Smart Electric Meter Market

Smart Electric Meter Market by Communication Technology Type (Radio Frequency, Power Line Communication, and Cellular), End-User (Residential, Commercial, and Industrial), Phase (Single Phase, and Three Phase), and Region - Global Forecast to 2023

Report Code: EP 4463 Apr, 2018, by marketsandmarkets.com

[198 Pages Report] The global smart electric meter market was valued USD 9.06 Billion in 2017; it is projected to reach USD 11.33 Billion by 2023, growing at a CAGR of 4.11%, during the forecast period. Increased need for efficient data monitoring systems coupled with favorable government policies for smart meter rollout, improved cost savings owing to the use of smart meters, increased investment in smart grid projects in key geographical regions such as Europe and North America, are likely to drive the smart electric meter market.

This report segments the smart electric meter market on the basis of phase, communication technology type, end-user, and region. The years considered for the study are as follows:

  • Base Year: 2017
  • Estimated Year: 2018
  • Projected Year: 2023
  • Forecast Period: 2018–2023

The base year used for company profiles was 2017. Where information was unavailable for the base year, the prior year has been considered.

Objectives of the Study

  • To define, segment, and forecast the global smart electric meter market by phase, communication technology type, end-user, and region
  • To provide detailed information on the major factors influencing the growth of the market, such as drivers, restraints, opportunities, and industry-specific challenges
  • To strategically analyze the smart electric meter market with respect to individual growth trends, future expansions, and contributions to the market
  • To forecast the market size of segments with respect to the regions, namely, North America, Asia Pacific, Europe, Latin America, the Middle East, and Africa
  • To analyze market opportunities for stakeholders and details of a competitive landscape for market leaders
  • To analyze competitive developments, such as expansions & investments, mergers & acquisitions, new product launches, contracts & agreements, and joint ventures & collaborations in the smart electric meter market
  • To strategically profile key players and comprehensively analyze their market shares and core competencies

Research Methodology

This research study involved the use of extensive secondary sources, directories, and databases, such as Hoovers, Bloomberg Businessweek, Factiva, and OneSource, to identify and collect information useful for a technical, market-oriented, and commercial study of the smart electric meter market. Primary sources are mainly industry experts from the core and related industries, preferred suppliers, manufacturers, distributors, service providers, technology developers, standards and certification organizations of companies, and organizations related to all the segments of this industry’s value chain. The points below explain the research methodology.

  • Study of the annual revenues and market developments of the major players that provide smart electric meter solutions
  • Assessment of future trends and growth of smart electric meter on the basis of phase, communication technology type, and end-user
  • Assessment of the smart electric meter market with respect to the technology used for different end-users and regions
  • Study of contracts and developments related to the smart electric meter market by key players across different regions
  • Finalization of overall market sizes by triangulating the supply-side data, which includes product launches, supply chain, and annual revenues of companies supplying smart electric meter products across the globe

After arriving at the overall market size, the total market has been split into several segments and subsegments. The figure given below illustrates the breakdown of primaries conducted during the research study, on the basis of company type, designation, and region.

Smart Electric Meter Market

To know about the assumptions considered for the study, download the pdf brochure

Key players in the smart electric meter market are Itron (US), Landis+Gyr (Toshiba Corporation) (Switzerland), Jiangsu Linyang (China), Wasion (China), Aclara Technologies (Hubbell Incorporated) (US), Schneider (France), Siemens (Germany), Honeywell (US), and Iskraemeco (Slovenia).

Target Audience

The report’s target audience includes:

  • Consulting Companies in the Energy and Power Sector
  • Government and Research Organizations
  • Government Utility Providers
  • Metering Companies
  • Network Operators
  • Private Utility Providers
  • Smart Electric Meter Manufacturers, Dealers, and Suppliers
  • Smart Grid Players

Scope of the report:

  • By Phase
    • Single
    • Three
  • By Communication Technology Type
    • Power Line Communication (PLC)
    • Radio Frequency (RF)
    • Cellular
  • By End-Users
    • Industrial
    • Commercial
    • Residential
  • By Region
    • Asia Pacific
    • Europe
    • North America
    • Middle East
    • Latin America
    • Africa

Available Customizations:

With the given market data, MarketsandMarkets offers customizations as per the client’s specific needs. The following customization options are available for the report:

Regional Analysis

  • Country-wise analysis can be extended by one country for every region.

