The "Global Smart Meters Market" is anticipated to grow at a CAGR of 9.34%
from 2017 to 2022, to reach a market size of USD 19.98 Billion by 2022. This
growth can be accredited to the rising investments in smart grid projects and cumulative
upgradation of transmission & distribution infrastructure, government
policies, and energy conservation.
The report segments the smart meters market on the basis of technology such
as Advanced Metering Infrastructure (AMI), and Automatic Meter Reading (AMR).
The AMI are anticipated to constitute the fastest growing market from 2017 to
2022 because AMI reduces labour cost and several power, water, & gas
utilities worldwide are replacing AMR with AMI infrastructure, more creating
growth opportunities for the AMI market. The U.S. is the largest market for
AMI.
Globally, residential application accounted for approximately 84% of the
smart meter installations. The demand for smart meters in the residential segment
is driven by factors such as a surge in demand for central systems and smart
end-users (such as nanotechnologies, energy efficient lighting, electric heat
pump, and home control network) appliances.
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Target Audience:
- Electric, water, and gas utilities
- Smart electric, gas, and water manufacturing companies
- Distributed energy generation solution providers
- Smart electric, water, and gas meter vendors
- Government and industry associations
- State and national regulatory authorities
- Distribution grid operators
- Energy regulatory agencies
- Investors and financial community professionals
- State or government-owned corporations
High Scope Regions:
- North America
- South America
- Middle East
- Europe
- Asia-Pacific
- Africa
The smart meters market has been analyzed with respect to six regions,
namely, North America, Europe, Asia-Pacific, South America, Middle East, and
Africa. Asia-Pacific is anticipated to rule the global smart meters market
during the forecast period, owing to the extensive use of these solutions in
the commercial, residential, as well as industrial sector.
Important players in the smart meters market include Itron, Inc. (U.S.), Kamstrup A/S (Denmark), Holley Metering, Ltd. (China), Honeywell International, Inc. (U.S.), and Toshiba Corporation (Japan).
With USD10.8 Billion of opportunity by 2025, Japan smart Homes are growing at a rapid pace. The largest segment which dominates the market share of Smart Home in Japan is Smart Appliances and Home Entertainment segment. In 2011, after the hazardous earthquake in Japan eastern province, the governments were more focused on creating energy efficient smart homes and its related devices. The major driving force of this market is setting up general ECHONET Standard for HEMS devices, free smart home plans as well as government infrastructure assistance.
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