The Smart Electricity Meters are substituting traditional electricity meters. Smart electricity meters simplify the in-line communication of electricity suppliers with customer’s electricity meters eradicating the manual intervention in meter readings. Smart Electricity meters deliver the consumers with a precise real time data of their energy consumption whilst rendering a higher control over electricity consumption. The smart electricity meters also support the consumer in choosing tariff plans tailored to fit their energy ingesting.
According to the report analysis, ‘Global Smart Electricity Meters Market 2020-2027 by Component (Hardware, Software), Technology (AMR, AMI), Communication Type (Cellular, RF, PLC), Phase (GISM, GIST, GISS), Precision (0.25S, 0.2S, 0.5S), End Use (Residential, Commercial, Industrial), and Region: Trend Outlook and Growth Opportunity’ states that Aclara Technologies, EDMI Limited, Elster Group GmbH (Honeywell International Inc.), Hexing Electric Company, Holley Technology Ltd (Zhejiang Huamei Holding Co. Ltd), Itron Inc., Jiangsu Linyang Energy Co., Ltd., Kamstrup A/S, Landis + GYR Group AG, Mitsubishi, Nanjing Xinlian Electronics Co., Ltd., Sagemcom SAS, Sensus USA Inc., Shenzhen Hemei Group Co. Ltd., Shenzhen Kafia and many more are the foremost corporates which presently functioning in the global smart electricity meters market effectively for leading the highest market growth and registering the great value of market share around the globe during the short span while increasing the applications and benefits of such, delivering the better consumer satisfaction, employing the young and active personnel, analysing the strategies and policies of government as well as similar entities, spreading the awareness connected to the applications and features of such, implementing the policies of enlargement and profit making, establishing the several research and development programs, decreasing the associated prices of such, and improving the qualitative and quantitative measures of such.
In addition, the smart meter market is observing significant growth with favourable government mandates and fiscal incentives. Also, the additional benefits such as proficient energy management, controlled energy consumption and higher security against electricity theft will propel the smart meter market. Requirement of smart meters for every household signifies the potential of the market. Growth of smart meter market will also propel the market for components and supplementary equipment.
The market is set to observe growth owing to the augmented requirement for efficient data monitoring systems coupled with favorable government policies for smart meter rollout, improved cost savings due to the usage of smart meters making it a definitive case for implementation, and augmenting the emphasis on renewable energy sources globally.
Smart electric meter plays a proficient role in the residential sector, as this meter actions the energy consumed by the customers. The augmenting smart grid investments and the outpouring in the rate of incorporation of renewable sources of power generation to the prevailing grids, in developed economies, are projected to assistance the growth of the smart electric meter market. Therefore, in the near years, it is predicted that the market of smart electricity meter will increase around the globe more effectively over the incoming years.
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Europe Smart Electricity Meters Market 2020-2027 by Component (Hardware, Software), Technology (AMR, AMI), Communication Type (Cellular, RF, PLC), Phase (GISM, GIST, GISS), Precision (0.25S, 0.2S, 0.5S), End Use (Residential, Commercial, Industrial), and Country: Trend Outlook and Growth Opportunity
Ankur Gupta, Head Marketing & Communications