Company Information

  • Detailed analysis and profiling of additional market players (up to 5)

The smart electric meter market is projected to grow from an estimated USD 9.27 Billion in 2018 to USD 11.33 Billion by 2023, at a CAGR of 4.11%, from 2018 to 2023. The increased need for efficient data monitoring systems, coupled with favourable government policies for a smart meter rollout is driving the market for smart electric meters. Other factors include improved cost savings, increased investment in smart grid projects in Europe and North America, and increased emphasis on renewable energy sources.

The report segments the smart electric meter market, on the basis of end-user, into residential, commercial, and industrial. The residential segment led the smart electric meter market by end-user from 2018 to 2023, owing to the widespread use of sophisticated electrical, electronic, and data equipment. The commercial segment is expected to be the fastest-growing segment of the smart electric meter market, by end-user, during the forecast period.

The global smart electric meter market, by communication technology type, has been segmented into PLC, RF, and cellular-based meters. The PLC segment is the fastest-growing market during the forecast period and is also projected to dominate the market during the same period. PLC is the most commonly used communication technology due to its advantages such as the use of the existing utility infrastructure of poles & wires, improved cost-effectiveness for rural lines, and usability in a challenging terrain.

The report further segments the smart electric meter market, by phase, into single-phase and three-phase configurations. The three-phase segment is the fastest-growing market during the forecast period and is also projected to dominate the market during the same period. Three-phase meters are mostly used in industrial applications and in large commercial applications. Single-phase smart electric meters are mostly used in residential applications and across various industries such as the chemical plants, food & beverage, cement, steel manufacturing, automotive.

In this report, the smart electric meter market has been analyzed with respect to six regions, namely, Asia Pacific, North America, Europe, the Middle East, Latin America, and Africa. Asia Pacific is expected to dominate the smart electric meter market during the forecast period because of the rise in investments in smart grid technologies and smart cities, the increase in the number of data centers, and a surge in IT hubs and commercial institutions. Europe is expected to grow at the fastest rate during the forecast period because of government initiatives such as the European Union’s (EU) 20:20:20 plan, which aims at reducing greenhouse gas emissions.

The figure below shows the projected market sizes of various regions with respective CAGRs for 2023.

Smart Electric Meter Market

The major factor restraining the growth of the smart electric meter market are the delay in smart meter rollout projects, and high initial investment acting as a restraint for growth in developing economies.

Some of the leading players in the smart electric meter market include Itron (US), Landis+Gyr (Toshiba Corporation) (Switzerland), Jiangsu Linyang (China), Wasion (China), Aclara Technologies (Hubbell Incorporated) (US), Schneider (France), Siemens (Germany), Honeywell (US), and Iskraemeco (Slovenia). These players have adopted growth strategies such as new product launches, contracts & agreements, partnerships, collaborations, alliances, and joint ventures, mergers & acquisitions, and investments & expansions to capture a larger share of the smart electric meter market.

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 16)
    1.1 Objectives of the Study
    1.2 Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 Countries Covered
    1.4 Years Considered for the Study
    1.5 Currency
    1.6 Stakeholders

2 Research Methodology (Page No. - 19)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primaries
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Market Breakdown & Data Triangulation
    2.4 Assumptions
    2.5 Limitations

3 Executive Summary (Page No. - 27)

4 Premium Insights (Page No. - 33)
    4.1 Attractive Opportunities in the Smart Electric Meter Market
    4.2 Smart Electric Meter Market, By End-User
    4.3 Smart Electric Meter Market, By Country
    4.4 Asia Pacific Market, By End-User & Country
    4.5 Smart Electric Meter Market, By Phase
    4.6 Smart Electric Meter Market, By Communication Technology Type

5 Market Overview (Page No. - 37)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Increased Need for Efficient Data Monitoring Systems Coupled With Favorable Government Policies for Smart Meter Rollout
                    5.2.1.2 Improved Cost Savings Owing to the Use of Smart Meters Make A Definitive Case for Adoption
                    5.2.1.3 Increased Investment in Smart Grid Projects in Key Regions Such as Europe and North America
                    5.2.1.4 Increasing Emphasis on Renewable Energy Sources Globally
           5.2.2 Restraints
                    5.2.2.1 High Initial Investment Acting as A Restraint for Growth in Developing Economies
                    5.2.2.2 Delay in Smart Meter Rollout Projects
           5.2.3 Opportunities
                    5.2.3.1 Demand for Smart Grids and Energy Efficiency in Emerging Markets
                    5.2.3.2 Electric Vehicle and Grid Integration
           5.2.4 Challenges
                    5.2.4.1 Cybersecurity & Data Privacy

