Smart Meters Market Smart Meters Market is expected to grow at a CAGR of 6.7%. Smart Meters Market and Top Companies Key market players profiled in the smart meters market report include: Schneider Electric (France)

Landis+Gyr (Switzerland)

Itron (US)

Siemens (Germany)

Wasion Group (China)

Badger Meter (US)

Sensus (Xylem) (US)

Honeywell International (US)

Larsen & Toubro (India)

Kamstrup (Denmark)

Schneider Electric (France)- Schneider Electric is a manufacturer of electrical equipment. The company�s key business focus is the digital transformation of energy management and automation for homes, data centers, buildings, industries, and infrastructure. The company has two major business segments, namely, Energy Management and Industrial Automation. The Energy Management segment is further divided into Low Voltage, Medium Voltage, and Secure Power businesses.

Schneider Electric is a manufacturer of electrical equipment. The company�s key business focus is the digital transformation of energy management and automation for homes, data centers, buildings, industries, and infrastructure. The company has two major business segments, namely, Energy Management and Industrial Automation. The Energy Management segment is further divided into Low Voltage, Medium Voltage, and Secure Power businesses. Landis+Gyr (Switzerland)- Landis+Gyr is a manufacturer of metering solutions for residential, commercial, and industrial end users. It provides smart electric meters, smart gas meters, and smart water meters. The company has three key strategic business platforms: Smart Metering, Grid Edge Intelligence, and Smart Infrastructure. Landis+Gyr also provides the software solution Gridstream for smart meters operation. The software�s key functions include integrating communication technologies and providing real-time data analysis.

Landis+Gyr is a manufacturer of metering solutions for residential, commercial, and industrial end users. It provides smart electric meters, smart gas meters, and smart water meters. The company has three key strategic business platforms: Smart Metering, Grid Edge Intelligence, and Smart Infrastructure. Landis+Gyr also provides the software solution Gridstream for smart meters operation. The software�s key functions include integrating communication technologies and providing real-time data analysis. Itron (US)- Itron is a solution provider for communicating, collecting, and analyzing electric, gas, and water usage data. The company is a manufacturer and designer of Automatic Meter Reading (AMR) systems and computer based electronic meter reading. The company operates in three business segments, namely, Device Solutions, Networked Solutions, and Outcomes. The company offers smart meters under the Networked Solutions segment and the smart meter analytics offerings and meter data management in the Outcomes segment.

Itron is a solution provider for communicating, collecting, and analyzing electric, gas, and water usage data. The company is a manufacturer and designer of Automatic Meter Reading (AMR) systems and computer based electronic meter reading. The company operates in three business segments, namely, Device Solutions, Networked Solutions, and Outcomes. The company offers smart meters under the Networked Solutions segment and the smart meter analytics offerings and meter data management in the Outcomes segment. Siemens (Germany)- Siemens is a manufacturer of engineering solutions for automation and control, power, transportation, and medical diagnosis. The company�s key focus is intelligent infrastructure for distributed energy systems and buildings, digitalization and automation in the manufacturing and process industries, power distribution, conventional and renewable power generation, smart mobility solutions for road and rail, digital healthcare services, and medical technology. Siemens operates in six business segments, such as Digital Industries, Smart Infrastructure, Gas and Power, Mobility, Siemens Healthineers, and Siemens Gamesa Renewable Energy. Smart meter offerings of the company fall under its Smart Infrastructure business segment.

Siemens is a manufacturer of engineering solutions for automation and control, power, transportation, and medical diagnosis. The company�s key focus is intelligent infrastructure for distributed energy systems and buildings, digitalization and automation in the manufacturing and process industries, power distribution, conventional and renewable power generation, smart mobility solutions for road and rail, digital healthcare services, and medical technology. Siemens operates in six business segments, such as Digital Industries, Smart Infrastructure, Gas and Power, Mobility, Siemens Healthineers, and Siemens Gamesa Renewable Energy. Smart meter offerings of the company fall under its Smart Infrastructure business segment. Wasion Group (China)- Wasion Group is a manufacturer and distributor of energy measurement instruments. The company provides electric energy meters, smart water meters, gas meters, remote automatic meter reading equipment, energy monitoring devices, ultrasonic heat meters, and other products. The company operates in three business segments, namely, Power Advanced Metering Infrastructure, Communication and Fluid Advanced Metering Infrastructure, and Advanced Distribution Operations. Wasion Group provides smart meter under power advanced metering infrastructure. The company also provides power quality monitoring devices, load management terminals, and user management devices.

