Global Power Metering Market to Reach USD 28.2 Billion by 2033, Bolstered by Product Innovation

January 15, 2025 | Energy & Mining

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The latest report by IMARC Group, titled “Power Metering Market Report by Phase (Single Phase, Three Phase), Technology (Analog Meters, Digital Meters, Smart Meters), End Use (Residential, Commercial, Industrial), and Region 2025-2033,” finds that the global power metering market reached a value of USD 19.2 Billion in 2024. Power metering is a device installed to measure electricity consumption in household and industrial areas. It provides accurate reading and relevant data metrics compared to electric meters. The system reports energy consumption, enabling utilities and energy distributors to manage their supply and demand in real-time. A power metering system offers low maintenance costs and high operating efficiency. It also results in less tampering and low carbon emissions. In recent years, power metering is replacing conventional digital meters as an efficient and reliable power distribution setup system across the globe.

Global Power Metering Market Trends:

The market is primarily driven by the rising electricity consumption and dependence on electronic appliances. In addition, with the growing population, there has been an increase in the demand for energy in both commercial and industrial sectors, which is fueling the market growth. Nowadays, energy distributors are also using power metering systems to minimize wastage, resulting in low costs, high reliability, less tampering, and low carbon emissions. Besides this, governments in different countries are focusing on developing grid infrastructure by installing towers and enabling people access to electricity. This is encouraging the installation of power metering systems across the globe. Furthermore, technological advancements, such as the introduction of smart meters, that can be connected via web applications to laptops or smartphones to simplify the operations and enable remote monitoring are creating a positive outlook for the market. Looking forward, the market is expected to reach a value of USD 28.2 Billion by 2033, exhibiting a CAGR of 4% during the forecast period (2025-2033).

Market Summary:

Based on the phase, the market has been segmented into single and three phases.
On the basis of technology, the market has been classified into analog, digital, and smart meters.
The market has been categorized based on the end use into residential, commercial, and industrial.
Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
The competitive landscape of the market has been examined, with some of the key players being ABB Ltd., Eaton Corporation PLC, General Electric Company, Holley Technology Ltd., Honeywell International Inc., Itron Inc., Jiangsu Linyang Energy Co.Ltd., Ningbo Sanxing Medical Electric Co. Ltd., Schneider Electric SE, Sensus USA Inc. (Xylem Inc.), Siemens AG, and Toshiba Corporation.

Report Coverage:

Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	Billion USD
Segment Coverage	Phase, Technology, End Use, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	ABB Ltd., Eaton Corporation PLC, General Electric Company, Holley Technology Ltd., Honeywell International Inc., Itron Inc., Jiangsu Linyang Energy Co.Ltd., Ningbo Sanxing Medical Electric Co. Ltd., Schneider Electric SE, Sensus USA Inc. (Xylem Inc.), Siemens AG and Toshiba Corporation
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Power Metering Market to Reach USD 28.2 Billion by 2033, Bolstered by Product Innovation

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