Published Date: May 2018 | Report ID: GMI1180 | Authors: Ankit Gupta, Aditya Singh Bais



Report Format: PDF | Pages: 305 | Base Year: 2016

Industry Trends

Smart Metering Systems Market size for 2017 was over USD 10 billion and is projected to surpass an annual installation of 300 million units by 2024.



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Global smart metering systems market will grow owing to regulatory inclination toward the expansion of smart grid network along with flourishing renewable industry. Favourable government led plans along with growing electricity demand across developing regions have marked considerable potential for the metering industry. In 2008, the government of UK mandated the rollout of 53 million smart electric and gas meters across the country by 2020.



Rising public awareness regarding climate changes coupled with stringent government regulations associated with GHG emissions will fuel the market growth. In 2016, the Government of Canada pledged to reduce emissions by 80% below the 2005 level by 2050. The ongoing expansion of microgrid networks along with the rapid development of distributed generation technology will further augment the industry growth.



Smart Metering Systems Market Report Coverage Report Coverage Details Base Year: 2016 Market Size in 2016: 1 Billion (USD) Historical Data for: 2013 to 2017 Forecast Period: 2018 to 2024 Forecast Period 2018 to 2024 CAGR: 10.6% 2024 Value Projection: 9 Billion (USD) Pages: 305 Tables, Charts & Figures: 474 Geographies covered (24): U.S., Canada, Germany, Italy, France, UK, Sweden, Italy, Portugal, Russia, China, Japan, South Korea, India, Australia, UAE, Saudi Arabia, South Africa, Lebanon, Egypt, Mexico, Brazil, Uruguay, Argentina Segments covered: Application, Product, Technology and Region Companies covered (14): Itron, Siemens, Landis+Gyr, Schneider Electric SE, Circutor SA, Iskraemeco, Honeywell Elster, Osaki, Badger Meter, Inc., Neptune Technology Group, Inc., Sensus, Aclara Technologies LLC, ICSA (India) Ltd, Holley Technology LTD Growth Drivers: Favorable government directive

Energy conservation

Workforce management and operational efficiency

Improved customer service and billing accuracy Pitfalls & Challenges: Privacy concerns

Volatile pricing index

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Smart Metering Systems Market, By Technology

Rising inclination toward the adoption of sustainable energy systems primarily across residential establishments will stimulate the AMI smart metering systems market growth. These systems are capable of availing two-way communication that acts as a bridge between consumer and utilities. Increasing adoption of AMI technology across energy utilities to reduce energy shortage, load management and customer service improvement will further boost the product demand.



Relatively lower cost index and ability to transfer energy consumption data from consumer to utility will stimulate the AMR smart metering system market. Remote access, timely billing for shorter installations and immediate fault detection are some of the key features strengthening the product deployment. Growing investments toward smart grid and renewable energy network along with increasing penetration of IT enabled systems will further support the industry growth.



Smart Metering Systems Market, By Application

Residential smart metering systems market is anticipated to grow over 8% by 2024. Introduction of directives and roll out plans toward the replacement of conventional meters will augment the industry landscape. Intelligent meters help the consumers to reduce energy bills by managing their usage more efficiently and facilitating software applications including last captured data to restore the information in case of failures.



Ability to monitor and control the energy flow during the peak demand will drive the utilities smart metering systems market. Operational proficiency to expand capacities for catering to the growing population base along with greater flexibility in energy generation, distribution, and consumption will further favour the business scenario.



Smart Metering Systems Market, By Product

Growing water consumption accompanied by the rapid extension of pipelines will drive the smart water metering systems market. Over the past few years, the demand for intelligent meters has expanded significantly owing to their specific technical ability to monitor the water consumption pattern. In the coming years installation of such systems is anticipated to witness significant momentum due to their widespread utilization across residential establishments.



Rapid urbanization coupled with favourable government reforms to upgrade the distorting small-scale industries across developing nations will stimulate the smart electric metering systems market growth. Integration of reliable energy networks that adhere to the regulatory scenarios including incentives and FIT’s to nourish their adoption will complement the business outlook. Smart electric meters owing to their effective viability across utility-aided transmission networks and large-capacity industrial establishments, possess the majority revenue share.



Smart Metering Systems Market, By Region

Growing measures toward optimizing operational efficiencies across the utilities in response to an overall consumer demand will boost the U.S. smart metering system market. The implementation of such meters will continue to witness a sturdy growth as consumers recognize the economic merits of an accurate and advanced system. The shifting trend toward the digital economy and information society is the substantial factor responsible for the business growth in the region.



UK smart metering systems market is predicted to grow over 8% by 2024. Active regulatory regimes pertaining to energy conservation and environmental sustainability will propel the product penetration. For instance, the government of UK has initiated a program toward the installation of intelligent meters executed by Thames Water to install IT enabled water meters for its customers by 2030. These meters, providing more accurate & real-time consumption information, can largely contribute to efficient energy conservation, thus facilitating the fulfilment of national environmental policies & objectives.



Proactive adoption of advanced technology solutions for streamlined operations along with strong private sector investments will propel the Asia Pacific market growth. Rising urbanization, improved reliability & operations, and theft protection are some of the key factors supporting the industry expansion. The rollout of both non-cellular and cellular connectivity solutions in APAC will facilitate the utilities to integrate smart metering into their organizational workflows.



Competitive Market Share

Notable smart metering systems market participants include Itron, Landis+Gyr, Siemens, Honeywell International, Schneider, Osaki, Neptune Technologies, Badger Meter, Aclara, Kamstrup, Sensus, Iskraemeco, Circutor and Apator.



In January 2016, Honeywell acquired Elster, which specializes in smart meters and data analytics solutions. In addition, Elster manufactures gas meters, pressure control devices, solutions for the gas distribution, and the transmission industry. The acquisition of Elster will extend the technology & product portfolio of Honeywell while reinforcing its global presence.



Smart Metering Systems Industry Background

Smart metering systems include energy meters equipped with IT enabled technologies to facilitate operational flexibility and effectually track associated costs and consumption information. These meters are feasible to modulate and track the usage of water, gas and electricity. Furthermore, the meters are designed to ensure cost benefits and controlled energy usage.



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