Wasion Group is a manufacturer and distributor of energy measurement instruments. The company provides electric energy meters, smart water meters, gas meters, remote automatic meter reading equipment, energy monitoring devices, ultrasonic heat meters, and other products. The company operates in three business segments, namely, Power Advanced Metering Infrastructure, Communication and Fluid Advanced Metering Infrastructure, and Advanced Distribution Operations. Wasion Group provides smart meter under power advanced metering infrastructure. The company also provides power quality monitoring devices, load management terminals, and user management devices. Badger Meter (US)- Badger Meter is a manufacturer of equipment for measuring the flow of gases and liquids in a variety of applications. The company offers industrial process meters, water meters and associated systems, wastewater meters, natural gas instruments, small valves, and automotive fluid meters. The company operates in two business segments, namely, Municipal Water and Flow Instrumentation. The company offers complete water metering solutions, including mechanical or static (ultrasonic) water meters, along with the related radio and software technologies and services.

Badger Meter is a manufacturer of equipment for measuring the flow of gases and liquids in a variety of applications. The company offers industrial process meters, water meters and associated systems, wastewater meters, natural gas instruments, small valves, and automotive fluid meters. The company operates in two business segments, namely, Municipal Water and Flow Instrumentation. The company offers complete water metering solutions, including mechanical or static (ultrasonic) water meters, along with the related radio and software technologies and services. Sensus (Xylem) (US)- Sensus (Xylem) is a provider of metering product technology and utility infrastructure systems. The company is a distributor of a wide range of industrial, commercial, cooling, heating, and residential meters. The company operates in three business segments, namely, Water Infrastructure, Applied Water, and Measurement & Control Solutions. Sensus provides smart meter products under its Measurement & Control Solutions segment. Along with smart meter products, it also provides test and software under the Measurement & Control Solutions segment.

Sensus (Xylem) is a provider of metering product technology and utility infrastructure systems. The company is a distributor of a wide range of industrial, commercial, cooling, heating, and residential meters. The company operates in three business segments, namely, Water Infrastructure, Applied Water, and Measurement & Control Solutions. Sensus provides smart meter products under its Measurement & Control Solutions segment. Along with smart meter products, it also provides test and software under the Measurement & Control Solutions segment. Honeywell International (US)- Honeywell International provides security and sensing technologies for commercial buildings, aerospace services and products, productivity and safety solutions, advanced materials, and energy efficient solutions and products. Elster Group, a wholly owned subsidiary of Honeywell, is one of the well-established providers of gas, electricity, and water meters, and related communication, network, and software solutions. The company operates in four business segments, namely, Aerospace, Building Technologies, Performance Materials and Technologies, and Safety and Productivity Solutions.

Honeywell International provides security and sensing technologies for commercial buildings, aerospace services and products, productivity and safety solutions, advanced materials, and energy efficient solutions and products. Elster Group, a wholly owned subsidiary of Honeywell, is one of the well-established providers of gas, electricity, and water meters, and related communication, network, and software solutions. The company operates in four business segments, namely, Aerospace, Building Technologies, Performance Materials and Technologies, and Safety and Productivity Solutions. Larsen & Toubro (India)- Larsen & Toubro manufactures engineering equipment and undertakes wide ranging engineering projects. The company provides products such as switchgears, feed milling plants, food processing machinery, dairy machinery, road rollers, bulldozers, and chemical and pharmaceutical plants. The company operates in 10 business segments, namely, Infrastructure, Power, Heavy Engineering, Defence Engineering, Electrical & Automation, Hydrocarbon, IT & Technology Services, Financial Services, Developmental Projects, and Others.

