Browse All: Smart Meter ForecastsBrowse All: Smart Meter Market
Smart meter is an electronic measuring instrument which enables two-way communication and transfers the data between customers and utility players. It records the detailed data, collects and stores interval data, and interfaces with other devices, such as in-home displays, smart thermostats and appliances, home area networks, advanced control systems, and more. Major applications of smart meters analyzed in the report are residential, commercial, and industrial.
The global smart meter market is estimated to reach $15,261.4 million in 2016 from $4,381.0 million in 2010, at a CAGR of 20.8% from 2011 to 2016.
The market inNorth Americaaccounted for the highest share in the smart meter market with $4,614.7 million in 2011, and is expected to reach $11,612.0 million in 2016 with a CAGR of 20.3%.Europeand APAC are driving the smart meter installation and expected to hold 19.7% of the global market share in 2016. Residential was the largest and one of the fastest growing application in 2010. This was primarily due to the rapid replacement of standard & AMR meters with smart meters.
The global installation for smart electric meter was 25,400.0 thousand units in 2010.The installation capacity for smart electric meter is projected to reach 104,100.0 thousand units by 2016; with a CAGR of 24.9% from 2011 to 2016 due to increasing demand for smart electric meters in countries such as China, Australia, India, Sweden, The Netherlands, Spain, and the U.S. through the governments' support worldwide and to reduce the environmental footprint of the country. Also, the installations for smart gas meter and smart waster meter also growing throughout.
Some of the key market players in the global smart meters market based on their market presence and analysis are Landis+Gyr Ltd (Switzerland), Itron Inc (U.S.), Elster Group (Germany), GE Energy Company (U.S.), and Sensus USA Inc (U.S.). If you need any kind of information on this article related topic click here: Smart Metering Companies
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