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

Market Overview:

The global smart meters market size reached US$ 20.71 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 35.61 Billion by 2027, exhibiting a growth rate (CAGR) of 9.10% 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.

Smart meters refer to electronic devices that accurately measure and record power consumption data. They consist of a microcontroller, power system, and communications interface. They automatically and wirelessly send actual energy usage to the supplier through radiofrequency (RF) electromagnetic radiation, power line communication, and cellular communication. Smart meters accurately monitor village fluctuations, outage detection, gas, electricity, and water usage. They assist in reducing meter reading costs, removing inefficiencies in billing, preventing disconnection, and reducing emissions. In comparison to traditional meters, smart meters are interactive, multifunctional, aid in recording electricity usage on a daily basis, and enable two-way communication with the utility and the home or business. They are also cost-effective and therefore find widespread application in the residential, commercial and industrial sectors.

Smart Meters Market Trends:

The increasing energy requirement across the globe is one of the key factors driving the growth of the market. In line with this, the rising demand for smart electricity meters for automatic meter reading and bill generation due to the rising concerns regarding power generation and distribution is favoring the market growth. Moreover, various technological advancements, such as the integration of the Internet of Things (IoT), and the rapid utilization of advanced components and control systems to enhance security, protect data, and maximize uptime during emergencies, are providing an impetus to the market growth. Additionally, the widespread product adoption in smart cities for the detection of leakage in supply, detection of theft, and continuous monitoring of gas, water flow, and electricity is positively impacting the market growth. Apart from this, the increasing demand for electricity from renewable energy and the implementation of various government initiatives to replace existing traditional electric meters are creating a positive outlook for the market.

Key Market Segmentation:

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

Breakup by Product:

  • Smart Electricity Meter
  • Smart Water Meter
  • Smart Gas Meter
     

Breakup by Technology:

  • AMI (Advanced Metering Infrastructure)
  • AMR (Automatic Meter Reading)
     

Breakup by End Use:

  • Residential
  • Commercial
  • Industrial
     

Breakup by Region:

  • 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 Aichi Tokei Denki Co. Ltd., Apator SA, Arad Group, Badger Meter Inc., Diehl Stiftung & Co. KG, Holley Technology Ltd., Itron Inc., Landis+Gyr, Neptune Technology Group Inc. (Roper Technologies Inc.), Schneider Electric SE, Sensus USA Inc. (Xylem Inc.), Shenzhen Kaifa Technology Co. Ltd. and Zenner International GmbH & Co. KG.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
    Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Product, 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 Aichi Tokei Denki Co. Ltd., Apator SA, Arad Group, Badger Meter Inc., Diehl Stiftung & Co. KG, Holley Technology Ltd., Itron Inc., Landis+Gyr, Neptune Technology Group Inc. (Roper Technologies Inc.), Schneider Electric SE, Sensus USA Inc. (Xylem Inc.), Shenzhen Kaifa Technology Co. Ltd. and Zenner International GmbH & Co. KG.
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:

  • How has the global smart meters market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the global smart meters market?
  • What are the key regional markets?
  • What is the breakup of the market based on the product?
  • What is the breakup of the market based on the technology?
  • What is the breakup of the market based on the end use?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the global smart meters market and who are the key players?
  • What is the degree of competition in the industry?

