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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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