Smart Meter Market

Smart Meter Market by Type (Electric Gas, and Water), Component, Technology (AMI & AMR), Communication (RF, PLC, and Cellular), End-user (Residential, Commercial, Industrial) and Region - Global Forecast to 2028

Report Code: EP 3297 Feb, 2023, by marketsandmarkets.com

[318 Pages Report] The global Smart Meter market is expected to grow at a CAGR of 9.4% during the forecast period, from an estimated USD 23.1 billion in 2023 to USD 36.3 billion in 2028. Major factors that would further drive the adoption of smart meters include stringent government policies, increased awareness of the disadvantages of carbon footprint, contactless billing, improved grid reliability and efficient outage response, and the strong need for data analytics in the electric power industry.

Smart Meter Market

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Smart Meters Market Dynamics

Drivers: Rising adoption of smart meters to monitor utility systems in real time

The adoption of smart meters to monitor utility systems in real time is on the rise due to several benefits they provide. Smart meters are able to communicate with the utility company in real time, allowing for accurate and up-to-date energy usage data. This can help the utility company better manage its power grid and detect and respond to outages more quickly. Additionally, smart meters provide consumers with more detailed information about their energy usage, which can help them make more informed decisions about their energy consumption and potentially save money on their utility bills. Smart Meters also have inbuilt technology that helps in detecting power theft and tampering of the meters which is a major concern for utility companies. Overall, the use of smart meters in real-time monitoring of utility systems is helping to improve the efficiency, reliability and cost-effectiveness of the power grid, making it more sustainable for the future.

Restraints: Decline in infrastructure development investments and low return on investment

Smart meter installation requires a higher capital cost to install and operate than conventional meters. Utility providers across the world need capital to upgrade their infrastructure. Developing countries with poor infrastructure, such as China, Brazil, and India, also need huge financial support to build and update their infrastructure.

Besides, the integration of devices becomes more complicated when the number of customers increases, which further delays smart meter operations. Even in developed smart meter markets, such as Italy and Sweden, to make the integration of a new generation of smart meters profitable, utilities are deploying smart meters in different phases. The deployment of smart meters in these countries can be extended until 2030 due to a lack of consumer acceptance. Due to such a long delay in the realization of ROI, companies refrain from installing smart meters.

Opportunities: Integration of artificial intelligence (AI) and machine learning (ML) technologies into smart meters

Global smart meter manufacturers and utilities are looking to integrate artificial intelligence (AI) and machine learning (ML) software with smart meter operations. This integration will enable utilities to effectively monitor real-time analysis and use smart meter data for better business decisions. For instance, the artificial intelligence of smart meter operations can provide unprecedented, real-time visibility into the utility distribution system, including power flow and integration of distributed energy resources. In addition, smart meters with AI can provide utilities with supply and demand optimization with the enhanced prediction of periods of peak supply and demand.

Challenges: Maintenance, security, and integrity of smart meters and associated data and requirement for skilled professionals

The deployment and maintenance of smart meters can present a number of challenges, including cost, security, and the need for skilled professionals. One of the main challenges is the cost associated with deploying and maintaining smart meters. Smart meters are typically more expensive than traditional meters, and the cost of deploying them can be high, particularly for large-scale rollouts. Additionally, the cost of maintaining and upgrading the infrastructure to support smart meters can also be high. Another challenge is the security and integrity of smart meter data. Smart meters collect and transmit large amounts of sensitive data, including information about energy usage, which could be vulnerable to hacking and other cyber attacks. Ensuring the security of this data is crucial to protect consumers' privacy and prevent unauthorized access to the power grid. Finally, the requirement of skilled professionals is another challenge as the deployment and maintenance of smart meters require a higher level of technical expertise than traditional meters. Utility companies may need to invest in training and development programs to ensure they have the necessary skills to install and maintain smart meters, and to analyze and use the data they collect.

Market Trends

Smart Meter Market Size, and Share

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Smart meter segment, by type, is expected to be the fastest market during the forecast period

The smart meter segment is expected to be the fastest market during the forecast period. Smart water meters are a useful tool for tracking water usage and coordinating with the service provider to regulate water usage and manage the billing cycle. Multiple built-in sensors manage the measuring and recording components, and a module or component resembling those found in smart gas meters is used to carry out communication. The typical mechanical meters were also prone to wear and tear due to which there were consistent inaccuracies in the billing. Water management has been a global issue as every year several water utilities experience a huge amount of water loss. These water management initiatives are increasing the market for smart meters.

By communication, PLC segment is expected to be the second largest market for the global smart meter market during the forecast period

By communication, the smart meter market has been segmented into RF, PLC, and Cellular. PLC is a communication technology that uses electrical wiring to simultaneously transmit both data and electric power without any interference as both are at different frequencies. PLC has advantages such as compatibility with the existing utility infrastructure of poles & wires, improved cost-effectiveness for rural smart meter infrastructure, and usability in challenging terrain.

“Asia Pacific: The fastest smart meters market”

Asia Pacific is expected to be the fastest-growing region for the global smart meter market between 2021–2028, followed by Europe and North America. The smart meter market in the Asia Pacific region is expected to grow rapidly in the coming years due to increasing government initiatives to upgrade the power grid infrastructure and rising consumer demand for energy efficiency. Some of the major countries in the region, such as China, Japan, and South Korea, have already implemented or are planning to implement large-scale smart meter rollouts. Additionally, the increasing adoption of renewable energy sources and the need for more accurate and real-time energy data are also driving the market growth. However, the market growth may also be hindered by lack of standardization and cybersecurity concerns.

Smart Meter Market Size, and Share

Key Market Players

The smart meters market is dominated by a few major players that have a wide regional presence. The major players in the smart meters market are Landis+Gyr (Switzerland), Itron, Inc. (US), Osaki Electric Co., Ltd (EDMI) (Singapore), Sagemcom (France), and Siemens (Germany) Between 2018 and 2022, the companies adopted growth strategies such as sales contracts to capture a larger share of the smart meters market.

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Scope of the Report

Report Metric

Details

Market size available for years

2021–2028

Base year considered

2022

Forecast period

2024–2028

Forecast units

Value (USD)

Segments covered

Type, Technology, Component, Communication, End user, and Region

Geographies covered

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

Companies covered

Landis+Gyr (US), Aclara Technologies (US), Sensus (Xylem) (US), Itron, Inc. (US), Honeywell International Inc. (US), Iskraemeco Group (Slovenia), Sagemcom (France), BADGER METER, INC. (US), Kamstrup A/S (Denmark), Wasion Group (China), Schneider Electric (France), Siemens (Germany), Larsen & Toubro (India), Genus Power Infrastructure (India), Osaki Electric Co., Ltd. (EDMI) (Japan), Jiangsu Linyang Electronics (China), Hexing Electrical (China), Networked Energy Services Corporation(US), Pietro Fiorentini (Italy), Secure Meters (India)

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

Based on type, the Smart meter market has been segmented as follows:
  • Smart Electric Meter
  • Smart Gas Meter
  • Smart Water Meter
Based on technology, the smart meter market has been segmented as follows:
  • AMI
  • AMR
Based on Component, the smart meter market has been segmented as follows:
  • Hardware
  • Software
Based on end user, the smart meter market has been segmented as follows:
  • Residential
  • Commercial
  • Industrial
Based on communication, the smart meter market has been segmented as follows:
  • RF
  • PLC
  • Cellular
Based on region, the smart meter market has been segmented as follows:
  • Asia Pacific
  • Europe
  • North America
  • Middle East & Africa
  • South America

Recent Developments

  • In November 2022, Landis+Gyr has expanded its portfolio in Smart Metering, Grid Edge Intelligence and Smart Infrastructure fields and will be exhibiting the latest hardware and software solutions for electricity, heat, gas, and water metering.
  • In September 2022, EDMI has launched its brand MIRA which are communications agnostic, enabling end-to-end visibility and control based on industry standard protocols such as DLMS, IDIS, and LWM2M over a wide range of bearer services including 4G, NB-IoT, RF Mesh.
  • In November 2022, Itron, Inc. has partnered with various technology innovators, consultants, service providers, and channel partners to deliver outcomes for utilities and cities in their mission to connect to customers to accelerate the modernization of energy, water, and smart solutions offered in global markets
  • In October 2021, Siemens Smart Infrastructure and its partners, Sagemcom and Bite Lietuva, participated in the rollout of 1.2 million smart meters across Lithuania.

