Smart Meters Market Increasing Demand, Growth Analysis and Future Outlook by 2031

The global market for smart meters is projected to have considerable CAGR of around 7.5% during the forecast period. The market growth mainly backed by the increasing inclination towards smart meters in place of conventional meters due to various advantages, such as theft detection and leakage management further raises the demand for smart meters across the globe. The smart meters provides theft and accurate billing and enhanced customer services by the integration of AMI systems. Along with that, the growth is attributed to increasing penetration of smart meters in the near future, owing to government regulation and initiatives, rising demand for utility management, and rising urbanization in emerging economies such as India and China. Additionally, smart meters support in-house displays, keeping the consumers informed about the energy used by them in real-time. Some of the smart meters offer remote access to  various utility's control center and consumers can pay bills through mobile app syncing. Therefore growing penetration of smartphone also projected to provide significant opportunity to the market.

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The global smart meters market is segmented based on product type, technology, and application. Based on the product type, the market is further classified into smart gas meters, smart electric meters, smart water maters. The smart electric segment is projected to have considerable share owing to the growing demand of smart grid solutions in industrial and commercial applications. Moreover, the increasing deployment of smart electric meters in Europe and North America further contribute in the growth of the segmental market. Based on technology the market for smart meters further segregated into advanced metering infrastructure (AMI) and automated meter reading (AMR). The AMI segment is projected to hold significant share in the global smart meters market. The  On the basis of application the market is further segregated into residential, commercial and industrial.

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• Market Coverage


• Market number available for – 2025-2031


• Base year- 2025


• Forecast period- 2025-2031


• Segment Covered- By Source, By Product Type, By Applications


• Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill


• , and others

Global Smart Electric Meter Market - Segment

By Communication Technology

• Power Line Communication


• Cellular


• Radio Frequency

By Phase

• Single Phase


• Three Phase

By End-User

• Residential


• Commercial


• Industrial

Global Smart Electric Meter Market - Regional

North America

• US


• copyright

Europe

• Germany


• UK


• France


• Spain


• Italy


• Rest of Europe

Asia-Pacific

• China


• Japan


• India


• Rest of Asia-Pacific

Rest of the World

• Middle East & Africa


• Latin America

The Report Covers

• Market value data analysis of 2019 and forecast to 2026.


• Annualized market revenues ($ million) for each market segment.


• Country-wise analysis of major geographical regions.


• Key companies operating in the global smart meters market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.


• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.


• Analysis of market-entry and market expansion strategies.


• Competitive strategies by identifying ‘who-stands-where’ in the market.

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