Smart Electricity Meters: A Global Strategic Business Report
San Jose, California (PRWEB) June 03, 2015
Follow us on LinkedIn – Smart electricity meters have emerged as an effective tool to flawlessly address various power transmission and distribution (T&D) needs in a simple and flexible manner. Smart electricity meters are specially designed electronic measurement devices that automatically capture energy consumption patterns of a utility customer and seamlessly communicate the same for reliable and accurate billing. Smart electricity meters also deliver several other advantages to utilities such as identifying and responding to power outages, preventing energy thefts, launching innovative service models, implementing new & innovative tariff schemes, remotely activating & deactivating subscriptions, and facilitating secured communication & hacking identification, among others. The utility end-customers on the other hand benefit from smart meters in terms of efficient management of electricity usage & reduced costs, multiple payment options, remote access to energy usage information, and real-time interaction with utility service departments, among others.
Widely acknowledged as the gateway to the smart grid, smart electricity meter deployments are expected to significantly increase in line with the growth in smart grid projects worldwide. Future growth will also be driven by strong penetration in areas such as distribution automation (DA) and renewable energy integration to enhance the T&D operations of the smart grid. Other factors poised to benefit market prospects in the near term include the growing importance of smart electricity meters in enabling home energy efficiency; the upcoming ‘Smart City’ phenomenon that is expected to generate large-scale demand for these smart devices; favourable government policies; increasing penetration of Advanced Metering Infrastructure (AMI) in electric utilities worldwide; and the increasing role of ‘Cloud’ services in smart metering operations.
As stated by the new market research report on Smart Electricity Meters, Asia-Pacific represents the largest market worldwide supported by China. The country emerged as the largest market, spurred by the huge appetite for electricity, resulting from a decade of robust GDP growth and rapid industrialization. China has the highest penetration of smart electricity meters with more than 67% households equipped with these devices. The country is expected to achieve 100% deployment of smart electricity meters before 2020, thus benefiting market expansion in the region. In addition to widening their presence in respective local markets, smart meter manufacturers from China, India, South Korea and Singapore are regularly participating in bidding programs for government projects in overseas markets including Europe and the US on the strength of their high-quality yet low-priced products. Japan represents the fastest growing market worldwide registering a CAGR of 45.2% over the analysis period.
Key players covered in the report include Atos SE, Cyan Holdings plc, Diehl Metering GmbH, Enel, EDMI Limited, Elster Group GmbH, GE Digital Energy, Holley Metering Limited, Iskraemeco (UK) Ltd., Itron Inc., Kamstrup, LINYANG Electronics Co. Ltd., Master Meter Systems LLC, Ningbo Sanxing Electric Co. Ltd., S&T Group, Networked Energy Services Corporation (NES), Schneider Electric SA, Sensus, Siemens AG, Silver Spring Networks, Tantalus Systems Inc., Landis+Gyr, Trilliant Holdings Inc., and Wasion Group Limited, among others.
The research report titled “Smart Electricity Meters: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections for major geographic markets including the US, Canada, Japan, Europe (France, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, and Rest of Asia-Pacific), Middle East, and Latin America (Brazil, and Rest of Latin America).
For more details about this comprehensive market research report, please click here
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