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Smart Electric Meter Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The global smart electric meter market reached a value of US$ 21.45 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 35.86 Billion by 2027, exhibiting a CAGR of 8.60% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.

A smart electric meter sends the readings to the electricity supplier automatically and wirelessly using a secure smart data network. It measures the flow of electric power from the input to the output terminal and comprises a liquid-crystal display (LCD) display for showing readings of the parameters. It accurately monitors the quantity of electricity consumed by homes, companies, or other electrically powered devices. In addition, it assists consumers in tracking real-time updates for electricity while checking their credit and debt balances. As a result, the smart electric meter finds extensive applications in residential, commercial, and industrial sectors.

 

 
 

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Smart Electric Meter Market Trends:

The growing development of communication network infrastructure across the globe as it enables companies to communicate faster and better, reduce production costs and improve productivity represents one of the key factors driving the market. Moreover, several benefits offered by smart electric meters, such as minimizing meter reading costs, preventing disconnections, and removing inefficiencies in billing and re-connection costs to corporations and consumers, are propelling the growth of the market. In addition, there is a rise in the digitalization of electrical systems around the world. This, coupled with the growing demand for electricity from commercial and residential sectors, is positively influencing the market. Besides this, large scale installations of smart meters by utility companies are offering lucrative growth opportunities to industry investors. Apart from this, governments of several countries are undertaking initiatives to develop smart cities worldwide. This, along with the increasing development in cloud computing and analytics, is catalyzing the demand for smart electric meters. Additionally, the rising demand for remote monitoring and controlling of power grids is bolstering the growth of the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global smart electric meter market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type, phase and end user.

Breakup by Type:

 

 
 

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Breakup by Phase:

  • Single Phase
  • Three Phase
     

Breakup by End User:

  • Industrial
  • Commercial
  • 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 competitive landscape of the industry has also been examined along with the profiles of the key players being ABB Ltd., Aclara Technologies LLC (Hubbell Incorporated), Genus Power Infrastructures Ltd., Holley Technology Ltd., Honeywell International Inc., Iskraemeco Group, Itron Inc., Jiangsu Linyang Energy Co. Ltd., Landis+Gyr, Microchip Technology Inc., Schneider Electric SE and Wasion Group.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
    Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Type, 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 ABB Ltd., Aclara Technologies LLC (Hubbell Incorporated), Genus Power Infrastructures Ltd., Holley Technology Ltd., Honeywell International Inc., Iskraemeco Group, Itron Inc., Jiangsu Linyang Energy Co. Ltd., Landis+Gyr, Microchip Technology Inc., Schneider Electric SE and Wasion Group.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
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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)

