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The global smart meters market size is expected to reach USD 28.6 billion by 2025, at a CAGR of 6.7% from 2020 to 2025
The global smart meters market size is projected to reach USD 28.6 billion by 2025 from estimated revenue of USD 20.7 billion in 2020, at a CAGR of 6.7% during the forecast period. The growth of the market is attributed to the strong government mandates and demand for real-time consumption pricing, reduced outages, and utility system failures.
“Smart electric meters segment by type is expected to dominate the global smart meters market.”
The electric segment is expected to be the largest market, by type, during the forecast period. The growth is evident owing to the rising demand for highly accurate, fast, and precise, smart electric meters for dynamic pricing and increased billing transparency for consumers across North America, Europe, and Asia Pacific region.
“By communication type, cellular is expected to dominate the smart meters market. “
The cellular segment of the market, by communication type, is estimated to be the largest during the forecast period. The growth is attributed to substantial investments for the development of robust telecommunication infrastructure that can be used for smart meter operations in regions such as North America, Europe, and Asia Pacific. The demand for cellular communication technology is driven further by the need for real-time utility consumption analysis.
“By region, Asia Pacific is expected to lead the smart meters market in terms of value.”
Asia Pacific is the largest market for smart meters globally, followed by North America and Europe. The market is also projected to be the fastest-growing during the forecast period owing to rising investments and planned government smart meter rollout plans in countries such as China, Japan, and India.
Breakdown of Primaries
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
- By Company Type: Tier I–59%, Tier II–26%, and Tier III–15%
- By Designation: C-Level–62%, Director Level–20%, and Others–18%
- By Region: Europe –71%, North America –20%, and Asia Pacific –9%,
Note: Others include sales managers, marketing managers, product managers, and product engineers.
The tier of the companies is defined based on their total revenue as of 2017?Tier 1: USD 1 billion, Tier 2: from USD 1 billion to USD 500 million, and Tier 3:
The global smart meters market is dominated by leading players that have an extensive regional presence. The leading players include Schneider Electric (France), Landis+Gyr (Switzerland), Itron (US), Siemens (Germany), Wasion Group (China), Badger Meter (US), and Sensus (Xylem) (US).
The report defines, describes, and forecasts the smart meters market, by type, communication type, component, technology, and region. It also offers detailed qualitative and quantitative analyses of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include the analysis of the competitive landscape, market dynamics, market estimates, in terms of value, and future trends in the smart meters market.
Key benefits of buying the report:
The report will help market leaders/new entrants in this market in the following ways:
- This report segments the global smart meters market comprehensively and provides the closest approximations of the revenues for the overall market and the sub-segments across different verticals and regions.
The report helps stakeholders understand the pulse of the smart meters and provides them with information on key market drivers, restraints, challenges, and opportunities. This report will help stakeholders to understand competitors better and gain more insights to better their position in their businesses. The competitive landscape section includes the competitor ecosystem, new product development, agreement, and acquisitions.
- The report will help market leaders/new entrants in this market by providing them with the closest approximations of the revenues for the overall smart meters market and the sub-segments.
This report will help stakeholders to understand the competitive landscape and gain more insights and position their businesses and market strategies in a better way. The report will also help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.