The global smart meters market is estimated to grow at a CAGR of more than 7% during the forecast period. Smart meters are essential components of modern smart grid systems that communicate the information for better clarity to the resource suppliers for monitoring and billing. The market growth is attributed to the increasing digitalization and urbanization, which increase the demand for resources like water, electricity, and gas; thereby, propelling the demand for smart meters. The global market for smart meters is primarily expanding due to the increasing electricity consumption globally. Moreover, government policy mandates, high investments in digital electricity infrastructure, and the development of communication infrastructure are some of the major factors driving the growth of the market.
Market Segmentation
The global smart meters market has been analyzed on the basis of product type, application, technology, and region. By product type, the market is segmented into smart electric meter, smart gas meter, and smart water meter. Among these, the smart electricity meters segment is expected to dominate the market in the forthcoming years. Based on application, the market is segmented into residential, commercial, industrial, and transportation. The residential segment accounted for the largest share of the smart meters market. By technology, the market is segmented into radio frequency (RF) and power line carrier (PLC). Geographically, the market is analyzed into North America, Western Europe, Eastern Europe, Asia Pacific, Latin America, and Middle East & Africa.
Market Structure and Competition Landscape
The growth of the global smart meters market is characterized by the presence of players operating in the market. Some of the key players in the market include Eaton Corp., Itron Inc., Landis+Gyr, Schneider Electric SA, Siemens AG, Badger Meter, EDMI, Holley Metering Ltd., Neptune Technology Group Inc., Sensus, Honeywell International Inc., Kaifa Technology, Suntront Technology, Kamstrup Company, Aichi Tokei Denkei, Wasion Group, Elster Group, General Electric Co., and Genus Power Infrastructure among others. These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers and acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global smart meters market include,
? In August 2021, Adani Total Gas Ltd., which manufactures gas meters bought 50% share of Smartmeters Systems Pvt Ltd. to reinforce its regional footprint and gain considerable market share.
? In December 2020, Calisen was acquired by global consortium Coyote Bidco. Through this acquisition, Bidco aimed to invest in the energy transition sector in UK with a strong opportunity to expand into adjacent sectors.
Global Smart Meter Market Analysis and Forecast 2019-2028
Table of Contents
1. Market Introduction
1.1. Scope of Study
1.2. Problem Statement
1.3. Market Segmentation
2. Assumptions and Acronyms
3. Executive Summary
3.1. Global Market in 2022
3.2. Analyst Insights & Recommendations
3.3. Growth Opportunities and Key Strategies
3.4. Supply-side and Demand-side Trends
4. Research Methodology
5. Analysis of COVID-19 Impact and Road Ahead
6. Market Indicators and Background
6.1. Macro-Economic Factors
6.2. Forecasting Factors
Robust assessment of various factors including industrial performance, industry players? expenditures, economic conditions, among others