1    Preface
2    Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction

    4.1    Overview
    4.2    Key Industry Trends
5    Global Smart Electric Meter Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6    Market Breakup by Type
    6.1    Advanced Metering Infrastructure (AMI)
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Automatic Meter Reading (AMR)
        6.2.1 Market Trends
        6.2.2 Market Forecast
7    Market Breakup by Phase
    7.1    Single Phase
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Three Phase
        7.2.1 Market Trends
        7.2.2 Market Forecast
8    Market Breakup by End User
    8.1    Industrial
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Commercial
        8.2.1 Market Trends
        8.2.2 Market Forecast
    8.3    Residential
        8.3.1 Market Trends
        8.3.2 Market Forecast
9    Market Breakup by Region
    9.1    North America
        9.1.1 United States
           9.1.1.1 Market Trends
           9.1.1.2 Market Forecast
        9.1.2 Canada
           9.1.2.1 Market Trends
           9.1.2.2 Market Forecast
    9.2    Asia-Pacific
        9.2.1 China
           9.2.1.1 Market Trends
           9.2.1.2 Market Forecast
        9.2.2 Japan
           9.2.2.1 Market Trends
           9.2.2.2 Market Forecast
        9.2.3 India
           9.2.3.1 Market Trends
           9.2.3.2 Market Forecast
        9.2.4 South Korea
           9.2.4.1 Market Trends
           9.2.4.2 Market Forecast
        9.2.5 Australia
           9.2.5.1 Market Trends
           9.2.5.2 Market Forecast
        9.2.6 Indonesia
           9.2.6.1 Market Trends
           9.2.6.2 Market Forecast
        9.2.7 Others
           9.2.7.1 Market Trends
           9.2.7.2 Market Forecast
    9.3    Europe
        9.3.1 Germany
           9.3.1.1 Market Trends
           9.3.1.2 Market Forecast
        9.3.2 France
           9.3.2.1 Market Trends
           9.3.2.2 Market Forecast
        9.3.3 United Kingdom
           9.3.3.1 Market Trends
           9.3.3.2 Market Forecast
        9.3.4 Italy
           9.3.4.1 Market Trends
           9.3.4.2 Market Forecast
        9.3.5 Spain
           9.3.5.1 Market Trends
           9.3.5.2 Market Forecast
        9.3.6 Russia
           9.3.6.1 Market Trends
           9.3.6.2 Market Forecast
        9.3.7 Others
           9.3.7.1 Market Trends
           9.3.7.2 Market Forecast
    9.4    Latin America
        9.4.1 Brazil
           9.4.1.1 Market Trends
           9.4.1.2 Market Forecast
        9.4.2 Mexico
           9.4.2.1 Market Trends
           9.4.2.2 Market Forecast
        9.4.3 Others
           9.4.3.1 Market Trends
           9.4.3.2 Market Forecast
    9.5    Middle East and Africa
        9.5.1 Market Trends
        9.5.2 Market Breakup by Country
        9.5.3 Market Forecast
10    SWOT Analysis
    10.1    Overview
    10.2    Strengths
    10.3    Weaknesses
    10.4    Opportunities
    10.5    Threats
11    Value Chain Analysis
12    Porters Five Forces Analysis

    12.1    Overview
    12.2    Bargaining Power of Buyers
    12.3    Bargaining Power of Suppliers
    12.4    Degree of Competition
    12.5    Threat of New Entrants
    12.6    Threat of Substitutes
13    Price Analysis
14    Competitive Landscape

    14.1    Market Structure
    14.2    Key Players
    14.3    Profiles of Key Players
        14.3.1    ABB Ltd.
           14.3.1.1 Company Overview
           14.3.1.2 Product Portfolio
           14.3.1.3 Financials
           14.3.1.4 SWOT Analysis
        14.3.2    Aclara Technologies LLC (Hubbell Incorporated)
           14.3.2.1 Company Overview
           14.3.2.2 Product Portfolio
           14.3.2.3 SWOT Analysis
        14.3.3    Genus Power Infrastructures Ltd.
           14.3.3.1 Company Overview
           14.3.3.2 Product Portfolio
           14.3.3.3 Financials
        14.3.4    Holley Technology Ltd.
           14.3.4.1 Company Overview
           14.3.4.2 Product Portfolio
        14.3.5    Honeywell International Inc.
           14.3.5.1 Company Overview
           14.3.5.2 Product Portfolio
           14.3.5.3 Financials
        14.3.6    Iskraemeco Group
           14.3.6.1 Company Overview
           14.3.6.2 Product Portfolio
        14.3.7    Itron Inc.
           14.3.7.1 Company Overview
           14.3.7.2 Product Portfolio
           14.3.7.3 Financials
           14.3.7.4 SWOT Analysis
        14.3.8    Jiangsu Linyang Energy Co. Ltd.
           14.3.8.1 Company Overview
           14.3.8.2 Product Portfolio
           14.3.8.3 Financials
        14.3.9    Landis+Gyr
           14.3.9.1 Company Overview
           14.3.9.2 Product Portfolio
           14.3.9.3 Financials
        14.3.10    Microchip Technology Inc.
           14.3.10.1 Company Overview
           14.3.10.2 Product Portfolio
           14.3.10.3 Financials
           14.3.10.4 SWOT Analysis
        14.3.11    Schneider Electric SE
           14.3.11.1 Company Overview
           14.3.11.2 Product Portfolio
           14.3.11.3 Financials
           14.3.11.4 SWOT Analysis
        14.3.12    Wasion Group
           14.3.12.1 Company Overview
           14.3.12.2 Product Portfolio
           14.3.12.3 Financials

