Home > Report Listing > Global smart electric meter market to reach USD 12.3 billion by 2026
Global smart electric meter market to reach USD 12.3 billion by 2026
Smart Electric Meter Report provides a comprehensive glance on a global and regional level. The study provides historical data from 2016 to 2018 along with a forecast from 2019 to 2026 based on revenue (USD Billion).
Global smart electric meter market is valued approximately at USD 9.3 billion in 2018 is anticipated to grow with a healthy growth rate of 4.11 % over the forecast period 2019-2026. The emergence of efficient data monitoring systems is considered as a key trend for the smart electric meter market over the forecast period. Since, it plays a crucial role in smart electric meter and can be deployed to meet regular demand for energy and power. Furthermore, increasing adoption of smart grid technologies is expected to create lucrative growth opportunities for the global Smart Electric Meter market over the forecast period of 2019-2026.
The growth of the smart electric meter market is attributed owing to the increase in investments to support smart grid technologies. As, smart grids and meters helps to assist in compensating for looses by controlling the consumption of energy of various electronic devices. As per the China Electricity Council by 2020, the government of China has planned to build three major transmission lines (each of 20 GW of transmission capacity). Further, in 2015, the Chinese government has committed approximately $101 billion to develop and enhance smart grid technology. Similarly, the Smart America Organization estimates that, government of United States has invested nearly $41 trillion with an aim to upgrade and modernize smart-grid infrastructure. Through this plan, both China and United States government works to enhance the quality of life for its citizen and to create environmental sustainability. Therefore, the demand and utility of smart electric meter would increase as these devices enable energy suppliers to continuously monitor and control electricity consumption at multiple points in the grid and enables the management of power distribution. However, security issues and high costs are some factors that impedes the growth of the global smart electric meter market during the forecast period.
On the basis of segmentation, the smart electric meter market is segmented into phase, communication technology type and end-user. The phase segment of smart electric meter market is classified single phase and three- phase of which three-phase segment is the expected to emerge as fastest growing segment owing to the deployment of three-phase meters in large commercial and industrial applications. On the basis of communication technology type segment, the market is bifurcated into power line communication, radio frequency and cellular of which power line communication is the dominant segment as it is most commonly used communication technology owing to its advantages such as improved cost-effectiveness for rural lines, existing utility infrastructure of wires and poles and usability in a challenging terrain. The end-user segment includes residential, commercial and industrial of which residential segment led the market due to widespread use of sophisticated electronic, electrical and data equipment.
The regional analysis of smart electric meter market is considered for the key regions such as North America, Europe, Asia Pacific, Latin America and ROW. North America dominates the smart electric meter market owing to the regulatory policies and standards to promote enhanced grid management. Whereas, Asia-Pacific exhibits highest growth rate / CAGR over the forecast period 2019-2026. Factors such as government initiatives such as favourable government policies and programs for the implementation of smart grid. For Instance: China, through its 13th Five Year Plan (2016-2020), is gearing towards sustainable energy management. As a result, the adoption for smart electric meters would increase thereby contributing towards the growth of the Asia-Pacific region over the forecast period of 2019-2026.
Some of the Market players include-
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Communication Technology Type:
Power Line Communication
Middle East & Africa
Furthermore, years considered for the study are as follows:
Historical year ? 2016, 2017
Base year ? 2018
Forecast period ? 2019 to 2026
Target Audience of the Global Smart Electric Meter Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
Note: Kindly note sample report does not include any data or related information of the research study. It only showcase flow of information and different section covered. It is a paid report
Getting the research team on board discussing research objective, research scope, methodology, timeline and challenges
Developing Contact lits,Questionnaires,and market models Conducting desk research through credible publishedsources to collect relevant qualitative & quantitative data in relation to the research objectives
Conducting interviews with key opinion leaders ( KOLs ) and stakeholders to derve data in relationto the research objective and validate market numbers estimated through market models and industry-leading research tool
Analysis & Report Writing
Analysing the data sourced via desk and primary research and building report, conclusions,& recommendations sed on research objective
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Growth rate or CAGR exhibited by a market for a certain forecast period is calculated on the basis of various factors and their level of impact on the market. These factors include market drivers, restraints, industry challenges, market and technological developments, market trends, etc.
Annual reports, investor presentation, SEC filings, and press releases of companies operating in the market
Studies published by relevant associations MedTech Europe; American College of Radiology; Cancer Council Australia; Japan Hospital Association, etc.), government sources (Centers for Disease Control & Prevention, Ministry of Health, Labour & Welfare, Japan; National Health Service, England, etc.), international organizations (World Health Organization, The Organization for Economic Co-operation and Development, Eurostat, etc.), and articles published by Research Gate, NCBI, etc.
Website, reports, and press releases of end user facilities – Hospitals, Ambulatory Surgery Centres, Clinics
Industry journals and paid databases
Details such as revenues, market share, strategies, growth rate, product & their pricing by region/country for all major companies
Details in relation to prevalence, incidence, patient numbers, distribution of patients, average price of treatment, etc.
Number of end user facilities by region/country and average annual spending or procurement of devices by type of end user facility
Number of procedures and average price of procedures
Replacement rate and pricing of capital equipment
Market dynamics in relation to the market under focus – Drivers, restraints, trends, and opportunities
Market & technological trends, new product developments, product pipeline.
Detailed product mappping of all Major and small players operating in the market
Estimmation of revenues/market size of all segments to arrive at the total market
Estimmates based on prevalence of diseases,diagnosed and treated patients numbers, product demand, and average annual spending on treatment
Estimates based on number of users end average consumption/spending by end users
Estimates based on number of procedures and average number of devices\consumables used per procedure
Top-down approach based on the data published on revenues, market share and growth rate of major players operating in the market
Discussions with key opinion leaders(KOLs) and stakeholders to validates market estimates and get their insights in relation to trends, dyanamics and competitive analysis
Key stakeholders such as purchasing managers, nurses, pharmacists, surgeons, physicians, etc. in end-use facilities such as hospitals, clinics, ambulatory surgery centers, pharmacies, research institutes, etc.
Key opinion leaders in related associations
Key stakeholders such as C-level executives, marketing managers, product managers, sales managers, etc. in major companies (suppliers and distributors) operating in the market
Insights from supply side respondents in relation to the market size, growth rate, market distribution, market dynamics, and market share analysis
Validation of the market size, growth rate, and market distribution estimated on the basis of market models
nsights from end user respondents to feed into models such as patient/procedure numbers, distribution of patients by treatment type, average pricing, average spending on devices, replacement rate of capital equipment, etc.
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