Frequently Asked Questions (FAQ):

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TABLE OF CONTENTS
 
1 INTRODUCTION (Page No. - 37)
    1.1 STUDY OBJECTIVES 
    1.2 MARKET DEFINITION 
    1.3 INCLUSIONS AND EXCLUSIONS 
           1.3.1 SMART METER MARKET, BY TYPE: INCLUSIONS AND EXCLUSIONS
           1.3.2 SMART METER MARKET, BY COMPONENT: INCLUSIONS AND EXCLUSIONS
           1.3.3 SMART METER MARKET, BY COMMUNICATION: INCLUSIONS AND EXCLUSIONS
           1.3.4 SMART METER MARKET, BY TECHNOLOGY: INCLUSIONS AND EXCLUSIONS
           1.3.5 SMART METER MARKET, BY END USER: INCLUSIONS AND EXCLUSIONS
    1.4 MARKET SCOPE 
           1.4.1 MARKETS COVERED
           1.4.2 REGIONAL SCOPE
           1.4.3 YEARS CONSIDERED
    1.5 CURRENCY CONSIDERED 
    1.6 LIMITATIONS 
    1.7 STAKEHOLDERS 
    1.8 SUMMARY OF CHANGES 
 
2 RESEARCH METHODOLOGY (Page No. - 43)
    2.1 RESEARCH DATA 
           FIGURE 1 SMART METER MARKET: RESEARCH DESIGN
    2.2 MARKET BREAKDOWN AND DATA TRIANGULATION 
           FIGURE 2 DATA TRIANGULATION
           2.2.1 SECONDARY DATA
                    2.2.1.1 Key data from secondary sources
           2.2.2 PRIMARY DATA
                    2.2.2.1 Key insights from primary sources
                    2.2.2.2 Breakdown of primaries
    2.3 SCOPE 
           FIGURE 3 MAIN METRICS CONSIDERED TO ANALYZE AND ASSESS DEMAND FOR SMART METERS
    2.4 MARKET SIZE ESTIMATION 
           2.4.1 BOTTOM-UP APPROACH
                    FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
           2.4.2 TOP-DOWN APPROACH
                    FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
           2.4.3 DEMAND-SIDE ANALYSIS
                    2.4.3.1 Regional analysis
                    2.4.3.2 Country-level analysis
                    2.4.3.3 Assumptions for demand-side analysis
                    2.4.3.4 Calculations for demand-side analysis
           2.4.4 SUPPLY-SIDE ANALYSIS
                    FIGURE 6 KEY STEPS CONSIDERED TO ASSESS SUPPLY OF SMART METERS
                    FIGURE 7 SMART METER MARKET: SUPPLY-SIDE ANALYSIS
                    2.4.4.1 Calculations for supply-side analysis
                    2.4.4.2 Assumptions for supply-side analysis
                               FIGURE 8 COMPANY REVENUE ANALYSIS, 2021
    2.5 FORECAST 
    2.6 RISK ASSESSMENT 
    2.7 RECESSION IMPACT 
 
3 EXECUTIVE SUMMARY (Page No. - 57)
    TABLE 1 SNAPSHOT OF SMART METER MARKET 
    FIGURE 9 AMI SEGMENT TO HOLD LARGER SHARE OF SMART METER MARKET DURING FORECAST PERIOD 
    FIGURE 10 SMART ELECTRIC METER SEGMENT TO LEAD SMART METER MARKET DURING FORECAST PERIOD 
    FIGURE 11 CELLULAR SEGMENT TO LEAD SMART METER MARKET DURING FORECAST PERIOD 
    FIGURE 12 HARDWARE SEGMENT TO HOLD LARGER SHARE OF SMART METER MARKET DURING FORECAST PERIOD 
    FIGURE 13 RESIDENTIAL SEGMENT TO LEAD SMART METER MARKET DURING FORECAST PERIOD 
    FIGURE 14 ASIA PACIFIC ACCOUNTED FOR LARGEST SHARE OF SMART METER MARKET IN 2022 
 
4 PREMIUM INSIGHTS (Page No. - 63)
    4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN SMART METER MARKET 
           FIGURE 15 GROWING NEED TO IMPROVE RELIABILITY OF GRID INFRASTRUCTURES AND REDUCE WATER LOSSES
    4.2 ASIA PACIFIC SMART METER MARKET, BY END USER AND COUNTRY 
           FIGURE 16 RESIDENTIAL SEGMENT AND CHINA HELD LARGEST SHARES OF ASIA PACIFIC SMART METER MARKET IN 2022
    4.3 SMART METER MARKET, BY TYPE 
           FIGURE 17 SMART ELECTRIC METER SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE IN 2028
    4.4 SMART METER MARKET, BY END USER 
           FIGURE 18 RESIDENTIAL SEGMENT TO HOLD LARGEST MARKET SHARE IN 2028
    4.5 SMART METER MARKET, BY TECHNOLOGY 
           FIGURE 19 AMI SEGMENT TO LEAD SMART METER MARKET IN 2028
    4.6 SMART METER MARKET, BY COMPONENT 
           FIGURE 20 HARDWARE SEGMENT TO HOLD LARGER SHARE OF SMART METER MARKET IN 2028
    4.7 SMART METER MARKET, BY COMMUNICATION 
           FIGURE 21 CELLULAR SEGMENT TO DOMINATE SMART METER MARKET IN 2028
 
5 MARKET OVERVIEW (Page No. - 67)
    5.1 INTRODUCTION 
    5.2 MARKET DYNAMICS 
           FIGURE 22 SMART METER MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
           5.2.1 DRIVERS
                    5.2.1.1 Supportive government regulations pertaining to digitalization of grids
                               FIGURE 23 INVESTMENT SHARE PERCENTAGE OF DIGITAL GRID INFRASTRUCTURE IN GLOBAL ELECTRICITY INVESTMENT, 2014–2019
                    5.2.1.2 Rising adoption of smart meters to monitor utility systems in real time
                    5.2.1.3 Dynamic pricing of utilities
                    5.2.1.4 Reduced blackouts and failures of utility systems
                    5.2.1.5 Increased need to monitor energy consumption to achieve carbon neutrality
           5.2.2 RESTRAINTS
                    5.2.2.1 High setup and operational costs and limited availability of low-cost digital upgrades
                    5.2.2.2 Decline in infrastructure development investments and low return on investment
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Focus of governments worldwide on reducing aggregate technical and commercial losses
                               FIGURE 24 GLOBAL INVESTMENTS IN SMART GRID INFRASTRUCTURE, 2014–2019
                    5.2.3.2 Integration of artificial intelligence (AI) and machine learning (ML) technologies into smart meters
                    5.2.3.3 Rising adoption of electric and hybrid vehicles
                               FIGURE 25 GLOBAL ELECTRIC VEHICLE (EV) STOCKS, 2016–2020 (MILLION UNITS)
                    5.2.3.4 Increasing focus of developing countries on improving water distribution networks
                               TABLE 2 WATER AND WASTEWATER TREATMENT PROJECTS IN INDIA
           5.2.4 CHALLENGES
                    5.2.4.1 Maintenance, security, and integrity of smart meters and associated data and requirement for skilled professionals
                    5.2.4.2 Dependency on reliable connections between smart meters and smart grid devices to collect highly accurate data
    5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES 
           5.3.1 REVENUE SHIFT AND NEW REVENUE POCKETS FOR SMART METER PROVIDERS
                    FIGURE 26 REVENUE SHIFT FOR SMART METER PROVIDERS
    5.4 MARKET MAP 
           TABLE 3 SMART METER MARKET: ECOSYSTEM ANALYSIS
           FIGURE 27 MARKET MAP/ECOSYSTEM ANALYSIS
    5.5 VALUE/SUPPLY CHAIN ANALYSIS 
           FIGURE 28 SMART METER MARKET: VALUE CHAIN ANALYSIS
           5.5.1 RAW MATERIAL/COMPONENT PROVIDERS
           5.5.2 SMART METER MANUFACTURERS
           5.5.3 DISTRIBUTORS AND AFTER-SALES SERVICE PROVIDERS
           5.5.4 END USERS
    5.6 AVERAGE SELLING PRICE (ASP) ANALYSIS 
           FIGURE 29 AVERAGE SELLING PRICE OF PRODUCTS OFFERED KEY PLAYERS, BY TYPE
           TABLE 4 AVERAGE SELLING PRICE OF PRODUCTS OFFERED BY KEY PLAYERS, BY TYPE (USD)
    5.7 TECHNOLOGY ANALYSIS 
           5.7.1 SMART METER MARKET BASED ON DIFFERENT TECHNOLOGIES
    5.8 TARIFFS, CODES, AND REGULATIONS 
           5.8.1 TARIFFS RELATED TO SMART METER MARKET
           5.8.2 CODES AND REGULATIONS RELATED TO SMART METER MARKET
                    TABLE 5 SMART METER MARKET: CODES AND REGULATIONS
           5.8.3 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 6 GLOBAL: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 7 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 8 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 9 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 10 ROW: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
    5.9 PATENT ANALYSIS 
           TABLE 11 SMART METER MARKET: INNOVATION AND PATENT REGISTRATION
    5.10 TRADE ANALYSIS 
           5.10.1 EXPORT SCENARIO
                    TABLE 12 EXPORT SCENARIO FOR HS CODE: 9028, BY COUNTRY, 2019–2021 (USD THOUSAND)
           5.10.2 IMPORT SCENARIO
                    TABLE 13 IMPORT SCENARIO FOR HS CODE: 9028, BY COUNTRY, 2019–2021 (USD THOUSAND)
    5.11 KEY CONFERENCES AND EVENTS, 2022–2023 
                    TABLE 14 SMART METER MARKET: LIST OF CONFERENCES AND EVENTS
    5.12 CASE STUDY ANALYSIS 
           5.12.1 SMART WATER SYSTEM HELPED CITY OF MONROE TO IDENTIFY INDIVIDUAL LEAKING HOUSES AFTER WINTER STORMS
           5.12.2 SMART METERING HELPED TURN BUDGET DEFICIT UTILITY COMPANY INTO BUDGET PLUS COMPANY
           5.12.3 KAMSTRUP HELPED RURAL MUNICIPALITY IN ONEIDA, TENNESSEE, REVERSE WATER LOSS
    5.13 PORTER’S FIVE FORCES ANALYSIS 
                    TABLE 15 SMART METER MARKET: PORTER’S FIVE FORCES ANALYSIS
                    FIGURE 30 SMART METER MARKET: PORTER’S FIVE FORCES ANALYSIS
           5.13.1 THREAT OF SUBSTITUTES
           5.13.2 BARGAINING POWER OF SUPPLIERS
           5.13.3 BARGAINING POWER OF BUYERS
           5.13.4 THREAT OF NEW ENTRANTS
           5.13.5 INTENSITY OF COMPETITIVE RIVALRY
    5.14 KEY STAKEHOLDERS AND BUYING CRITERIA 
           5.14.1 KEY STAKEHOLDERS IN BUYING PROCESS
                    FIGURE 31 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY END USER
                    TABLE 16 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY END USER (%)
           5.14.2 BUYING CRITERIA
                    FIGURE 32 KEY BUYING CRITERIA FOR END USERS
                    TABLE 17 KEY BUYING CRITERIA, BY END USER
 