List of Figures

Figure 1: Global: Smart Electric Meter Market: Major Drivers and Challenges
Figure 2: Global: Smart Electric Meter Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Smart Electric Meter Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: Global: Smart Electric Meter Market: Breakup by Type (in %), 2021
Figure 5: Global: Smart Electric Meter Market: Breakup by Phase (in %), 2021
Figure 6: Global: Smart Electric Meter Market: Breakup by End User (in %), 2021
Figure 7: Global: Smart Electric Meter Market: Breakup by Region (in %), 2021
Figure 8: Global: Smart Electric Meter (Advanced Metering Infrastructure (AMI)) Market: Sales Value (in Million US$), 2016 & 2021
Figure 9: Global: Smart Electric Meter (Advanced Metering Infrastructure (AMI)) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 10: Global: Smart Electric Meter (Automatic Meter Reading (AMR)) Market: Sales Value (in Million US$), 2016 & 2021
Figure 11: Global: Smart Electric Meter (Automatic Meter Reading (AMR)) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 12: Global: Smart Electric Meter (Single Phase) Market: Sales Value (in Million US$), 2016 & 2021
Figure 13: Global: Smart Electric Meter (Single Phase) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 14: Global: Smart Electric Meter (Three Phase) Market: Sales Value (in Million US$), 2016 & 2021
Figure 15: Global: Smart Electric Meter (Three Phase) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 16: Global: Smart Electric Meter (Industrial) Market: Sales Value (in Million US$), 2016 & 2021
Figure 17: Global: Smart Electric Meter (Industrial) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 18: Global: Smart Electric Meter (Commercial) Market: Sales Value (in Million US$), 2016 & 2021
Figure 19: Global: Smart Electric Meter (Commercial) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 20: Global: Smart Electric Meter (Residential) Market: Sales Value (in Million US$), 2016 & 2021
Figure 21: Global: Smart Electric Meter (Residential) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 22: North America: Smart Electric Meter Market: Sales Value (in Million US$), 2016 & 2021
Figure 23: North America: Smart Electric Meter Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 24: United States: Smart Electric Meter Market: Sales Value (in Million US$), 2016 & 2021
Figure 25: United States: Smart Electric Meter Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 26: Canada: Smart Electric Meter Market: Sales Value (in Million US$), 2016 & 2021
Figure 27: Canada: Smart Electric Meter Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 28: Asia-Pacific: Smart Electric Meter Market: Sales Value (in Million US$), 2016 & 2021
Figure 29: Asia-Pacific: Smart Electric Meter Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 30: China: Smart Electric Meter Market: Sales Value (in Million US$), 2016 & 2021
Figure 31: China: Smart Electric Meter Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 32: Japan: Smart Electric Meter Market: Sales Value (in Million US$), 2016 & 2021
Figure 33: Japan: Smart Electric Meter Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 34: India: Smart Electric Meter Market: Sales Value (in Million US$), 2016 & 2021
Figure 35: India: Smart Electric Meter Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 36: South Korea: Smart Electric Meter Market: Sales Value (in Million US$), 2016 & 2021
Figure 37: South Korea: Smart Electric Meter Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 38: Australia: Smart Electric Meter Market: Sales Value (in Million US$), 2016 & 2021
Figure 39: Australia: Smart Electric Meter Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 40: Indonesia: Smart Electric Meter Market: Sales Value (in Million US$), 2016 & 2021
Figure 41: Indonesia: Smart Electric Meter Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 42: Others: Smart Electric Meter Market: Sales Value (in Million US$), 2016 & 2021
Figure 43: Others: Smart Electric Meter Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 44: Europe: Smart Electric Meter Market: Sales Value (in Million US$), 2016 & 2021
Figure 45: Europe: Smart Electric Meter Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 46: Germany: Smart Electric Meter Market: Sales Value (in Million US$), 2016 & 2021
Figure 47: Germany: Smart Electric Meter Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 48: France: Smart Electric Meter Market: Sales Value (in Million US$), 2016 & 2021
Figure 49: France: Smart Electric Meter Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 50: United Kingdom: Smart Electric Meter Market: Sales Value (in Million US$), 2016 & 2021
Figure 51: United Kingdom: Smart Electric Meter Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 52: Italy: Smart Electric Meter Market: Sales Value (in Million US$), 2016 & 2021
Figure 53: Italy: Smart Electric Meter Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 54: Spain: Smart Electric Meter Market: Sales Value (in Million US$), 2016 & 2021
Figure 55: Spain: Smart Electric Meter Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 56: Russia: Smart Electric Meter Market: Sales Value (in Million US$), 2016 & 2021
Figure 57: Russia: Smart Electric Meter Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 58: Others: Smart Electric Meter Market: Sales Value (in Million US$), 2016 & 2021
Figure 59: Others: Smart Electric Meter Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 60: Latin America: Smart Electric Meter Market: Sales Value (in Million US$), 2016 & 2021
Figure 61: Latin America: Smart Electric Meter Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 62: Brazil: Smart Electric Meter Market: Sales Value (in Million US$), 2016 & 2021
Figure 63: Brazil: Smart Electric Meter Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 64: Mexico: Smart Electric Meter Market: Sales Value (in Million US$), 2016 & 2021
Figure 65: Mexico: Smart Electric Meter Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 66: Others: Smart Electric Meter Market: Sales Value (in Million US$), 2016 & 2021
Figure 67: Others: Smart Electric Meter Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 68: Middle East and Africa: Smart Electric Meter Market: Sales Value (in Million US$), 2016 & 2021
Figure 69: Middle East and Africa: Smart Electric Meter Market: Breakup by Country (in %), 2021
Figure 70: Middle East and Africa: Smart Electric Meter Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 71: Global: Smart Electric Meter Industry: SWOT Analysis
Figure 72: Global: Smart Electric Meter Industry: Value Chain Analysis
Figure 73: Global: Smart Electric Meter Industry: Porter's Five Forces Analysis

