The global smart meter market will raise $ 39.20 billion by 2027: says AMR

Portland.OR, February 15, 2021 (GLOBE NEWSWIRE) – According to a report published by Allied Market Research, a global smart meter market generated $ 21.13 billion in 2019 and is expected to earn $ 39.20 billion by 2027, recording a CAGR of 8.80% from 2020 to 2027. The report provides a detailed analysis of changes in market dynamics, major pockets investment, major winning strategies, key segments competitive scenarios.

The development of communication network infrastructure, government initiatives and increased investment in digital electricity infrastructure are driving the growth of the global smart meter market. However, the high cost of installing smart meters is hampering market growth. On the other hand, the development of smart city projects provides new opportunities in the coming years.

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Covid-19 Screenplay:

  • Production and supply chain management suffered through challenges during the initial locking phases.
  • On the other hand, demand has dropped significantly from both the industrial and commercial sectors.
  • Various regions go through unlocking phases to reap economic benefits. This factor can help the industry to turn around really quickly.

The report offers a detailed segmentation of the global smart meter market based on product, end use and region.

Based on products, the smart electricity meter segment accounted for the largest market share in 2019, contributing almost three-fifths of the total share, and will continue its leading status over the forecast period. In addition, the same segment is projected to be the largest CAGR of 9.7% from 2020 to 2027. The report also analyzes the segment that includes smart water meters and smart gas meters.

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Based on end-use, the residential segment had the largest share in 2019, contributing more than three-fifths of the global market, and is estimated to continue to play its role over the forecast period. However, the industrial segment is projected to record the highest CAGR of 10.5% from 2020 to 2027. The commercial segment is also included in the report.

Based on the region, The Asia-Pacific region had the largest market share in 2019, holding nearly three-fifths of the market, and will maintain its dominant position until 2027. Moreover, this segment is expected to show the highest CAGR of 9.5% over the forecast period. The Global Smart Meter Market Report also talks about regions including North America, Europe and LAMEA.

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Key players in the global smart meter market analyzed in the survey include Badger Meter, EDMI, Holley Metering Limited, Neptune Technology Group Inc., Itron Inc., Landis + Gyr, Schneider Electric SA, Siemens AG, Sensus and Honeywell International Inc.

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We have also published several syndicated market studies in a similar field that might interest you. Below is the title of the report for your reference, taking into account the impact of Covid-19 on this market to help you assess the effects of the pandemic on the short-term and long-term growth trends of this market.

About us:

Allied Market Research (AMR) is the market research and business consulting arm of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global companies, as well as small and medium-sized enterprises, with the unsurpassed quality of “Market Research Reports” and “Business Intelligence Solutions”. AMR has a targeted view of providing business insights and consulting to help its clients make strategic business decisions and achieve sustainable growth in their market.

We are in a professional corporate relationship with various companies and this helps us to extract market data that help us to generate accurate research data tables and confirm the ultimate accuracy in our market forecasting. All the data presented in the reports we published were extracted through primary interviews with the top officials of the leading companies in question. Our secondary data acquisition methodology includes in-depth online and offline research and discussion with industry experts and analysts.

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