New York, December 23, 2020 (GLOBE NEWSWIRE) – Reportlinker.com announces the release of the report “Global Smart Meter Market by Product, by End User, by Region, Industry Analysis and Forecast, 2020 – 2026.” – https: //www.reportlinker.com/p05999875/?utm_source=GNW
Usage data can be sent via these smart meters via network communication, radio frequency electromagnetic radiation (RF) and cellular communication, helping the utility to successfully manage energy use. Smart meters provide many benefits such as reducing meter reading costs, preventing connection interruptions, reducing billing errors, and reconnecting costs to consumers and corporations.
Smart electricity metering systems are used to reduce peak current demand and allow end users to smoothly monitor energy consumption and reduce it accordingly. Power suppliers use these devices to the maximum advantage by aligning their response time reduction benefits to address hardware inefficiencies and power outages and providing improved delivery of customer service for remote reading convenience. Because energy production using renewable methods varies over time, low-energy production ultimately results in volatile energy productivity.
Nevertheless, the use of a metering device helps to compensate for this loss by managing the power consumption of many electronic devices as it is capable of controlling irregular power supply. Numerous policies for the introduction of smart meters in various regions such as useful government initiatives taken in countries including the US and UK are helping to set up these devices, which are expected to take a significant role in industry growth.
According to the product
Based on products, the market is segmented into smart electricity meters, smart water meters and smart gas meters. In 2019, the market was dominated by the electricity meter segment in terms of revenue and is expected to continue the same trend over the forecast period. The introduction of useful regulatory policies to replace traditional meters with intelligent metering systems to successfully monitor and manage energy consumption will benefit the industry’s prospects. Furthermore, increasing investments by private and public players in smart grid installation will have a positive impact on the business scenario.
Based on end users, the market is segmented into residential, commercial and industrial. The housing segment generated maximum revenue in 2019. Progressive industrialization combined with economic growth and growing urbanization will spur market growth. Significant advances in living standards in terms of increasing per capita income have shifted consumer focus towards the adoption of advanced technologies. Moreover, strict government norms toward expanding existing network infrastructure and reducing electricity theft will support demand.
Based on regions, the market is segmented into North America, Europe, the Asia-Pacific region and Latin America, the Middle East and Africa. The Asia-Pacific region is the largest market for smart meters in the world, mainly due to China, and the trend is expected to continue over the forecast period. The regional market has been driven by the growing importance of reducing carbon emissions from utility operations and the successful incorporation of SERs such as wind and solar energy for improved energy sector performance.
The main strategies followed by market participants are product launches and partnerships. Based on the analysis presented in the cardinal matrix; Siemens AG, Schneider Electric SE and Honeywell International, Inc. are the forerunners of the smart meter market. Companies such as Itron, Inc., Landis + Gyr Group AG, Badger Meter, Inc., Xylem, Inc., General Electric (GE) Co. and Neptune Technology Group, Inc. are some of the key innovators in the market.
The market research report covers the analysis of key market stakeholders. Key companies presented in the report include Schneider Electric SE, Siemens AG, General Electric (GE) Co., Honeywell International, Inc., Xylem, Inc. (Sensus), Badger Meter, Inc., Landis + Gyr Group AG, Itron, Inc., Neptune Technology Group, Inc. (Roper Technologies, Inc.) and Holley Technology Ltd.
The latest strategies applied in the market of smart meters
Partnerships, cooperation and agreements:
October 2020: Schneider Electric has partnered with SolarEdge Technologies, a supplier of power optimizers, a solar converter and photovoltaic array monitoring systems. The goal of the partnership was to boost the residential solar market and offer homeowners coherent energy management for smart homes in the near future.
October 2020: Landis + Gyr has extended its partnership agreement with Calvin Capital, the leading owner and manager of critical energy infrastructure. The partnership provided a flexible amount of SMETS2 smart meters to help introduce the commitments of independent UK energy suppliers that Calvin Capital has applied as its asset supplier.
September 2020: Landis + Gyr merges with Vodafone, the telecommunications giant. The partnership focused on encouraging the adoption of green energy technologies and enabling Landis + Gyr customers to connect their smart meters and smart grid applications to more than 400 networks in 180 countries using Vodafone Business’ of Things (IoT) services.
May 2020: Landis + Gyr enters into a contract with Indianapolis Power & Light Company (IPL), a U.S. utility company that provides electrical services. Under the agreement, the company announced the addition of 350,000 advanced meters and an updated network infrastructure to AMI’s existing IPL program, and Landis + Gyr continued to offer network and meter management services, along with software hosting.