6 SMART METER MARKET, BY TYPE (Page No. - 97)
    6.1 INTRODUCTION 
           FIGURE 33 SMART METER MARKET SHARE, BY TYPE, 2022 (%)
           TABLE 18 SMART METER MARKET, BY TYPE, 2021–2028 (USD MILLION)
    6.2 SMART ELECTRIC METER 
           6.2.1 RISING NEED TO IMPROVE RELIABILITY OF POWER INFRASTRUCTURE
                    TABLE 19 SMART ELECTRIC METER: SMART METER MARKET, BY REGION, 2021–2028 (USD MILLION)
    6.3 SMART GAS METER 
           6.3.1 GROWING NEED TO REDUCE GAS CONSUMPTION
                    TABLE 20 SMART GAS METER: SMART METER MARKET, BY REGION, 2021–2028 (USD MILLION)
    6.4 SMART WATER METER 
           6.4.1 INCREASING NEED TO REDUCE NON-REVENUE WATER LOSSES
                    TABLE 21 SMART WATER METER: SMART METER MARKET, BY REGION, 2021–2028 (USD MILLION)
 
7 SMART METER MARKET, BY COMPONENT (Page No. - 101)
    7.1 INTRODUCTION 
           FIGURE 34 SMART METER MARKET, BY COMPONENT, 2022
           TABLE 22 SMART METER MARKET, BY END USER, 2021–2028 (USD MILLION)
    7.2 HARDWARE 
           TABLE 23 HARDWARE: SMART METER MARKET, BY REGION, 2021–2028 (USD MILLION)
           TABLE 24 HARDWARE: SMART METER MARKET, BY TYPE, 2021–2028 (USD MILLION)
           7.2.1 POWER SYSTEM
                    7.2.1.1 Power systems ensure that metering electronics remain operational even when mainline is turned off
           7.2.2 MICROCONTROLLER
                    7.2.2.1 Integration of AI or IoT with microcontrollers makes them consumer-friendly
           7.2.3 COMMUNICATION INTERFACE
                    7.2.3.1 Communication interface communicates data from utilities to consumers
    7.3 SOFTWARE 
           TABLE 25 SOFTWARE: SMART METER MARKET, BY REGION, 2021–2028 (USD MILLION)
           TABLE 26 SOFTWARE: SMART METER MARKET, BY TYPE, 2021–2028 (USD MILLION)
           7.3.1 CUSTOMER INFORMATION SYSTEM (CIS)
                    7.3.1.1 Improves communication between consumers and service providers
           7.3.2 METER DATA MANAGEMENT SYSTEM (MDMS)
                    7.3.2.1 Enables large data management with multiple users
           7.3.3 METERING AND BILLING SOFTWARE
                    7.3.3.1 Increases billing transparency
 
8 SMART METER MARKET, BY TECHNOLOGY (Page No. - 106)
    8.1 INTRODUCTION 
           FIGURE 35 AMI SEGMENT ACCOUNTED FOR LARGER MARKET SHARE IN 2022
           TABLE 27 SMART METER MARKET, BY TECHNOLOGY, 2021–2028 (USD MILLION)
    8.2 AUTOMATIC METER READING (AMR) 
           8.2.1 AUTOMATIC METER READING (AMR) HELPS REDUCE MANUAL INTERVENTION FOR DATA COLLECTION
                    TABLE 28 AMR: SMART METER MARKET, BY REGION, 2021–2028 (USD MILLION)
    8.3 ADVANCED METERING INFRASTRUCTURE (AMI) 
           8.3.1 ADVANCED METERING INFRASTRUCTURE (AMI) INCREASES RELIABILITY OF SMART METER INFRASTRUCTURE
                    TABLE 29 AMI: SMART METER MARKET, BY REGION, 2021–2028 (USD MILLION)
 
9 SMART METER MARKET, BY COMMUNICATION (Page No. - 109)
    9.1 INTRODUCTION 
           FIGURE 36 SMART METER MARKET, BY COMMUNICATION, 2022
           TABLE 30 SMART METER MARKET, BY COMMUNICATION, 2021–2028 (USD MILLION)
    9.2 RADIOFREQUENCY (RF) 
           9.2.1 LOW MAINTENANCE COST
                    TABLE 31 RF: SMART METER MARKET, BY REGION, 2021–2028 (USD MILLION)
    9.3 POWER LINE COMMUNICATION (PLC) 
           9.3.1 EXCELLENT COMMUNICATION IN HARD-TO-REACH REGIONS
                    TABLE 32 PLC: SMART METER MARKET, BY REGION, 2021–2028 (USD MILLION)
    9.4 CELLULAR 
           9.4.1 COST-EFFECTIVENESS AND FAST DATA TRANSMISSION RATE
                    TABLE 33 CELLULAR: SMART METER MARKET, BY REGION, 2021–2028 (USD MILLION)
 
10 SMART METER MARKET, BY END USER (Page No. - 114)
     10.1 INTRODUCTION 
               FIGURE 37 SMART METER MARKET, BY END USER, 2022
               TABLE 34 SMART METER MARKET, BY END USER, 2021–2028 (USD MILLION)
     10.2 RESIDENTIAL 
             10.2.1 IMPROVED BILLING ACCURACY AND BENEFITS IN REAL-TIME MONITORING
                       TABLE 35 RESIDENTIAL: SMART METER MARKET, BY REGION, 2021–2028 (USD MILLION)
     10.3 COMMERCIAL 
             10.3.1 IMPROVED ENERGY EFFICIENCY AND REMOTE MANAGEMENT OF ENERGY CONSUMPTION
                       TABLE 36 COMMERCIAL: SMART METER MARKET, BY REGION, 2021–2028 (USD MILLION)
     10.4 INDUSTRIAL 
             10.4.1 RISING NEED TO IMPROVE ENERGY EFFICIENCY AND COMPLY WITH STANDARDS AND REGULATIONS
                       TABLE 37 INDUSTRIAL: SMART METER MARKET, BY REGION, 2021–2028 (USD MILLION)
 