6.3. Supply Chain & Value Chain Analysis
6.3.1. Smart Meter Manufacturers
6.3.2. Key End-Users
6.4. Industry SWOT Analysis
6.5. PESTLE Analysis
6.6. Porter?s Five Forces Analysis
7. Rules & Regulations
8. Global and Regional Market Dynamics
8.1. Drivers
8.2. Restraints
8.3. Trends
8.4. Opportunities
9. Global Smart Meter Market: Key Investment Analysis
9.1. By Leading Smart Meter Manufacturers
9.2. By Region
9.2.1. North America
9.2.2. Western Europe
9.2.3. Eastern Europe
9.2.4. Asia Pacific
9.2.5. Latin America
9.2.6. Middle East and Africa
9.3. M&A Activities
10. Parent Market Overview
10.1. Global Energy & Power Market
10.2. Global Electronics and Semiconductor Market
11. Segmental Analysis
11.1. Global Smart Meter Market by Product Type
11.1.1. Segment Overview
11.1.1.1. Electricity Meter
11.1.1.2. Gas Meter
11.1.1.3. Water Meter
11.2. Global Smart Meter Market by Technology
11.2.1. Segment Overview
11.2.1.1. Radio Frequency (RF)
11.2.1.2. Power Line Carrier (PLC)
11.3. Global Smart Meter Market by Application
11.3.1. Segment Overview
11.3.1.1. Residential
11.3.1.2. Commercial
11.3.1.3. Industrial
11.3.1.4. Transportation
11.4. Global Smart Meter Market by Region
11.4.1. North America
11.4.2. Latin America
11.4.3. Western Europe
11.4.4. Eastern Europe
11.4.5. Asia Pacific
11.4.6. Middle East & Africa
12. Regional Analysis
12.1. North America Smart Meter Market Analysis and Forecast 2019-2028
12.1.1. Market Overview
12.1.2. North America Smart Meter Market by Product Type
12.1.3. North America Smart Meter Market by Application
12.1.4. North America Smart Meter Market by End User
12.1.5. North America Smart Meter Market by Country
12.1.5.1. US
12.1.5.2. Canada
12.2. Latin America Smart Meter Market Analysis and Forecast 2019-2028
12.2.1. Market Overview
12.2.2. Latin America Smart Meter Market by Product Type
12.2.3. Latin America Smart Meter Market by Application
12.2.4. Latin America Smart Meter Market by End User
12.2.5. Latin America Smart Meter Market by Country
12.2.5.1. Brazil
12.2.5.2. Mexico
12.2.5.3. Rest of Latin America
12.3. Western Europe Smart Meter Market Analysis and Forecast 2019-2028
12.3.1. Market Overview
12.3.2. Western Europe Smart Meter Market by Product Type
12.3.3. Western Europe Smart Meter Market by Application
12.3.4. Western Europe Smart Meter Market by End User
12.3.5. Western Europe Smart Meter Market by Country
12.3.5.1. Germany
12.3.5.2. UK
12.3.5.3. France
12.3.5.4. Spain
12.3.5.5. Italy
12.3.5.6. Benelux
12.3.5.7. Nordic
12.3.5.8. Rest of Western Europe
12.4. Eastern Europe Smart Meter Market Analysis and Forecast 2019-2028
12.4.1. Market Overview
12.4.2. Eastern Europe Smart Meter Market by Product Type
12.4.3. Eastern Europe Smart Meter Market by Application
12.4.4. Eastern Europe Smart Meter Market by End User
12.4.5. Eastern Europe Smart Meter Market by Country
12.4.5.1. Russia
12.4.5.2. Poland
12.4.5.3. Rest of Eastern Europe
12.5. Asia Pacific Smart Meter Market Analysis and Forecast 2019-2028
12.5.1. Market Overview
12.5.2. Asia Pacific Smart Meter Market by Product Type
12.5.3. Asia Pacific Smart Meter Market by Application
12.5.4. Asia Pacific Smart Meter Market by End User
12.5.5. Asia Pacific Smart Meter Market by Country
12.5.5.1. China
12.5.5.2. Japan
12.5.5.3. India
12.5.5.4. South Korea
12.5.5.5. Australia
12.5.5.6. ASEAN
12.5.5.7. Rest of Asia-Pacific
12.6. Middle East & Africa Smart Meter Market Analysis and Forecast 2019-2028
12.6.1. Market Overview
12.6.2. Middle East & Africa Smart Meter Market by Product Type
12.6.3. Middle East & Africa Smart Meter Market by Application
12.6.4. Middle East & Africa Smart Meter Market by End User
12.7. Middle East & Africa Smart Meter Market by Country
12.7.1.1. GCC
12.7.1.2. South Africa
12.7.1.3. Turkey
12.7.1.4. Rest of the Middle East & Africa
13. Competitive Landscape
13.1. Competition Dashboard
13.1.1. Global and Regional Market Share Analysis
13.1.2. Market Structure
13.2. Competitive Benchmarking
13.3. Key Strategy Analysis
13.4. Company Profiles
13.4.1. Itron Inc.
13.4.1.1. Company Overview
13.4.1.2. Product/Service Offerings
13.4.1.3. Key Financials
13.4.1.4. Recent Developments
13.4.2. Eaton Corp.
13.4.2.1. Company Overview
13.4.2.2. Product/Service Offerings
13.4.2.3. Key Financials
13.4.2.4. Recent Developments
13.4.3. Landis+Gyr
13.4.3.1. Company Overview
13.4.3.2. Product/Service Offerings
13.4.3.3. Financials
13.4.3.4. Recent Developments
13.4.4. Schneider Electric SA
13.4.4.1. Company Overview
13.4.4.2. Product/Service Offerings
13.4.4.3. Financials
13.4.4.4. Recent Developments
13.4.5. Siemens AG
13.4.5.1. Company Overview
13.4.5.2. Product/Service Offerings
13.4.5.3. Financials
13.4.5.4. Recent Developments
13.4.6. Badger Meter, Inc.
