In terms of revenue, the market was valued at USD 4.0 billion in 2011, and is expected to reach USD 19.8 billion in 2018, growing at a CAGR of 16.5% from 2012 to 2018. Increasing smart meter penetration due to benefits such as prepayment facilities, fraud detection, peak consumption knowledge, and energy saving is expected to drive the market over the forecast period. Significant regulatory initiatives, especially in the European Union, are estimated to assist in a large number of smart meter rollouts in the coming years.
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In addition, growing awareness of the importance of ensuring energy efficiency by controlling electricity usage during peak hours is expected to positively impact smart meter demand. On the other hand, credible security concerns among consumers due to lack of standardization and privacy issues are expected to deter market growth over the next few years.
Meters used for residential purposes held the largest market share in 2011, a trend that is expected to continue in the coming years. Residential applications accounted for over 81% of global smart meter units in 2011 while contributing to only 26.3% of the overall revenue. The demand for commercial smart meters is expected to reach 15.8 million units by 2018. North America led the global market in 2011; however, Asia Pacific is expected to be the fastest growing market in the coming years, and is predicted to grow at a CAGR of 20.5% from 2012 to 2018. The market is fairly consolidated, with the top four players accounting for over 60% of the overall demand in 2011. Key participants include Itron, Landis+Gyr, Elster, Sensus, Holley Metering Ltd., General Electric, and Jiangsu Linyang Electronics Co., Ltd. among others.
The value chain for electricity meters comprises of power generation firms as well as TSOs (Transmission System Operators) which are responsible for supplying electricity on high voltage grids and medium to low voltage grids respectively. In addition, smart energy service providers provide energy plans based on tariff and self diagnostics capabilities.
The global electricity meters market has been segmented on the basis of application into residential meters, commercial meters, and industrial meters. In terms of geography, Asia Pacific is expected to lead the market in terms of demand as well as revenue due to various initiatives undertaken to install smart meters in this region. Key market participants include Itron, Landis+Gyr, Jiangsu Linyang Electronics Co., Ltd., Holley Metering Ltd., Sensus, and Elster among others.
The report includes value chain analysis for better understanding of the supply chain of smart meters starting from the raw material to the actual meters across various applications. It also includes Porter’s five forces analysis to evaluate the degree of competitiveness in the market.
The report includes an extensive competitive landscape starting from the market share of the global smart meters market to company profiles of the major participants operating in the global market. Key market participants profiled in this report include Itron, Landis+Gyr, Holley Metering Ltd., Jiangsu Linyang Electronics Co., Ltd., General Electric, and so on. The market players are profiled with attributes such as company overview, financial overview, business strategies and recent developments in the field of smart meter technology.
The report segments the global electricity meters market as:
Electricity Meters Market, by Application:
Electricity Meters Market, by Geography:
- North America
- EMEA (Europe, the Middle East, and Africa)
- Asia Pacific
- Rest of the World (RoW)