11 SMART METER MARKET, BY REGION (Page No. - 118)
     11.1 INTRODUCTION 
               FIGURE 38 ASIA PACIFIC SMART METER MARKET TO REGISTER HIGHEST CAGR FROM 2023 TO 2028
               FIGURE 39 SMART METER MARKET, BY REGION, 2022 (%)
               TABLE 38 SMART METER MARKET, BY REGION, 2021–2028 (USD MILLION)
               TABLE 39 SMART METER MARKET, BY REGION, 2021–2028 (MILLION UNITS)
     11.2 ASIA PACIFIC 
               FIGURE 40 ASIA PACIFIC: SNAPSHOT OF SMART METER MARKET
             11.2.1 RECESSION IMPACT: ASIA PACIFIC
             11.2.2 BY TYPE
                       TABLE 40 ASIA PACIFIC: SMART METER MARKET, BY TYPE, 2021–2028 (USD MILLION)
             11.2.3 BY COMMUNICATION
                       TABLE 41 ASIA PACIFIC: SMART METER MARKET, BY COMMUNICATION, 2021–2028 (USD MILLION)
             11.2.4 BY COMPONENT
                       TABLE 42 ASIA PACIFIC: SMART METER MARKET, BY COMPONENT, 2021–2028 (USD MILLION)
                       TABLE 43 ASIA PACIFIC: SMART METER MARKET FOR SOFTWARE, BY TYPE, 2021–2028 (USD MILLION)
                       TABLE 44 ASIA PACIFIC: SMART METER MARKET FOR HARDWARE, BY TYPE, 2021–2028 (USD MILLION)
             11.2.5 BY TECHNOLOGY
                       TABLE 45 ASIA PACIFIC: SMART METER MARKET, BY TECHNOLOGY, 2021–2028 (USD MILLION)
             11.2.6 BY END USER
                       TABLE 46 ASIA PACIFIC: SMART METER MARKET, BY END USER, 2021–2028 (USD MILLION)
             11.2.7 BY COUNTRY
                       TABLE 47 ASIA PACIFIC: SMART METER MARKET, BY COUNTRY, 2021–2028 (USD MILLION)
                       11.2.7.1 China
                                   11.2.7.1.1 Energy transition and shift toward smart electrification
                                   TABLE 48 CHINA: SMART METER MARKET, BY TYPE, 2021–2028 (USD MILLION)
                                   TABLE 49 CHINA: SMART METER MARKET, BY COMMUNICATION, 2021–2028 (USD MILLION)
                                   TABLE 50 CHINA: SMART METER MARKET, BY COMPONENT, 2021–2028 (USD MILLION)
                                   TABLE 51 CHINA: SMART METER MARKET, BY TECHNOLOGY, 2021–2028 (USD MILLION)
                                   TABLE 52 CHINA: SMART METER MARKET, BY END USER, 2021–2028 (USD MILLION)
                       11.2.7.2 Australia
                                   11.2.7.2.1 Government-led targets on net zero and renewable energy installations
                                   TABLE 53 AUSTRALIA: SMART METER MARKET, BY TYPE, 2021–2028 (USD MILLION)
                                   TABLE 54 AUSTRALIA: SMART METER MARKET, BY COMMUNICATION, 2021–2028 (USD MILLION)
                                   TABLE 55 AUSTRALIA: SMART METER MARKET, BY COMPONENT, 2021–2028 (USD MILLION)
                                   TABLE 56 AUSTRALIA: SMART METER MARKET, BY TECHNOLOGY, 2021–2028 (USD MILLION)
                                   TABLE 57 AUSTRALIA: SMART METER MARKET, BY END USER, 2021–2028 (USD MILLION)
                       11.2.7.3 Japan
                                   11.2.7.3.1 Rising focus on improving power quality in electricity infrastructure
                                   TABLE 58 JAPAN: SMART METER MARKET, BY TYPE, 2021–2028 (USD MILLION)
                                   TABLE 59 JAPAN: SMART METER MARKET, BY COMMUNICATION, 2021–2028 (USD MILLION)
                                   TABLE 60 JAPAN: SMART METER MARKET, BY COMPONENT, 2021–2028 (USD MILLION)
                                   TABLE 61 JAPAN: SMART METER MARKET, BY TECHNOLOGY, 2021–2028 (USD MILLION)
                                   TABLE 62 JAPAN: SMART METER MARKET, BY END USER, 2021–2028 (USD MILLION)
                       11.2.7.4 India
                                   11.2.7.4.1 Supportive government policies
                                   TABLE 63 INDIA: SMART METER MARKET, BY TYPE, 2021–2028 (USD MILLION)
                                   TABLE 64 INDIA: SMART METER MARKET, BY COMMUNICATION, 2021–2028 (USD MILLION)
                                   TABLE 65 INDIA: SMART METER MARKET, BY COMPONENT, 2021–2028 (USD MILLION)
                                   TABLE 66 INDIA: SMART METER MARKET, BY TECHNOLOGY, 2021–2028 (USD MILLION)
                                   TABLE 67 INDIA: SMART METER MARKET, BY END USER, 2021–2028 (USD MILLION)
                       11.2.7.5 South Korea
                                   11.2.7.5.1 Rising focus on increasing share of renewable energy supply in power generation
                                   TABLE 68 SOUTH KOREA: SMART METER MARKET, BY TYPE, 2021–2028 (USD MILLION)
                                   TABLE 69 SOUTH KOREA: SMART METER MARKET, BY COMMUNICATION, 2021–2028 (USD MILLION)
                                   TABLE 70 SOUTH KOREA: SMART METER MARKET, BY COMPONENT, 2021–2028 (USD MILLION)
                                   TABLE 71 SOUTH KOREA: SMART METER MARKET, BY TECHNOLOGY, 2021–2028 (USD MILLION)
                                   TABLE 72 SOUTH KOREA: SMART METER MARKET, BY END USER, 2021–2028 (USD MILLION)
                       11.2.7.6 Rest of Asia Pacific
                                   TABLE 73 REST OF ASIA PACIFIC: SMART METER MARKET, BY TYPE, 2021–2028 (USD MILLION)
                                   TABLE 74 REST OF ASIA PACIFIC: SMART METER MARKET, BY COMMUNICATION, 2021–2028 (USD MILLION)
                                   TABLE 75 REST OF ASIA PACIFIC: SMART METER MARKET, BY COMPONENT, 2021–2028 (USD MILLION)
                                   TABLE 76 REST OF ASIA PACIFIC: SMART METER MARKET, BY TECHNOLOGY, 2021–2028 (USD MILLION)
                                   TABLE 77 REST OF ASIA PACIFIC: SMART METER MARKET, BY END USER, 2021–2028 (USD MILLION)
     11.3 EUROPE 
               FIGURE 41 EUROPE: SNAPSHOT OF SMART METER MARKET
             11.3.1 RECESSION IMPACT: EUROPE
             11.3.2 BY TYPE
                       TABLE 78 EUROPE: SMART METER MARKET, BY TYPE, 2021–2028 (USD MILLION)
             11.3.3 BY COMMUNICATION
                       TABLE 79 EUROPE: SMART METER MARKET, BY COMMUNICATION, 2021–2028 (USD MILLION)
             11.3.4 BY COMPONENT
                       TABLE 80 EUROPE: SMART METER MARKET, BY COMPONENT, 2021–2028 (USD MILLION)
                       TABLE 81 EUROPE: SMART METER MARKET FOR SOFTWARE, BY TYPE, 2021–2028 (USD MILLION)
                       TABLE 82 EUROPE: SMART METER MARKET FOR HARDWARE, BY TYPE, 2021–2028 (USD MILLION)
             11.3.5 BY TECHNOLOGY
                       TABLE 83 EUROPE: SMART METER MARKET, BY TECHNOLOGY, 2021–2028 (USD MILLION)
             11.3.6 BY END USER
                       TABLE 84 EUROPE: SMART METER MARKET, BY END USER, 2021–2028 (USD MILLION)
             11.3.7 BY COUNTRY
                       TABLE 85 EUROPE: SMART METER MARKET, BY COUNTRY, 2021–2028 (USD MILLION)
                       11.3.7.1 UK
                                   11.3.7.1.1 Supportive government policies related to smart meter market
                                   TABLE 86 UK: SMART METER MARKET, BY TYPE, 2021–2028 (USD MILLION)
                                   TABLE 87 UK: SMART METER MARKET, BY COMMUNICATION, 2021–2028 (USD MILLION)
                                   TABLE 88 UK: SMART METER MARKET, BY COMPONENT, 2021–2028 (USD MILLION)
                                   TABLE 89 UK: SMART METER MARKET, BY TECHNOLOGY, 2021–2028 (USD MILLION)
                                   TABLE 90 UK: SMART METER MARKET, BY END USER, 2021–2028 (USD MILLION)
                       11.3.7.2 Germany
                                   11.3.7.2.1 Rising requirement for smart meters to improve reliability of power infrastructures
                                   TABLE 91 GERMANY: SMART METER MARKET, BY TYPE, 2021–2028 (USD MILLION)
                                   TABLE 92 GERMANY: SMART METER MARKET, BY COMMUNICATION, 2021–2028 (USD MILLION)
                                   TABLE 93 GERMANY: SMART METER MARKET, BY COMPONENT, 2021–2028 (USD MILLION)
                                   TABLE 94 GERMANY: SMART METER MARKET, BY TECHNOLOGY, 2021–2028 (USD MILLION)
                                   TABLE 95 GERMANY: SMART METER MARKET, BY END USER, 2021–2028 (USD MILLION)
                       11.3.7.3 France
                                   11.3.7.3.1 Supportive government regulations to build efficient power infrastructure
                                   TABLE 96 FRANCE: SMART METER MARKET, BY TYPE, 2021–2028 (USD MILLION)
                                   TABLE 97 FRANCE: SMART METER MARKET, BY COMMUNICATION, 2021–2028 (USD MILLION)
                                   TABLE 98 FRANCE: SMART METER MARKET, BY COMPONENT, 2021–2028 (USD MILLION)
                                   TABLE 99 FRANCE: SMART METER MARKET, BY TECHNOLOGY, 2021–2028 (USD MILLION)
                                   TABLE 100 FRANCE: SMART METER MARKET, BY END USER, 2021–2028 (USD MILLION)
                       11.3.7.4 Italy
                                   11.3.7.4.1 Rollout of next-generation smart meters
                                   TABLE 101 ITALY: SMART METER MARKET, BY TYPE, 2021–2028 (USD MILLION)
                                   TABLE 102 ITALY: SMART METER MARKET, BY COMMUNICATION, 2021–2028 (USD MILLION)
                                   TABLE 103 ITALY: SMART METER MARKET, BY COMPONENT, 2021–2028 (USD MILLION)
                                   TABLE 104 ITALY: SMART METER MARKET, BY TECHNOLOGY, 2021–2028 (USD MILLION)
                                   TABLE 105 ITALY: SMART METER MARKET, BY END USER, 2021–2028 (USD MILLION)
                       11.3.7.5 Spain
                                   11.3.7.5.1 Need for reliable grid operations and reducing NRW losses
                                   TABLE 106 SPAIN: SMART METER MARKET, BY TYPE, 2021–2028 (USD MILLION)
                                   TABLE 107 SPAIN: SMART METER MARKET, BY COMMUNICATION, 2021–2028 (USD MILLION)
                                   TABLE 108 SPAIN: SMART METER MARKET, BY COMPONENT, 2021–2028 (USD MILLION)
                                   TABLE 109 SPAIN: SMART METER MARKET, BY TECHNOLOGY, 2021–2028 (USD MILLION)
                                   TABLE 110 SPAIN: SMART METER MARKET, BY END USER, 2021–2028 (USD MILLION)
                       11.3.7.6 Poland
                                   11.3.7.6.1 Supportive government laws for smart grid development
                                   TABLE 111 POLAND: SMART METER MARKET, BY TYPE, 2021–2028 (USD MILLION)
                                   TABLE 112 POLAND: SMART METER MARKET, BY COMMUNICATION, 2021–2028 (USD MILLION)
                                   TABLE 113 POLAND: SMART METER MARKET, BY COMPONENT, 2021–2028 (USD MILLION)
                                   TABLE 114 POLAND: SMART METER MARKET, BY TECHNOLOGY, 2021–2028 (USD MILLION)
                                   TABLE 115 POLAND: SMART METER MARKET, BY END USER, 2021–2028 (USD MILLION)
                       11.3.7.7 Rest of Europe
                                   TABLE 116 REST OF EUROPE: SMART METER MARKET, BY TYPE, 2021–2028 (USD MILLION)
                                   TABLE 117 REST OF EUROPE: SMART METER MARKET, BY COMMUNICATION, 2021–2028 (USD MILLION)
                                   TABLE 118 REST OF EUROPE: SMART METER MARKET, BY COMPONENT, 2021–2028 (USD MILLION)
                                   TABLE 119 REST OF EUROPE: SMART METER MARKET, BY TECHNOLOGY, 2021–2028 (USD MILLION)
                                   TABLE 120 REST OF EUROPE: SMART METER MARKET, BY END USER, 2021–2028 (USD MILLION)
     11.4 NORTH AMERICA 
             11.4.1 RECESSION IMPACT: NORTH AMERICA
                       FIGURE 42 NORTH AMERICA: SNAPSHOT OF SMART METER MARKET
             11.4.2 BY TYPE
                       TABLE 121 NORTH AMERICA: SMART METER MARKET, BY TYPE, 2021–2028 (USD MILLION)
             11.4.3 BY COMMUNICATION
                       TABLE 122 NORTH AMERICA: SMART METER MARKET, BY COMMUNICATION, 2021–2028 (USD MILLION)
             11.4.4 BY COMPONENT
                       TABLE 123 NORTH AMERICA: SMART METER MARKET, BY COMPONENT, 2021–2028 (USD MILLION)
                       TABLE 124 NORTH AMERICA: SMART METER MARKET FOR SOFTWARE, BY TYPE, 2021–2028 (USD MILLION)
                       TABLE 125 NORTH AMERICA: SMART METER MARKET FOR HARDWARE, BY TYPE, 2021–2028 (USD MILLION)
             11.4.5 BY TECHNOLOGY
                       TABLE 126 NORTH AMERICA: SMART METER MARKET, BY TECHNOLOGY, 2021–2028 (USD MILLION)
             11.4.6 BY END USER
                       TABLE 127 NORTH AMERICA: SMART METER MARKET, BY END USER, 2021–2028 (USD MILLION)
             11.4.7 BY COUNTRY
                       TABLE 128 NORTH AMERICA: SMART METER MARKET, BY COUNTRY, 2021–2028 (USD MILLION)
                       11.4.7.1 US
                                   11.4.7.1.1 Implementation of climate change policies and rising investments in smart grid infrastructures
                                   TABLE 129 US: SMART METER MARKET, BY TYPE, 2021–2028 (USD MILLION)
                                   TABLE 130 US: SMART METER MARKET, BY COMMUNICATION, 2021–2028 (USD MILLION)
                                   TABLE 131 US: SMART METER MARKET, BY COMPONENT, 2021–2028 (USD MILLION)
                                   TABLE 132 US: SMART METER MARKET, BY TECHNOLOGY, 2021–2028 (USD MILLION)
                                   TABLE 133 US: SMART METER MARKET, BY END USER, 2021–2028 (USD MILLION)
                       11.4.7.2 Canada
                                   11.4.7.2.1 Increasing domestic power consumption and upgrade of electric grid infrastructure to incorporate renewable energy
                                   TABLE 134 CANADA: SMART METER MARKET, BY TYPE, 2021–2028 (USD MILLION)
                                   TABLE 135 CANADA: SMART METER MARKET, BY COMMUNICATION, 2021–2028 (USD MILLION)
                                   TABLE 136 CANADA: SMART METER MARKET, BY COMPONENT, 2021–2028 (USD MILLION)
                                   TABLE 137 CANADA: SMART METER MARKET, BY TECHNOLOGY, 2021–2028 (USD MILLION)
                                   TABLE 138 CANADA: SMART METER MARKET, BY END USER, 2021–2028 (USD MILLION)
                       11.4.7.3 Mexico
                                   11.4.7.3.1 Massive smart meter rollout plans and government-led support
                                   TABLE 139 MEXICO: SMART METER MARKET, BY TYPE, 2021–2028 (USD MILLION)
                                   TABLE 140 MEXICO: SMART METER MARKET, BY COMMUNICATION, 2021–2028 (USD MILLION)
                                   TABLE 141 MEXICO: SMART METER MARKET, BY COMPONENT, 2021–2028 (USD MILLION)
                                   TABLE 142 MEXICO: SMART METER MARKET, BY TECHNOLOGY, 2021–2028 (USD MILLION)
                                   TABLE 143 MEXICO: SMART METER MARKET, BY END USER, 2021–2028 (USD MILLION)
     11.5 MIDDLE EAST & AFRICA 
             11.5.1 RECESSION IMPACT: MIDDLE EAST & AFRICA
             11.5.2 BY TYPE
                       TABLE 144 MIDDLE EAST & AFRICA: SMART METER MARKET, BY TYPE, 2021–2028 (USD MILLION)
             11.5.3 BY COMMUNICATION
                       TABLE 145 MIDDLE EAST & AFRICA: SMART METER MARKET, BY COMMUNICATION, 2021–2028 (USD MILLION)
             11.5.4 BY COMPONENT
                       TABLE 146 MIDDLE EAST & AFRICA: SMART METER MARKET, BY COMPONENT, 2021–2028 (USD MILLION)
                       TABLE 147 MIDDLE EAST & AFRICA: SMART METER MARKET FOR SOFTWARE, BY TYPE, 2021–2028 (USD MILLION)
                       TABLE 148 MIDDLE EAST & AFRICA: SMART METER MARKET FOR HARDWARE, BY TYPE, 2021–2028 (USD MILLION)
             11.5.5 BY TECHNOLOGY
                       TABLE 149 MIDDLE EAST & AFRICA: SMART METER MARKET, BY TECHNOLOGY, 2021–2028 (USD MILLION)
             11.5.6 BY END USER
                       TABLE 150 MIDDLE EAST & AFRICA: SMART METER MARKET, BY END USER, 2021–2028 (USD MILLION)
             11.5.7 BY COUNTRY
                       TABLE 151 MIDDLE EAST & AFRICA: SMART METER MARKET, BY COUNTRY, 2021–2028 (USD MILLION)
                       11.5.7.1 Saudi Arabia
                                   11.5.7.1.1 Rising infrastructure development and growing need to enhance operational efficiency
                                   TABLE 152 SAUDI ARABIA: SMART METER MARKET, BY TYPE, 2021–2028 (USD MILLION)
                                   TABLE 153 SAUDI ARABIA: SMART METER MARKET, BY COMMUNICATION, 2021–2028 (USD MILLION)
                                   TABLE 154 SAUDI ARABIA: SMART METER MARKET, BY COMPONENT, 2021–2028 (USD MILLION)
                                   TABLE 155 SAUDI ARABIA: SMART METER MARKET, BY TECHNOLOGY, 2021–2028 (USD MILLION)
                                   TABLE 156 SAUDI ARABIA: SMART METER MARKET, BY END USER, 2021–2028 (USD MILLION)
                       11.5.7.2 UAE
                                   11.5.7.2.1 Increasing energy consumption and growing need to improve utility operations
                                   TABLE 157 UAE: SMART METER MARKET, BY TYPE, 2021–2028 (USD MILLION)
                                   TABLE 158 UAE: SMART METER MARKET, BY COMMUNICATION, 2021–2028 (USD MILLION)
                                   TABLE 159 UAE: SMART METER MARKET, BY COMPONENT, 2021–2028 (USD MILLION)
                                   TABLE 160 UAE: SMART METER MARKET, BY TECHNOLOGY, 2021–2028 (USD MILLION)
                                   TABLE 161 UAE: SMART METER MARKET, BY END USER, 2021–2028 (USD MILLION)
                       11.5.7.3 South Africa
                                   11.5.7.3.1 Growing need to reduce utility debts
                                   TABLE 162 SOUTH AFRICA: SMART METER MARKET, BY TYPE, 2021–2028 (USD MILLION)
                                   TABLE 163 SOUTH AFRICA: SMART METER MARKET, BY COMMUNICATION, 2021–2028 (USD MILLION)
                                   TABLE 164 SOUTH AFRICA: SMART METER MARKET, BY COMPONENT, 2021–2028 (USD MILLION)
                                   TABLE 165 SOUTH AFRICA: SMART METER MARKET, BY TECHNOLOGY, 2021–2028 (USD MILLION)
                                   TABLE 166 SOUTH AFRICA: SMART METER MARKET, BY END USER, 2021–2028 (USD MILLION)
                       11.5.7.4 Israel
                                   11.5.7.4.1 Rising focus on real-time monitoring to manage power usage
                                   TABLE 167 ISRAEL: SMART METER MARKET, BY TYPE, 2021–2028 (USD MILLION)
                                   TABLE 168 ISRAEL: SMART METER MARKET, BY COMMUNICATION, 2021–2028 (USD MILLION)
                                   TABLE 169 ISRAEL: SMART METER MARKET, BY COMPONENT, 2021–2028 (USD MILLION)
                                   TABLE 170 ISRAEL: SMART METER MARKET, BY TECHNOLOGY, 2021–2028 (USD MILLION)
                                   TABLE 171 ISRAEL: SMART METER MARKET, BY END USER, 2021–2028 (USD MILLION)
                       11.5.7.5 Egypt
                                   11.5.7.5.1 Replacement of aging utility infrastructure to better manage electricity distribution
                                   TABLE 172 EGYPT: SMART METER MARKET, BY TYPE, 2021–2028 (USD MILLION)
                                   TABLE 173 EGYPT: SMART METER MARKET, BY COMMUNICATION, 2021–2028 (USD MILLION)
                                   TABLE 174 EGYPT: SMART METER MARKET, BY COMPONENT, 2021–2028 (USD MILLION)
                                   TABLE 175 EGYPT: SMART METER MARKET, BY TECHNOLOGY, 2021–2028 (USD MILLION)
                                   TABLE 176 EGYPT: SMART METER MARKET, BY END USER, 2021–2028 (USD MILLION)
                       11.5.7.6 Qatar
                                   11.5.7.6.1 Transition to smart cities and smart infrastructure
                                   TABLE 177 QATAR: SMART METER MARKET, BY TYPE, 2021–2028 (USD MILLION)
                                   TABLE 178 QATAR: SMART METER MARKET, BY COMMUNICATION, 2021–2028 (USD MILLION)
                                   TABLE 179 QATAR: SMART METER MARKET, BY COMPONENT, 2021–2028 (USD MILLION)
                                   TABLE 180 QATAR: SMART METER MARKET, BY TECHNOLOGY, 2021–2028 (USD MILLION)
                                   TABLE 181 QATAR: SMART METER MARKET, BY END USER, 2021–2028 (USD MILLION)
                       11.5.7.7 Turkey
                                   11.5.7.7.1 Reduction in duration of billing and human errors
                                   TABLE 182 TURKEY: SMART METER MARKET, BY TYPE, 2021–2028 (USD MILLION)
                                   TABLE 183 TURKEY: SMART METER MARKET, BY COMMUNICATION, 2021–2028 (USD MILLION)
                                   TABLE 184 TURKEY: SMART METER MARKET, BY COMPONENT, 2021–2028 (USD MILLION)
                                   TABLE 185 TURKEY: SMART METER MARKET, BY TECHNOLOGY, 2021–2028 (USD MILLION)
                                   TABLE 186 TURKEY: SMART METER MARKET, BY END USER, 2021–2028 (USD MILLION)
                       11.5.7.8 Rest of Middle East & Africa
                                   TABLE 187 REST OF MIDDLE EAST & AFRICA: SMART METER MARKET, BY TYPE, 2021–2028 (USD MILLION)
                                   TABLE 188 REST OF MIDDLE EAST & AFRICA: SMART METER MARKET, BY COMMUNICATION, 2021–2028 (USD MILLION)
                                   TABLE 189 REST OF MIDDLE EAST & AFRICA: SMART METER MARKET, BY COMPONENT, 2021–2028 (USD MILLION)
                                   TABLE 190 REST OF MIDDLE EAST & AFRICA: SMART METER MARKET, BY TECHNOLOGY, 2021–2028 (USD MILLION)
                                   TABLE 191 REST OF MIDDLE EAST & AFRICA: SMART METER MARKET, BY END USER, 2021–2028 (USD MILLION)
     11.6 SOUTH AMERICA 
             11.6.1 RECESSION IMPACT: SOUTH AMERICA
             11.6.2 BY TYPE
                       TABLE 192 SOUTH AMERICA: SMART METER MARKET, BY TYPE, 2021–2028 (USD MILLION)
             11.6.3 BY COMMUNICATION
                       TABLE 193 SOUTH AMERICA: SMART METER MARKET, BY COMMUNICATION, 2021–2028 (USD MILLION)
             11.6.4 BY COMPONENT
                       TABLE 194 SOUTH AMERICA: SMART METER MARKET, BY COMPONENT, 2021–2028 (USD MILLION)
                       TABLE 195 SOUTH AMERICA: SMART METER MARKET FOR SOFTWARE, BY TYPE, 2021–2028 (USD MILLION)
                       TABLE 196 SOUTH AMERICA: SMART METER MARKET FOR HARDWARE, BY TYPE, 2021–2028 (USD MILLION)
             11.6.5 BY TECHNOLOGY
                       TABLE 197 SOUTH AMERICA: SMART METER MARKET, BY TECHNOLOGY, 2021–2028 (USD MILLION)
             11.6.6 BY END USER
                       TABLE 198 SOUTH AMERICA: SMART METER MARKET, BY END USER, 2021–2028 (USD MILLION)
             11.6.7 BY COUNTRY
                       TABLE 199 SOUTH AMERICA: SMART METER MARKET, BY COUNTRY, 2021–2028 (USD MILLION)
                       11.6.7.1 Brazil
                                   11.6.7.1.1 Increasing need to improve operational efficiency
                                   TABLE 200 BRAZIL: SMART METER MARKET, BY TYPE, 2021–2028 (USD MILLION)
                                   TABLE 201 BRAZIL: SMART METER MARKET, BY COMMUNICATION, 2021–2028 (USD MILLION)
                                   TABLE 202 BRAZIL: SMART METER MARKET, BY COMPONENT, 2021–2028 (USD MILLION)
                                   TABLE 203 BRAZIL: SMART METER MARKET, BY TECHNOLOGY, 2021–2028 (USD MILLION)
                                   TABLE 204 BRAZIL: SMART METER MARKET, BY END USER, 2021–2028 (USD MILLION)
                       11.6.7.2 Argentina
                                   11.6.7.2.1 Growing demand for renewable energy
                                   TABLE 205 ARGENTINA: SMART METER MARKET, BY TYPE, 2021–2028 (USD MILLION)
                                   TABLE 206 ARGENTINA: SMART METER MARKET, BY COMMUNICATION, 2021–2028 (USD MILLION)
                                   TABLE 207 ARGENTINA: SMART METER MARKET, BY COMPONENT, 2021–2028 (USD MILLION)
                                   TABLE 208 ARGENTINA: SMART METER MARKET, BY TECHNOLOGY, 2021–2028 (USD MILLION)
                                   TABLE 209 ARGENTINA: SMART METER MARKET, BY END USER, 2021–2028 (USD MILLION)
                       11.6.7.3 Chile
                                   11.6.7.3.1 Rising need to modernize utility infrastructure and reduce operational costs
                                   TABLE 210 CHILE: SMART METER MARKET, BY TYPE, 2021–2028 (USD MILLION)
                                   TABLE 211 CHILE: SMART METER MARKET, BY COMMUNICATION, 2021–2028 (USD MILLION)
                                   TABLE 212 CHILE: SMART METER MARKET, BY COMPONENT, 2021–2028 (USD MILLION)
                                   TABLE 213 CHILE: SMART METER MARKET, BY TECHNOLOGY, 2021–2028 (USD MILLION)
                                   TABLE 214 CHILE: SMART METER MARKET, BY END USER, 2021–2028 (USD MILLION)
                       11.6.7.4 Rest of South America
                                   TABLE 215 REST OF SOUTH AMERICA: SMART METER MARKET, BY TYPE, 2021–2028 (USD MILLION)
                                   TABLE 216 REST OF SOUTH AMERICA: SMART METER MARKET, BY COMMUNICATION, 2021–2028 (USD MILLION)
                                   TABLE 217 REST OF SOUTH AMERICA: SMART METER MARKET, BY COMPONENT, 2021–2028 (USD MILLION)
                                   TABLE 218 REST OF SOUTH AMERICA: SMART METER MARKET, BY TECHNOLOGY, 2021–2028 (USD MILLION)
                                   TABLE 219 REST OF SOUTH AMERICA: SMART METER MARKET, BY END USER, 2021–2028 (USD MILLION)
 