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 Meters Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6    Market Breakup by Product
    6.1    Smart Electricity Meter
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Smart Water Meter
        6.2.1 Market Trends
        6.2.2 Market Forecast
    6.3    Smart Gas Meter
        6.3.1 Market Trends
        6.3.2 Market Forecast
7    Market Breakup by Technology
    7.1    AMI (Advanced Metering Infrastructure)
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    AMR (Automatic Meter Reading)
        7.2.1 Market Trends
        7.2.2 Market Forecast
8    Market Breakup by End Use
    8.1    Residential
        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    Industrial
        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    Aichi Tokei Denki Co. Ltd.
           14.3.1.1 Company Overview
           14.3.1.2 Product Portfolio
           14.3.1.3 Financials
        14.3.2    Apator SA
           14.3.2.1 Company Overview
           14.3.2.2 Product Portfolio
           14.3.2.3 Financials
        14.3.3    Arad Group
           14.3.3.1 Company Overview
           14.3.3.2 Product Portfolio
           14.3.3.3 Financials
        14.3.4    Badger Meter Inc.
           14.3.4.1 Company Overview
           14.3.4.2 Product Portfolio
           14.3.4.3 Financials
           14.3.4.4 SWOT Analysis
        14.3.5    Diehl Stiftung & Co. KG
           14.3.5.1 Company Overview
           14.3.5.2 Product Portfolio
        14.3.6    Holley Technology Ltd.
           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    Landis+Gyr 
           14.3.8.1 Company Overview
           14.3.8.2 Product Portfolio
           14.3.8.3 Financials
        14.3.9    Neptune Technology Group Inc. (Roper Technologies Inc.)
           14.3.9.1 Company Overview
           14.3.9.2 Product Portfolio
           14.3.9.3 SWOT Analysis
        14.3.10    Schneider Electric SE
           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    Sensus USA Inc. (Xylem Inc.)
           14.3.11.1 Company Overview
           14.3.11.2 Product Portfolio
           14.3.11.3 SWOT Analysis
        14.3.12    Shenzhen Kaifa Technology Co. Ltd.
           14.3.12.1 Company Overview
           14.3.12.2 Product Portfolio
           14.3.12.3 Financials
           14.3.12.4 SWOT Analysis
        14.3.13    Zenner International GmbH & Co. KG
           14.3.13.1 Company Overview
           14.3.13.2 Product Portfolio

