The global smart electric meter market is projected to reach USD 14.26 Billion by 2021. This growth can be attributed to the rising investments in smart grid projects and increasing upgradation of transmission & distribution infrastructure, triggered by the rising demand for energy.
“Smart electric meter market projected to grow at a CAGR of 10% from 2016 to 2021”
The smart electric meter market is projected to reach USD 14.26 million by 2021, growing at a CAGR of 10% during the forecast period. Smart electric meters playa crucial role in the industrial, manufacturing, and commercial sectors, measuring energy consumption of the consumers. The growings mart grid investments and surge in integration of renewable sources of power generation to the existing grids and increasing T&D refurbishment activities in developed economies are expected to drive the global smart electric meter market.
Complete report on Smart Electric Meter Market spread across 189 pages with 64 tables and 46 figures Profiling 12 Companies is now available at http://www.rnrmarketresearch.com/smart-electric-meter-market-by-communication-technology-rf-plc-and-cellular-end-user-residential-commercial-industrial-phase-single-phase-and-three-phase-and-by-region-global-trends-forecasts-to-2021-market-report.html
The report segments the smart electric meter market on the basis of phase into single and three phase. The three-phase smart electric meter segment is expected to grow at the highest CAGR during the forecast period. This can be attributed to the rising industrial and commercial activities, surge in investments in transmission & distribution infrastructure, and integration of renewable sources of energy in the existing power grid. However, the demand for single-phase smart electric meters is also set to increase as these are installed in the residential end-user segment, and are installed in greater volume when compared to three phase meters.
“Commercial: The fastest growing end-user segment”
Commercial is estimated to constitute the fastest growing end-user segment of the smart electric meter market. Increasing investments in development and construction of the commercial facilities like banking institutions, educational institutions, and others in developed and developing economies has fueled the growth in this segment.
“Europe: The fastest growing market for smart electric meters”
Europe is estimated to be the fastest growing market for smart electric meters, followed by the Asia-Pacific and North America. The U.K. accounted for the largest share in the European smart electric meter market in 2015, and is projected to grow at the highest CAGR, after Germany, from 2016 to 2021. This growth can be attributed to swift surge in the initiatives being taken to promote cleaner and greener energy. The European Union (EU) has proposed a 20:20:20 plan which aims at reducing greenhouse gas emissions. For achieving the same, replacement of the existing electrical infrastructure needs to be done, which would provide a boost to the smart electric meter market. Rising investments in renewable energy projects in the country also play a vital role in boosting the demand for smart electric meters.
Some of the leading players in the smart electric meter market are Itron (U.S.), Siemens AG (Germany), Aclara Technologies LLC (U.S.), Schneider Electric SE (France), and Wasion Group (China)
The report provides Executive Summary,Premium Insights,Market Overview on Smart Electric Meter Market By Phase, Smart Electric Meter Market By End-User, Smart Electric Meter Market By Communication Technology, Smart Electric Meter Market By Region , Competitive Landscape
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