The global smart meter market was valued at USD 8.23 billion in 2018 and is expected to reach USD 28.24 billion in 2026, growing at a CAGR of 16.6% during the forecast period.
Smart Meter is a measuring device for gas and electricity usage. The smart meters send the information via radiofrequency electromagnetic radiation (RF) which can help the customer of the company to efficiently manage and control the energy usage.
Smart Meter Market Segmentation |
|
| By Type | 1. Smart Electric Meters |
| 2. Smart Water Meters | |
| 3. Smart Gas Meters | |
| By Technology | 1. Automatic Meter Reading |
| 2. Advanced Metering Infrastructure | |
| By Application | 1. Residential |
| 2. Commercial | |
| 3. Industrial | |
| By Region | 1. North America (US and Canada) |
| 2. Europe (UK, Germany, France and Rest of Europe) | |
| 3. Asia Pacific (China, Japan, India and Rest of Asia Pacific) | |
| 4. Latin America (Brazil, Mexico and Rest of Latin America) | |
| 5. Middle East & Africa (GCC and Rest of Middle East & Africa) | |
The growth of the smart meter market is primarily driven by supporting government policies and demand for energy conservation, and an increase in investment inefficient distribution networks. Moreover, rising demand from growing demand for energy distribution, managing the electricity and gas system in emerging countries also drives the growth of the global smart meter market. Furthermore, growing deployment of energy utility companies and smart grid projects on improving distribution efficiency further grows the demand for the market. On the other hand, high initial investment by the end users is creating a major hindrance for its market growth. However, continuous development in the integration of distributed generation is expected to create major growth opportunities during the forecast period.
The smart electric meters segment expected to lead the market during the forecast period
Based on the type, the global smart meter market has been segmented into smart electric meters, smart water meters, and smart gas meters. The smart electric meters segment estimated to hold around 60% in the global market in 2018 and growing development are expected to continue its dominance in the coming years. The smart gas meters offer theft prevention feature unlike in conventional gas meters. The smart gas meter manufacturing companies are investing in the development of the meter-to-cash model, and asset management & leakage detection is expected to further boost the demand for smart gas meters during the forecast period.
Based on the technology, the advanced metering infrastructure segment is expected to grow at the fastest rate of 20.6% CAGR during the forecast period
Based on the technology, the market has been segmented into automatic meter reading and advanced metering infrastructure. The advanced metering infrastructure segment expected to grow at the fastest rate of 20.6% CAGR during the forecast period. Advanced metering infrastructure is providing efficiently meter reading and reducing the labor costs. Several government policies further replacing the automatic meter reading with the advanced metering infrastructure in power, water, & gas utilities.
Based on the application, the residential smart meter segment is expected to lead during the forecast period
Based on the application, the market has been segmented into residential smart meter, commercial smart meter, and industrial smart meter. The residential smart meter segment estimated to register for the largest share in the market in 2018. Owing to its growing construction and infrastructure projects and high deployment of smart gas meters in housing projects in Europe and North America. Again, Smart Meter is also used in the home control network, energy-efficient lighting, and electric heat pump to cater major demand for smart appliances in homes.
Asia-Pacific to dominate the smart meter market throughout the forecast period
Based on the region, Asia-Pacific predicted to hold nearly 45% share of the global smart meter market in 2018 and is expected to dominate the market throughout the forecast period followed by Europe and North America. Usage of smart meters in commercial, residential, and industrial sectors and strong economic growth in the Asia-Pacific region is one of the key factors driving the consumption of smart meter in this region. Moreover, the growth of construction, water and electricity management and supportive government policies towards the installation of smart meters in key countries such as Japan, India, and China are also propelling the growth of smart meter in the Asia-Pacific region. While Europe accounted for the highest CAGR in the global smart meter market during the forecast period.
Company Profiles and Competitive Intelligence:
The major players operating in the global smart meter market are Kamstrup A/S (Denmark), Toshiba Corporation (Japan), Itron, Inc. (US), Holley Metering, Ltd. (China), Honeywell International, Inc. (US), Schneider Electric (France), EDMI Ltd. (Singapore), Wasion Group (China), Diehl Metering GmbH (Germany), and Badger Meter Inc. (US) among others.
