • March 2017
  • by Accuray Research LLP

The Global Smart Water Metering Market is poised to grow at a CAGR of around 8.8% over the next decade to reach approximately $8.70 billion by 2025. This industry report analyzes the market estimates and ...

Asia-Pacific Smart Meters Market Outlook to 2022 - Market Analysis by Geography, Technology, Competitive Landscape, Key Company Information - Growth Trends and Forecasts (2017 - 2022)

  • $ 3850
  • Industry report
  • February 2017
  • by Mordor Intelligence LLP

As smart meter installations wane in the North America, Asia-Pacific has become the new leader in smart grid spending. Spending on grid modernization was up globally last year to nearly $15 billion, but ...


ref:plp2016

Reportlinker.com © Copyright 2017. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.