Smart Meters Global Market Report 2023: Energy Theft Losses Reinforces the Need for Efficient Smart Metering Technologies

Dublin, June 12, 2023 (GLOBE NEWSWIRE) -- The "Smart Meters - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

Global Smart Meters Market to Reach $50.1 Billion by 2030

In the changed post COVID-19 business landscape, the global market for Smart Meters estimated at US$26.2 Billion in the year 2022, is projected to reach a revised size of US$50.1 Billion by 2030, growing at a CAGR of 8.4% over the analysis period 2022-2030. Electric Smart Meters, one of the segments analyzed in the report, is projected to record a 8.5% CAGR and reach US$27.7 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Smart Water Meters segment is readjusted to a revised 9.7% CAGR for the next 8-year period.

The U.S. Market is Estimated at $3.6 Billion, While China is Forecast to Grow at 9.4% CAGR

The Smart Meters market in the U.S. is estimated at US$3.6 Billion in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of US$15.4 Billion by the year 2030 trailing a CAGR of 9.4% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.9% and 6.7% respectively over the 2022-2030 period. Within Europe, UK is forecast to grow at approximately 6.1% CAGR.

Select Competitors (Total 181 Featured)-

• ABB Ltd.
• Accenture PLC
• Aclara Technologies LLC
• Apator SA (Apator Group)
• Arad Group
• Advanced Electronics Company
• AddGroup
• Aqua-Loc South Africa (Pty) Ltd.
• Aquiba Pty., Ltd.
• Advanced Monitoring Solutions
• AEM SA
• Aidon Oy
• Aichi Tokei Denki Co., Ltd.
• Anhui EMI Technology Co., Ltd.
• AMR-G Smart Water Meters

Key Attributes:

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

• 2020: A Year of Disruption & Transformation
• As the Race between the Virus & Vaccines Intensifies, Where is the World Economy Headed in 2021?
• World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
• Pandemic Causes Significant Disruption to Smart Meters Supply Chain
• COVID-19-Induced Financial Crisis Aggravates an Already Large Global Infrastructure Spending Gap: Government Smart Meter Programs Weaken in 2020
• US Government Budget Deficits (In US$ Billion) for 2007-2022
• Cumulative Global Infrastructure Spending Gap (In US$ Billion) for 2018-2040
• Amidst the Pandemic, Energy Infrastructure Investments Take a Direct Blow
• % Change in Electricity Consumption April 2019 Vs 2020
• % Share of Energy Use Impacted by Lockdowns
• Smart Meters: Welcome Developments Indicating Unabated Progress in Future
• An Introduction to Smart Meters
• Types of Smart Meters
• Why Now is the Time for Smart Meters in a World Where Energy is the Building Block for Socio Economic Development
• Global Market Prospects & Outlook
• Automatic Meter Reading: Leading Technology Segment in Smart Meters Market
• Residential Segment Leads Global Market
• North America Holds Enviable Base of Smart Meters due to Early Mover Advantage
• Smart Meters Witness High Adoption in Europe as Countries Embark on Smart Metering Initiatives
• Asia-Pacific Exudes Tremendous Potential for Adoption of Smart Meters
• Competition
• Smart Electricity Meters Market Share Breakdown by Competitor: 2020
• World Brands
• Recent Market Activity
• Smart Meters - Global Key Competitors Percentage Market Share in 2022 (E)
• Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