13.4.6.1. Company Overview
13.4.6.2. Product/Service Offerings
13.4.6.3. Financials
13.4.6.4. Recent Developments
13.4.7. EDMI Ltd.
13.4.7.1. Company Overview
13.4.7.2. Product/Service Offerings
13.4.7.3. Financials
13.4.7.4. Recent Developments
13.4.8. Holley Metering Ltd.
13.4.8.1. Company Overview
13.4.8.2. Product/Service Offerings
13.4.8.3. Financials
13.4.8.4. Recent Developments
13.4.9. Neptune Technology Group Inc.
13.4.9.1. Company Overview
13.4.9.2. Product/Service Offerings
13.4.9.3. Financials
13.4.9.4. Recent Developments
13.4.10. Sensus
13.4.10.1. Company Overview
13.4.10.2. Product/Service Offerings
13.4.10.3. Financials
13.4.10.4. Recent Developments
13.4.11. Honeywell International Inc.
13.4.11.1. Company Overview
13.4.11.2. Product/Service Offerings
13.4.11.3. Financials
13.4.11.4. Recent Developments
13.4.12. Kaifa Technology
13.4.12.1. Company Overview
13.4.12.2. Product/Service Offerings
13.4.12.3. Financials
13.4.12.4. Recent Developments
13.4.13. Suntront Tech Co.
13.4.13.1. Company Overview
13.4.13.2. Product/Service Offerings
13.4.13.3. Financials
13.4.13.4. Recent Developments
13.4.14. Kamstrup Company
13.4.14.1. Company Overview
13.4.14.2. Product/Service Offerings
13.4.14.3. Financials
13.4.14.4. Recent Developments
13.4.15. Aichi Tokei Denkei Co. Ltd.
13.4.15.1. Company Overview
13.4.15.2. Product/Service Offerings
13.4.15.3. Financials
13.4.15.4. Recent Developments
13.4.16. Wasion Group
13.4.16.1. Company Overview
13.4.16.2. Product/Service Offerings
13.4.16.3. Financials
13.4.16.4. Recent Developments
13.4.16.5. General electric
13.4.16.6. Company Overview
13.4.16.7. Product/Service Offerings
13.4.16.8. Financials
13.4.16.9. Recent Developments
13.4.17. Genus Power Infrastructure Ltd.
13.4.17.1. Company Overview
13.4.17.2. Product/Service Offerings
13.4.17.3. Financials
13.4.17.4. Recent Developments
14. Disclaimer
List of Figures
Figure 01: Global Smart Meter Market Volume (?000 units), 2019-2021
Figure 02: Global Smart Meter Market Volume (?000 units) & Y-o-Y Growth (%) Analysis, 2022?2028
Figure 03: Smart Meter, Pricing Analysis per unit (US$), in 2022
Figure 04: Smart Meter, Pricing Forecast per unit (US$), in 2028
Figure 05: Global Smart Meter Market Value Analysis (US$ Mn), 2019-2021
Figure 06: Global Smart Meter Market Size (US$ Mn) & Y-o-Y Growth (%) Analysis, 2022?2028
Figure 07: Global Smart Meter Market Size and Market Share Analysis (%) by Product Type, 2022 & 2028
Figure 08: Global Smart Meter Market Y-o-Y Analysis (%) by Product Type, 2022-2028
Figure 09: Global Smart Meter Market Size and Market Share Analysis (%) by Technology, 2022 & 2028
Figure 10: Global Smart Meter Market Y-o-Y Analysis (%) by Technology, 2022-2028
Figure 11: Global Smart Meter Market Size and Market Share Analysis (%) by Application, 2022 & 2028
Figure 12: Global Smart Meter Market Y-o-Y Analysis (%) by Application, 2022-2028
Figure 13: Global Smart Meter Market Size and Market Share Analysis (%) by Region, 2022 & 2028
Figure 14: Global Smart Meter Market Y-o-Y Growth (%) by Region, 2022?2028
Figure 15: North America Smart Meter Market Size and Market Share Analysis (%) by Product Type, 2022 & 2028
Figure 16: North America Smart Meter Market Size and Market Share Analysis (%) by Technology, 2022 & 2028
Figure 17: North America Smart Meter Market Size and Market Share Analysis (%) by Application, 2022 & 2028
Figure 18: North America Smart Meter Market Size and Market Share Analysis (%) by Country, 2022 & 2028
Figure 19: Latin America Smart Meter Market Size and Market Share Analysis (%) by Product Type, 2022 & 2028
Figure 20: Latin America Smart Meter Market Size and Market Share Analysis (%) by Technology, 2022 & 2028
Figure 21: Latin America Smart Meter Market Size and Market Share Analysis (%) by Application, 2022 & 2028
Figure 22: Latin America Smart Meter Market Size and Market Share Analysis (%) by Country, 2022 & 2028
Figure 23: Western Europe Smart Meter Market Size and Market Share Analysis (%) by Product Type, 2022 & 2028
Figure 24: Western Europe Smart Meter Market Size and Market Share Analysis (%) by Technology, 2022 & 2028
Figure 25: Western Europe Smart Meter Market Size and Market Share Analysis (%) by Application, 2022 & 2028
Figure 26: Western Europe Smart Meter Market Size and Market Share Analysis (%) by Country, 2022 & 2028
Figure 27: Eastern Europe Smart Meter Market Size and Market Share Analysis (%) by Product Type, 2022 & 2028
Figure 28: Eastern Europe Smart Meter Market Size and Market Share Analysis (%) by Technology, 2022 & 2028
Figure 29: Eastern Europe Smart Meter Market Size and Market Share Analysis (%) by Application, 2022 & 2028
Figure 30: Eastern Europe Smart Meter Market Size and Market Share Analysis (%) by Country, 2022 & 2028
