1. Market Research
  2. > Energy & Environment
  3. > Energy Technology Market Trends
Global Smart Meter Market By Product, By End User, By Region, Industry Analysis and Forecast, 2020 - 2026

Global Smart Meter Market By Product, By End User, By Region, Industry Analysis and Forecast, 2020 - 2026

  • December 2020
  • 176 pages
  • ID: 5999875
  • Format: PDF
  • KBV Research
Up to $907 off Until Mar 10th 2021

Summary

Table of Contents

The Global Smart Meter Market size is expected to reach $38 billion by 2026, rising at a market growth of 11.1% CAGR during the forecast period. Smart meters are referred to as electronic devices that precisely track electricity, gas, and water utilization. Usage information can be sent by these smart meters via power line communication, radiofrequency electromagnetic radiation (RF), and cellular communication, assisting the utility company to successfully manage the use of energy. A lot of advantages are provided by smart meters such as decreasing meter reading cost, preventing disconnection, reducing errors in billing, and re-connection cost to consumers and corporations.

Smart electricity metering systems are utilized to reduce the demand for peak electricity and permit end-users to smoothly track power consumption and decrease it accordingly. Energy suppliers use these devices to maximum advantages by aligning their advantages of a decrease in reaction time to solve hardware inefficiencies and power outages and providing enhanced customer service delivery because of remote reading conveniences. For the reason that energy production utilizing renewable methods differs with time, low power production finally results in unstable energy productivity.

Nonetheless, utilizing the metering device assists with repaying for this loss by managing the consumption of energy of numerous electronic devices because it is capable of controlling irregular supply. Numerous smart meters rollout policies in various regions like beneficial government initiatives being taken in nations that include U.S and U.K. are helping the deploying of these devices, which is anticipated to assume a significant role in the growth of the industry.

By Product

Based on Product, the market is segmented into Smart Electric Meters, Smart Water Meters, and Smart Gas Meters. In 2019, the market was dominated by the electricity meter segment in terms of revenue and is expected to continue the same trend during the forecast period. The introduction of beneficial regulatory policies to substitute traditional meters with intelligent metering systems to successfully track and govern power consumption will benefit the industry outlook. Furthermore, growing investments by private and public players for the installation of the smart grid will positively impact the business scenario.

By End User

Based on End User, the market is segmented into Residential, Commercial and Industrial. The Residential segment has generated maximum revenue in 2019. Progressing industrialization combined with economic growth and rising urbanization will boost the growth of the market. The considerable advancement in living standards in terms of increasing per capita income has moved consumer focus towards the acceptance of advanced technologies. Moreover, strict government norms towards the expansion of existing grid infrastructure and decreasing power theft will support the demand of the demand.

By Region

Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. The Asia Pacific is the biggest market for smart meters in the world, mainly because of China, and the trend is anticipated to continue during the forecast period. The regional market is boosted by the increasing importance to decrease carbon emissions from utility operations and successfully incorporate DER such as wind and solar power for improved power sector operations.

The major strategies followed by the market participants are Product Launches and Partnerships. Based on the Analysis presented in the Cardinal matrix; Siemens AG, Schneider Electric SE, and Honeywell International, Inc. are the forerunners in the Smart Meter Market. Companies such as Itron, Inc., Landis+Gyr Group AG, Badger Meter, Inc., Xylem, Inc., General Electric (GE) Co., and Neptune Technology Group, Inc. are some of the key innovators in the market.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Schneider Electric SE, Siemens AG, General Electric (GE) Co., Honeywell International, Inc., Xylem, Inc. (Sensus), Badger Meter, Inc., Landis+Gyr Group AG, Itron, Inc., Neptune Technology Group, Inc. (Roper Technologies, Inc.) and Holley Technology Ltd.

Recent strategies deployed in Smart Meter Market

Partnerships, Collaborations, and Agreements:

Oct-2020: Schneider Electric partnered with SolarEdge Technologies, a provider of power optimizers, solar inverter, and monitoring systems for photovoltaic arrays. The partnership aimed to boost the residential solar market and offer homeowners coherent energy management for smart homes in the nearby future.

Oct-2020: Landis+Gyr extended its partnership agreement with Calvin Capital, a leading owner, and manager of essential energy infrastructure. The partnership provided a flexible volume of SMETS2 smart meters to help the roll-out obligations of independent UK energy suppliers that applied Calvin Capital as their Meter Asset Provider.

Sep-2020: Landis+Gyr partnered with Vodafone, a telecommunication giant. The partnership focused on boosting the adoption of green energy technologies and allow Landis+Gyr customers to link their smart meters and smart grid applications to more than 400 networks in 180 countries by using Vodafone Business’ Internet of Things (IoT) services.

May-2020: Landis+Gyr came in contract with Indianapolis Power & Light Company (IPL), an American utility company providing electric service. Under the contract, the company announced the addition of 350,000 advanced meters and updated network infrastructure to IPL’s existing AMI program, and Landis+Gyr continued to offer network and meter management services, along with software hosting.

May-2020: Itron collaborated with EDMI Limited, a global smart metering solutions company. The collaboration was focused on developing and launching a SMETS2-compliant gas meter for the United Kingdom, which address the increasing demand in the region by bringing a complete solution to the market for safe and reliable management of natural gas delivery.

