Enquiry before buying
Speak to an Analyst
Request Brochure
IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.
Read More- Home
- |
- Press Release
- |
- Global Power Metering Market
Global Power Metering Market to Reach US$ 29.59 Billion by 2027, Bolstered by Product Innovation
March 02, 2022
The latest report by IMARC Group, titled “Power Metering Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” finds that the global power metering market size reached a value of US$ 20.63 Billion in 2021. 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.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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 US$ 29.59 Billion by 2027, exhibiting a CAGR of 5.8% during the forecast period (2022-2027).
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 Limited, Eaton Corporation PLC, The General Electric Company, Holley Technology Limited, Honeywell International Inc., Itron Inc., Jiangsu Linyang Energy Corporation Limited, Ningbo Sanxing Medical Electric Corporation Limited, Schneider Electric SE, Sensus USA Inc. (Xylem Inc.), Siemens AG, and Toshiba Corporation.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Contact US
IMARC Group
30 N Gould St, Ste R
Sheridan, WY (Wyoming) 82801 USA
Email: Sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800
Select Licence Type
Benefits of Customization
Personalize This Research
Triangulate with your Data
Get Data as per your Format and Definition
Gain a Deeper Dive into a Specific Application, Geography, Customer or Competitor
Any level of Personalization
Get in Touch With Us
UNITED STATES
Phone: +1-631-791-1145
INDIA
Phone: +91-120-433-0800
UNITED KINGDOM
Phone: +44-753-713-2163
Email: sales@imarcgroup.com
Client Testimonials
It was indeed a great experience to work with IMARC on the assignment on Aqua market. The team had done a fantastic job in terms of what was expected, what was assured and what was the result… the report gave us many insights and market know how which allowed us to work on our strength and define exact strategies…
Read More
We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra
Read More
Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.
Read More.webp)
We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.
Read More
The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.
Read More
The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.
Read More
My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.
Read More
I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.
Read More.webp){kind=logo}
We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.
Read More
IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.
Read More