List of Figures

Figure 1: Global: Smart Meters Market: Major Drivers and Challenges
Figure 2: Global: Smart Meters Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Smart Meters Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: Global: Smart Meters Market: Breakup by Product (in %), 2021
Figure 5: Global: Smart Meters Market: Breakup by Technology (in %), 2021
Figure 6: Global: Smart Meters Market: Breakup by End Use (in %), 2021
Figure 7: Global: Smart Meters Market: Breakup by Region (in %), 2021
Figure 8: Global: Smart Meters (Smart Electricity Meter) Market: Sales Value (in Million US$), 2016 & 2021
Figure 9: Global: Smart Meters (Smart Electricity Meter) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 10: Global: Smart Meters (Smart Water Meter) Market: Sales Value (in Million US$), 2016 & 2021
Figure 11: Global: Smart Meters (Smart Water Meter) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 12: Global: Smart Meters (Smart Gas Meter) Market: Sales Value (in Million US$), 2016 & 2021
Figure 13: Global: Smart Meters (Smart Gas Meter) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 14: Global: Smart Meters (AMI (Advanced Metering Infrastructure)) Market: Sales Value (in Million US$), 2016 & 2021
Figure 15: Global: Smart Meters (AMI (Advanced Metering Infrastructure)) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 16: Global: Smart Meters (AMR (Automatic Meter Reading)) Market: Sales Value (in Million US$), 2016 & 2021
Figure 17: Global: Smart Meters (AMR (Automatic Meter Reading)) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 18: Global: Smart Meters (Residential) Market: Sales Value (in Million US$), 2016 & 2021
Figure 19: Global: Smart Meters (Residential) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 20: Global: Smart Meters (Commercial) Market: Sales Value (in Million US$), 2016 & 2021
Figure 21: Global: Smart Meters (Commercial) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 22: Global: Smart Meters (Industrial) Market: Sales Value (in Million US$), 2016 & 2021
Figure 23: Global: Smart Meters (Industrial) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 24: North America: Smart Meters Market: Sales Value (in Million US$), 2016 & 2021
Figure 25: North America: Smart Meters Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 26: United States: Smart Meters Market: Sales Value (in Million US$), 2016 & 2021
Figure 27: United States: Smart Meters Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 28: Canada: Smart Meters Market: Sales Value (in Million US$), 2016 & 2021
Figure 29: Canada: Smart Meters Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 30: Asia-Pacific: Smart Meters Market: Sales Value (in Million US$), 2016 & 2021
Figure 31: Asia-Pacific: Smart Meters Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 32: China: Smart Meters Market: Sales Value (in Million US$), 2016 & 2021
Figure 33: China: Smart Meters Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 34: Japan: Smart Meters Market: Sales Value (in Million US$), 2016 & 2021
Figure 35: Japan: Smart Meters Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 36: India: Smart Meters Market: Sales Value (in Million US$), 2016 & 2021
Figure 37: India: Smart Meters Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 38: South Korea: Smart Meters Market: Sales Value (in Million US$), 2016 & 2021
Figure 39: South Korea: Smart Meters Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 40: Australia: Smart Meters Market: Sales Value (in Million US$), 2016 & 2021
Figure 41: Australia: Smart Meters Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 42: Indonesia: Smart Meters Market: Sales Value (in Million US$), 2016 & 2021
Figure 43: Indonesia: Smart Meters Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 44: Others: Smart Meters Market: Sales Value (in Million US$), 2016 & 2021
Figure 45: Others: Smart Meters Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 46: Europe: Smart Meters Market: Sales Value (in Million US$), 2016 & 2021
Figure 47: Europe: Smart Meters Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 48: Germany: Smart Meters Market: Sales Value (in Million US$), 2016 & 2021
Figure 49: Germany: Smart Meters Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 50: France: Smart Meters Market: Sales Value (in Million US$), 2016 & 2021
Figure 51: France: Smart Meters Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 52: United Kingdom: Smart Meters Market: Sales Value (in Million US$), 2016 & 2021
Figure 53: United Kingdom: Smart Meters Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 54: Italy: Smart Meters Market: Sales Value (in Million US$), 2016 & 2021
Figure 55: Italy: Smart Meters Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 56: Spain: Smart Meters Market: Sales Value (in Million US$), 2016 & 2021
Figure 57: Spain: Smart Meters Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 58: Russia: Smart Meters Market: Sales Value (in Million US$), 2016 & 2021
Figure 59: Russia: Smart Meters Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 60: Others: Smart Meters Market: Sales Value (in Million US$), 2016 & 2021
Figure 61: Others: Smart Meters Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 62: Latin America: Smart Meters Market: Sales Value (in Million US$), 2016 & 2021
Figure 63: Latin America: Smart Meters Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 64: Brazil: Smart Meters Market: Sales Value (in Million US$), 2016 & 2021
Figure 65: Brazil: Smart Meters Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 66: Mexico: Smart Meters Market: Sales Value (in Million US$), 2016 & 2021
Figure 67: Mexico: Smart Meters Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 68: Others: Smart Meters Market: Sales Value (in Million US$), 2016 & 2021
Figure 69: Others: Smart Meters Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 70: Middle East and Africa: Smart Meters Market: Sales Value (in Million US$), 2016 & 2021
Figure 71: Middle East and Africa: Smart Meters Market: Breakup by Country (in %), 2021
Figure 72: Middle East and Africa: Smart Meters Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 73: Global: Smart Meters Industry: SWOT Analysis
Figure 74: Global: Smart Meters Industry: Value Chain Analysis
Figure 75: Global: Smart Meters Industry: Porter's Five Forces Analysis

List of Tables

Table 1: Global: Smart Meters Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Smart Meters Market Forecast: Breakup by Product (in Million US$), 2022-2027
Table 3: Global: Smart Meters Market Forecast: Breakup by Technology (in Million US$), 2022-2027
Table 4: Global: Smart Meters Market Forecast: Breakup by End Use (in Million US$), 2022-2027
Table 5: Global: Smart Meters Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 6: Global: Smart Meters Market: Competitive Structure
Table 7: Global: Smart Meters Market: Key Players


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