Larsen & Toubro manufactures engineering equipment and undertakes wide ranging engineering projects. The company provides products such as switchgears, feed milling plants, food processing machinery, dairy machinery, road rollers, bulldozers, and chemical and pharmaceutical plants. The company operates in 10 business segments, namely, Infrastructure, Power, Heavy Engineering, Defence Engineering, Electrical & Automation, Hydrocarbon, IT & Technology Services, Financial Services, Developmental Projects, and Others. Kamstrup (Denmark)- Kamstrup is a systems solution manufacturer for energy metering and is a key player in the smart water meters industry. The principal business activities of the company are production, sales, and installation of smart energy and water meters, relating reading systems, and data analysis tools and services. The company operates in two business segments, namely, System & Service and Components. The company invests in R&D activities for enhancing its product portfolio with an aim to meet the current demand and expectations of the smart metering industry.

Smart Meters Market and Top End-user Industries Top end-user industries in smart meters market are: Residential

Commercial

Industrial

Residential- It comprises all households, including individual houses and apartment buildings. The demand for smart meters from the residential sector is driven by the increasing power consumption due to the increased use of home appliances such as air conditioners, televisions, lighting, refrigerators, ceiling fans, cloth washers, dish washers, personal computers, and heating and air-conditioning equipment at residential buildings.

It comprises all households, including individual houses and apartment buildings. The demand for smart meters from the residential sector is driven by the increasing power consumption due to the increased use of home appliances such as air conditioners, televisions, lighting, refrigerators, ceiling fans, cloth washers, dish washers, personal computers, and heating and air-conditioning equipment at residential buildings. Commercial- The smart meter market in the commercial sector is being driven largely by the expansion and development of commercial facilities. Commercial end user segment comprises non-residential facilities, including offices buildings, stores, municipal buildings, data centers, schools, religious centers, gymnasiums, libraries, museums, warehouses, medical centers, hotels, malls, airports, warehouses, and garages.

The smart meter market in the commercial sector is being driven largely by the expansion and development of commercial facilities. Commercial end user segment comprises non-residential facilities, including offices buildings, stores, municipal buildings, data centers, schools, religious centers, gymnasiums, libraries, museums, warehouses, medical centers, hotels, malls, airports, warehouses, and garages. Industrial- Industrial end users include industrial facilities that manufacture food, paper and pulp, chemicals, iron and steel, nonferrous metal; gas utilities; water utilities; and refining, mining, and construction facilities. The industrial sector offers good opportunities for the smart meters market as most of the industrial end users rely on continuous power and water supply.

Smart Meters Market and Top Technologies Top technologies in smart meters market are: AMI

AMR

AMI- AMI enables the gathering and transfer of energy and utility usage information in near real-time. AMI technology smart meters are the backbone of smart grid projects, and the increasing spending on smart grid projects acts as a key driver for the AMI smart meter technology. Smart meters based on AMI technology comprise various hardware and software components, all of which play a role in measuring energy consumption and transmitting information about energy, water, and gas usage to utility companies and customers.

AMI enables the gathering and transfer of energy and utility usage information in near real-time. AMI technology smart meters are the backbone of smart grid projects, and the increasing spending on smart grid projects acts as a key driver for the AMI smart meter technology. Smart meters based on AMI technology comprise various hardware and software components, all of which play a role in measuring energy consumption and transmitting information about energy, water, and gas usage to utility companies and customers. AMR- AMR metering technology collects consumption data from smart meters and transfers it to a central database at the utility station for billing purposes. This technology can be used for one-way communication only. It is a conventional smart metering technology and, hence, is used worldwide.

Smart Meters Market by Type Top type in smart meters market are: Smart Electric Meters

Smart Gas Meters

Smart Water Meters

Smart Electric Meters- Smart electric meter measures a consumer�s electricity consumption and enables two-way communication between the meter and the central system of the power utility. It records consumption of electric energy in intervals of usually an hour and communicates this information back to the utility for billing and monitoring purposes.

