According to industry research report “Smart Metering Systems Market
Size, By Application (Residential, Commercial, Utility), By Product (Water
meters, Electricity meters, Gas meters), By Technology (AMR, AMI), Industry
Analysis Report, Regional Outlook (U.S., Canada, Germany, Italy, France, UK,
Sweden, Portugal, China, Japan, South Korea, India, Australia, UAE, Saudi
Arabia, South Africa, Lebanon, Egypt, Mexico, Brazil, Uruguay, Argentina)
Competitive
Market Share & Forecast, 2016 – 2024”, global smart
metering systems market to worth USD 38
billion by 2024; per a new research report by Global Market Insights, Inc.
Increasing need for
accurate billing and consumption pattern mapping coupled with rising prices of
resources including water, electricity and gas will drive the global smart
metering systems market size by 2024. Scarcity of available resources has laid
emphasis on reducing wastage and controlling emission levels.
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Stringent regulations
towards energy management coupled with measures towards effective resource
utilization will propel demand. The Energy Independence Act (EISA) of 2007
mandates the modernization of the U.S. electric grids, installation of smart
electric systems in every household and grants government funding for grid
development projects.
Smart metering systems
market size for 2015 from residential applications was over USD 5 billion and
is set to witness strong growth owing to its reasonable pricing and increasing
awareness among customers. Commercial applications in terms of volume are
predicted to surpass 250 million units over the forecast timeframe due to rising
prices of available energy resources.
Smart metering systems
market share for 2015 from water is set to grow over 10% on account of
stringent regulations for controlling Non-Revenue Water (NRW). Electric
applications were valued over USD 4 billion in 2015 and is predicted to witness
handsome growth owing to stringent government regulation to curb electricity
theft.
AMI is set to exceed
USD 19 billion by 2024. Adoption of AMI are low subject to its high acquisition
and installation costs. AMR is predicted to grow over 13% over the forecast
timeline owing to its wide adoption and mature technology.
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key industry insights spread across 205 pages with 433 market data tables &
11 figures & charts from the report, “Smart Metering Systems Market” in detail along with the table of contents,
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The 2015 U.S. smart
metering systems market size was valued over USD 5 billion and is set to
witness high gain on account of strict norms towards energy management and
accurate billing. Growing measures towards energy conservation and efficiency
will further boost the industry growth.}
For Europe, UK smart
metering systems market share is predicted to grow over 16% by 2024. Government
of United Kingdom initiated the National Smart Meter Roll Out programme which
aims at installing smart systems in every home in England, Scotland and Wales
by 2020. Recommendation 2012/148/EU mandates increasing adoption of these
products coupled with large-scale roll out in regions with positive cost
benefit results.
China smart metering
systems market size is forecast to exceed USD 9 billion by 2024. The State Grid
Corporation of China has aimed to install more than 380 million smart systems
by 2020 in line with the government plan.
For MEA, Lebanon could
grow over 9% during the forecast period. In 2014, Electricité Du Liban (EDL) announced
a plan to roll out more than 1 million of these products as part of a USD 200
million programme to overhaul the existing technology and provide accurate
billing service.
Mexico smart metering
systems market share in terms of volume is set to exceed 6 million units by
2024. In 2016, state-owned Comision Federal de Electricidad (CFE) awarded a
contract for a roll out of 96,000 advanced meters in the region, positively
influencing the business outlook.
Key industry
participants include Landis+GYR, Siemens AG, Itron, Circutor, Schneider
Electric, Osaki Electric, Iskraemeco, Icsa and others.
Smart metering systems
market research report includes in-depth coverage of the industry with
estimates & forecast in terms of volume (Million Units) and revenue in USD
Billion from 2013 to 2024, for the following segments:
·
Global Smart
Metering Systems Market, By Application
o
Residential
o
Commercial
o
Utility
·
Global Smart Metering Systems Market, By
Product
o
Smart electricity meters
o
Smart water meters
o
Smart gas meters
·
Global Smart Metering Systems Market, By
Technology
o
AMI
o
AMR
The above information
is provided on a regional and country basis for the following:
·
North America
o
U.S.
o
Canada
·
Europe
o
Germany
o
Italy
o
France
o
UK
o
Sweden
o
Portugal
·
Asia Pacific
o
China
o
India
o
South Korea
o
Japan
o
Australia
·
Middle East & Africa
o
Saudi Arabia
o
South Africa
o
UAE
o
Lebanon
o
Egypt
·
Latin America
o
Mexico
o
Brazil
o
Uruguay
o
Argentina
About Global Market
Insights
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