Smart Meters Market (2017-2022) - Study by Mordor Intelligence
HYDERABAD, India, August 17, 2017 /PRNewswire/ --
The global smart meter market [https://www.mordorintelligence.com/industry-reports/global-smart-meters-market-industry ] is projected to witness a decline in demand over the next two years, owing to saturation of major markets. Valued at USD 119.27 million in 2016, the market is expected to fall to USD 116.95 million in 2018, while recovering over the second half of the forecast period (2017-2022). The smart meters market is classified into - electricity meters, water meters, gas meters, and heat meters. Each sector is governed by various regional factors, with technology adoption and government regulations playing significant roles in the growth of the market.
China remains the most prominent region in the landscape, accounting for over 64% of the global market share. Strict Chinese government mandates pushed the mass deployment of smart meters over the recent years, completing the rollout of electric meters in 2016. The country is expected to continue its consumption trend, with an estimated average of 31.58 million units per year over the forecast period. The country is also a key manufacturer of smart meters and will maintain its dominance over the forecast period. Increasing demand and government regulations in Europe and North American regions are expected to contribute to the consumption for smart meters over the forecast period.
Electric meters are the most widely consumed smart meters, with over 82% of the market share in 2016. Gas meters are expected to be the fastest growing segment over the forecast period, with an estimated CAGR of 15.43%. Saturation in demand for electric meters and increasing investments in gas distribution infrastructure, are the key factors driving the demand for gas meters. Increasing number of single households and growing focus on advanced metering infrastructure development in developed regions, are supporting the demand for smart gas meters, while technology trends, such as, smart cities, IoT, and connected homes, are expected to impact the market further.
Sensus Inc., Badger, and Neptune Technologies account for over 48.18% of the global smart water meters market, with a strong foot hold in developed nations. Other major companies contribute to about 37.29% of the market. Small and local companies have been identified to operate at small scales in the global landscape, with 14.53% of the market share. Limited product availability is a major factor in the industry, with companies operating in the electric and gas meters segments poised to venture into this segment over the forecast period.
Browse this report: Global Smart Meters Market - Industry Insights, Global Analysis, and Forecasts (2017-2022) [https://www.mordorintelligence.com/industry-reports/global-smart-meters-market-industry ]
The report will answer the following key questions:
1. Who are the major manufacturers of smart meters with respect to meter type? 2. What are the types and applications of smart meters? What is the market share of each type and major players in each market? 3. Overall global economic impact on the smart meters industry and development trends in advanced metering infrastructure. 4. What are the key market trends driving the growth of individual meter types, with respect to regional markets? 5. What are the drivers and challenges impacting the growth of the global market? 6. What are the major market opportunities and threats faced by the vendors in the global market? 7. Who are the major vendors and what are their market shares, with respect to each smart meter type?
Objectives of the study:
1. To provide a detailed analysis of the market structure, along with forecast of the various segments of the global smart meter market. 2. To provide insights on factors affecting the market's growth. To analyze the market based on various factors, including price analysis, supply chain analysis, Porter's five forces analysis, etc. 3. To provide geographical revenues of the market segments and sub-segments with respect to regions - North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. 4. To assess electricity, water, gas and heat meter markets and player dynamics. 5. To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market. 6. To track and analyze competitive developments, such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the global market.
About Mordor Intelligence
Mordor Intelligence [https://www.mordorintelligence.com ] is a market intelligence and business advisory firm. The company operates in the business of industry analysis & consulting, in over 16 verticals. In today's fast-paced and competitive business environment, every customer has unique information requirements. Having understood this, Mordor offers custom market intelligence and advisory services along with syndicated reports, to help them gain an edge over the competition. The company has successfully catered to over 500 (40% of fortune 500) clients since 2013.
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