May 2020: Itron has partnered with EDMI Limited, a global smart metering company. The collaboration focused on the development and launch of SMETS2-compliant gas meters for the United Kingdom, which address the growing demand in the region by bringing a complete solution to the market for safe and reliable natural gas supply management.
March 2020: Itron enters into a partnership agreement with Smart Energy Water (SEW), a leading provider of SaaS cloud-based solutions for energy, water and gas suppliers. The goal of the partnership was to promote the user experience in the global energy and water industry, providing SEW’s Smart Customer Mobile, a digital user experience platform for energy and water companies and cities moving to an advanced metering infrastructure network (AMI).
February 2020: Itron has partnered with Grid4C, AI and machine learning solutions. Under this partnership agreement, Grid4C provided its AI software solution for integration with Itron’s Riva IoT smart metering solution, offering a secure computing environment, application management and real-time data delivery, offering data processing and real-time insights.
Jan-2020: Sensus has partnered with Tacoma Public Utilities (TPU). As part of this collaboration, the Sensus solution provided the latest technology to empower Tacome customers to make better decisions about their energy and water consumption.
Jan-2020: Honeywell has reached a cooperation agreement with Verizon. The collaboration has helped utilities speed up and simplify the deployment of new intelligent sensors and controls for smart grids with communication enabled.
June-2019: Schneider Electric has signed a contract with the Greek electricity distribution network operator (HEDNO). The aim of the contract was to replace conventional HENDO electricity meters with smart meters.
Merger and acquisition:
November 2020: Badger Meter was acquired by :: can GmbH, a private supplier of water quality monitoring systems. It has increased the range of active data for municipalities to improve operational safety, awareness and efficiency.
September 2020: Schneider Electric held a 65% stake in L&T’s electricity and automation (E&A) business. The acquisition helped Schneider create a much stronger balance sheet, thus creating long-term value opportunities for stakeholders by focusing on key aspects of the business.
June 2017: Itron bought Comverge by acquiring parent company Peak Holding Corp. This acquisition has strengthened its portfolio of network solutions with variable distributed power management applications using Itron’s OpenWay Riva IoT solution.
Product launch and product expansion:
November 2020: Siemens upgrades its EnergyIP meter data management application. It has enabled more than 200 electricity, gas and water companies to operate more than 90 million meters. The company has improved its computing efficiency and customer service by offering a cloud-hosted service as well.
August 2020: Badger Meter introduced a new metering solution as a service, netAMP. The solution provides customers with a fixed metering program as a subscription-based service to collect all of their badger metering equipment, meters, software and services to upgrade outdated infrastructure.
March 2020: Itron unveiled its Cyble 5 communication module. This module helped utilities benefit from expanded connectivity options to further improve data collection and billing efficiency. The Cyble 5 communication module transforms mechanical gas and water meters into connected data points, allowing utilities to take advantage of automatic meter reading (AMR) and IoT data collection (LoRaWan / Sigfox).
Jan-2020: Schneider Electric expands the PowerLogic ION9000 series with the introduction of the PowerLogic ION9000T. The new series added fast temporary capture capabilities, helping critical facilities avoid interruptions, equipment damage, breakdowns and downtime.
January 2020: Landis + Gyr introduced LTE-M, an Omni-carrier cell meter and service solution. The product has simplified the installation and operation of cellular communications for useful IoT applications.
March 2019: Badger Meter launches a full suite of smart water technologies and services BEACON in the city of Columbia, South Carolina. It aimed to improve urban efficiency and reduce water loss by providing real-time access to detailed water consumption data, improved customer service and empowering their nearly 150,000 customers to better manage their water consumption.
Scope of the study
Market segments covered by the report:
According to the product
• Smart electric meters
• Smart water meters
• Smart gas meters
• North America
about the USA
o The rest of North America
about the UK
o The rest of Europe
• Asia-Pacific region
o South Korea
o The rest of Asia and the Pacific
about the UAE
o Saudi Arabia
o South Africa
o the rest of the LAMEE
• Schneider Electric SE
• Siemens AG
• General Electric (GE) Co.
• Honeywell International, Inc.
• Xylem, Inc. (Sensus)
• Badger Meter, Inc.
• Landis + Gyr Group AG
• Itron, Inc.
• Neptune Technology Group, Inc. (Roper Technologies, Inc.)
• Holley Technology Ltd.
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Read the full report: https://www.reportlinker.com/p05999875/?utm_source=GNW
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