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Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Electricity meters are devices used for measuring electric energy consumption and are used for industrial, residential, and commercial purposes. Traditional electricity meters used electromechanical induction; however, electronic, smart, or digital meters have been gaining popularity over the last few years. Smart meters are an alternative to legacy energy meters and provide two-way communication. They communicate directly with the electricity supplier, thus eliminating the intervention of manual readings. Smart meters have transitioned from AMR (Automatic Meter Reading) to AMI (Advanced Metering Infrastructure) capabilities.

The global electricity meters market is estimated to be valued at US$ 25,001.2 million in 2021 and is expected to exhibit a CAGR of 18.7 % over the forecast period (2021-2028).

Recent Developments:

In March 2021, Itron, Inc., a U.S. based technology company launched eHZ-B residential smart meter for utilities and cities in Germany. The eHZ-B smart meter is built with advanced functionality to support Germany’s energy transition to a low carbon, reliable and affordable energy supply, and equip utilities and cities to safely migrate to a smart and connected distribution network.

In April 2021, Tata Power Delhi Distribution Limited (Tata Power-DDL), a joint venture between Tata Power and the Government of NCT of Delhi has launched Narrow Band-Internet of Things (NB-IoT) for smart meters installed in its service area.

Statistics:

Figure 1. Global Electricity Meter Market Value (US$ Mn), by Region, 2020

Electricity Meters  | Coherent Market Insights

APAC  held dominant position in the global electricity meter market in 2020, accounting for 49.8% share in terms of Value, followed by EMEA, North America, respectively.

Global Electricity Meters Market: Drivers

Rising proliferation of smart meter is expected to drive growth of the global electricity meters market during the forecast period

Smart meters have witnessed high penetration worldwide in the recent past due to rising regulatory initiatives to install smart meters. Currently, smart meters are under deployment, which depends upon the location under consideration. Furthermore, in the European Union, installation of smart meters has become mandatory with rollout plans set by the Commission for Energy Regulation among other legislative bodies. Smart meters offer numerous advantages including fraud detection, secure supply, prepayment functionality, energy saving, energy offers based on tariffs, self-diagnostics, and awareness of peak consumption. Hence, these factors are expected to drive growth of the global electricity meters market during the forecast period.

Rapid industrialization worldwide is expected to propel the global electricity meters market growth over the forecast period

Electricity meters are used on a vast scale for commercial and industrial purposes. There is a constant demand for meters with high flexibility and high level of robustness, owing to high power requirements. Industries witnessed the use of smart meters before they penetrated into the residential sector due to features such as remote programmability which are essential for evaluating energy consumption. Moreover, high growth of urbanization with rising demand for consumer electronics is expected to boost the global electricity meters market growth over the forecast period.

Global Electricity Meters Market: Opportunities

Rising initiatives for smart grid projects can provide business opportunities

Many countries have started investing rigorously in smart grid projects with the replacement of conventional electrical networks. Smart grids act as an automated monitoring and controlling system and is an enhancement over traditional electrical network. Dynamic pricing and consumption data are the core functionalities provided by smart meters, which are envisioned on a larger scale in the form of the grid. A number of pilots have been undertaken as a prelude to a full-scale grid establishment, with Europe and North America witnessing highly favorable regulatory conditions.

Growing emphasis on renewable energy sources can provide lucrative growth opportunities

Since smart grid helps to save energy, many countries have started investing in smart grids. Many renewable energy projects are being adopted, in order to enhance efficiency and implement effective transmission of electricity. Major companies in the market can capitalize on these opportunities by providing novel solutions and gain a competitive edge in the market.

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Electricity Meter Market Report Coverage

Report Coverage Details
Base Year: 2020 Market Size in 2021: US$ 25,001.2 Mn
Historical Data for: 2017 to 2020 Forecast Period: 2021 to 2028
Forecast Period 2021 to 2028 CAGR: 18.7% 2028 Value Projection: US$ 82,818.6 Mn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East: GCC Countries, Israel, and Rest of Middle East
  • Africa: South Africa, North Africa, and Central Africa
Segments covered:
  • By Applications: Residential, Commercial, Industrial
Companies covered:

Siemens AG, Holley Metering Ltd., Schneider Electric SA, Itron, General Electric, Landis+Gyr, Delixi Group Co. Ltd., and Jiangsu Linyang Electronics Co., Ltd.

Growth Drivers:
  • Rising proliferation of smart meter
  • Rapid industrialization worldwide
Restraints & Challenges:
  • Challenges associated with energy theft
  • Various concerns among end users

Market Trends:

Inorganic strategies among market players can provide major business opportunities

Key companies in the market are focused on inorganic strategies, in order to gain a competitive edge in the market. For instance, in March 2012, Holley Metering Ltd. entered into a joint venture with Echelon Corporation, with an aim to develop smart meter products for China. In December 2012, Itron received a contract worth USD 150 million to provide smart meters to utilities in Johannesburg. Moreover, in May 2013, Toshiba was selected as the preferred supplier by the Tokyo Electric Power Company (TEPCO) for smart meter communication systems.