12 COMPETITIVE LANDSCAPE (Page No. - 188)
     12.1 OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS 
               TABLE 220 OVERVIEW OF STRATEGIES ADOPTED BY KEY MANUFACTURERS OF SMART METERS
     12.2 MARKET SHARE ANALYSIS OF TOP FIVE PLAYERS, 2021 
               FIGURE 43 MARKET SHARE ANALYSIS OF TOP FIVE PLAYERS IN SMART METER MARKET, 2021
               TABLE 221 SMART METER MARKET: DEGREE OF COMPETITION
     12.3 SMART METER MARKET SHARE ANALYSIS, 2021 
     12.4 FIVE-YEAR COMPANY REVENUE ANALYSIS 
               FIGURE 44 REVENUE ANALYSIS OF TOP FIVE PLAYERS IN SMART METER MARKET, 2017–2021
     12.5 COMPANY EVALUATION MATRIX/QUADRANT, 2021 
             12.5.1 STARS
             12.5.2 PERVASIVE PLAYERS
             12.5.3 EMERGING LEADERS
             12.5.4 PARTICIPANTS
                       FIGURE 45 SMART METER MARKET (GLOBAL): KEY COMPANY EVALUATION MATRIX, 2021
     12.6 STARTUP/SME EVALUATION QUADRANT, 2021 
             12.6.1 PROGRESSIVE COMPANIES
             12.6.2 RESPONSIVE COMPANIES
             12.6.3 DYNAMIC COMPANIES
             12.6.4 STARTING BLOCKS
                       FIGURE 46 SMART METER MARKET: STARTUP/SME EVALUATION QUADRANT, 2021
     12.7 COMPETITIVE BENCHMARKING 
               TABLE 222 SMART METER MARKET: DETAILED LIST OF KEY STARTUPS/SMES
               TABLE 223 SMART METER MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES
     12.8 SMART METER MARKET: COMPANY FOOTPRINT 
               TABLE 224 TYPE: COMPANY FOOTPRINT
               TABLE 225 COMPONENT: COMPANY FOOTPRINT
               TABLE 226 END USER: COMPANY FOOTPRINT
               TABLE 227 REGION: COMPANY FOOTPRINT
               TABLE 228 COMPANY FOOTPRINT
     12.9 COMPETITIVE SCENARIO 
               TABLE 229 SMART METER MARKET: PRODUCT LAUNCHES, SEPTEMBER 2019–NOVEMBER 2022
               TABLE 230 SMART METER MARKET: DEALS, JULY 2019–OCTOBER 2022
               TABLE 231 SMART METER MARKET: OTHERS, JULY 2021–FEBRUARY 2022
 