• Environmental Concerns, Reduction in Energy Wastage, and Need for Energy Efficiency Drive Adoption of Smart Metering Technology
• Government Policies Drive Smart Meters Adoption
• Energy Theft Losses Reinforces the Need for Efficient Smart Metering Technologies
• Here's Why the Environment & Sustainability Will be Top Priorities After the Pandemic
• How Smart Meters Can Reduce the Carbon Footprint?
• Emerging Trends to Transform Smart Metering Market
• Growing Intelligence of Smart Meters
• Rise of Smart Cities and Focus on Smart Energy Management Opens Up Opportunities for Smart Meters
• At the Core of Smart Cities Are Smart Metering Solutions for Provision of Smart Utility Services: Global Market for Smart Cities in US$ Million for the Years 2020 and 2027
• Smart Electricity Meters: Reliable, User-Friendly, Cost Effective, and Energy Efficient Technology for Power Utilities
• Myriad Benefits of Smart Electricity Meters to Drive Global Adoption
• Spiraling Demand for Electricity and Inefficient Infrastructure Drives Utilities to Deploy Smart Meters
• Supplying Cost-Effective, Reliable Electricity Will Always Be a Priority for Utilities, Making Smart Meters a Valuable Investment: Projected Global Demand for Electricity (MWh) for Years 2025, 2030 & 2035
• Residential Sector Dominates Smart Electricity Meters Market
• Smart Electricity Meters Market by End-Use (in %) for 2020
• Growing Deployments of Smart Grids: A Strong Business Case for Smart Electricity Meters
• Strong Spending on Smart Grids Strengthens Smart Metering Infrastructure Plans: Global Market for Smart Grids in US$ Billion) for the Years 2021, 2023 and 2024
• Smart Electricity Meters Emerge as Vital Components for Efficient Energy Use & Consumption Control in Smart Cities
• Renewable Energy Integration: A Promising Application of Smart Electricity Meters
• Persistent Power Quality Issues Drive the Importance of AMI & Smart Meters in Outage Management Systems & Service Restoration
• Average Number of Power Outages in Firms Per Month Worldwide by Region: 2019
• Cost of Load Failures Due to Power Disruptions/Outages in US$ Per Hour by Select Commercial Activity
• Value Lost Due to Electrical Outages as a Percentage (%) of Sales of Affected Firms
• Smart Electricity Meters Gain Prominence in Distribution Automation
• Government Policies Critical for Smart Electricity Meters Adoption
• Integration of Electric Vehicles and Smart Meters Enable Shift towards Sustainable Economy
• Global Electric Car Registrations Worldwide (in Thousands) for 2015-2020
• Need for Water Utilities to be Energy-Efficient and Responsive Propels Demand for Smart Water Meters
• Global Smart Water Meter Shipments Breakdown (in %) by Basic and Smart Types for 2019, 2022 and 2025
• Unique Challenges Facing Water Utilities Amidst COVID-19 Outbreak Bring Forth the Importance of Technology Solutions
• Growing Prominence of Smart Water Networks Boosts Demand for Smart Water Meters
• Smart Meters Enhance Water Management Efficiency
• With Water Utilities Focused on Increasing Investments in Digital Solutions, Smart Water Meter Adoption Poised to Grow
• Global Digital Utility Market Size (in US$ Billion) for 2018, 2020, 2022 & 2024
• Smart Water Meters: An Important Component of Smart Cities Worldwide
• Evolution of Smart Water Grid Emerges as a Fundamental Factor Driving Penetration of Smart Water Meters
• Innovations in Smart Water Meters Propel Market Growth
• Demand Rises for Two-Way Communicating Meters in Water Industry
• Integrated Digital Water Meters Find Increased Acceptance
• Smart Water Meters to Make Major Contributions to Efficiency Levels in the Agricultural Sector
• Blockchain Technology for Smart Water Meters
• As Gas Utilities Come Under Pressure to Curb Wastages & Ensure Accurate Billing, Smart Gas Metering Solutions Rise in Popularity
• Energy Conservation and Regulatory Mandates Compel Modern Gas Utilities to Switch to Smart Gas Meters
• Utility Modernization & Upgrade Programs Create Highly Conducive Environment for Smart Gas Market
• Residential Vertical Remains the Dominant Segment for Consumer-Grade Smart Gas Meters
• Smart Gas Meters Gain Traction in Commercial & Industrial End-Use Domains
• Wireless Communication Systems Gain Traction in Smart Gas Networks
• Regulations & Standards Drive New Demand for Smart Gas Infrastructure Solutions
• IoT-based Smart Metering to Create Smarter and Connected Cities
• IoT-Based AMI Platform: A Key Building Block of Smart Meter Infrastructure
• Global IoT in Energy Market (In US$ Billion) for the Years 2019, 2021, 2023 & 2026
• Increasing Investments in Smart Home Technology Solutions to Fuel Demand for Smart Meters
• Growing Investments into Smart Homes Stimulate Smart Meters Market: Global Smart Homes Market (In US$ Billion) for the Years 2019, 2021, 2023 & 2025
• LPWANs to Become a Standard Approach in Smart Water Meters
• Big Data Analytics to Provide Actionable Insights from Smart Meters-Generated Data
• AI Presents Immense Opportunities to Tap Smart Meter Data
• Blockchain to Mitigate Data Safety and Privacy Concerns for Smart Meters
• Cloud Computing Transforms Smart Metering Market
• increasing Integration of Cellular Technology in Smart Meters
• Population Growth and Demographics Drive Need for Smart Utility Infrastructure, Supporting Demand for Smart Meters
• World Population (in Thousands) by Geographic Region for the Years 2019, 2030, 2050, 2100
• World Urban Population in Thousands: 1950-2050P
• Key Issues & Challenges Hampering Widespread Adoption of Smart Meters

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

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• Global Market for Smart Meters