Prepaid Electricity Metering Market Share and Size 2023-2028

Prepaid Electricity Metering Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Report Format: PDF+Excel | Report ID: SR112023A2402

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Market Overview 2023-2028:

The global prepaid electricity metering market size reached US$ 5.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 9.0 Billion by 2028, exhibiting a growth rate (CAGR) of 7.6% during 2023-2028.

The efficient utilization of electricity currently represents one of the biggest concerns around the world. This has resulted in a shift from convention electromechanical meters to prepaid electricity meters as they provide better security and control and enable users to pay for electricity in advance as well as keep track of the electricity consumed. Besides this, prepaid electricity meters help minimize the gap between the cost of power supply and revenue realized by ensuring timely payments. Consequently, their utilization is increasing in both the emerging and developed economies.

Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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Prepaid Electricity Metering Market Trends:

At present, there is a significant rise in the demand for energy security across the globe. As energy conservation and efficient utilization of power are key aspects of energy security, there is an increase in the overall sales of prepaid electricity meters across the globe. These meters instantly provide data of power consumption, which is then analyzed by users to control the use and stabilize energy demands. Besides this, prepaid electricity meters are getting more preference, especially in emerging economies, as the leading electricity firms are focusing on reducing their financial losses due to consumers’ reluctance or inability to make bill payments on time. Furthermore, governments of numerous countries are mandating the utilization of prepaid electricity meters to minimize human intervention in metering, billing and collection.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global prepaid electricity metering market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, component, phase and end user.

Breakup by Type:

Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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Thin Meter Based Solutions
Thick Meter Based Solutions

Breakup by Component:

Hardware
Software
Services

Breakup by Phase:

Single Phase
Three Phase

Breakup by End User:

Commercial
Industrial
Residential

Breakup by Region:

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North America
- United States
- Canada
Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
Latin America
- Brazil
- Mexico
- Others
Middle East and Africa

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being Accenture Plc, Aclara Technologies LLC (Hubbell Incorporated), Calico Energy Inc., Elster Group GmbH (Honeywell International Inc.), Exceleron Software LLC, HCL Technologies Limited, Infosys Limited, Itron Inc., KAMSTRUP A/S, Landis+Gyr, Oracle Corporation, PayGo Electric, Siemens AG and Wipro Limited.

Report Coverage:

Report Features	Details
Base Year of the Analysis	2022
Historical Period	2017-2022
Forecast Period	2023-2028
Units	US$ Billion
Segment Coverage	Type, Component, Phase, End User, 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	Accenture Plc, Aclara Technologies LLC (Hubbell Incorporated), Calico Energy Inc., Elster Group GmbH (Honeywell International Inc.), Exceleron Software LLC, HCL Technologies Limited, Infosys Limited, Itron Inc., KAMSTRUP A/S, Landis+Gyr, Oracle Corporation, PayGo Electric, Siemens AG and Wipro Limited
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499
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)

Key Questions Answered in This Report

The global prepaid electricity metering market was valued at US$ 5.8 Billion in 2022.

We expect the global prepaid electricity metering market to exhibit a CAGR of 7.6% during 2023-2028.

The rising sales of prepaid electricity meters owing to the increasing focus towards energy conservation and efficient utilization of power are primarily driving the global prepaid electricity metering market.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent
lockdown regulations across several nations, resulting in temporary halt in numerous manufacturing and installation activities for prepaid electricity meters.

Based on the type, the global prepaid electricity metering market has been divided into thin meter based solutions and thick meter based solutions. Currently, thick meter based solutions exhibit a clear dominance in the market.

Based on the component, the global prepaid electricity metering market can be categorized into hardware, software, and services. Among these, hardware holds the majority of the total market share.

Based on the phase, the global prepaid electricity metering market has been segmented into single phase and three phase, where single phase currently represents the largest market share.

Based on the end user, the global prepaid electricity metering market can be bifurcated into
commercial, industrial, and residential. Currently, the residential sector accounts for the majority of the total market share.

On a regional level, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where Asia Pacific currently dominates the global market.

Some of the major players in the global prepaid electricity metering market include Accenture Plc, Aclara Technologies LLC (Hubbell Incorporated), Calico Energy Inc., Elster Group GmbH (Honeywell International Inc.), Exceleron Software LLC, HCL Technologies Limited, Infosys Limited, Itron Inc., KAMSTRUP A/S, Landis+Gyr, Oracle Corporation, PayGo Electric, Siemens AG, and Wipro Limited.

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