Figure 31: Asia Pacific Smart Meter Market Size and Market Share Analysis (%) by Product Type, 2022 & 2028
Figure 32: Asia Pacific Smart Meter Market Size and Market Share Analysis (%) by Technology, 2022 & 2028
Figure 33: Asia Pacific Smart Meter Market Size and Market Share Analysis (%) by Application, 2022 & 2028
Figure 34: Asia Pacific Smart Meter Market Size and Market Share Analysis (%) by Country, 2022 & 2028
Figure 35: Middle East & Africa Smart Meter Market Size and Market Share Analysis (%) by Product Type, 2022 & 2028
Figure 36: Middle East & Africa Smart Meter Market Size and Market Share Analysis (%) by Technology, 2022 & 2028
Figure 37: Middle East & Africa Smart Meter Market Size and Market Share Analysis (%) by Application, 2022 & 2028
Figure 38: Middle East & Africa Smart Meter Market Size and Market Share Analysis (%) by Country, 2022 & 2028
List of Tables
Table 1: Global Smart Meter Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Product Type
Table 2: Global Smart Meter Market Volume (?000 units) Analysis and Forecast 2019-2028, by Product Type
Table 3: Global Smart Meter Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Technology
Table 4: Global Smart Meter Market Volume (?000 units) Analysis and Forecast 2019-2028, by Technology
Table 5: Global Smart Meter Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Application
Table 6: Global Smart Meter Market Volume (?000 units) Analysis and Forecast 2019-2028, by Application
Table 7: Global Smart Meter Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Region
Table 8: Global Smart Meter Market Volume (?000 units) Analysis and Forecast 2019-2028, by Region
Table 9: North America Smart Meter Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Product Type
Table 10: North America Smart Meter Market Volume (?000 units) Analysis and Forecast 2019-2028, by Product Type
Table 11: North America Smart Meter Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Technology
Table 12: North America Smart Meter Market Volume (?000 units) Analysis and Forecast 2019-2028, by Technology
Table 13: North America Smart Meter Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Application
Table 14: North America Smart Meter Market Volume (?000 units) Analysis and Forecast 2019-2028, by Application
Table 15: North America Smart Meter Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Country
Table 16: North America Smart Meter Market Volume (?000 units) Analysis and Forecast 2019-2028, by Country
Table 17: Latin America Smart Meter Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Product Type
Table 18: Latin America Smart Meter Market Volume (?000 units) Analysis and Forecast 2019-2028, by Product Type
Table 19: Latin America Smart Meter Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Technology
Table 20: Latin America Smart Meter Market Volume (?000 units) Analysis and Forecast 2019-2028, by Technology
Table 21: Latin America Smart Meter Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Application
Table 22: Latin America Smart Meter Market Volume (?000 units) Analysis and Forecast 2019-2028, by Application
Table 23: Latin America Smart Meter Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Country
Table 24: Latin America Smart Meter Market Volume (?000 units) Analysis and Forecast 2019-2028, by Country
Table 25: Western Europe Smart Meter Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Product Type
Table 26: Western Europe Smart Meter Market Volume (?000 units) Analysis and Forecast 2019-2028, by Product Type
Table 27: Western Europe Smart Meter Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Technology
Table 28: Western Europe Smart Meter Market Volume (?000 units) Analysis and Forecast 2019-2028, by Technology
Table 29: Western Europe Smart Meter Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Application
Table 30: Western Europe Smart Meter Market Volume (?000 units) Analysis and Forecast 2019-2028, by Application
Table 31: Western Europe Smart Meter Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Country
Table 32: Western Europe Smart Meter Market Volume (?000 units) Analysis and Forecast 2019-2028, by Country
Table 33: Eastern Europe Smart Meter Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Product Type
Table 34: Eastern Europe Smart Meter Market Volume (?000 units) Analysis and Forecast 2019-2028, by Product Type
Table 35: Eastern Europe Smart Meter Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Technology
Table 36: Eastern Europe Smart Meter Market Volume (?000 units) Analysis and Forecast 2019-2028, by Technology
Table 37: Eastern Europe Smart Meter Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Application
