Governments and many other legislative bodies across the globe are undertaking various initiatives to make sure smart meters are implemented in their own regions, propelling the global electricity meters market over the next few years. Electricity meters, also commonly known as smart meters, are devices used to measure and monitor energy consumption in households and industrial areas. These devices have existed for years in the industry. In 2011, the demand for smart electricity meters was 25 million units and is further expected to surpass 148 million units in the next four years. Until 2018, the electricity meters market is expected to grow at a CAGR of 18.7% from 2012 to 2018.

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The market is impressively growing due to the need for electricity meters as reliable and efficient power distribution setup systems. As smart meters can be used in both micro and macro-level applications in different industry verticals, they are widely implemented for various purposes. Considering in terms of revenue growth, the electricity meters market is expected to reach US$19.8 billion by 2018 from a global figure of US$4.0 billion in 2011. The CAGR registered in terms of revenue will be 16.5% from 2012 to 2018.

Demand for electricity meters is rising due to the major benefits they hold and the benefites are:

> Energy savings
> Knowledge of Peak Consumption
> Fraud Detection
> Prepayment Facilities

Due to these advantages, there is growing awareness among consumers about using electricity meters for controlling electricity usage during peak hours. Such factors are expected to have a positive impact on the demand for smart meters, in turn driving the global electricity meters market over the 2012-2018 forecast period.

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Electricity Meters Market –By Application

> Residential Meters
> Commercial Meters
> Industrial Meters

The electricity meters used for residential purposes held the largest market share in 2011. Residential applications accounted for over 81% of global smart meter units in 2011 contributing to only 26.3% of the overall revenue. The demand for commercial smart meters is expected to reach 15.8 million units by 2018.

Key market participants profiled in this report include:

> Itron
> Landis+Gyr
> Holley Metering Ltd.
> Jiangsu Linyang Electronics Co. Ltd.
> General Electric, and so on