A Smart electric meter automatically records consumption of electric energy and sends the information to the electric supplier for monitoring and billing. These meters offer two-way communication between the meter and the central system. The smart electric meter is highly energy-efficient and reduces the cost of electricity bills. They also minimize the chances of blackouts and system-wide electricity failures, monitors the electrical system in real-time, and eliminates the manual monthly meter readings.

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The significant factors driving the growth of the global smart electricity meter market include the growing need for efficient data monitoring systems and the favorable government policies to promote the adoption of smart meter across the globe. With the increasing incidences of unstable power generation, the consumers are looking for smart electricity meters to control the total energy consumption by numerous devices. Countries such as the U.S. and United Kingdom are launching various smart meter rollout schemes to support the installation of these devices around the nation. In addition to this, the increasing cases of energy theft are promoting the end-users to install smart meters, which acts as an appropriate solution for these fraudulent acts. The smart electric meter provides accurate reading and does not require the manual procedure of taking readings and then producing electricity bills.

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Various notable players operating in the market include The Benchmarking Company, Landis+Gyr (Toshiba Corporation), Itron Inc., Honeywell International Inc., Aclara Technologies LLC, Iskraemeco, d.d., Wasion Group, Microchip Technology Inc., Jiangsu Linyang Energy Co. Ltd., and Schneider Electric among others.

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The global Smart Electricity Meter market has been segmented on the basis of phase, communication technology type, end-user and region. Based on phase, the market is segmented into single phase and three phase. Based on communication technology type, the market is segmented into power line communication, radio frequency and cellular. Based on end-user, the market is segmented into residential, commercial, and industrial.

Key questions answered in this research report:

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

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