Smart electric meter measures a consumer�s electricity consumption and enables two-way communication between the meter and the central system of the power utility. It records consumption of electric energy in intervals of usually an hour and communicates this information back to the utility for billing and monitoring purposes. Smart Gas Meters- Like a smart electric meter, a smart gas meter is an equipment for measuring the amount of gas consumed at home, building, and industrial facilities. These smart meters use communication network to automatically transmit the signal with the gas utilities on an hourly or daily basis, which helps in improving the accuracy of bills, increasing energy efficiency, and reducing fuel poverty.

Like a smart electric meter, a smart gas meter is an equipment for measuring the amount of gas consumed at home, building, and industrial facilities. These smart meters use communication network to automatically transmit the signal with the gas utilities on an hourly or daily basis, which helps in improving the accuracy of bills, increasing energy efficiency, and reducing fuel poverty. Smart Water Meters - Smart water meter is a measuring device that optimizes various operations such as measuring the water consumption data and transmitting the data through communication networks, either radio channels or ethernet or other wireless media for billing purposes. In addition, smart water meters are used for monitoring pressure, leakage, and wastage with the help of inbuilt sensors; and carrying out other data analysis.

Smart Meters Market and Top Communication Type Top communication type in smart meters market are: RF

PLC

Cellular

RF- RF is the communication technology whose frequencies lie in the range of 20 kHz to 300 GHz. Typically, these are used in radio communications. Smart meters use low-energy radio frequency waves to transmit information over longer distances. Long-range systems reduce the cost of deployments as fewer RF signal concentrators are required to serve the same number of smart meters.

RF is the communication technology whose frequencies lie in the range of 20 kHz to 300 GHz. Typically, these are used in radio communications. Smart meters use low-energy radio frequency waves to transmit information over longer distances. Long-range systems reduce the cost of deployments as fewer RF signal concentrators are required to serve the same number of smart meters. PLC- PLC is a communication technology that uses electrical wiring to simultaneously transmit both data and electric power without any interference as both are at different frequencies. PLC is a stable, reliable, and well-known technology and is being used for many years for home automation and electrical grid application, especially in Europe.

PLC is a communication technology that uses electrical wiring to simultaneously transmit both data and electric power without any interference as both are at different frequencies. PLC is a stable, reliable, and well-known technology and is being used for many years for home automation and electrical grid application, especially in Europe. Cellular- Smart meters use cellular-based communication technology such as GPRS or 3G/4G network for operations. The technology has advantages such as quick service, low investment cost, and good performance. This is best fit in the regions where the PLC or RF mesh solutions are either inaccessible or too expensive.

Smart Meters Market and Top Component Type Top component type in smart meters market are: Hardware

Software

Hardware- Smart meter hardware includes power sources, microcontroller units, and communication modules. Manufacturers are increasingly aiming to design hardware components with a high level of system integration and simplified design to keep the smart meters compact and cost efficient.

Smart meter hardware includes power sources, microcontroller units, and communication modules. Manufacturers are increasingly aiming to design hardware components with a high level of system integration and simplified design to keep the smart meters compact and cost efficient. Software- The critical software components of smart meters include the Customer Information System (CIS), Meter Data Management System (MDMS), and metering and billing software. Software help in managing the operations of smart meters once deployed by the utilities. Smart meter software help in identifying abnormal utility consumption patterns and accurate billing calculation of consumers.

[180 Pages Report] The global smart meters market size is expected to grow from estimated revenue of USD 20.7 billion in 2020 to USD 28.6 billion by 2025, at a CAGR of 6.7%. This growth is attributed to the government mandate and support policies for smart meter installation across end-use sectors such as residential, commercial, and industrial.

The smart electric segment is projected to have the largest share of the smart meters market during the forecast period

The smart meters market is segmented, by type, into smart electric, smart gas, and smart water meters. The smart electric segment accounted for the largest market share in 2019, driven by the growing emphasis on dynamic pricing and integration of growing DER into the existing power system operations in regions such as North America, Europe, and Asia Pacific. The future growth of the segment can be attributed to increasing demand for highly accurate and precise measurement of utility consumption data for consumers across end-users such as residential, commercial, and industrial sectors.

