Smart Meters Market

Smart Meters Market by Type (Electric, Gas, Water), Communication Type (RF, PLC, Cellular), Component (Hardware, Software), Technology (AMR, AMI), End-user (Residential, Commercial, Industrial), and Region - Global Forecast to 2025

Report Code: EP 3297 Mar, 2020, by marketsandmarkets.com
COVID-19

Get in-depth analysis of how COVID-19 is impacting the Smart Meters Market

Benchmarking the rapid strategy shifts of the Top 100 companies in the Smart Meters Market

Request Now

[180 Pages Report] The global smart meters market size is expected to grow from estimated revenue of USD 20.7 billion in 2020 to USD 28.6 billion by 2025, at a CAGR of 6.7%. This growth is attributed to the government mandate and support policies for smart meter installation across end-use sectors such as residential, commercial, and industrial.

Smart Meters Market

The smart electric segment is projected to have the largest share of the smart meters market during the forecast period

The smart meters market is segmented, by type, into smart electric, smart gas, and smart water meters. The smart electric segment accounted for the largest market share in 2019, driven by the growing emphasis on dynamic pricing and integration of growing DER into the existing power system operations in regions such as North America, Europe, and Asia Pacific. The future growth of the segment can be attributed to increasing demand for highly accurate and precise measurement of utility consumption data for consumers across end-users such as residential, commercial, and industrial sectors.

The cellular segment is expected to be the fastest-growing market, by communication type, during the forecast period

The communication type segment of the smart meters market is segmented into RF, PLC, and Cellular. Cellular expected to register the highest growth rate during the forecast period. The growth of the cellular communication type is attributed to the availability of robust telecommunication infrastructure for smart meter operations across regions such as Europe and North America. In addition, the use of cellular communication reduces the operational cost for utilities in implementing smart meter projects.

The residential segment is expected to be the fastest-growing market segment in the smart meters industry, by end-user, during the forecast period

The smart meters market is segmented, by end-user, into residential, commercial, and industrial. The residential sector is projected to grow at the fastest rate during the forecast period. The increasing power consumption drives the smart meter growth rate in the sector among residential consumers due to technological and economic advancements and the growing government support for mandatory smart meter rollout projects in the sector.

Smart Meters Market

Asia Pacific is expected to be the largest market during the forecast period

The market is segmented, by region, into North America, South America, Europe, Asia Pacific, and Middle East & Africa. Of these, Asia Pacific is the largest smart meters market in the world, predominantly due to China, and the trend is expected to be the same during the forecast period. The market in the region is driven by the growing emphasis to reduce carbon emissions from utility operations and effectively integrate DER such as solar and wind power for enhanced power sector operations.

Key Market Players

The major players in the global smart meters market are Schneider Electric (France), Landis+Gyr (Switzerland), Itron (US), Siemens (Germany), Wasion Group (China), Badger Meter (US), and Sensus (Xylem) (US).

Landis+Gyr (US) is a manufacturer of metering solutions for residential, commercial, and industrial end-users. It provides smart electric meters, smart gas meters, and smart water meters. The smart meters offered by the company broadly encompass hardware and software. Hardware products include smart electric meters, while software products help in integrating communication technologies and providing real-time data analysis. The company caters to various end-users such as residential, commercial, and industrial. The company has a presence in the Americas, Europe, Middle East, Africa, and Asia Pacific.

Another major player in the market is Itron (US). The company has a strong product portfolio for smart electric meters with RF and cellular communication for AMI technology operations. The products cater to end-user segments, including residential, commercial, and industrial.

Scope of the Report

Report Metric

Details

Market size available for years

2018–2025

Base year considered

2019

Forecast period

2020–2025

Forecast units

USD Million

Segments covered

By Type, By Communication type, By Component, By Technology, By End-User, and By Region

Geographies covered

North America, Europe, Asia Pacific, Middle East & Africa, and South America

Companies covered

Schneider Electric (France), Landis+Gyr (Switzerland), Itron (US), Siemens (Germany), Wasion Group (China), Badger Meter (US), and Sensus (Xylem) (US).

This research report categorizes the smart meters market by type, by communication type, by component type, by technology, by end-user, and region.

By Type

  • Electric
  • Gas
  • Water

By Communication Type

  • RF
  • PLC
  • Cellular

By Component Type

  • Hardware
  • Software

By Technology Type

  • AMI
  • AMR

By End-User

  • Residential
  • Commercial
  • Industrial

By Region

  • North America
  • South America
  • Europe
  • Asia Pacific
  • Middle East & Africa

Recent Developments

  • In January 2020, Landis+Gyr introduced Revelo electric meters with advanced grid sensing technology.
  • In January 2020, Itron launched a 4G LTE smart metering solution that provides broad territory coverage, low latency, and network longevity using 4G LTE technology.
  • In March 2019, Wasion Group won a contract with Guizhou Power Grid Corporation to deliver items such as communications and terminal products, smart meters, and smart power solutions.