13 COMPANY PROFILES (Page No. - 204)
(Business Overview, Products/Solutions Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*
     13.1 KEY PLAYERS 
             13.1.1 SCHNEIDER ELECTRIC
                       TABLE 232 SCHNEIDER ELECTRIC: COMPANY OVERVIEW
                       FIGURE 47 SCHNEIDER ELECTRIC: COMPANY SNAPSHOT
                       TABLE 233 SCHNEIDER ELECTRIC: PRODUCTS/SOLUTIONS OFFERED
                       TABLE 234 SCHNEIDER ELECTRIC: PRODUCT LAUNCHES
                       TABLE 235 SCHNEIDER ELECTRIC: DEALS
                       TABLE 236 SCHNEIDER ELECTRIC: OTHERS
             13.1.2 LANDIS+GYR
                       TABLE 237 LANDIS+GYR: COMPANY OVERVIEW
                       FIGURE 48 LANDIS+GYR: COMPANY SNAPSHOT
                       TABLE 238 LANDIS+GYR: PRODUCTS/SOLUTIONS OFFERED
                       TABLE 239 LANDIS+GYR: PRODUCT LAUNCHES
                       TABLE 240 LANDIS+GYR: DEALS
                       TABLE 241 LANDIS+GYR: OTHERS
             13.1.3 ITRON, INC.
                       TABLE 242 ITRON, INC.: COMPANY OVERVIEW
                       FIGURE 49 ITRON, INC.: COMPANY SNAPSHOT
                       TABLE 243 ITRON, INC.: PRODUCTS/SOLUTIONS OFFERED
                       TABLE 244 ITRON, INC.: PRODUCT LAUNCHES
                       TABLE 245 ITRON, INC.: DEALS
                       TABLE 246 ITRON, INC.: OTHERS
             13.1.4 SIEMENS
                       TABLE 247 SIEMENS: COMPANY OVERVIEW
                       FIGURE 50 SIEMENS: COMPANY SNAPSHOT
                       TABLE 248 SIEMENS: PRODUCTS/SOLUTIONS OFFERED
                       TABLE 249 SIEMENS: DEALS
                       TABLE 250 SIEMENS: OTHERS
             13.1.5 WASION GROUP
                       TABLE 251 WASION GROUP: COMPANY OVERVIEW
                       FIGURE 51 WASION GROUP: COMPANY SNAPSHOT
                       TABLE 252 WASION GROUP: PRODUCTS/SOLUTIONS OFFERED
                       TABLE 253 WASION GROUP: DEALS
             13.1.6 BADGER METER, INC.
                       TABLE 254 BADGER METER, INC.: COMPANY OVERVIEW
                       FIGURE 52 BADGER METER, INC.: COMPANY SNAPSHOT
                       TABLE 255 BADGER METER, INC.: PRODUCTS/SOLUTIONS OFFERED
                       TABLE 256 WASION GROUP: PRODUCT LAUNCHES
                       TABLE 257 BADGER METER, INC.: DEALS
             13.1.7 SENSUS (XYLEM)
                       TABLE 258 SENSUS (XYLEM): COMPANY OVERVIEW
                       FIGURE 53 SENSUS (XYLEM): COMPANY SNAPSHOT
                       TABLE 259 SENSUS (XYLEM): PRODUCTS/SOLUTIONS OFFERED
                       TABLE 260 SENSUS XYLEM: PRODUCT LAUNCHES
                       TABLE 261 SENSUS XYLEM: DEALS
             13.1.8 HONEYWELL INTERNATIONAL
                       TABLE 262 HONEYWELL INTERNATIONAL: COMPANY OVERVIEW
                       FIGURE 54 HONEYWELL INTERNATIONAL: COMPANY SNAPSHOT
                       TABLE 263 HONEYWELL INTERNATIONAL: PRODUCTS/SOLUTIONS OFFERED
                       TABLE 264 HONEYWELL INTERNATIONAL: PRODUCT LAUNCHES
                       TABLE 265 HONEYWELL INTERNATIONAL: DEALS
             13.1.9 LARSEN & TOUBRO
                       TABLE 266 LARSEN & TOUBRO: COMPANY OVERVIEW
                       FIGURE 55 LARSEN & TOUBRO: COMPANY SNAPSHOT
                       TABLE 267 LARSEN & TOUBRO: PRODUCTS/SOLUTIONS OFFERED
                       TABLE 268 LARSEN & TOUBRO: OTHERS
             13.1.10 KAMSTRUP A/S
                       TABLE 269 KAMSTRUP A/S: COMPANY OVERVIEW
                       TABLE 270 KAMSTRUP A/S: PRODUCTS/SOLUTIONS OFFERED
                       TABLE 271 KAMSTRUP A/S: PRODUCT LAUNCHES
                       TABLE 272 KAMSTRUP A/S: DEALS
                       TABLE 273 KAMSTRUP A/S: OTHERS
             13.1.11 GENUS POWER INFRASTRUCTURE
                       TABLE 274 GENUS POWER INFRASTRUCTURE: COMPANY OVERVIEW
                       FIGURE 56 GENUS POWER INFRASTRUCTURE: COMPANY SNAPSHOT
                       TABLE 275 GENUS POWER INFRASTRUCTURE: PRODUCTS/SOLUTIONS OFFERED
                           TABLE 276 GENUS POWER INFRASTRUCTURE: DEALS
             13.1.12 ACLARA TECHNOLOGIES
                       TABLE 277 ACLARA TECHNOLOGIES: COMPANY OVERVIEW
                       TABLE 278 ACLARA TECHNOLOGIES: PRODUCTS/SOLUTIONS OFFERED
                       TABLE 279 ACLARA TECHNOLOGIES: PRODUCT LAUNCHES
                       TABLE 280 ACLARA TECHNOLOGIES: DEALS
                       TABLE 281 ACLARA TECHNOLOGIES: OTHERS
             13.1.13 OSAKI ELECTRIC CO., LTD.(EDMI)
                       TABLE 282 OSAKI ELECTRIC CO., LTD. (EDMI): COMPANY OVERVIEW
                       TABLE 283 OSAKI ELECTRIC CO., LTD. (EDMI): PRODUCTS/SOLUTIONS OFFERED
                       TABLE 284 OSAKI ELECTRIC CO., LTD. (EDMI): PRODUCT LAUNCHES
                       TABLE 285 OSAKI ELECTRIC CO., LTD. (EDMI): DEALS
                       TABLE 286 OSAKI ELECTRIC CO. (EDMI): OTHERS
             13.1.14 SAGEMCOM
                       TABLE 287 SAGEMCOM: COMPANY OVERVIEW
                       TABLE 288 SAGEMCOM: PRODUCTS/SOLUTIONS OFFERED
                         TABLE 289 SAGEMCOM: PRODUCT LAUNCHES
                       TABLE 290 SAGEMCOM: DEALS
             13.1.15 ISKRAEMECO
                       TABLE 291 ISKRAEMECO: COMPANY OVERVIEW
                       TABLE 292 ISKRAEMECO: PRODUCTS/SOLUTIONS OFFERED
                       TABLE 293 ISKRAEMECO: PRODUCT LAUNCHES
                       TABLE 294 ISKRAEMECO: DEALS
                       TABLE 295 ISKRAEMECO: OTHERS
     13.2 OTHER PLAYERS 
             13.2.1 JIANGSU LINYANG ELECTRONICS
                       TABLE 296 JIANGSU LINYANG ELECTRONICS
             13.2.2 HEXING ELECTRICAL
                       TABLE 297 HEXING ELECTRICAL
             13.2.3 NETWORKED ENERGY SERVICES CORPORATION
                       TABLE 298 NETWORKED ENERGY SERVICES CORPORATION
             13.2.4 PIETRO FIORENTINI
                       TABLE 299 PIETRO FIORENTINI
             13.2.5 SECURE METERS
                       TABLE 300 SECURE METERS
*Details on Business Overview, Products/Solutions Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies.
 
