San Francisco, California (PRWEB) February 26, 2014
The global market for smart meters is expected to reach USD 22,177 million by 2020, according to a new study by Grand View Research, Inc. Smart meters provide two-way communication and benefits including time-based rates, faster power outage detection and resolution, and dynamic pricing among others. Initiatives by regulatory authorities to establish smart grids and ensure energy efficiency are expected to be a considerable growth driver over the forecast period.
Benefits of smart meter installations resonate across the value chain, which is also a key driving force for the industry. Customers can potentially cut down costs by lowering peak hour electricity demand; additionally, on-site visits and manual readings can be eliminated. Inconsistencies in deployment on a regional level coupled with lack of standardization in technology are expected to pose a barrier to market growth.
The report “Smart Meters Market Analysis And Segment Forecasts To 2020,” is available now to Grand View Research customers at http://www.grandviewresearch.com/industry-analysis/smart-meters-industry
Further Key findings from the study suggest:
Direct Link For Sample Request of this Report - http://www.grandviewresearch.com/request/166
For the purpose of this study, Grand View Research has segmented the global smart meters market on the basis of application and region:
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About Grand View Research
Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit Grand View Research
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