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3. Landis+Gyr (Toshiba Corporation) (Switzerland) and Itron (US) are the Key Players in the Smart Electric Meter Market

The global smart electric meter market is projected to grow at a CAGR of 4.11%, from 2018 to 2023. The market in Asia Pacific is estimated to be the largest market for smart electric meters, followed by the North American and the European market in 2018. This trend is expected to continue until 2023. The growth can be attributed to the rising investments in smart grid projects and increasing upgradation of transmission & distribution infrastructure, triggered by the rising demand for energy.

The smart electric meter market is dominated by a few global players. The key 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).

Major strategies adopted by the players are new product launches; contracts & agreements; partnerships, collaborations, alliances, and joint ventures; mergers & acquisitions; and investments & expansions from 2014 to March 2018. Contracts & agreements was the most commonly adopted strategy. Industry players also adopted new product launches, and partnerships, collaborations, alliances, and joint ventures, which were the second- and third-most widely followed strategies during the same period.

Landis+Gyr was found in 1896 and is headquartered in Zug, Switzerland. In 2011, Toshiba Corporation (Japan) acquired a 60% stake in Landis+Gyr AG, with the remaining 40% held by Innovation Network Corporation of Japan. It offers a wide portfolio of products, systems, and services, including energy meters, integrated metering solutions, advanced metering, sensing and automation tools, load control, analytics, as well as energy storage. The company has adopted contracts & agreements and new product launches as its key strategies. In February 2018, Landis+Gyr entered into a contract with Elektroset for providing an advanced metering infrastructure technology for the utility’s grid modernization program. This contract will strengthen Landis+Gyr’s presence in the US. In November 2017, the company expanded its distribution sensor product portfolio by adding a cellular communication option to its S610 Line Sensor which is used for detecting and locating faults quickly, monitoring power flows, and improving grid reliability.

Itron is one of the major providers of basic meters, digital meters, smart meters, data collection, and utility software systems. Its smart metering systems include automated meter reading (AMR) and advanced metering infrastructure (AMI) technologies used to measure electricity, water, and gas consumption. The company provides its solutions through 3 segments: electricity, gas, and water. The company has adopted contracts & agreements and new product launches as its key strategies. In December 2017, Itron was awarded a contract by Vectren for grid modernization. In January 2017, Itron was awarded a contract by AVANGRID in the US. The scope of the contract includes installation of advanced metering infrastructure (OpenWay Riva) in Ithaca, New York. The company expanded its product portfolio by adding new grid connectivity which would help utilities improve their grid performance, in January 2017. In January 2015, Itron expanded its cellular product portfolio by launching a 4G LTE smart metering solution featuring an OpenWay CENTRON 4G LTE meter.

Related Reports:

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

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