Smart Electricity Meter Market in the U.S. to cross US$1 Billion by 2024
SELLBYVILLE, Del., July 12, 2018 /PRNewswire-iReach/ -- According to a latest research report by Global Market Insights, Inc. " Smart Electricity Meter Market is predicted to be valued USD 10 Billion by 2024." Robust implementation of fiscal incentives and government mandates toward the adoption of sustainable technologies will fuel the business growth. Rising concern toward energy conservation along with rapid technological advancements to offer complete integrated metering portfolio with automated data management systems will strengthen the business outlook.
U.S. smart electricity meter market is set to witness robust growth owing to the rising energy prices coupled with shifting focus toward billing accuracy. Significant encouragement by the policymakers and regulators toward the adoption of smart electrical technologies will augment the industry growth. As per the EIA's Residential Energy Consumption Survey in 2015, the adoption of residential smart meters in the U.S. was estimated to be around 40%. Further, it has been analyzed that the electric utilities had installations of more than 70 million AMI units across the country till 2016.
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Increasing acceptance of renewables across the decentralized and centralized grid infrastructure will propel the AMI smart electric meter market share. Several countries have passed distinct legislations mandating the installation of Advanced Metering Infrastructure meters as a part of their energy conservation initiatives. In 2011, the Government of UK designed a policy framework and initiated a rollout strategy toward the adoption of smart meters. The Smart Metering Implementation Programme involves the upgrade and replacement of over 50 million gas and electricity meters by the end of 2020.
Growing measures toward energy efficient products adoption coupled with shifting trends toward digital economy will drive the UK smart electricity meter market. Introduction of stringent emission norms have created competitive business scenario for the leading manufacturers to develop sustainable technologies. The UK Energy Efficiency Directive's Article 9-11 offers rules on devices related to billing information and metering that is required to be provided to the end users.
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Shifting trends toward effective monitoring, utilization, and measurement of resources to limit the overall challenges of energy will fuel the smart electric meter market growth. Monitoring and Metering have been an essential tool for the efficient energy management and measurement. Further, these provide building operators & owners with the information to improve the building energy performance.
In 2017, China accounted for over 70% of the smart electricity meter market share across the Asia Pacific region. Shifting focus toward energy efficient technologies coupled with increasing penetration of smart technologies will complement the industry landscape. In the 13th five-year plan of China, introduced several smart city projects that involves the adoption of smart meters across the electric and water networks.
Buy this industry insights spread across 511 pages with 1044 market data tables & 10 figures & charts from the report, "Smart Electric Meter Market Size By Application (Residential {Single Family, Multi Family}, Commercial {Education, Healthcare, Retail, Logistics & Transportation, Offices, Hospitality}, Utility), By Technology (AMI {RF, PLC, Cellular}, AMR), By Phase (Single Phase, Three Phase) Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Russia, Italy, Sweden, Denmark, Austria, Spain, China, India, Japan, Australia, South Korea, Saudi Arabia, UAE, Oman, Kuwait, Iran, Lebanon, Egypt, South Africa, Nigeria, Brazil, Mexico, Uruguay, Argentina, Chile) Application Potential, Competitive Market Share & Forecast, 2018 – 2024" in detail along with the table of contents:
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Chapter 4 Smart Electricity Meter Market, By Application
4.1 Smart electric meter market share by application, 2017 & 2024
4.2 Residential
4.2.1 Global market from residential, 2013 - 2024
4.2.2 Global market from residential, by region, 2013 - 2024
4.2.3 Single family
4.2.3.1 Global market from single family, 2013 - 2024
4.2.4 Multi family
4.2.4.1 Global market from multi family, 2013 - 2024
4.3 Commercial
4.3.1 Global market from commercial, 2013 - 2024
4.3.2 Global market from commercial, by region, 2013 - 2024
4.3.3 Education
4.3.3.1 Global market from education, 2013 - 2024
4.3.4 Healthcare
4.3.4.1 Global market from healthcare, 2013 - 2024
4.3.5 Retail
4.3.5.1 Global market from retail, 2013 - 2024
4.3.6 Logistics & transportation
4.3.6.1 Global market from logistics & transportation, 2013 - 2024
4.3.7 Offices
4.3.7.1 Global market from offices, 2013 - 2024
4.3.8 Hospitality
4.3.8.1 Global market from hospitality, 2013 - 2024
4.3.9 Others
4.3.9.1 Global market from others, 2013 - 2024
4.4 Utility
4.4.1 Global market from utility, 2013 - 2024
4.4.2 Global market from utility, by region, 2013 - 2024
Browse Full Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/smart-electric-meter-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Media Contact: Jignesh Thakkar, Global Market Insights, Inc., +13028467766, [email protected]
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