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The report offers an in-depth analysis of the “Global Smart Metering Market: Industry Analysis & Outlook (2017-2021)”. Major companies that have been covered in the report include Landis+Gyr Group, Itron, Inc., Sensus (Xylem), Silver Spring Networks.
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Smart meters, enabling two-way communication, provide energy consumption data to both utilities and consumers. These smart meters prove to be the most energy efficient systems which provide accurate energy usage and bills and also eliminate the cost of manual labor force to conduct repeated checks. Smart meters are one of the three key elements of advanced metering infrastructure.
A smart meter is an electronic energy meter that records energy consumption and transmits data to and from the utility company frequently, thereby, allowing direct meter reading and data analysis. These meters have helped in addressing the needs for power grids. Smart meters are broadly of three type’s i.e. smart electricity meters, smart gas meters and smart hot/cold meters.
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United States is one of the largest market for smart meters, but most growth potential at present is held by EMEA region because of compulsory government mandates and polies regarding renewable energy. The global spending on smart meters is increasing at a robust rate and the factors responsible for the overall market growth include new housing starts, increased penetration of smart meters, urbanization and economic growth.
The key trends of the market include industry consolidation and increased focus of major companies on research and development (R&D). The market is largely challenged by technology evolution threat and increased competition from Chinese peers.
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