14 ADJACENT AND RELATED MARKETS (Page No. - 303)
     14.1 INTRODUCTION 
     14.2 LIMITATIONS 
     14.3 SMART METER INTERCONNECTED MARKETS 
     14.4 SMART WATER METER MARKET 
             14.4.1 MARKET DEFINITION
             14.4.2 LIMITATIONS
             14.4.3 MARKET OVERVIEW
             14.4.4 SMART WATER METER MARKET, BY METER TYPE
                       14.4.4.1 Electromagnetic Meters
                                   TABLE 301 ELECTROMAGNETIC METERS: SMART WATER METERING MARKET, BY REGION, 2020–2027 (USD MILLION)
                       14.4.4.2 Ultrasonic meters
                                   TABLE 302 ULTRASONIC METERS: SMART WATER METERING MARKET, BY REGION, 2020–2027 (USD MILLION)
                       14.4.4.3 Smart Mechanical meters
                                   TABLE 303 SMART MECHANICAL METERS: SMART WATER METERING MARKET, BY REGION, 2020–2027 (USD MILLION)
             14.4.5 SMART METER MARKET, BY COMPONENT
                       TABLE 304 SMART WATER METERING MARKET, BY COMPONENT, 2020–2027 (USD MILLION)
                       14.4.5.1 Meters & Accessories
                                   TABLE 305 METERS & ACCESSORIES: SMART WATER METERING MARKET, BY REGION, 2020–2027 (USD MILLION)
                       14.4.5.2 IT Solutions
                                   TABLE 306 IT SOLUTIONS: SMART WATER METERING MARKET, BY REGION, 2020–2027 (USD MILLION)
                       14.4.5.3 Communications
                                   TABLE 307 COMMUNICATIONS: SMART WATER METERING MARKET, BY REGION, 2020–2027 (USD MILLION)
             14.4.6 SMART METER MARKET, BY REGION
                       TABLE 308 SMART WATER METERING MARKET, BY REGION, 2020–2027 (USD MILLION)
     14.5 US WATER METER MARKET 
             14.5.1 MARKET DEFINITION
             14.5.2 LIMITATIONS
             14.5.3 MARKET OVERVIEW
             14.5.4 US WATER METER MARKET, BY PRODUCT
                       TABLE 309 US WATER METER MARKET, BY PRODUCT, 2016–2026 (USD MILLION)
             14.5.5 US WATER METER MARKET, BY APPLICATION
                       TABLE 310 US WATER METER MARKET, BY APPLICATION, 2016–2026 (USD MILLION)
 