Research and development activities is another major trend

Major market players are focused on research and development activities, in order to innovate novel products and gain a competitive edge in the market. For instance, in May 2013, Itron launched an upgraded smart meter version in the Brazilian market.

Figure 2. Global Electricity Meters Market Share, By Application, 2020

Electricity Meters  | Coherent Market Insights

Key Takeaways of the Graph:

  • The commercial held dominant position in the market and accounted for 39.7% share in the global electricity meters market in 2020. The segment is expected to reach US$ 36,300.2million in 2028. The increasing power consumption drives the smart meter growth rate in the sector among commercial consumers due to technological and economic advancements and the growing government support for mandatory smart meter rollout projects in the sector.

Global Electricity Meters Market: Restraints

Challenges associated with energy theft are expected to restrain growth of the global electricity meters market during the forecast period

Energy theft remains a major challenge in the industry. This is typically prevalent in high population density and low-income level areas. According to the National Agency for Electric Energy, electricity worth around US$ 4 billion is stolen each year. Tampering varies from brute force methods such as jamming the mechanism to sophisticated techniques such as saturating the in-built magnetic components. This includes bypassing the meter, slowing down the meter, and inverting the meter. Hence, these factors are expected to restrain growth of the global electricity meters market over the forecast period.

Various concerns among end users are expected to hinder the global electricity meters market growth over the forecast period

Although electricity meters are universal, there still remains security and monetary concerns among consumers regarding these devices. It is expected that subsequent reductions in payment are expected to compensate for initial investment. However, end users are still reluctant to switch to this technology without being aware of the advantages. Furthermore, the cost of pilot projects and deployments has to be created by regulatory bodies and utilities, owing to the nascent stage of the smart meter market. Utilities, energy providers, and regulatory bodies need to alleviate user concerns in order to experience successful smart meter rollouts. Therefore, these factors are expected to restrain hinder of the global electricity meters market during the forecast period.

Global Electricity Meters Market: Competitive Landscape

Key players operating in the global electricity meters market are Siemens AG, Holley Metering Ltd., Schneider Electric SA, Itron, General Electric, Landis+Gyr, Delixi Group Co. Ltd., and Jiangsu Linyang Electronics Co., Ltd.

Global Electricity Meters Market: Key Developments

Major companies in the market are focused on mergers and acquisitions, in order to gain a competitive edge in the market. For instance, in January 2020, Siemens AG acquired C&S Electric, an India-based manufacturer of electric and electronic equipment.

Key market players are involved in mergers and acquisitions, in order to enhance the market presence. For instance, in May 2018, Schneider Electric SA, an energy management company, acquired L&T’s electrical and automation business.

An electricity meter, power meter, electrical meter, kilowatt meter, direct current meter or solar panel meter is a small device which measures the amount of electrical energy used in a home, an industry, or an electrically operated appliance. These types of devices are commonly referred to as electricity meters, direct power meters, and solar panels meters. Electricity and gas prices are always important factors to consider when purchasing any kind of appliances and systems.

One of the benefits offered by smart metering systems is the ability to obtain accurate and up-to-date pricing information. Through smart metering, customers can receive invoices via email that indicate their monthly consumption in kilowatts. Customers can also monitor and track their usage using the system's online portal. This allows for easy billing correction, maintenance and account reconciliation. Customers can also easily determine if they are paying for services in accordance with their billing period.

 Market Dynamics:

Increasing deployment of smart meters is expected to propel growth of the global electricity meters market over the forecast period. For instance, in September 2020, ADD GRUP, together with its partners Intrarom S.A. and Adrem SRL finalized the contract for delivery and deployment of 10 000 ADDAX smart meters to Distributie Energie Oltenia S.A. (DEO), Romania.

Major players operating in the global electricity meters market are focused on enhancing the security capabilities of their solutions. For instance, in June 2021, Networked Energy Solutions selected the Cryptsoft KMIP Key Management SDK to enhance the security capabilities of their advanced metering infrastructure solutions.

Major players in the market are also focused on adopting partnership strategies to enhance their market share. For instance, in June 2020, Itron, Inc. successfully closed the previously announced agreement to partner with Accell as Itron’s regional partner and lead distributor for the Latin America region, giving access to Itron’s full suite of solutions, including networked solutions, analytics, smart cities and outcomes offerings.

