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According to our (Global Info Research) latest study, the global Smart Meter market size was valued at USD 7440.3 million in 2023 and is forecast to a readjusted size of USD 9554 million by 2030 with a CAGR of 3.6% during review period.
Smart meters are one of the basic equipment for data collection in smart grids (especially smart distribution networks). They are responsible for the collection, measurement and transmission of raw electrical energy data, and are the basis for information integration, analysis and optimization, and information presentation. In addition to the basic power metering function of traditional electric energy meters, smart meters also have two-way multi-rate metering functions, user-side control functions, and two-way data communication with multiple data transmission modes in order to adapt to the use of smart grids and new energy. Intelligent functions such as functions and anti-theft functions.
The main smart meter manufacturers in the market include Landis+Gyr, Itron and General Electric.
The top ten global companies account for nearly 47% of the market.
The overall market concentration is not high. The high-end market is mostly monopolized by foreign companies, and the low-end market products Serious homogeneity and fierce price competition have affected the healthy development of the market.
Smart meter packages are divided into single-phase smart meters and three-phase smart meters, which can be used in residential, commercial and industrial applications.
The Global Info Research report includes an overview of the development of the Smart Meter industry chain, the market status of Residential (Single-phase Smart Meters, Three-phase Smart Meters), Commercial (Single-phase Smart Meters, Three-phase Smart Meters), and key enterprises in developed and developing market, and analysed the cutting-edge technology, patent, hot applications and market trends of Smart Meter.
Regionally, the report analyzes the Smart Meter markets in key regions. North America and Europe are experiencing steady growth, driven by government initiatives and increasing consumer awareness. Asia-Pacific, particularly China, leads the global Smart Meter market, with robust domestic demand, supportive policies, and a strong manufacturing base.
Key Features:
The report presents comprehensive understanding of the Smart Meter market. It provides a holistic view of the industry, as well as detailed insights into individual components and stakeholders. The report analysis market dynamics, trends, challenges, and opportunities within the Smart Meter industry.
The report involves analyzing the market at a macro level:
Market Sizing and Segmentation: Report collect data on the overall market size, including the sales quantity (K Units), revenue generated, and market share of different by Type (e.g., Single-phase Smart Meters, Three-phase Smart Meters).
Industry Analysis: Report analyse the broader industry trends, such as government policies and regulations, technological advancements, consumer preferences, and market dynamics. This analysis helps in understanding the key drivers and challenges influencing the Smart Meter market.
Regional Analysis: The report involves examining the Smart Meter market at a regional or national level. Report analyses regional factors such as government incentives, infrastructure development, economic conditions, and consumer behaviour to identify variations and opportunities within different markets.
Market Projections: Report covers the gathered data and analysis to make future projections and forecasts for the Smart Meter market. This may include estimating market growth rates, predicting market demand, and identifying emerging trends.
The report also involves a more granular approach to Smart Meter:
Company Analysis: Report covers individual Smart Meter manufacturers, suppliers, and other relevant industry players. This analysis includes studying their financial performance, market positioning, product portfolios, partnerships, and strategies.
Consumer Analysis: Report covers data on consumer behaviour, preferences, and attitudes towards Smart Meter This may involve surveys, interviews, and analysis of consumer reviews and feedback from different by Application (Residential, Commercial).
Technology Analysis: Report covers specific technologies relevant to Smart Meter. It assesses the current state, advancements, and potential future developments in Smart Meter areas.
Competitive Landscape: By analyzing individual companies, suppliers, and consumers, the report present insights into the competitive landscape of the Smart Meter market. This analysis helps understand market share, competitive advantages, and potential areas for differentiation among industry players.
Market Validation: The report involves validating findings and projections through primary research, such as surveys, interviews, and focus groups.
Market Segmentation
Smart Meter market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value.
Market segment by Type
- Single-phase Smart Meters
- Three-phase Smart Meters
Market segment by Application
- Residential
- Commercial
- Industrial
Major players covered
- Landis+Gyr
- Itron
- General Electric
- Siemens
- Sensus
- Honeywell Elster
- Sanxing Medical Electric
- Jiangsu Linyang
- Kamstrup
- Wasion Group
- Sagemcom
- Hexing Electrical
- Nuri Telecom
- Clou Electronics
- Iskraemeco
- Zhejiang Chint
- Shenzhen HND
- Sunrise Technology
- Holley Technology
- LONGi Meter
- ZIV
Market segment by region, regional analysis covers
- North America (United States, Canada and Mexico)
- Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
- Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
- South America (Brazil, Argentina, Colombia, and Rest of South America)
- Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)
The content of the study subjects, includes a total of 15 chapters:
Chapter 1, to describe Smart Meter product scope, market overview, market estimation caveats and base year.
Chapter 2, to profile the top manufacturers of Smart Meter, with price, sales, revenue and global market share of Smart Meter from 2019 to 2024.
Chapter 3, the Smart Meter competitive situation, sales quantity, revenue and global market share of top manufacturers are analyzed emphatically by landscape contrast.
Chapter 4, the Smart Meter breakdown data are shown at the regional level, to show the sales quantity, consumption value and growth by regions, from 2019 to 2030.
Chapter 5 and 6, to segment the sales by Type and application, with sales market share and growth rate by type, application, from 2019 to 2030.
Chapter 7, 8, 9, 10 and 11, to break the sales data at the country level, with sales quantity, consumption value and market share for key countries in the world, from 2017 to 2023.and Smart Meter market forecast, by regions, type and application, with sales and revenue, from 2025 to 2030.
Chapter 12, market dynamics, drivers, restraints, trends and Porters Five Forces analysis.
Chapter 13, the key raw materials and key suppliers, and industry chain of Smart Meter.
Chapter 14 and 15, to describe Smart Meter sales channel, distributors, customers, research findings and conclusion.