15 APPENDIX (Page No. - 311)
     15.1 INSIGHTS FROM INDUSTRY EXPERTS 
     15.2 DISCUSSION GUIDE 
     15.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 
     15.4 CUSTOMIZATION OPTIONS 
     15.5 RELATED REPORTS 
     15.6 AUTHOR DETAILS 

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

Secondary Research

This research study on the smart meter market involved the use of extensive secondary sources, directories, and databases, such as Hoovers, Bloomberg, Businessweek, Factiva, International Energy Agency, and BP Statistical Review of World Energy, to identify and collect information useful for a technical, market-oriented, and commercial study of the global smart meter market. The other secondary sources included annual reports, press releases, and investor presentations of companies, white papers, certified publications, articles by recognized authors, manufacturer associations, trade directories, and databases.

Primary Research

The smart meter market comprises several stakeholders such as smart meter manufacturers, manufacturers of components of smart meter infrastructure, technology providers, and technology support providers in the supply chain. The demand side of this market is characterized by the rising demand for smart meter in the nations to reduce the non-revenue water losses and to improve the power infrastructure. The supply side is characterized by rising demand for contracts from the distribution utilities, and mergers and acquisitions among big players. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. Following is the breakdown of primary respondents:

Smart Meter Market Size, and Share

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

Market Size Estimation

Both top-down and bottom-up approaches were used to estimate and validate the total size of the smart meter market. These methods were also used extensively to estimate the size 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 market have been identified through extensive secondary research, and their market share in the respective regions have been determined through both primary and secondary research.
  • The industry’s value 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.

Global Smart meter Market Size: Bottom-up Approach

Smart Meter Market Size, and Share

To know about the assumptions considered for the study, Request for Free Sample Report

Data Triangulation

After arriving at the overall market size from the estimation process explained above, the total market has been split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for all the segments and subsegments, the data triangulation and market breakdown processes have been employed, wherever applicable. The data has been triangulated by studying various factors and trends from both the demand- and supply sides. Along with this, the market has been validated using both the top-down and bottom-up approaches.

Objectives of the Study

  • To define, describe, segment, and forecast the smart meter market size, by technology, meter type, component, and application
  • To provide detailed information on the major drivers, restraints, opportunities, and industry-specific challenges influencing the growth of the smart meter market
  • To strategically analyze the smart meter market with respect to individual growth trends, prospects, and contributions of each segment to the market
  • To analyze market opportunities for stakeholders and provide a detailed competitive landscape for market leaders
  • To forecast the revenue of the market segments with respect to five main regions (along with countries), namely, North America, Europe, Asia Pacific, South America, and the 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 new product developments, contracts & agreements, investments & expansions, and mergers & acquisitions in the smart meter 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 this report:

Geographic Analysis

  • Further breakdown of region or country-specific analysis

Company Information

  • Detailed analyses and profiling of additional market players (up to 5)
Report Code
EP 3297
Published ON
Feb, 2023
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