Smart Meters Market

Smart Meters Market worth $20.0 billion by 2022

The report "Smart Meters Market by Type (Electric, Water, and Gas), Application (Commercial, Residential, and Industrial), Technology (Automatic Meter Reading and Advanced Metering Infrastructure), and by Region - Global Forecasts to 2022" The global smart meters market is projected to reach USD 20.0 billion by 2022 from an estimated USD 12.8 billion in 2018, at a CAGR of 9.34%. This growth can be attributed to favorable government policies, increasing focus on energy conservation, rising investment in smart grid projects, and increasing investment towards efficient distribution networks.

Browse 62 market data Tables and 66 Figures spread through 137 Pages and in-depth TOC on "Smart Meters Market by Type (Electric, Water, and Gas), Application (Commercial, Residential, and Industrial), Technology (Automatic Meter Reading and Advanced Metering Infrastructure), and by Region - Global Forecasts to 2022"
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The smart electric meter segment is expected to hold the largest share of the smart meter market, by type, during the forecast period.

The smart electric segment is estimated to dominate the smart meter market in 2016 and is projected to have the largest market share during the forecast period. Government and other legislative bodies are promoting the installation of smart electricity meters around the world, as electricity meters help to monitor energy usage efficiently and reduce dependence on depleting fossil fuels. Smart metering allows governments, energy regulators, and policy makers to implement international commitments to reduce greenhouse gas emissions and contribute towards a greener environment. It will help governments to attain the goal of energy independence and reduce the environmental footprint of a country.

The commercial segment is expected to be the second fastest growing segment of the smart meter market, by application, during the forecast period.

The commercial segment accounted for the second highest CAGR during the forecast period. The demand for smart meters is driven by expanding urban areas and the development of commercial trade hubs. These factors will lead to an increase in the number of shopping malls, sports complexes, resorts, and hotels. The advancement of the digital economy and the growth of the IT and telecommunication sector have resulted in an increase in the construction of office complexes, thereby, driving the smart meter market.

Asia Pacific: The largest market for smart meters.

In this report, the smart meters market has been analyzed with respect to 6 regions, namely, North America, South America, Europe, Asia Pacific, the Middle East, and Africa. Asia Pacific is estimated to dominate the global smart meter market in 2016 owing to increasing smart grid investments and ongoing renewable projects, especially in the developed and emerging economies of Asia-Pacific, such as Japan, Australia, and China, are expected to drive the smart electric meters market in the region. In countries, such as Australia, Japan, and Singapore. Moreover, stringent government regulations in the developing countries are further expected to drive the market during the forecast period.

To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the smart meters market. Some of the key players are Schneider Electric (France), Siemens (Germany), Honeywell (US), Itron (US), and Sensus (US). The leading players are adopting various strategies to increase their shares in the smart meter market.

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