6 Smart Electric Meter Market, By Phase (Page No. - 45)
    6.1 Introduction
    6.2 Single Phase
    6.3 Three Phase

7 Smart Electric Meter Market, By Communication Technology Type (Page No. - 49)
    7.1 Introduction
    7.2 Power Line Communication
    7.3 Radio Frequency
    7.4 Cellular

8 Smart Electric Meter Market, By End-User (Page No. - 54)
    8.1 Introduction
    8.2 Residential
    8.3 Commercial
    8.4 Industrial

9 Smart Electric Meter Market, By Region (Page No. - 59)
    9.1 Introduction
    9.2 Asia Pacific
           9.2.1 By Phase
           9.2.2 By Communication Technology Type
           9.2.3 By End-User
           9.2.4 By Country
                    9.2.4.1 China
                    9.2.4.2 Japan
                    9.2.4.3 Australia
                    9.2.4.4 India
                    9.2.4.5 Rest of Asia Pacific
    9.3 North America
           9.3.1 By Phase
           9.3.2 By Communication Technology Type
           9.3.3 By End-User
           9.3.4 By Country
                    9.3.4.1 US
                    9.3.4.2 Canada
    9.4 Europe
           9.4.1 By Phase
           9.4.2 By Communication Technology Type
           9.4.3 By End-User
           9.4.4 By Country
                    9.4.4.1 UK
                    9.4.4.2 Germany
                    9.4.4.3 France
                    9.4.4.4 Rest of Europe
    9.5 Latin America
           9.5.1 By Phase
           9.5.2 By Communication Technology Type
           9.5.3 By End-User
           9.5.4 By Country
                    9.5.4.1 Brazil
                    9.5.4.2 Mexico
                    9.5.4.3 Rest of Latin America
    9.6 Middle East
           9.6.1 By Phase
           9.6.2 By Communication Technology Type
           9.6.3 By End-User
           9.6.4 By Country
                    9.6.4.1 Saudi Arabia
                    9.6.4.2 UAE
                    9.6.4.3 Kuwait
                    9.6.4.4 Rest of the Middle East
    9.7 Africa
           9.7.1 By Phase
           9.7.2 By Communication Technology Type
           9.7.3 By End-User
           9.7.4 By Country
                    9.7.4.1 South Africa
                    9.7.4.2 Rest of Africa

10 Competitive Landscape (Page No. - 99)
     10.1 Introduction
     10.2 Key Players & Market Structure
     10.3 Competitive Scenario
             10.3.1 Contracts & Agreements
             10.3.2 New Product Launches
             10.3.3 Investments & Expansions
             10.3.4 Mergers & Acquisitions
             10.3.5 Partnerships, Collaborations, Alliances, & Joint Ventures

11 Company Profiles (Page No. - 105)
(Business Overview, Products Offered, Recent Developments, MnM View)*
     11.1 Benchmarking
     11.2 Landis+Gyr (Toshiba Corporation)
     11.3 Itron
     11.4 Honeywell
     11.5 Aclara
     11.6 Microchip Technology
     11.7 Iskraemeco
     11.8 Wasion Group
     11.9 Schneider Electric
     11.10 Jiangsu Linyang
     11.11 Siemens
     11.12 Genus Power Infrastructure
     11.13 Networked Energy Services
     11.14 Holley Metering

*Details on Business Overview, Products Offered, Recent Developments, MnM View Might Not Be Captured in Case of Unlisted Companies.

12 Appendix (Page No. - 146)
     12.1 Insights of Industry Experts
     12.2 Discussion Guide
     12.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     12.4 Introducing RT: Real-Time Market Intelligence
     12.5 Available Customizations
     12.6 Related Reports
     12.7 Author Details


List of Tables (83 Tables)