Key features of the study:

  • This report provides in-depth analysis of the global electricity meters market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2021–2028), considering 2020 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global electricity meters market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
  • Key companies covered as a part of this study include Siemens AG, Holley Metering Ltd., Schneider Electric SA, Itron, General Electric, Landis+Gyr, Delixi Group Co. Ltd., and Jiangsu Linyang Electronics Co., Ltd.
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
  • The global electricity meters market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global electricity meters market

Detail Segmentation

  • Global Electricity Meters Market, By Application:
    • Residential
    • Commercial
    • Industrial
  • Global Electricity Meters Market, By Region:
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East and Africa
  • Company Profiles
    • Siemens AG *
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Holley Metering Ltd.
    • Schneider Electric SA
    • Itron
    • General Electric
    • Landis+Gyr
    •  Delixi Group Co. Ltd.
    •  Jiangsu Linyang Electronics Co., Ltd.

*Browse all the market data tables and figures on “Global Electricity Meters Market- Forecast to 2028”

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Application
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Regulatory Scenario
    • Industry Trend
    • Merger and Acquisitions
    • New system Launch/Approvals
  4. Global Next Generation Memory Technologies Market, By Product Type, 2017-2028 (US$ Million)
    • Introduction
      • Market Share Analysis, 2020 and 2028 (%)
      • Segment Trends
    • Non-Volatile
      • Introduction
      • Market Size and Forecast, 2017–2028, (US$ Million)
    • Volatile
      • Introduction
      • Market Size and Forecast, 2017–2028, (US$ Million)
  5. Global Next Generation Memory Technologies Market, By Application, 2017-2028 (US$ Million)
    • Introduction
      • Market Share Analysis, 2020 and 2028 (%)
      • Segment Trends
    • Residential
      • Introduction
      • Market Size and Forecast, 2017–2028, (US$ Million)
    • Commercial
      • Introduction
      • Market Size and Forecast, 2017–2028, (US$ Million)
    • Industrial
      • Introduction
      • Market Size and Forecast, 2017–2028, (US$ Million)
  6. Global Next Generation Memory Technologies Market, By Region, 2017-2028 (US$ Million)
    • Introduction
      • Market Share Analysis, By Region, 2020 and 2028 (%)
    • North America
      • Regional Trends
      • Market Size and Forecast, By Application, 2017–2028 (US$ Million)
      • Market Share Analysis, By Country, 2020 and 2028 (%)
        • U.S.
        • Canada
    • Western Europe
      • Regional Trends
      • Market Size and Forecast, By Application, 2017–2028 (US$ Million)
      • Market Share Analysis, By Country, 2020 and 2028 (%)
        • U.K.
        • Germany
        • Italy
        • France
        • Rest of Europe
    • Eastern Europe
      • Regional Trends
      • Market Size and Forecast, By Application, 2017–2028 (US$ Million)
      • Market Share Analysis, By Country, 2020 and 2028 (%)
        • Poland
        • Russia
        • Rest of Eastern Europe
    • Asia Pacific
      • Regional Trends
      • Market Size and Forecast, By Application, 2017–2028 (US$ Million)
      • Market Share Analysis, By Country, 2020 and 2028 (%)
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Regional Trends
      • Market Size and Forecast, By Application, 2017–2028 (US$ Million)
      • Market Share Analysis, By Country, 2020 and 2028 (%)
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Middle East and Africa
      • Regional Trends
      • Market Size and Forecast, By Application, 2017–2028 (US$ Million)
      • Market Share Analysis, By Country, 2020 and 2028 (%)
        • GCC Countries
        • South Africa
        • Rest of the Middle East and Africa
  7. Competitive Landscape
    • Company Profiles
      • Siemens AG
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Holley Metering Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Schneider Electric SA
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Itron
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • General Electric
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Landis+Gyr
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Delixi Group Co. Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Jiangsu Linyang Electronics Co., Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
  8. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse XX market data tables and XX figures on “Global Electricity Meters Market-forecast to 2028”.

FAQgrowicon

Frequently Asked Questions

Global electricity meters market size is estimated to be valued at US$ 25,001.2 Million in 2021 and is expected to exhibit a CAGR of 18.7% between 2021 and 2028.
Rising proliferation of smart meter and rapid industrialization worldwide are the factors fuelling growth of the market.
The commercial segment is the leading component segment in the market.
Challenges associated with energy theft and various concerns among end users are factors hindering growth of the market.
Key players operating in the market are Siemens AG, Holley Metering Ltd., Schneider Electric SA, Itron, General Electric, Landis+Gyr, Delixi Group Co. Ltd., and Jiangsu Linyang Electronics Co., Ltd.
APAC region is expected to hold dominant position in the market over the forecast period. The growth of the market in the state is driven by the growing emphasis to reduce carbon emissions from utility operations and effectively integrate DER such as solar and wind power for enhanced power sector operations.
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