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TABLE OF CONTENT
Chapter 1 Executive Summary
1.1. Market Summary
1.1.1. Global Smart Meter Market, 2016-2026, (USD Million)
1.2. Market Snapshot: Global Smart Meter Market
1.3. Market Dynamics
1.4. Global Smart Meter Market, by Segment, 2018
1.4.1. Global Smart Meter Market, by Type, 2018, (USD Million)
1.4.2. Global Smart Meter Market, by Technology, 2018, (USD Million)
1.4.3. Global Smart Meter Market, by Application, 2018, (USD Million)
1.4.4. Global Smart Meter Market, by Region, 2018 (USD Million)
1.5. Premium Insights
1.5.1. Smart Meter Market In Developed Vs. Developing Economies, 2018 vs 2026
1.5.2. Global Smart Meter Market: Regional Life Cycle Analysis
Chapter 2 Market Dynamics
2.1. Market Overview
2.2. Market Drivers
2.2.1. Supporting government policies
2.2.2. Demand for energy conservation
2.2.3. Increase in investment in efficient distribution networks
2.3. Market Restraints
2.3.1. High initial investment by the end users
2.3.2. Restraint 2
2.4. Market Opportunities
2.4.1. Continuous development in integration of distributed generation
2.4.2. Technological advancements such as smart grid development
2.5. Industry Value Chain Analysis
2.6. Pricing Analysis
2.7. Porter’s Five Forces Analysis
Chapter 3 Global Smart Meter Market, by Type
3.1. Market Overview, by Type
3.1.1. Global Smart Meter Market, by Type, 2016-2026 (USD Million)
3.1.2. Incremental Opportunity, by Type, 2018
3.2. Smart Electric Meters
3.2.1. Global Smart Meter Market, by Smart Electric Meters, 2016-2026, (USD Million)
3.3. Smart Water Meters
3.3.1. Global Smart Meter Market, by Smart Water Meters, 2016-2026, (USD Million)
3.4. Smart Gas Meters
3.4.1. Global Smart Meter Market, by Smart Gas Meters, 2016-2026, (USD Million)
Chapter 4 Global Smart Meter Market, by Technology
4.1. Market Overview, by Technology
4.1.1. Global Smart Meter Market, by Technology, 2016-2026 (USD Million)
4.1.2. Incremental Opportunity, by Technology, 2018
4.2. Automatic Meter Reading
4.2.1. Global Smart Meter Market, by Automatic Meter Reading, 2016-2026, (USD Million)
4.3. Advanced Metering Infrastructure
4.3.1. Global Smart Meter Market, by Advanced Metering Infrastructure, 2016-2026, (USD Million)
Chapter 5 Global Smart Meter Market, by Application
5.1. Market Overview, by Application
5.1.1. Global Smart Meter Market, by Application, 2016-2026 (USD Million)
5.1.2. Incremental Opportunity, by Application, 2018
5.2. Residential
5.2.1. Global Smart Meter Market, by Residential, 2016-2026, (USD Million)
5.3. Commercial
5.3.1. Global Smart Meter Market, by Commercial, 2016-2026, (USD Million)
5.4. Industrial
5.4.1. Global Smart Meter Market, by Industrial, 2016-2026, (USD Million)
Chapter 6 Global Smart Meter Market, by Region
6.1. Market Overview, by Region
6.1.1. Global Smart Meter Market, by Region, 2016-2026, (USD Million)
6.2. Attractive Investment Opportunity, by Region, 2018
6.3. North America Smart Meter Market
6.3.1. North America Smart Meter Market, by Type, 2016-2026 (USD Million)
6.3.2. North America Smart Meter Market, by Technology, 2016-2026 (USD Million)
6.3.3. North America Smart Meter Market, by Application, 2016-2026 (USD Million)
6.3.4. United States Smart Meter Market, 2016-2026 (USD Million)
6.3.5. Canada Smart Meter Market, 2016-2026 (USD Million)
6.4. Europe Smart Meter Market
6.4.1. Europe Smart Meter Market, by Type, 2016-2026 (USD Million)
6.4.2. Europe Smart Meter Market, by Technology, 2016-2026 (USD Million)
6.4.3. Europe Smart Meter Market, by Application, 2016-2026 (USD Million)
6.4.4. United Kingdom Smart Meter Market, 2016-2026 (USD Million)
6.4.5. Germany Smart Meter Market, 2016-2026 (USD Million)
6.4.6. France Smart Meter Market, 2016-2026 (USD Million)
6.4.7. Rest of Europe Smart Meter Market, 2016-2026 (USD Million)
6.5. Asia Pacific Smart Meter Market
6.5.1. Asia Pacific Smart Meter Market, by Type, 2016-2026 (USD Million)
6.5.2. Asia Pacific Smart Meter Market, by Technology, 2016-2026 (USD Million)
