Dublin, Jan. 26, 2024 (GLOBE NEWSWIRE) -- The "Smart Electric Meter Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The smart electric meter market witnessed a robust size of $21.38 billion in 2023 and is projected to escalate to $22.98 billion in 2024, marking a Compound Annual Growth Rate (CAGR) of 7.5%. This growth is propelled by various drivers, such as governmental mandates, technological advancements, and initiatives aimed at modernizing grid infrastructure, amongst others.
The report forecasts continued market expansion, predicting a value of $31.64 billion by 2028 at a CAGR of 8.3%. This anticipated growth is supported by the integration of renewable energy sources, the rise of DERs, and advancements in metering technologies that drive efficiency and customer service.
The global smart electric meter market is undergoing rapid advancements and significant growth, especially in the Asia-Pacific region. A newly published market research report provides an in-depth analysis of the smart electric meter industry, showcasing the market's current state, future projections, and potential high-growth areas. This comprehensive research is now accessible on our leading industry analysis platform, offering a thorough overview of the market dynamics.
Market Segmentation and Geographic Insights
The analysis explores key market segments, including advanced metering infrastructure and automatic meter reading technologies. The report emphasizes the operational benefits of smart electric meters, such as enhanced billing accuracy and the facilitation of energy conservation efforts. The research also covers multiple applications of smart meters across residential, commercial, and utility sectors.
Moreover, the detailed regional analysis points to Asia-Pacific as the highest revenue-generating area within the smart electric meter market, with North America predicted to experience substantial growth through the forecast period. The report provides a granular breakdown of the smart electric meter landscape across various geographies, including emerging economies and developed regions.
Key Market Trends and Future Outlook Trends Fueling the Smart Electric Meter Market:
- Integration of renewable energy and distributed energy resources (DERs)
- Expansion of electric vehicle charging points
- Adoption of edge computing in the energy sector
- Advancements in the Internet of Things (IoT) for energy management
- Energy data analytics to optimize consumption patterns
Strategic Developments and Competitive Landscape
The smart electric meter market landscape is experiencing strategic acquisitions and technological innovation. The report examines recent industry movements, including the acquisition of key industry players and the release of innovative product offerings aimed at improving customer service and operational efficiency.
In-depth company profiles of major market contributors offer insights into strategic initiatives and market presence. This analysis serves as a valuable tool for stakeholders, investors, and participants aiming to understand the competitive dynamics and growth strategies within the smart electric meter industry.
A selection of companies mentioned in this report includes
- Itron Inc.
- Landis+Gyr Group AG
- Schneider Electric SE
- Siemens AG
- Honeywell International Inc.
- Aclara Technologies LLC
- EDMI Limited
- Enel S.p.A.
- Kamstrup A/S
- Sensus Inc.
- Wasion International Ltd.
- ABB Ltd.
- Sagemcom Ltd.
- Microchip Technology Inc.
- General Electric Company
- Holley Technology Ltd.
- Elster Group SE
- Iskraemeco D.D.
- Jiangsu Linyang Energy Co. Ltd.
- Hexing Electrical Co. Ltd.
- Networked Energy Services Corporation
- Pietro Fiorentini s.p.a.
- Secure Meters Limited
- B METERS Srl
- Jabil Inc.
- Diehl Stiftung & Co. KG
- ZENNER Aquamet India Pvt. Ltd.
- Badger Meter Inc.
- Mueller Systems LLC
- Neptune Technology Group Inc.
- Tata Power Delhi Distribution Company
For more information about this report visit https://www.researchandmarkets.com/r/f876qj
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