Table 38: Eastern Europe Smart Meter Market Volume (?000 units) Analysis and Forecast 2019-2028, by Application
Table 39: Eastern Europe Smart Meter Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Country
Table 40: Eastern Europe Smart Meter Market Volume (?000 units) Analysis and Forecast 2019-2028, by Country
Table 41: Asia Pacific Smart Meter Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Product Type
Table 42: Asia Pacific Smart Meter Market Volume (?000 units) Analysis and Forecast 2019-2028, by Product Type
Table 43: Asia Pacific Smart Meter Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Technology
Table 44: Asia Pacific Smart Meter Market Volume (?000 units) Analysis and Forecast 2019-2028, by Technology
Table 45: Asia Pacific Smart Meter Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Application
Table 46: Asia Pacific Smart Meter Market Volume (?000 units) Analysis and Forecast 2019-2028, by Application
Table 47: Asia Pacific Smart Meter Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Country
Table 48: Asia Pacific Smart Meter Market Volume (?000 units) Analysis and Forecast 2019-2028, by Country
Table 49: Middle East & Africa Smart Meter Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Product Type
Table 50: Middle East & Africa Smart Meter Market Volume (?000 units) Analysis and Forecast 2019-2028, by Product Type
Table 51: Middle East & Africa Smart Meter Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Technology
Table 52: Middle East & Africa Smart Meter Market Volume (?000 units) Analysis and Forecast 2019-2028, by Technology
Table 53: Middle East & Africa Smart Meter Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Application
Table 54: Middle East & Africa Smart Meter Market Volume (?000 units) Analysis and Forecast 2019-2028, by Application
Table 55: Middle East & Africa Smart Meter Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Country
Table 56: Middle East & Africa Smart Meter Market Volume (?000 units) Analysis and Forecast 2019-2028, by Country
The global smart meters market is estimated to grow at a CAGR of more than 7% during the forecast period. Smart meters are essential components of modern smart grid systems that communicate the information for better clarity to the resource suppliers for monitoring and billing. The market growth is attributed to the increasing digitalization and urbanization, which increase the demand for resources like water, electricity, and gas; thereby, propelling the demand for smart meters. The global market for smart meters is primarily expanding due to the increasing electricity consumption globally. Moreover, government policy mandates, high investments in digital electricity infrastructure, and the development of communication infrastructure are some of the major factors driving the growth of the market.
Market Segmentation
The global smart meters market has been analyzed on the basis of product type, application, technology, and region. By product type, the market is segmented into smart electric meter, smart gas meter, and smart water meter. Among these, the smart electricity meters segment is expected to dominate the market in the forthcoming years. Based on application, the market is segmented into residential, commercial, industrial, and transportation. The residential segment accounted for the largest share of the smart meters market. By technology, the market is segmented into radio frequency (RF) and power line carrier (PLC). Geographically, the market is analyzed into North America, Western Europe, Eastern Europe, Asia Pacific, Latin America, and Middle East & Africa.
Market Structure and Competition Landscape
The growth of the global smart meters market is characterized by the presence of players operating in the market. Some of the key players in the market include Eaton Corp., Itron Inc., Landis+Gyr, Schneider Electric SA, Siemens AG, Badger Meter, EDMI, Holley Metering Ltd., Neptune Technology Group Inc., Sensus, Honeywell International Inc., Kaifa Technology, Suntront Technology, Kamstrup Company, Aichi Tokei Denkei, Wasion Group, Elster Group, General Electric Co., and Genus Power Infrastructure among others. These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers and acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global smart meters market include,
? In August 2021, Adani Total Gas Ltd., which manufactures gas meters bought 50% share of Smartmeters Systems Pvt Ltd. to reinforce its regional footprint and gain considerable market share.
? In December 2020, Calisen was acquired by global consortium Coyote Bidco. Through this acquisition, Bidco aimed to invest in the energy transition sector in UK with a strong opportunity to expand into adjacent sectors.