List of Tables

Table 1: Global: Smart Electric Meter Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Smart Electric Meter Market Forecast: Breakup by Type (in Million US$), 2022-2027
Table 3: Global: Smart Electric Meter Market Forecast: Breakup by Phase (in Million US$), 2022-2027
Table 4: Global: Smart Electric Meter Market Forecast: Breakup by End User (in Million US$), 2022-2027
Table 5: Global: Smart Electric Meter Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 6: Global: Smart Electric Meter Market: Competitive Structure
Table 7: Global: Smart Electric Meter Market: Key Players


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Key Questions Answered in This Report

The global smart electric meter market was valued at US$ 21.45 Billion in 2021.

We expect the global smart electric meter market to exhibit a CAGR of 8.60% during 2022-2027.

The rising demand for remote monitoring and controlling of power grids, along with growing
applications of smart electric meters in tracking real-time updates for electricity while checking their
credit and debt balance, is primarily driving the global smart electric meter market.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent
lockdown regulations across several nations resulting in temporary closure of numerous
manufacturing units for smart electric meters.

Based on the type, the global smart electric meter market has been segmented into Advanced
Metering Infrastructure (AMI) and Automatic Meter Reading (AMR). Currently, Advanced Metering
Infrastructure (AMI) represents the largest market share.

Based on the end user, the global smart electric meter market can be bifurcated into industrial,
commercial, and residential. Among these, 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 smart electric meter market include ABB Ltd., Aclara
Technologies LLC (Hubbell Incorporated), Genus Power Infrastructures Ltd., Holley Technology Ltd.,
Honeywell International Inc., Iskraemeco Group, Itron Inc., Jiangsu Linyang Energy Co. Ltd.,
Landis+Gyr, Microchip Technology Inc., Schneider Electric SE, and Wasion Group.

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