6.5.3. Asia Pacific Smart Meter Market, by Application, 2016-2026 (USD Million)
6.5.4. China Smart Meter Market, 2016-2026 (USD Million)
6.5.5. Japan Smart Meter Market, 2016-2026 (USD Million)
6.5.6. India Smart Meter Market, 2016-2026 (USD Million)
6.5.7. Rest of Asia Pacific Smart Meter Market, 2016-2026 (USD Million)
6.6. Latin America Smart Meter Market
6.6.1. Latin America Smart Meter Market, by Type, 2016-2026 (USD Million)
6.6.2. Latin America Smart Meter Market, by Technology, 2016-2026 (USD Million)
6.6.3. Latin America Smart Meter Market, by Application, 2016-2026 (USD Million)
6.6.4. Brazil Smart Meter Market, 2016-2026 (USD Million)
6.6.5. Mexico Smart Meter Market, 2016-2026 (USD Million)
6.6.6. Rest of Latin America Smart Meter Market, 2016-2026 (USD Million)
6.7. Middle East & Africa Smart Meter Market
6.7.1. Middle East & Africa Smart Meter Market, by Type, 2016-2026 (USD Million)
6.7.2. Middle East & Africa Smart Meter Market, by Technology, 2016-2026 (USD Million)
6.7.3. Middle East & Africa Smart Meter Market, by Application, 2016-2026 (USD Million)
6.7.4. GCC Smart Meter Market, 2016-2026 (USD Million)
6.7.5. Rest of Middle East & Africa Smart Meter Market, 2016-2026 (USD Million)
Chapter 7 Competitive Intelligence
7.1. Top 5 Players Comparison
7.2. Market Positioning of Key Players, 2018
7.3. Market Players Mapping
7.3.1. By Type
7.3.2. By Technology
7.3.3. By Application
7.3.4. By Region
7.4. Strategies Adopted by Key Market Players
7.5. Recent Developments in the Market
7.5.1. Mergers & Acquisitions, Partnership, New Product Developments
Chapter 8 Company Profiles
8.1. Kamstrup A/S
8.1.1. Kamstrup A/S Overview
8.1.2. Kamstrup A/S Products Portfolio
8.1.3. Kamstrup A/S Financial Overview
8.1.4. Kamstrup A/S News/Recent Developments
8.2. Toshiba Corporation
8.2.1. Toshiba Corporation Overview
8.2.2. Toshiba Corporation Products Portfolio
8.2.3. Toshiba Corporation Financial Overview
8.2.4. Toshiba Corporation News/Recent Developments
8.3. Itron, Inc.
8.3.1. Itron, Inc. Overview
8.3.2. Itron, Inc. Products Portfolio
8.3.3. Itron, Inc. Financial Overview
8.3.4. Itron, Inc. News/Recent Developments
8.4. Holley Metering, Ltd.
8.4.1. Holley Metering, Ltd. Overview
8.4.2. Holley Metering, Ltd. Products Portfolio
8.4.3. Holley Metering, Ltd. Financial Overview
8.4.4. Holley Metering, Ltd. News/Recent Developments
8.5. Honeywell International, Inc.
8.5.1. Honeywell International, Inc. Overview
8.5.2. Honeywell International, Inc. Products Portfolio
8.5.3. Honeywell International, Inc. Financial Overview
8.5.4. Honeywell International, Inc. News/Recent Developments
8.6. Schneider Electric
8.6.1. Schneider Electric Overview
8.6.2. Schneider Electric Products Portfolio
8.6.3. Schneider Electric Financial Overview
8.6.4. Schneider Electric News/Recent Developments
8.7. EDMI Ltd.
8.7.1. EDMI Ltd. Overview
8.7.2. EDMI Ltd. Products Portfolio
8.7.3. EDMI Ltd. Financial Overview
8.7.4. EDMI Ltd. News/Recent Developments
8.8. Wasion Group
8.8.1. Wasion Group Overview
8.8.2. Wasion Group Products Portfolio
8.8.3. Wasion Group Financial Overview
8.8.4. Wasion Group News/Recent Developments
8.9. Diehl Metering GmbH
8.9.1. Diehl Metering GmbH Overview
8.9.2. Diehl Metering GmbH Products Portfolio
8.9.3. Diehl Metering GmbH Financial Overview
8.9.4. Diehl Metering GmbH News/Recent Developments
8.10. Badger Meter Inc.
8.10.1. Badger Meter Inc. Overview
8.10.2. Badger Meter Inc. Products Portfolio
8.10.3. Badger Meter Inc. Financial Overview
8.10.4. Badger Meter Inc. News/Recent Developments
Chapter 9 Preface
9.1. Data Triangulation
9.2. Research Methodology
9.2.1. Technology I – Secondary Research
9.2.2. Technology II – Primary Research
9.2.3. Technology III – Expert Panel Review
9.2.4. Approach Adopted
9.2.4.1. Top-Down Approach
9.2.4.2. Bottom-Up Approach
9.2.5. Supply- Demand side
9.2.6. Breakup of the Primary Profiles
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