(MENAFNEditorial) According to the report published by Grand View Research, Global Smart Electricity Meters Market size was estimated at USD 6.59 billion in 2016 and The increasing regulatory initiatives to install the smart meters in various regions around the globe is likely to spur the market. Globalis anticipated to reach USD 49.9 billion by 2025, according to a new report by Grand View Research, Inc. The rising demand of energy security has been prevailing in the energy sector from a long time.
Renewable energy generation has sufficed this demand to a greater extent, but the energy provided by such systems is intermittent, and thus energy conservation and efficient utilization of energy are the key aspects of energy security. Smart meters deliver instantaneous data which can be analyzed, and the consumption can be controlled stabilizing the energy demands.
The increasing regulatory initiatives to install the smart meters in various regions around the globe is likely to spur the market demand over the forecast period. Smart meters are a fundamental component of a smart grid network. The smart grids are used to monitor and control the transmission system, which is an enhancement over the conventional electrical network. Initialization of smart grids in various regions is expected to fuel the demand for smart meters over the forecast period.
The commercial segment is largely profited by these smart systems as they assist in increasing the energy efficiency by providing real-time pricing and consumption data display which is directly related to the spending of the segment. However, factors, such as electricity theft are likely to restrain the market growth. Smart Electricity Metering mandates have been established for the European Union with rollout plans set by the Commission for Energy Regulation, among other legislative bodies.
Full Research Report on Global Smart Meters market Analysis:
U.S. market by end use, 2014 - 2025 (USD Million)
Further key findings from the report suggest:
The growing adoption of smart grids by several regions is anticipated to drive the market
The residential segment is expected to portray high growth rate with a CAGR of 5.9% over the projected period.
The European regional market is expected to have significant growth over the forecast period, owing to the large-scale adoption of smart meters.
The key players in the market include ABB Ltd, General Electric Company, Holley Metering Ltd, Elster Group, Iskraemeco, Itron Inc., Landis+Gyr, Schneider Electric and Siemens AG.
View more reports of this category by Grand View Research at:
Smart Electricity Meters market, by end use, 2016 (USD Million)
Grand View Research has segmented the Global Smart Meters market based on structure, offering, growing mechanism, and regions:
Smart Electricity Meters End Use Outlook (Revenue, USD Million;Volume, Million Units;2014 - 2025)
Residential
Commercial
Industrial Smart Electricity Meters Regional Outlook (Revenue, USD Million;Volume, Million Units;2014 - 2025)
North America U.S.
Canada
Mexico Europe Germany
UK
France
Italy
Spain
Netherlands Asia Pacific China
Japan
South Korea South America Brazil The Middle East and Africa (MEA)
View Press Release Of This Research Report By Grand View Research:
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