OCEAN VIEW, Del., Aug. 17, 2017 /PRNewswire-iReach/ -- Smart
Electricity Meter Market size is set to exceed USD 11 billion by 2024; according to a new
research report by Global Market Insights, Inc.
Growing demand for accurate billing coupled with efforts towards
energy conservation will augment the global smart electricity
meters market growth. Rapid development of electricity network
along with growing investment in smart grid will further complement
the business landscape.
Increasing energy prices and growing instances of electricity
theft will further boost product demand. According to a 2013 IMF
report, global electricity theft was over USD 100 million. Rising concerns towards accuracy
in billing among end users may positively influence the industry
size.
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The American Recovery and Reinvestment Act (ARRA) mandating
strict regulations towards accurate billing along with increasing
electricity demand will stimulate the U.S. smart electricity meters
market size. The U.S. Department of Energy and ARRA jointly
invested USD 30 billion in 2009, to
give an impetus to a wide range of sustainable energy projects and
upgrade existing smart grid networks in the region.
Stringent regulations towards adoption of intelligent systems to
precisely track electricity consumption will augment the smart
electricity meter market share. European Union Directive 2009/72/EC
mandates member countries to undertake initiatives which will
increase consumer awareness towards the benefits of adopting these
products. Directive 2014/724/EU provides guidance to regulators on
safeguarding and protecting consumers' consumption data.
In 2016, UK contributed to over 20% of the Europe smart electricity meters market share
in terms of unit shipments. Department for Business, Energy &
Industrial Strategy along with the Office of Gas and Electricity
Markets (OFGEM) have directed utility providers to install these
products in every household by 2020, with a view to conserve
electricity.
Smart electricity meter market size from Automatic Meter Reading
(AMR) technology is anticipated to exceed USD 4 billion by 2024. Conventional AMR devices
were programmed to collect meter readings and match with the
utility provider's consumption data. Additional data parameters can
be set in these products to control their functionality remotely,
owing to technological advancement. These products give warning in
case of meter tampering, low battery and leak detection.
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Automated Metering Infrastructure (AMI) systems will grow owing
to increasing adoption of the advanced technology in developed
nations including the U.S., UK, Sweden, Norway and Japan. These products provide enhanced
features like notifications for demand response actions and time
based pricing.
Japan smart electricity meter
market is predicted to witness a paradigm shift owing to adoption
of AMI products. In August 2015,
Tokyo Electric Power Company (TEPCO) launched an initiative to
install over 2.7 million intelligent systems across the country and
offer 24-hour customer support service through a Smart Meter
Operation Centre.
Notable players in the smart electricity meters market include
Siemens, Itron, Schneider Electric, Landis+GYR, Icsa, Circutor,
Holley Metering, Iskraemeco, Osaki Electric, Honeywell
International, Sensus Sentec, Elster Group, Badger Meter and
Neptune Technology.
Browse key industry insights spread across 190 pages with 304
market data tables & 9 figures & charts from the report,
"Smart Electric Meter Market Size By Application (Residential,
Commercial, Utility), By Technology (AMR, AMI), Industry Analysis
Report, Regional Outlook (U.S., Canada, Germany, Italy, France, UK, Sweden, Portugal, China, Japan,
South Korea, India, Australia, UAE, Saudi Arabia, South
Africa, Lebanon,
Egypt, Mexico, Brazil, Uruguay, Argentina), Application Potential, Price
Trends, Competitive Market Share & Forecast, 2017 – 2024"
in detail along with the table of contents, please click on the
link below:
https://www.gminsights.com/industry-analysis/smart-electric-meter-market
Chapter 4 Smart Electric Meter Market, By
Application
4.1 Smart electric meter market share by
application, 2016 & 2024
4.2 Residential
4.2.1 Residential smart electric meter market, 2013
- 2024
4.2.2 Residential smart electric meter market, by
region, 2013 - 2024
4.3 Commercial
4.3.1 Commercial smart electric meter market, 2013 -
2024
4.3.2 Commercial smart electric meter market, by
region, 2013 – 2024
4.4 Utility
4.4.1 Utility smart electric meter market, 2013 -
2024
4.4.2 Utility smart electric meter market, by
region, 2013 – 2024
Chapter 5 Smart Electric Meter Market, By
Technology
5.1 Smart electric meter market share by
technology, 2016 & 2024
5.2 AMR
5.2.1 AMR smart electric meter market, 2013 -
2024
5.2.2 AMR smart electric meter market, by region,
2013 - 2024
5.3 AMI
5.3.1 AMI smart electric meter market, 2013 -
2024
5.3.2 AMI smart electric meter market, by region,
2013 – 2024
Browse Full TOC @
https://www.gminsights.com/toc/detail/smart-electric-meter-market
Browse Related Reports:
Smart Metering Systems Market Size, By Application
(Residential, Commercial, Utility), By Product (Water, Electricity,
Gas), By Technology (AMR, AMI), Industry Analysis Report, Regional
Outlook (U.S., Canada,
Germany, Italy, France, UK, Sweden, Italy, Portugal, China, Japan,
South Korea, India, Australia, UAE, Saudi Arabia, South
Africa, Lebanon,
Egypt, Mexico, Brazil, Uruguay, Argentina), Growth Potential, Price Trends,
Competitive Market Share & Forecast, 2016 – 2024
https://www.gminsights.com/industry-analysis/smart-metering-systems-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research
and consulting service provider; offering syndicated and custom
research reports along with growth consulting services. Our
business intelligence and industry research reports offer clients
with penetrative insights and actionable market data specially
designed and presented to aid strategic decision making. These
exhaustive reports are designed via a proprietary research
methodology and are available for key industries such as chemicals,
advanced materials, technology, renewable energy and
biotechnology.
Media Contact: Arun Hegde,
Global Market Insights, Inc., +18886890688,
sales@gminsights.com
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SOURCE Global Market Insights, Inc.