Key Questions Addressed by the Report

  • What are the industry trends that would be seen over the next five years?
  • Which of the smart meters elements is likely to lead by 2025?
  • Which of the end-user segments is expected to have the maximum opportunity to grow during the forecast period?
  • Which would be the leading region with the highest smart meters market share by 2025?
  • How are companies implementing organic and inorganic strategies to gain increased market share?

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

TABLE OF CONTENTS

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET OVERVIEW
    4.1. INTRODUCTION
    4.2. MARKET SEGMENTATION
           4.2.1. BY TYPE
           4.2.2. BY COMMUNICATION TYPE
           4.2.3. BY COMPONENT
           4.2.4. BY TECHNOLOGY
           4.2.5. BY END-USER
           4.2.6. BY REGION
    4.3. MARKET DYNAMICS
           4.3.1. DRIVERS
           4.3.2. RESTRAINTS
           4.3.3. OPPORTUNITIES
           4.3.4. CHALLENGES

5 GLOBAL SMART METERS MARKET, BY TYPE (USD MILLION - 2018, 2019, 2020-E, 2025-P) 
    5.1. INTRODUCTION
    5.2. SMART ELECTRIC METERS
    5.3. SMART GAS METERS
    5.4. SMART WATER METERS

6 GLOBAL SMART METERS MARKET, BY COMMUNCIATION TYPE (USD MILLION - 2018, 2019, 2020-E, 2025-P)
    6.1. INTRODUCTION
    6.2. RF
    6.3. PLC
    6.4. CELLULAR

7 GLOBAL SMART METERS MARKET, BY COMPONENT (USD MILLION - 2018, 2019, 2020-E, 2025-P )
    7.1. INTRODUCTION
    7.2. HARDWARE
    7.3. SOFTWARE

8 GLOBAL SMART METERS MARKET, BY TECHNOLOGY (USD MILLION - 2018, 2019, 2020-E, 2025-P)
    8.1. INTRODUCTION
    8.2. AUTOMATED METER READING (AMR)
    8.3. ADVANCED METERING INFRASTRUCTURE (AMI)

9 GLOBAL SMA(USD MILLION - 2018, 2019, 2020-E, 2025-P) RT METERS MARKET, BY END-USER
    9.1. INTRODUCTION
    9.2. RESIDENTIAL
    9.3. COMMERCIAL
    9.4. INDUSTRIAL 

10 GLOBAL SMART METERS MARKET, BY REGION (USD MILLION - 2018, 2019, 2020-E, 2025-P)
*(Country level information for all the countries would be same as mentioned for North American Countries)
     10.1. NORTH AMERICA
               10.1.1. BY TYPE
               10.1.2. BY COMMUNICATION TYPE
               10.1.3. BY COMPONENT
               10.1.4. BY TECHNOLOGY
               10.1.5. BY END-USER
               10.1.6. BY COUNTRY
                           10.1.6.1. US*
                                          10.1.6.1.1. BY TYPE
                                          10.1.6.1.2. BY COMMUNICATION TYPE
                                          10.1.6.1.3. BY COMPONENT
                                          10.1.6.1.4. BY TECHNOLOGY
                                          10.1.6.1.5. BY END-USER
                            10.1.6.2. CANADA
                            10.1.6.3. MEXICO
     10.2. EUROPE
               10.2.1. BY TYPE
               10.2.2. BY COMMUNICATION TYPE
               10.2.3. BY COMPONENT
               10.2.4. BY TECHNOLOGY
               10.2.5. BY END-USER
               10.2.6. BY COUNTRY
                          10.2.6.1. UK
                          10.2.6.2. FRANCE
                          10.2.6.3. SPAIN
                          10.2.6.4. GERMANY
                          10.2.6.5. REST OF EUROPE
     10.3. ASIA PACIFIC
               10.3.1. BY TYPE
               10.3.2. BY COMMUNICATION TYPE
               10.3.3. BY COMPONENT
               10.3.4. BY TECHNOLOGY
               10.3.5. BY END-USER
               10.3.6. BY COUNTRY
                           10.3.6.1. CHINA
                           10.3.6.2. JAPAN
                           10.3.6.3. AUSTRALIA
                           10.3.6.4. INDIA
                           10.3.6.5. REST OF ASIA PACIFIC
     10.4. SOUTH AMERICA
               10.4.1. BY TYPE
               10.4.2. BY COMMUNICATION TYPE
               10.4.3. BY COMPONENT
               10.4.4. BY TECHNOLOGY
               10.4.5. BY END-USER
               10.4.6. BY COUNTRY
                           10.4.6.1. BRAZIL
                           10.4.6.2. ARGENTINA
                           10.4.6.3. REST OF SOUTH AMERICA
     10.5. MIDDLE EAST & AFRICA
               10.5.1. BY TYPE
               10.5.2. BY COMMUNICATION TYPE
               10.5.3. BY COMPONENT
               10.5.4. BY TECHNOLOGY
               10.5.5. BY END-USER
               10.5.6. BY COUNTRY
                           10.5.6.1. SAUDI ARABIA
                           10.5.6.2. UAE
                           10.5.6.3. SOUTH AFRICA
                           10.5.6.4. ISRAEL
                           10.5.6.5. REST OF MIDDLE EAST & AFRICA

