A smart meter is a digital meter that monitors utility usage and shares the useful information with the utility suppliers. The smart meter uses two-way communication, firstly its records the data at the point of usage and then sends back the information to the utility companies. These meters are the electric meters that will provide information about the energy consumed by the end-users. A smart meter is a component of the smart grid that manages energy distribution and consumption to create co-ordination, communication, and control. These meters consist of three components, such as power system, microcontroller, and communication interface.

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The major driving factors driving the growth of the global smart meter market include the rising energy consumption to enable two-way communication between the meter and the central system used by the utilities. Increasing government support and initiatives is further propelling the growth of the global smart meter market. Growing technological advancements such as smart grid development and infrastructure development are further energizing the demand of the market in the coming years. Moreover, the growing economic development among the developing countries will further create innumerable growth opportunities in the market. On the other edge, the emergence of the COVID-19 pandemic will have an adverse impact on the market for smart meter. The strict lockdown around the world has brought disruption in the supply chain and difficulties in the export and import of raw materials used in the manufacturing of smart meters. However, the market is expected to bounce back in 2021 while growing at a significant rate from 2022 onwards.

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Based on the type, the global smart meter market segmented into smart electric meter, smart water meter, and smart gas meter. The electric smart meter segment is projected to grow at a higher CAGR over the forecast period. These meters monitor the electric system in real-time and eradicates manual monthly meter readings, which is propelling the demand of the global smart meter market. The smart electric meter is highly energy-efficient. Furthermore, the smart water meter measures water flow under wireless communication in the wide areas of the network.

Based on the end-user, the global smart meter market segmented into residential, commercial, and industrial. The growing demand for the continuous supply of electricity by the consumers is expecting to drive the global smart meter market. The smart meters are equipped to record electricity and the performance of the device. The smart meters optimize the profit with the existing resources in industrial areas.

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On the basis of region, the Asia-Pacific and Western Europe region is anticipated to dominate the market during the forecast period owing to the growing installation of new smart meters for the upgradation over the conventional meters. For instance, China has included upgradation of its grid infrastructure in the five-year countrywide plan. Increasing consumer preferences and changing lifestyles will target the consumers to drive the demand of the global smart meter market. The increasing investments by governments is creating new opportunities, especially in the developing economies such as China, India, and Japan.

Various notable players operating in the market include Badger Meter Inc, Aidon Suomi, Hydrometer GMBH, Circutor SA, EDMI Ltd., Aclara Technologies LLC., Echelon Corporation, General Electric Company, Holley Metering Limited, Iskraemeco d.d., Itron, Kamstrup A/S, Landis+Gyr, and Sensus among others.

Key Developments

• • In October 2019, Sensus launched new ultrasound static water meter, Cordonel, for smart utility network. Cordonel monitors distribution networks for accurate water resource management.
  • In June 2018, Badger Meter launched New E-Series® Ultrasonic Meters for commercial purposes. The newest smart meters are available in 3-inch and 4-inch sizes. Badger Meter E-Series Ultrasonic meters incorporate high accuracy measurement, fully programable registration, and long-term dependability.

The Global Smart Meter market has been segmented on the basis of type, communication type, component, end-user, technology and region. Based on Type, the market is segmented into Smart Water Meters, Smart Electric Meters, and Smart Gas Meters. Based on the communication type, the market is segmented into RF, PL and Cellular. Based on the component, the market is segmented into Hardware and Software. Based on the end-user, the market is segmented into Commercial, Residential, and Industrial. Based on technology, the market is segmented into Advanced Metering Infrastructure (AMI) and Automatic Meter Reading (AMR).

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Key questions answered in this research report:

• • At what pace is the global smart meter market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in global smart meter market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the global smart meter market?
  • Which Type generated maximum revenues in 2019 and identify the most promising Type during the forecast period?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?
  • What are the various End-Users of Global Smart Meter market and how they are poised to grow?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Type, By Communication type, By Component, By End-User, By Technology and, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Badger Meter Inc, Aidon Suomi, Hydrometer GMBH, Circutor SA, EDMI Ltd., Aclara Technologies LLC., Echelon Corporation, General Electric Company, Holley Metering Limited, Iskraemeco d.d., Itron, Kamstrup A/S, Landis+Gyr and Sensus among others; a total of 14 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Smart Meter Market by Type

• • Smart Water Meter
  • Smart Electric Meter
  • Smart Gas Meter

Global Smart Meter Market by Communication Type

• • RF
  • PLC
  • Cellular

Global Smart Meter Market by Component Type

• • Hardware
  • Software

Global Smart Meter Market by End-User

• • Commercial
  • Residential
  • Industrial

Global Smart Meter Market by Technology

• • Advanced Metering Infrastructure (AMI)
  • Automatic Meter Reading (AMR)

Global Smart Meter Market by Region

• • North America Smart Meter Market (Option 1: As a part of the free 25% customization)

• • • North America Smart Meter Market by Type
    • North America Smart Meter Market by Communication Type
    • North America Smart Meter Market by Component Type
    • North America Smart Meter Market by End-User
    • North America Smart Meter Market by Technology
    • US Smart Meter Market All-Up
    • Canada Smart Meter Market All-Up

• • Europe Smart Meter Market (Option 2: As a part of the free 25% customization)

• • • Europe Smart Meter Market by Type
    • Europe Smart Meter Market by Communication Type
    • Europe Smart Meter Market by Component Type
    • Europe Smart Meter Market by End-User
    • Europe Smart Meter Market by Technology
    • UK Smart Meter Market All-Up
    • Germany All-Up Smart Meter Market All-Up
    • France Smart Meter Market All-Up
    • Spain Smart Meter Market All-Up
    • Rest of Europe Smart Meter Market All-Up

• • Asia-Pacific Smart Meter Market (Option 3: As a part of the free 25% customization)

• • • Asia-Pacific Smart Meter Market by Type
    • Asia-Pacific Smart Meter Market by Communication Type
    • Asia-Pacific Smart Meter Market by Component Type
    • Asia-Pacific Smart Meter Market by End-User
    • Asia-Pacific Smart Meter Market by Technology
    • China Smart Meter Market All-Up
    • India Smart Meter Market All-Up
    • Japan Smart Meter Market All-Up
    • Rest of APAC Smart Meter Market All-Up

• • RoW Smart Meter Market (Option 4: As a part of the free 25% customization)

• • • RoW Smart Meter Market by Type
    • RoW Smart Meter Market by Communication Type
    • RoW Smart Meter Market by Component Type
    • RoW Smart Meter Market by End-User
    • RoW Smart Meter Market by Technology
    • Brazil Smart Meter Market All-Up
    • South Africa Smart Meter Market All-Up
    • Saudi Arabia Smart Meter Market All-Up
    • UAE Smart Meter Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Smart Meter Market All-Up

Major Players Operating the Smart Meter (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Badger Meter Inc
  • Aidon Suomi
  • Hydrometer GMBH
  • Circutor SA
  • EDMI Ltd.
  • Aclara Technologies LLC.
  • Echelon Corporation
  • General Electric Company
  • Holley Metering Limited
  • Iskraemeco d.d.
  • Itron
  • Kamstrup A/S
  • Landis+Gyr
  • Sensus