Table 1 Global Smart Electric Meter Market Snapshot
Table 2 Key Smart Grid Investment Initiatives
Table 3 Market Size, By Phase, 2016–2023 (USD Million)
Table 4 Single Phase: Market Size, By Region, 2016–2023 (USD Million)
Table 5 Three Phase: Market Size, By Region, 2016–2023 (USD Million)
Table 6 Smart Electric Meter Market Size, By Communication Technology Type, 2016–2023 (USD Million)
Table 7 Power Line Communication Technology: Market Size, By Region, 2016–2023 (USD Million)
Table 8 Radio Frequency Communication Technology: Market Size, By Region, 2016–2023 (USD Million)
Table 9 Cellular Communication Technology: Market Size, By Region, 2016–2023 (USD Million)
Table 10 Smart Electric Meter Market Size, By End-User, 2016–2023 (USD Million)
Table 11 Residential: Market Size, By Region, 2016–2023 (USD Million)
Table 12 Commercial: Market Size, By Region, 2016–2023 (USD Million)
Table 13 Industrial: Market Size, By Region, 2016–2023 (USD Million)
Table 14 Market Size, By Region, 2016–2023 (Million Units)
Table 15 Market Size, By Region, 2016–2023 (USD Million)
Table 16 Asia Pacific: Market Size, By Phase, 2016–2023 (USD Million)
Table 17 Asia Pacific: Market Size, By Communication Technology Type, 2016–2023 (USD Million)
Table 18 Asia Pacific: Market Size, By End-User, 2016–2023 (USD Million)
Table 19 Asia Pacific: Residential Market Size, By Country, 2016–2023 (USD Million)
Table 20 Asia Pacific: Commercial Market Size, By Country, 2016–2023 (USD Million)
Table 21 Asia Pacific: Industrial Market Size, By Country, 2016–2023 (USD Million)
Table 22 Asia Pacific: Smart Electric Meter Size, By Country, 2016–2023 (USD Million)
Table 23 China: Market Size, By End-User, 2016–2023 (USD Million)
Table 24 Japan: Market Size, By End-User, 2016–2023 (USD Million)
Table 25 Australia: Market Size, By End-User, 2016–2023 (USD Million)
Table 26 India: Market Size, By End-User, 2016–2023 (USD Million)
Table 27 Rest of Asia Pacific: Market Size, By End-User, 2016–2023 (USD Million)
Table 28 North America: Market Size, By Phase, 2016–2023 (USD Million)
Table 29 North America: Market Size, By Communication Technology Type, 2016–2023 (USD Million)
Table 30 North America: Market Size, By End-User, 2016–2023 (USD Million)
Table 31 North America: Residential Smart Electric Meter Market Size, By Country, 2016–2023 (USD Million)
Table 32 North America: Commercial Smart Electric Meter Market Size, By Country, 2016–2023 (USD Million)
Table 33 North America: Industrial Smart Electric Meter Market Size, By Country, 2016–2023 (USD Million)
Table 34 North America: Smart Electric Meter Size, By Country, 2016–2023 (USD Million)
Table 35 US: Market Size, By End-User, 2016–2023 (USD Million)
Table 36 Canada: Market Size, By End-User, 2016–2023 (USD Million)
Table 37 Europe: Market Size, By Phase, 2016–2023 (USD Million)
Table 38 Europe: Market Size, By Communication Technology Type, 2016–2023 (USD Million)
Table 39 Europe: Market Size, By End-User, 2016–2023 (USD Million)
Table 40 Europe: Residential Market Size, By Country, 2016–2023 (USD Million)
Table 41 Europe: Commercial Market Size, By Country, 2016–2023 (USD Million)
Table 42 Europe: Industrial  Market Size, By Country, 2016–2023 (USD Million)
Table 43 Europe: Smart Electric Meter Size, By Country, 2016–2023 (USD Million)
Table 44 UK: Market Size, By End-User, 2016–2023 (USD Million)
Table 45 Germany: Market Size, By End-User, 2016–2023 (USD Million)
Table 46 France: Market Size, By End-User, 2016–2023 (USD Million)
Table 47 Rest of Europe: Market Size, By End-User, 2016–2023 (USD Million)
Table 48 Latin America: Market Size, By Phase, 2016–2023 (USD Million)
Table 49 Latin America: Market Size, By Communication Technology Type, 2016–2023 (USD Million)
Table 50 Latin America: Market Size, By End-User, 2016–2023 (USD Million)
Table 51 Latin America: Residential Market Size, By Country, 2016–2023 (USD Million)
Table 52 Latin America: Commercial Market Size, By Country, 2016–2023 (USD Million)
Table 53 Latin America: Industrial Market Size, By Country, 2016–2023 (USD Million)
Table 54 Latin America: Smart Electric Meter Size, By Country, 2016–2023 (USD Million)
Table 55 Brazil: Market Size, By End-User, 2016–2023 (USD Million)
Table 56 Mexico: Market Size, By End-User, 2016–2023 (USD Million)
Table 57 Latin America: Market Size, By End-User, 2016–2023 (USD Million)
Table 58 Middle East: Market Size, By Phase, 2016–2023 (USD Million)
Table 59 Middle East: Market Size, By Communication Technology Type, 2016–2023 (USD Million)
Table 60 Middle East: Market Size, By End-User, 2016–2023 (USD Million)
Table 61 Middle East: Residential Market Size, By Country, 2016–2023 (USD Million)
Table 62 Middle East: Commercial Market Size, By Country, 2016–2023 (USD Million)
Table 63 Middle East: Industrial Market Size, By Country, 2016–2023 (USD Million)
Table 64 Middle East: Smart Electric Meter Size, By Country, 2016–2023 (USD Million)
Table 65 Saudi Arabia: Market Size, By End-User, 2016–2023 (USD Million)
Table 66 UAE: Market Size, By End-User, 2016–2023 (USD Million)
Table 67 Kuwait: Market Size, By End-User, 2016–2023 (USD Million)
Table 68 Rest of the Middle East: Market Size, By End-User, 2016–2023 (USD Million)
Table 69 Africa: Market Size, By Phase, 2016–2023 (USD Million)
Table 70 Africa: Market Size, By Communication Technology Type, 2016–2023 (USD Million)
Table 71 Africa: Market Size, By End-User, 2016–2023 (USD Million)
Table 72 Africa: Residential Smart Electric Meter Market Size, By Country, 2016–2023 (USD Million)
Table 73 Africa: Commercial Market Size, By Country, 2016–2023 (USD Million)
Table 74 Africa: Industrial Market Size, By Country, 2016–2023 (USD Million)
Table 75 Africa: Smart Electric Meter Size, By Country, 2016–2023 (USD Million)
Table 76 South Africa: Market Size, By End-User, 2016–2023 (USD Million)
Table 77 Rest of Africa: Market Size, By End-User, 2016–2023 (USD Million)
Table 78 Landis+Gyr Was the Most Active Player in the Market, January 2014–March 2018
Table 79 Contracts & Agreements, 2014–February 2018
Table 80 New Product Launches, 2014–January 2018
Table 81 Investments & Expansions, 2014–May 2017
Table 82 Mergers & Acquisitions, 2014–August 2017
Table 83 Partnerships, Collaborations, Alliances, & Joint Ventures, 2014–March 2018