11 COMPETITIVE LANDSCAPE
     11.1. OVERVIEW
     11.2. COMPETITIVE LEADERSHIP MAPPING
               11.2.1. TERMINOLOGY/NOMENCLATURE
            11.2.1.1. VISIONARY LEADERS
            11.2.1.2. DYNAMIC DIFFERENTIATORS
            11.2.1.3. EMERGING COMPANIES
            11.2.1.4. INNOVATORS
     11.3. COMPETITIVE SITUATION & TRENDS
               11.3.1. MARKET SHARE/RANKING OF TOP 5 COMPANIES
               11.3.2. CONTRACTS & AGREEMENTS
               11.3.3. EXPANSIONS
               11.3.4. MERGERS & ACQUISITIONS/JOINT VENTURES

12 COMPANY PROFILES
     12.1. INTRODUCTION
     12.2. SCHNEIDER ELECTRIC 
               12.2.1. Business Overview
                           12.2.1.1. Segments Overview
                           12.2.1.2. Geographic Reach
                           12.2.1.3. Product & Services
                           12.2.1.4. Recent Developments
     12.3. SIEMENS AG
     12.4. HONEYWELL
     12.5. ITRON
     12.6. SENSUS (XYLEM)
     12.7. BADGER METER
     12.8. KAMSTRUP A/S
     12.9. WAISON GROUP 
     12.10.  LANDIS+GYR

13 APPENDIX

Note:
 
1.THIS IS A TENTATIVE LIST OF COMPANIES. ADDITIONAL COMPANIES MAY BE ADDED DURING THE COURSE OF THE STUDY
2.DETAILS ON OVERVIEW, FINANCIALS, PRODUCTS & SERVICES, STRATEGY, AND DEVELOPMENTS MIGHT NOT BE CAPTURED IN CASE OF UNLISTED COMPANIES
3.e-Estimated, f-Forecasted

The study involved three major activities in estimating the current size of the global smart meters market. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and market sizing with industry experts across the value chain through rigorous primary research. Both top-down and bottom-up approaches were used to estimate the total market size. The market breakdown and data triangulation techniques were employed to estimate the market size of the segments and the corresponding subsegments.

Secondary Research

This research study involved the use of extensive secondary sources, directories, and databases such as smart meters end-user associations in Europe and North America regions, industry publications, several newspaper articles, Bloomberg, Factiva, and journals to identify and collect information useful for a technical, market-oriented, and commercial study of the smart meters market. The other secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, manufacturer associations, trade directories, and databases.

Primary Research

The smart meters market comprises several stakeholders such as companies related to the industry, consulting companies in the residential, commercial and industrial, smart meters manufacturers, state & national energy authorities, dealers & suppliers, and vendors. The demand side of the market is characterized by the smart meters planned rollout, and expenditure across end-use sectors across global regions, investments by governments, major players across end-use industries. The supply side is characterized by contracts & agreements, new product launches, mergers & acquisitions, and partnerships & collaborations among big players. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. The breakdown of primary respondents is given below:

Smart Meters Market

Market Size Estimation

Both top-down and bottom-up approaches have been used to estimate and validate the size of the smart meters market and its dependent submarkets. These methods were also extensively used to determine the extent of various subsegments in the market. The research methodology used to estimate the market size includes the following:

  • The key players in the industry and demand have been identified through extensive secondary research, and their market shares in the respective regions have been determined through both primary and secondary research.
  • The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into several segments and subsegments. To complete the entire market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the smart meter market activities.

Report Objectives

  • To define, describe, segment, and forecast the smart meters market based on type, communication type, component, technology, end-user, and region
  • To provide detailed information on the significant factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
  • To strategically analyze the smart meters market with respect to individual growth trends, future expansions, and contribution of each segment to the market
  • To analyze market opportunities for stakeholders and details of the competitive landscape for market leaders
  • To forecast the growth of the smart meters market with respect to the main regions North America, South America, Europe, Asia Pacific, and Middle East & Africa)
  • To strategically profile key players and comprehensively analyze their market ranking and core competencies*
  • To track and analyze competitive developments such as contracts & agreements, investments & expansions, new product developments, and mergers & acquisitions in the smart meters market

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 smart meters market report:

Regional Analysis

  • Further breakdown of region or country-specific analysis

Company Information

  • Detailed analysis and profiling of additional market players (up to 5)
Report Code
EP 3297
Published ON
Mar, 2020
Choose License Type
BUY NOW
  • SHARE
X
Request Customization
Speak to Analyst
Speak to Analyst
OR FACE-TO-FACE MEETING
PERSONALIZE THIS RESEARCH
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
REQUEST A FREE CUSTOMIZATION
LET US HELP YOU!
  • What are the Known and Unknown Adjacencies Impacting the Smart Meters Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
CUSTOMIZED WORKSHOP REQUEST
ADJACENT MARKETS
REQUEST BUNDLE REPORTS
+1-888-600-6441
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
© MarketsandMarkets Research Private Ltd. All rights reserved
...

Digital Virtual Assistant - MarketsandMarkets

Home