Smart Electric Meter Market Industry Size, Demand & Top Market Players 2024

Global Smart Electric Meter Market: Overview

A smart electric meter is an electronic gadget that notes down the usage of electric power between certain intervals of time. This time intervals normally last for an hour or less. The meter then communicates this data back to the utility and the service provider for billing and monitoring. The smart electric meters works on the two-way communication principle. The communication is done between the central system and the meter.

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Global Smart Electric Meter Market: Growth Factors

The global smart electric meter market is likely to have a huge growth in coming future. Effective smart grid initiative in the surround areas is the main reason that has driven the growth of the global market. In addition to this, energy-efficiency measures are also driving the global smart electric meter market growth. Besides this, high investment in the up gradation of distribution & transmission infrastructure is also powering the growth of the global market. Moreover, renewable energy projects are also fueling the growth of global smart electric meter market. Additionally, rising industrialization plays a vital role in the elevation of the global market. Further, growing awareness among consumers pertaining to their benefits is one of the main reasons powering the growth of the global smart electric meter market.

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Global Smart Electric Meter Market: Segmentation

Based on phase, the global smart electric meter market is mainly classified as single phase and three phase. Based on the end user, the global market is bifurcated into industrial, commercial, and residential. On the communication technology, the global market for the smart electric meter is divided into power line communication, radio frequency cellular, and others.Based on target audience, the global market is bifurcated into smart electric meter dealers, manufacturers, and suppliers, consulting companies in the power sector, raw material providers, government utility providers, government and research organizations, private customers, private utility providers, metering companies, network operators, investment banks, venture capital firms, and others.

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Global Smart Electric Meter Market: Regional Analysis

Regionally, the global market for the smart electric meter is bifurcated into Europe, Asia Pacific, North America, and the Middle East and Africa. Effective smart grid initiative in the surround areas is boosting the global market in countries such as Canada and the U.S. in North America. High investment in the up gradation of distribution & transmission infrastructure has elevated the global market in countries such as Japan, India, and China in the Asia-Pacific area. Amongst this, China and India are said to hold the fate of the global market. Growing awareness among consumers pertaining to their benefits is also driving the global market in countries such as Germany and France in the Europe.

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Global Smart Electric Meter Market: Competitive Players

Some of the key players in the global market for the smart electric meter are Landis+Gyr, Itron, Sensus, Elster, Holley, Jiangsu Linyang, Toshiba Corporation, Echelon, Schneider Electric SE, Aclara technologies LLC, and Siemens AG.

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