List of Figures (39 Figures)

Figure 1 Market Segmentation: Smart Electric Meter Market
Figure 2 Research Design
Figure 3 Bottom-Up Approach
Figure 4 Top-Down Approach
Figure 5 Data Triangulation Methodology
Figure 6 Asia Pacific Dominated the Market in 2017
Figure 7 Comparison of Regional Market Without Chinese Market (2017)
Figure 8 Three-Phase Segment is Expected to Dominate the Smart Electric Meter Market During the Forecast Period
Figure 9 Residential End-User Segment to Dominate the Market During the Forecast Period
Figure 10 Market Share (Value), By End-User Type, 2017
Figure 11 PLC Communication Technology Type Segment to Dominated the Market During the Forecast Period
Figure 12 Top Market Developments (2014–2017)
Figure 13 Electric Vehicle & Grid Integration: an Attractive Opportunity for the Market in the Future
Figure 14 Commercial End-User Segment is Expected to Grow at the Highest Rate During the Forecast Period
Figure 15 Germany Expected to Grow at the Highest CAGR During the Forecast Period
Figure 16 China Held the Largest Share in the Market in 2017
Figure 17 Three-Phase Segment is Expected to Grow at the Highest Rate During the Forecast Period
Figure 18 PLC Segment is Expected to Dominate the Communication Technology Type Market During the Forecast Period
Figure 19 Market Dynamics: Smart Electric Meter Market
Figure 20 Total Renewable Energy Capacity
Figure 21 Electric Car Sales, 2012–2016
Figure 22 Electric Car Sales, By Country, 2012–2016
Figure 23 The Three Phase Segment is Expected to Have the Largest Market Share During the Forecast Period
Figure 24 The PLC Communication Technology Type Segment is Expected to Have the Largest Market Share During the Forecast Period
Figure 25 Europe is the Fastest Growing Region in the Power Line Communication-Based Smart Electricity Meter Segment, 2018 vs 2023
Figure 26 The Residential End-User Segment is Expected to Account for the Largest Market, 2018 vs 2023
Figure 27 Asia Pacific Dominated the Market in 2017
Figure 28 Market Size, By Region, 2018–2023 (USD Million)
Figure 29 Asia Pacific: Market Snapshot
Figure 30 North America: Market Snapshot
Figure 31 Key Developments in the Market, January 2014–March 2018
Figure 32 Market Shares of the Major Players in the Market, By Value, 2016
Figure 33 Itron: Company Snapshot
Figure 34 Honeywell: Company Snapshot
Figure 35 Microchip Technology: Company Snapshot
Figure 36 Wasion Group: Company Snapshot
Figure 37 Schneider Electric: Company Snapshot
Figure 38 Siemens: Company Snapshot
Figure 39 Genus Power Infrastructure: Company Snapshot


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