Albany, New York (PRWEB) July 21, 2014
Transparency Market Research’s new report based on "Electricity Meters (Smart Meters) Market For Residential, Commercial and Industrial Applications – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018," discusses the demand for smart electricity meters which was 25 million units in 2011, and is expected to reach over 148 million units in 2018, growing at a CAGR of 18.7% from 2012 to 2018. Considering in terms of revenue, the market was valued at USD 4.0 billion in 2011, and is expected to reach USD 19.8 billion in 2018, growing at a CAGR of 16.5% from 2012 to 2018.
Title: Electricity Meters (Smart Meters) Market
Published: 20 May 2013
Price: US$ 4,595.00 (Single User)
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Electricity meters, also, known as smart meters, have existed for years in the industry. A smart meter is an electronic measuring instrument that transfers data and communications between customers and utility players. It records the detailed data, and also, collects and stores interval data, and interfaces with other devices such as in-home displays, home area networks, smart thermostats and appliances, advanced control systems, and many more. The need for electricity meters as efficient and reliable power distribution setup is feeding the growth opportunities for these meters to spread its wings at both macro and micro levels in different industry verticals. The additional need for extensive power capacity augmentation and improvement of electrical grid networks are essential for the growth of the electricity meters market.
Some of the major applications of smart meters included in the market analysis are found in the residential, commercial, and industrial sectors. Electricity meters used for residential purposes held the largest market share in 2011. Residential applications accounted for over 81% of global smart meter units in 2011 while contributing to only 26.3% of the overall revenue. This trend is expected to continue in the coming years too, whereas, the demand for commercial.
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Electricity meters are on a major rise due to benefits such as fraud detection, peak consumption knowledge, prepayment facilities, and energy savings. These factors are expected to drive the market over the given forecast period. In addition, the growing awareness of controlling electricity usage during peak hours is expected to develop a positive impact in the demand for smart meters. However, on the other hand, consumers have critical concerns regarding the credible security systems due to lack of standardization and privacy issues. Such reasons are expected to deter market growth over the next few years.
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This study report is fairly consolidated in conjunction with top meter and communications vendors that have developed analyzes of the global electricity meters market in terms of new installations by estimating it on the basis of revenue (USD million) and volume (million units). The report includes the top four players accounting for over 60% of the overall demand in 2011. Some of the key participants are namely; Itron, Landis+Gyr, Elster, Sensus, Holley Metering Ltd., General Electric, and Jiangsu Linyang Electronics Co., Ltd. among others.
In terms of geography, North America was the leader in the electricity meters market in 2011 as it successively led the global market with its highest demand and consumption. However, following to North America is the Asia Pacific market. It is expected to be the fastest growing market in the coming years, and is predicted to grow at a CAGR of 20.5% from 2012 to 2018. Due to multiple initiatives undertaken to install smart meters in this region, Asia Pacific is expected to lead the market in terms of demand and revenue in the future.
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