Mar-2020: Itron came into a partnership agreement with Smart Energy Water (SEW), a leading provider of cloud-based SaaS solutions to the energy, water, and gas providers. The partnership aimed to promote customer experience in the global energy and water industries, they provided SEW’s Smart Customer Mobile, a digital customer experience platform for energy and water utilities and cities migrating to advanced metering infrastructure (AMI) networks.

Feb-2020: Itron partnered with Grid4C, an AI and Machine Learning solutions. Under this partnership agreement, Grid4C provided its AI software solution for integration with Itron’s Riva IoT smart metering solution, offered a secure computing environment, application management, and real-time data delivery to offer edge processing and real-time insights.

Jan-2020: Sensus collaborated with Tacoma Public Utilities (TPU). Under this collaboration, the Sensus solution provided the latest technology to empower Tacoma’s customers to make better decisions about their energy and water use.

Jan-2020: Honeywell came into an agreement of collaboration with Verizon. The collaboration helped utilities speed up and simplify the deployment of new communication-enabled, intelligent sensors, and controls for the smart electric grid.

Jun-2019: Schneider Electric came in contract with Hellenic Electricity Distribution Network Operator (HEDNO). The contract aimed to replace conventional electricity meters of HENDO with smart meters.

Acquisition and Mergers:

Nov-2020: Badger Meter acquired s::can GmbH, a privately-held provider of water quality monitoring systems. It enhanced the scope of actionable data for municipalities to upgrade operational security, awareness, and efficiency.

Sep-2020: Schneider Electric owned a 65% stake in L&T’s Electrical and Automation (E&A) business. The acquisition helped Schneider in making a much stronger balance sheet, thereby creating long-term value opportunities for the stakeholders by focusing on key aspects of the business.

Jun-2017: Itron acquired Comverge by purchasing its parent company, Peak Holding Corp. This acquisition strengthened its portfolio of grid solutions with the changing distributed energy management applications using Itron’s OpenWay Riva IoT solution.

Product Launches and Product Expansions:

Nov-2020: Siemens upgraded its EnergyIP meter data management application. It enabled more than 200 electricity, gas, and water utility companies to manage more than 90 million meters. The company improved its computing efficiency and customer service by offering a cloud-hosted service as well.

Aug-2020: Badger Meter introduced a new metering-as-a-service solution, netAMP. The solution provides customers with a fixed, subscription-based metering-as-a-service program to collect all their Badger Meter equipment, meters, software, and services to upgrade antiquated infrastructures.

Mar-2020: Itron introduced its Cyble 5 communications module. This module helped utilities to take profit from the extended connectivity options to further advance data collection and billing efficiency. The Cyble 5 communication module transform gas and water mechanical meters into connected data points that enables utilities to draw advantage of drive-by Automated Meter Reading (AMR) and IoT data collection (LoRaWan/Sigfox).

Jan-2020: Schneider Electric expanded the PowerLogic ION9000 series by introducing PowerLogic ION9000T. The new range added high-speed transient capture capabilities, helping critical facilities avoid outages, equipment damage, failures, and interruption of operations.

Jan-2020: Landis+Gyr introduced LTE-M, an Omni-carrier cellular meter, and services solution. The product simplified the installation and operation of cellular communications for utility IoT applications.

Mar-2019: Badger Meter launched a full suite of smart water technologies and services, BEACON to the City of Columbia, South Carolina. It aimed to improve the city’s efficiency and reduce water loss by providing real-time access to detailed water usage data, enhanced customer service, and empowered their nearly 150,000 customers to better manage their water usage.

Scope of the Study

Market Segments Covered in the Report:

By Product

• Smart Electric Meters

• Smart Water Meters

• Smart Gas Meters

By End User

• Residential

• Commercial

• Industrial

By Geography

• North America

o US

o Canada

o Mexico

o Rest of North America

• Europe

o Germany

o UK

o France

o Russia

o Spain

o Italy

o Rest of Europe

• Asia Pacific

o China

o Japan

o India

o South Korea

o Singapore

o Malaysia

o Rest of Asia Pacific

• LAMEA

o Brazil

o Argentina

o UAE

o Saudi Arabia

o South Africa

o Nigeria

o Rest of LAMEA

Companies Profiled

• Schneider Electric SE

• Siemens AG

• General Electric (GE) Co.

• Honeywell International, Inc.

• Xylem, Inc. (Sensus)

• Badger Meter, Inc.

• Landis+Gyr Group AG

• Itron, Inc.

• Neptune Technology Group, Inc. (Roper Technologies, Inc.)

• Holley Technology Ltd.

Unique Offerings

• Exhaustive coverage

• Highest number of market tables and figures

• Subscription based model available

• Guaranteed best price

• Assured post sales research support with 10% customization free

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
15% Off

$3600

  • 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.

ReportLinker may already be registered as a supplier with your company. If you want to Order by PO, check with us first and we'll let you know if we are a registered supplier and what the vendor number is. Otherwise, we'll provide you with the necessary information to register ReportLinker as a vendor.

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

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at researchadvisor@reportlinker.com to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - researchadvisor@reportlinker.com or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers

South and Central America Smart Meters Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

  • $ 3750
  • February 2021
  • 144 pages

The South and Central American Smart Meter Market witnessed a shipment of approximately 4.14 million units of smart meters in 2020 and is estimated to reach to 7.86 Million units by 2026, registering a ...

  • Latin America
  • World
  • Smart Meter
  • Industry analysis
  • Energy Consumption
  • Natural Gas Production

ref:plp2020

Reportlinker.com © Copyright 2021. All rights reserved.

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

Make sure you don’t miss any news and follow us on