According to a new market research report published by sheer analytics and insights, “The Global Smart Electricity Meters Market was $12.3 Bn in 2020, and it is expected to reach $19.5 Bn by 2031. It is eventually growing at a commendable high compound annual growth rate CAGR of 4.2% between 2021-2031”, as per the latest market research report titled Global Smart Electricity Meters Market - Industry analysis, size, share, growth, trends and forecast, 2021 – 2031.
Smart electricity metering systems are used to bring down the demand of peak electricity and also to allow the consumers to easily monitor the consumption of power and also to reduce it. As energy production uses renewable approaches that vary with time, low power generation that results in unstable energy productivity. But using these metering devices will help to compensate for the loss as it controls the consumption of energy of different electronic devices as it can handle intermittent supply. Many smart meters rollout schemes like the favorable government initiatives that are taken in many countries will support the installation of these devices which will further help to accelerate the growth of this market during the forecasted period.
Geographically, The Global Smart Electricity Meters Market is divided into global regions like North America, Europe, Asia- Pacific, Latin America, Middle East, and Africa.
The primary key players in Global Smart Electricity Meters Market include Itron Inc., Landis + Gyr Ltd., GE Energy Company, Elster Group, Sensus USA Inc., Silver Spring, Jiangsu Linyang, Echelon, Holley Metering, NeoSilica, Jabil, Cyan Holdings Plc, ABB Ltd., ZPA Smart Energy, Enel.
The Global Smart Electricity Meters Market Has Been Segmented Into:
Global Smart Electricity Meters Market, By Application
Global Smart Electricity Meters Market, By Technology
Global Smart Electricity Meters Market, By Phase
Global Smart Electricity Meters Market, By Geography