The cellular segment is expected to be the fastest-growing market, by communication type, during the forecast period

The communication type segment of the smart meters market is segmented into RF, PLC, and Cellular. Cellular expected to register the highest growth rate during the forecast period. The growth of the cellular communication type is attributed to the availability of robust telecommunication infrastructure for smart meter operations across regions such as Europe and North America. In addition, the use of cellular communication reduces the operational cost for utilities in implementing smart meter projects.

The residential segment is expected to be the fastest-growing market segment in the smart meters industry, by end-user, during the forecast period

The smart meters market is segmented, by end-user, into residential, commercial, and industrial. The residential sector is projected to grow at the fastest rate during the forecast period. The increasing power consumption drives the smart meter growth rate in the sector among residential consumers due to technological and economic advancements and the growing government support for mandatory smart meter rollout projects in the sector.

Asia Pacific is expected to be the largest market during the forecast period

The market is segmented, by region, into North America, South America, Europe, Asia Pacific, and Middle East & Africa. Of these, Asia Pacific is the largest smart meters market in the world, predominantly due to China, and the trend is expected to be the same during the forecast period. The market in the region is driven by the growing emphasis to reduce carbon emissions from utility operations and effectively integrate DER such as solar and wind power for enhanced power sector operations.

Key Market Players

The major players in the global smart meters market are Schneider Electric (France), Landis+Gyr (Switzerland), Itron (US), Siemens (Germany), Wasion Group (China), Badger Meter (US), and Sensus (Xylem) (US).

Landis+Gyr (US) is a manufacturer of metering solutions for residential, commercial, and industrial end-users. It provides smart electric meters, smart gas meters, and smart water meters. The smart meters offered by the company broadly encompass hardware and software. Hardware products include smart electric meters, while software products help in integrating communication technologies and providing real-time data analysis. The company caters to various end-users such as residential, commercial, and industrial. The company has a presence in the Americas, Europe, Middle East, Africa, and Asia Pacific.

Another major player in the market is Itron (US). The company has a strong product portfolio for smart electric meters with RF and cellular communication for AMI technology operations. The products cater to end-user segments, including residential, commercial, and industrial.

Scope of the Report

Report Metric Details Market size available for years 2018�2025 Base year considered 2019 Forecast period 2020�2025 Forecast units USD Million Segments covered By Type, By Communication type, By Component, By Technology, By End-User, and By Region Geographies covered North America, Europe, Asia Pacific, Middle East & Africa, and South America Companies covered Schneider Electric (France), Landis+Gyr (Switzerland), Itron (US), Siemens (Germany), Wasion Group (China), Badger Meter (US), and Sensus (Xylem) (US).

This research report categorizes the smart meters market by type, by communication type, by component type, by technology, by end-user, and region.

By Type

Electric

Gas

Water

By Communication Type

RF

PLC

Cellular

By Component Type

Hardware

Software

By Technology Type

AMI

AMR

By End-User

Residential

Commercial

Industrial

By Region

North America

South America

Europe

Asia Pacific

Middle East & Africa

Recent Developments

In January 2020, Landis+Gyr introduced Revelo electric meters with advanced grid sensing technology.

In January 2020, Itron launched a 4G LTE smart metering solution that provides broad territory coverage, low latency, and network longevity using 4G LTE technology.

In March 2019, Wasion Group won a contract with Guizhou Power Grid Corporation to deliver items such as communications and terminal products, smart meters, and smart power solutions.

Key Questions Addressed by the Report

What are the industry trends that would be seen over the next five years?

Which of the smart meters elements is likely to lead by 2025?

Which of the end-user segments is expected to have the maximum opportunity to grow during the forecast period?

Which would be the leading region with the highest smart meters market share by 2025?

How are companies implementing organic and inorganic strategies to gain increased market share?

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